Massive storm thrashes Southern California

Massive storm thrashes Southern California

AAP Southern California is cleaning up after its biggest storm in years unleashed a wave of rain and snow that killed at least three people and triggered flooding, mudslides, high winds and power outages. Vital highways and railways were shut down and sinkholes opened on main roads under the heaviest rainfall in the drought-stricken region in at least five years, according to the National Weather…

Australian Markets

  • Aust shares lose ground AAP - Tue, Feb 14, 2017 4:31 PM AEDT

    The Australian share market has pulled back from earlier gains to close lower with weakness particularly coming from healthcare and retail companies. The benchmark S&P/ASX200 index was down 5.5 points, ...

  • Australian shares open flat AAP - Fri, Feb 3, 2017 10:16 AM AEDT

    Australian shares have opened flat as gains in energy companies offset losses across the resource sector. At 1010 AEDT on Friday, the benchmark S&P/ASX200 index was down 1 point, or 0.02 per cent, at 5,597, ...

  • Aust shares edge slightly higher AAP - Tue, Jan 24, 2017 11:08 AM AEDT

    The Australian share market has opened slightly higher as strong commodity prices help offset negativity around US President Donald Trump's protectionist agenda. The benchmark S&P/ASX200 was up 0.06 per cent at 5,614.3 points at 1025 AEDT with the mining-related materials sector leading gains followed closely by the healthcare sector. CMC Markets chief market analyst Ric Spooner said Wall Street was down only slightly overnight, suggesting that the Australian share market's sell-off on Monday over US President Donald Trump's economic agenda may have been "overshot".

  • Aust stocks slightly higher AAP - Thu, Dec 22, 2016 12:17 PM AEDT

    The Australian share market is slightly higher on low volumes as trading winds down ahead of Christmas. There's nothing outstanding though," Phillip Capital senior client adviser Michael Heffernan said. Mr Heffernan said it was "just the absence of bad news" driving the market on Thursday.

  • Minerals Technologies Appoints Alexander Masetti, Vice President & Managing Director, Paper PCC ACN Newswire - Thu, Mar 19, 2015 11:23 PM AEDT

    NEW YORK, March 19, 2015-Minerals Technologies Inc. ( NYSE: MTX ) announced today that its Board of Directors has appointed Alexander Masetti Vice President and Managing Director of its Paper PCC business ...

  • Europe closes mixed; FTSE rallies after Budget speech CNBC - Thu, Mar 19, 2015 3:30 AM AEDT

    European equities closed mixed on Wednesday as investors await the outcome of the U.S. Federal Reserve's two-day policy meeting.

  • European stocks open higher AFP - Mon, Mar 16, 2015 9:35 AM AEDT
    European stocks open higher

    Europe's main stock markets rose at the start of trading on Monday, with London's benchmark FTSE 100 index of top companies up 0.26 percent to 6,758.23 points. The CAC 40 in Paris climbed 0.17 percent ...

  • Europe shares close flat; FTSE higher on Asos, TSB CNBC - Fri, Mar 13, 2015 3:30 AM AEDT
    Europe shares close flat; FTSE higher on Asos, TSB

    European equities closed flat on Thursday, as investors reacted to earnings and banking news.

  • Banks roll out spending plans AAP - Thu, Mar 12, 2015 10:32 AM AEDT

    American Express Co - will buy back up to $US6.6 billion ($A8.71 billion) in stock and raise its dividend to US29 cents from US26 cents. Capital One Financial Corp - plans to buy back $US3.13 billion in stock and raise its dividend from US40 cents from US30 cents. Citi - will buy back up to $US7.8 billion in stock and raise its quarterly dividend to US5 cents from US1 cent. Comerica Inc - will buy back up to $US393 million in stock and raise its dividend to US21 cents from US20 cents.

  • Falling euro boosts European stocks; Adecco up 6% CNBC - Thu, Mar 12, 2015 3:43 AM AEDT
    Falling euro boosts European stocks; Adecco up 6%

    European equities closed higher on Wednesday, bouncing back heavy losses seen in the previous session.

 

Company Finances

  • US milk industry fights back AAP - Thu, Sep 17, 2015 2:00 PM AEST

    America's milk industry is fed up with all the sourness over dairy. As Americans continue turning away from milk, an industry group has been pushing back at its critics with a social media campaign trumpeting the benefits of milk. Julia Kadison, of Milk Processor Education Program, which represents milk companies, said the breaking point came last year when the British Medical Journal published a study suggesting drinking lots of milk could lead to earlier death and a higher incident of fractures.

  • Oroton profit slumps 68% AAP - Thu, Sep 17, 2015 11:08 AM AEST

    Luxury handbag and accessories retailer Oroton has suffered a huge hit to its full year profit as it transitions away from heavy discounting and expands the GAP clothing brand. Oroton's profit for the 12 months to July 25 tumbled 68 per cent to $2.6 million, from $8.3 million a year earlier. Chief executive Mark Newman says the drop in earnings was partly due to the retailer reining in heavy discounts on its Oroton range.

  • Hyundai chief cautious on prospects for self-driving cars AFP - Thu, Sep 17, 2015 10:57 AM AEST
    Hyundai chief cautious on prospects for self-driving cars

    The self-driving car is coming, but not as rapidly as people think, the head of the European operations of South Korean carmaker Hyundai, Thomas Schmid, told AFP on Wednesday. "My personal belief is that autonomous driving might come, but by far not as quick as everyone says in 10 or 15 years," Schmid said in an interview on the sidelines of the IAA motor show. Alongside the connected car, autonomous driving is one of the new buzzwords in the automobile sector.

  • Hopes for shopping revolution as malls sprout in Iran AFP - Thu, Sep 17, 2015 5:37 AM AEST
    Hopes for shopping revolution as malls sprout in Iran

    The traditional bazaar has long been the place to shop in Iran but despite years of sanctions a new generation has discovered a vastly different consumer experience: blatant, unapologetic Western-style consumerism. Developers have broken ground on an estimated 400 modern shopping malls across Iran in recent years -- 65 of them in Tehran alone. Experts say the expected lifting of sanctions imposed over Iran's disputed nuclear programme will open the door to a potential retail bonanza, especially for imported Western goods.

  • Auto industry shows off car cockpit of future at IAA AFP - Wed, Sep 16, 2015 5:26 PM AEST
    Auto industry shows off car cockpit of future at IAA

    The futuristic seat designed by French parts supplier Faurecia is among car cockpit innovations that are being unveiled at the IAA car show, with the promise to transform vehicles into a cross between a mobile sitting room, connected office and a space for relaxing in. With their futuristic designs, state-of-the-art materials and intelligent dashboards, a number of new concept cars are the stars of this year's IAA, which opened to the world press on Tuesday and is scheduled to welcome the general public from Saturday. Completely driverless cars may still be some way off, but "autonomous driving is arriving at full speed," said Han Hendriks, vice-president of sales and product development at Yanfeng Automotive Interiors.

  • Subway co-founder Fred DeLuca dies at 67 AFP - Tue, Sep 15, 2015 8:50 PM AEST
    Subway co-founder Fred DeLuca dies at 67

    Fred DeLuca, who parlayed a $1,000 loan from a friend into the global Subway sandwich chain, has died at 67 of leukemia, the company announced Tuesday. DeLuca had been treated for the disease since 2013 and had named his sister, Suzanne Greco, as president to run day-to-day operations. The pace of growth accelerated considerably after 1974, when DeLuca and Buck sold the right to use the Subway brand to franchisees in return for marketing and other support.

  • Kellogg ties up with Singapore's Tolaram in West Africa AFP - Tue, Sep 15, 2015 6:29 PM AEST
    Kellogg ties up with Singapore's Tolaram in West Africa

    US breakfast cereal producer Kellogg said Tuesday it was investing $450 million to build sales of its popular brands in the rapidly growing West Africa market. Kellogg announced it was joining hands with Tolaram Africa, the Nigeria-based unit of Singapore's Tolaram group, taking a 50 percent share in its distribution arm Multipro, to open markets for its cereals, snacks and other foods. Tolaram already holds a strong position in Nigeria, Ghana and other parts of the region through its production and distribution of Indomie instant noodles, a popular breakfast item, cooking oil and pasta brands.

  • US regulators bar sales of four kinds of cigarettes AFP - Tue, Sep 15, 2015 6:10 PM AEST
    US regulators bar sales of four kinds of cigarettes

    US regulators on Tuesday ordered tobacco giant RJ Reynolds to stop selling and distributing four kinds of cigarettes because they are too different from previously approved cigarettes. The four products are Camel Crush Bold, Pall Mall Deep Set Recessed Filter, Pall Mall Deep Set Recessed Filter Menthol and Vantage Tech 13 cigarettes, the US Food and Drug Administration said in a statement. "The company's submissions for these products did not meet requirements" that the products be "substantially equivalent" to products already on the market as of February 15, 2007, the FDA said.

  • M Night Shyamalan scares up profit with 'The Visit' CNBC - Tue, Sep 15, 2015 1:23 AM AEST
    M Night Shyamalan scares up profit with 'The Visit'

    M. Night Shyamalan is the latest director to partner with producer Jason Blum, who makes micro-budget horror films that turn fantastic profits.

  • Auto industry veteran hired to rev up Google car AFP - Mon, Sep 14, 2015 8:51 PM AEST
    Auto industry veteran hired to rev up Google car

    Google announced Monday it hired auto industry veteran John Krafcik to head up its self-driving car project, as it eyes expanded road tests for autonomous vehicles. "This technology can save thousands of lives, give millions of people greater mobility and free us from a lot of the things we find frustrating about driving today," he said. Krafcik previously spent 10 years at Hyundai Motor America, including five as president and chief executive of the US arm of the South Korean auto giant.