Business
So much money he doesn’t know what to do
BHP Billiton’s chief executive is facing an enviable problem – how to keep his war chest from the hands of shareholders, unions, communities and the government.
Tension in the shopping trolley ranks
Woolworths chief executive Michael Luscombe was uncharacteristically subdued as he released the retailer’s first-quarter sales figures late last year.
Dividend bounty as miner digs deep
Fortescue Metals Group has awarded its first dividend to shareholders after reporting a record $US314 million half-year profit.
Qantas plots course for India and China
In an industry more prone to short-term shocks and uncontrollable cost pressures than most, Qantas is building a strong case that it has a model which, if not immune, is at least adaptable to economic cycles.
ANZ’s $1.4bn leaves room for improvement
ANZ Banking Group plans to make further cuts in the cost of running its Australian division as it battles to keep under control expenses associated with its push into Asia.
Hardie cuts guidance on weak US housing
James Hardiewill speed up the rollout of cheaper building materials to sustain sales through the US’s economic downturn, chief executive Louis Gries said yesterday as the maker of fibre cement lowered its full-year earnings guidance.
Developers report strong growth
Australia’s listed housing developers are defying the weaker market and higher interest rates. Most have reported strong profit growth in the first half. Many have record contracts on hand. All have strategies to address affordability and enhance margins.
Cons Media pitches for more in Seek Asia
James Packer and Kerry Stokes’s pay television investment company, Consolidated Media Holdings, has reported solid net profit growth for the December half, achieving analysts’ consensus forecast.
NAB split heralds tactical switch
NAB rolled out a series of stunts across Australia in the past week to send a message it was “breaking up” with the other three big banks.
Billabong rides worst of weather
Updated | Analysts may take the knife to full-year forecasts for Billabong International after the surfwear and board sports retailer reiterated that earnings would be flat this year and warned of surging cotton prices.
Financial Review TV
Domestic market lifts Qantas
Qantas CEO Alan Joyce and CFO Gareth Evans discuss the airline’s first-half profit result.
Asia delivers, despite the naysayers
Chanticleer | As one of the few chief executives of an Australian company to stick his neck out with a full blown Asian strategy, Mike Smith at Australia and New Zealand Banking Group is used to being kicked.
Coal yet to weather the worst
Street Talk | Analysts believe hard coking coal forecasts could stay closer to heightened levels of $US300 a tonne for longer than initially expected because of recent force majeure declarations in Queensland.
World Indices
| S&P;/ASX 200 | 4,936.7 | - 1.7 | - 0.03% |
| ALL ORDINARIES | 5,026.1 | + 0.1 | + 0.00% |
| S&P;/ASX 100 | 4,014.9 | - 1.1 | - 0.03% |
| SMALL ORDS | 2,941.6 | - 1.3 | - 0.04% |
| Dow Jones Industrial | 12,391.25 | + 73.11 | + 0.59% |
| S&P 500 | 1,343.01 | + 2.58 | + 0.19% |
| NASDAQ | 2,833.95 | + 2.37 | + 0.08% |
| Wilshire 5000 | 14,193.72 | + 19.40 | + 0.14% |
| FTSE 100 | 6,082.99 | - 4.39 | - 0.07% |
| CAC 40 | 4,157.14 | + 4.83 | + 0.12% |
| SMI | 6,717.25 | + 10.78 | + 0.16% |
| DAX | 7,426.81 | + 21.30 | + 0.29% |
| HANG SENG INDEX | 23,595.24 | + 293.40 | + 1.26% |
| STRAIT TIME INDEX | 3,086.92 | + 4.09 | + 0.13% |
| Nikkei 225 | 10,842.80 | + 6.16 | + 0.06% |
| SSE COMPOSITE/d | 2,899.79 | - 27.17 | - 0.93% |
Industry Reports
- Agriculture, Forestry and Fishing
- Mining
- Manufacturing
- Electricity, gas and Water Supply
- Construction
- Wholesale Trade
- Retail Trade
- Accommodation, Cafes and Restaurants
- Transport and Storage
- Communication Services
- Finance and Insurance
- Property and Business Services
- Government Administration and Defence
- Education
- Health and Community Services
- Cultural and Recreational Services
- Personal and Other Service
Resources Daily latest
Oil prices rise as Mid East unrest escalates
Benchmark crude prices rose on Friday as anti-government clashes in the Middle East kept worries of oil supply disruptions alive ahead of the three-day holiday weekend in the United States.
Copper rises on $US; Vale cuts lift nickel
Copper rose on Friday as the doper centlar softened versus the euro, attracting non-US investors, while news miner Vale would cut some of its nickel output underlining supply concerns.
Companies
LandMark White (LMW)
LandMark White said it is confident the results of the second half of the financial year will be better than this result and is focused on improving the business.
Australian Education Trust (AEU)
Australian Education Trust dealt with its major tenant that went into administration as well as other issues related to the GFC during the half.
Financial Services
Big sister knows what’s best for you
Capital idea | The government has failed to properly account for lifting the compulsory superannuation contribution to 12 per cent.
NAB split heralds tactical switch
NAB rolled out a series of stunts across Australia in the past week to send a message it was “breaking up” with the other three big banks.
Property
Trustees need to ensure property title is right
One of the major obligations placed on trustees of super funds is making sure all assets are correctly registered.
Property funds trapped in ice
Recovering money invested in frozen property trusts has been difficult but for some investors there are more favourable signs.
Technology
Obama has dinner in the valley
Whether Zynga is really worth $US10 billion seems not to have been the main topic of dinner conservation when President Obama met with technology executives on Thursday night.
Competitors gain as earnings drop at ninemsn
Investment in the Bing search engine and a weak online advertising market crunched revenue and profits at ninemsn, the internet joint venture between Microsoft and Nine Entertainment Co, during the 2010 financial year.
Marketing & Media
Tension in the shopping trolley ranks
Woolworths chief executive Michael Luscombe was uncharacteristically subdued as he released the retailer’s first-quarter sales figures late last year.
Competitors gain as earnings drop at ninemsn
Investment in the Bing search engine and a weak online advertising market crunched revenue and profits at ninemsn, the internet joint venture between Microsoft and Nine Entertainment Co, during the 2010 financial year.
Enterprise
The T-shirts make the man
Matt Barnes has come through fire and collapsed clients to arrive at the right retail strategy.
Q and A
We are looking to buy one of our competitors. Is there something we should be looking for in the valuation to help us know if the figure arrived at is reasonable?