Hong Kong (AFP) - Hong Kong's richest man Li Ka-shing said Wednesday he would vote for the candidate who is willing to cooperate with Chinese authorities in the city's upcoming leadership vote.
Shares in cleaning and catering company Spotless Group have jumped nearly 50 per cent after infrastructure and mining services firm Downer EDI lobbed a $1.26 billion takeover offer. Downer EDI has taken a near 20 per cent stake in Spotless and offered $1.15 for each remaining share, a 59 per cent premium to value of Spotless shares at the close of trade on Monday. Downer said the acquisition would create the largest diversified and integrated services manager in Australia and New Zealand and provide "certain value" for Spotless shareholders, who have been buffeted by bad news in recent months.
US stocks dipped on Friday as bank shares fell alongside Treasury yields, while Adobe helped buoy the S&P tech sector and the Nasdaq Composite. Amgen was the largest drag on both the S&P 500 and Nasdaq, down 6.4 per cent at $US168.61, after the extent of a cholesterol drug's benefits in a highly anticipated study disappointed investors. The S&P tech index was supported by Adobe's surge to a record high of $US130.30 after the Photoshop software maker reported strong earnings.
The share market has closed almost flat as a disappointing domestic business confidence survey and Chinese economic data contributed to the loss of early gains. The benchmark S&P/ASX200 index closed up ...
The share market is modestly higher as gains in the resources and energy sectors offset weakness among banks, healthcare companies and utilities. The benchmark S&P/ASX200 index was up 0.12 per cent at ...
US employers hired workers at a robust pace in February, beating expectations, and wages edged higher, which could give the Federal Reserve the green light to raise interest rates this week despite slowing economic growth. Nonfarm payrolls increased by 235,000 jobs in February as the construction sector recorded its largest gain in nearly 10 years due to unseasonably warm weather, the Labor Department said on Friday. January's employment gains were revised up to 238,000 from the previously reported 227,000.
Wellington (AFP) - A gruelling round three of Super Rugby this weekend has proved costly for New Zealand's backline, with five All Blacks sidelined with leg injuries.
US stocks rose on Friday after a solid jobs report pointed to strength in the domestic economy and supported expectations the Federal Reserve will raise interest rates next week. Indexes ended lower for the week, however, with the S&P 500 and Nasdaq breaking a six-week streak of gains. Fed Chair Janet Yellen signalled last week the US central bank is set to raise rates this month if employment and other economic data hold up.
Infrastructure and mining services group Downer EDI has agreed to buy New Zealand builder Hawkins for an undisclosed sum, as it expands operations in the Pacific nation. Hawkins is one of the largest construction firms in New Zealand, with current major contracts including building Wellington Airport's new control tower, Christchurch's town hall and Auckland's Park Hyatt hotel.
Falling commodity prices and caution ahead of the Reserve Bank's interest rate statement are weighing on Australian shares. Leads from overseas markets were negative with most global stocks falling on renewed tensions in East Asia after North Korea tested four missiles off the coast of Japan and amid doubts about the implementation of US President Donald Trump's economic program. Mr McCarthy said investors were also being cautious ahead of the Reserve Bank's interest rate decision on Tuesday afternoon.
A late plunge on the share market has sent it to a fourth straight day of falls. The market was trading in positive territory for most of Tuesday's session, but ultimately losses across the resources, ...
Washington (AFP) - Sub-Saharan Africa, where more than a half billion people live without electricity, trails the world in government policies that promote sustainable energy, according to a new World Bank report Wednesday.
The big question from London's bankers for a French delegation trying to lure them to Paris was, how much tax will I pay? "Most were interested in income tax and executive tax on pay," Gerard Mestrallet, president of France's finance industry lobby Europlace said after a recent roadshow. More than 80 representatives from banks and business have met with authorities from Paris who are highlighting the attractions of the French capital if Britain's exit from the European Union forces the relocation of some activities to continental Europe.
The share market has gained ground thanks to strength among the big four banks, following Wall Street's rise to record levels. At 1036 AEDT on Friday, the benchmark S&P/ASX200 index was up 45 points, or 0.79 per cent, at 5709.6, while the broader All Ordinaries index had risen 43.4 points, or 0.76 per cent, to 5761.1. In futures trading, the SPI200 futures contract was up 45 points, or 0.8 per cent, at 5,655 points.
The share market has edged higher as investors digested mixed earnings reports from the likes of miner Rio Tinto, investment manager AMP and AGL Energy. Falls by the big miners were offset by gains in ...
A slip in the major miners is weighing on the Australian stock market as investors digest Rio Tinto's overnight profit result and investors bid up energy and industrial stocks. The benchmark S&P/ASX200 ...
Downer EDI has lifted half year profit by 8.5 per cent as its shift to rail, transport services and technology sectors help offset the continuing decline in its core mining services business. Net profit in the six months to December 31 rose to to $78.2 million, while revenue edged 1.7 per cent higher to $3.6 billion. "The results are strong in earnings and cash flow and trading to date indicates the company will be able to improve earnings for the full year," chief executive Grant Fenn said.
Downer EDI has lifted half-year profit by 8.5 per cent, as its shift to rail, transport services and technology sectors help offset the continuing decline in its core mining services business. Net profit for the six months to December 31 rose to to $78.2 million, while revenue edged 1.7 per cent higher to $3.6 billion. "The results are strong in earnings and cash flow and trading to-date indicates the company will be able to improve earnings for the full year," chief executive Grant Fenn said during an investor call.
Peshawar (Pakistan) (AFP) - Pakistan has refused to grant identity cards to the family of Shakeel Afridi, the jailed doctor who helped the CIA hunt for Osama bin Laden, his lawyer said, effectively denying them passports and voting rights.
Washington (AFP) - US private-sector hiring surged in January with gains across most industries and company sizes, in another sign the economic recovery is picking up steam, payroll services firm ADP reported Wednesday.
Origin Energy's half-year oil and gas revenue has more than doubled, thanks to a sharp lift in production from its Australia Pacific liquefied natural gas (APLNG) project in Queensland and higher prices. The energy producer and retailer reported sales of $973.9 million, up 123 per cent from a year ago. Production was up 51 per cent to 154.3 petajoules, helped by the ramp-up at APLNG, as well as the start of production from Halladale and Speculant in the Otway Basin in August.
Washington (AFP) - A key measure of US inflation posted its fastest annual gain in more than two years last month but remained shy of the central bank's target, the Commerce Department reported Monday.
Beijing (AFP) - Ye Haiyan, one of China's most prominent women's rights activists, huddled in her unheated apartment on the outskirts of Beijing, waiting to learn if the documentary that propelled her to international fame would receive an Oscar nod.
Davos (Switzerland) (AFP) - They may be richer and more numerous than ever, but the world's urban dwellers can be forgiven a sense of dread as threats pile up from climate change, terrorism and anarchic growth.
Washington (AFP) - Industrial output jumped in December, retracing the decline in November, which was bigger than originally reported, with consumer goods and utilities leading the way, the Federal Reserve reported Wednesday.
The share market is higher as investors continue to bet on gains, driving strength in the miners and banks. The benchmark S&P/ASX200 index was up 0.2 per cent after almost an hour of trade, with the gains ...
The consumer watchdog wants Facebook and other companies to help thwart scammers. Romance scammers are increasingly using social media, mainly Facebook, to find victims instead of the traditional dating websites as a variety of scams continue to target Australians. The Australian Competition and Consumer Commission is looking at what it can do beyond educating consumers about scams, its deputy chair Delia Rickard said.
Scammers are demanding iTunes gift cards or the digital currency bitcoin as payment and using Facebook to trick Australians into handing over money. Sophisticated scammers keep changing their modus operandi and are hiding behind trusted brands such as government agencies, utilities and telecommunications companies, the Australian Competition and Consumer Commission says. "There's a lot of work being done in many quarters however you can't overestimate the number of scams that are flooding the country," ACCC deputy chair Delia Rickard told AAP.