Top Stories

  • Top tips for hiring the best AAP - 35 minutes ago

    Hays chief executive Alistair Cox says it's essential to hire employees who have a clear view of the bigger picture, those who have a vision for the future of the business and the industry they are working in, and can communicate this to their colleagues and teams. It's important that a company and its employees share the same values. If your employees believe in your company's ethics and what they are striving to achieve, you will get more out of them.

  • Tresury buys Diageo wine for $US600m AAP - 36 minutes ago

    Treasury Wine is buying the US and UK based wine operations of drinks giant Diageo for $US600 million ($A826.28 million). Treasury, which owns Penfolds, Wolf Blass, Lindeman's and Rosemount Estate in Australia, will tap investors for $486 million to help fund the deal. Meanwhile, Treasury says its full year earnings before interest and tax will come in between $270 million and $290 million thanks to an acceleration in standalone sales in the first quarter.

  • Westpac raising $3.5bln via rights issue AAP - 41 minutes ago

    Westpac Banking Corp is raising $3.5 billion in a rights entitlement offering in order to strengthen its capital reserves to meet new regulatory requirements. The Australian Prudential Regulation Authority in July lifted the mortgage risk weights of the country's top banks to bring their capital reserve levels in line with the world's top financial institutions. Australia's second largest lender also reported preliminary results for 2015, with cash earnings for the year up three per cent to $7.8 billion.

  • Unions fear trade deal still risks jobs AAP - 45 minutes ago
    Unions fear trade deal still risks jobs

    Unions will continue to campaign against a China trade deal, unconvinced a potential agreement between Labor and the federal government will protect Australian jobs. ACTU President Ged Kearney has told ABC radio she is worried the deal could see employers give jobs to foreign workers without checking the Australian market first. Ms Kearney says unions will go ahead with planned town hall meetings.

  • Bonds slightly firmer as stocks weake AAP - 53 minutes ago

    The Australian bond market is a touch firmer after slight falls in overseas share markets on the back of some weak Chinese and German economic data. Morale among German analysts and investors plummeted ...

  • Domino's Pizza expands French operations AAP - 1 hour 2 minutes ago

    Domino's is expanding its European operations with a 35 million euro ($A54.87 million) acquisition of 89 Pizza Sprint stores in France. Domino's will pay an initial 31.5 million euros for the chain in the west of France, with the remainder to follow in instalments. The acquisition, which will be funded by existing and additional debt, is expected to complete in January and will lift the number of Domino's stores in France to 330.

  • Rio chief 'not interested' in Glencore AAP - 1 hour 19 minutes ago

    Rio Tinto chief executive Sam Walsh is reportedly uninterested in bidding for troubled Swiss miner Glencore. Mr Walsh says Glencore operates in different geographic areas to Rio and that "it is a different culture at Glencore," according to The Australian newspaper. Glencore said this week it will try to sell its copper mines in Australia and Chile as it tries to tackle its $US29 billion ($A40 billion) debt.

  • Palmer denies seeking $25m mining loan AAP - 1 hour 27 minutes ago

    Queensland Nickel boss Clive Palmer has denied seeking a $25 million loan from the state government to keep the company afloat. "It's got nothing to do with me ... there's no loan, we're not seeking any subsidy," Mr Palmer told ABC radio on Tuesday, rejecting claims the loan was denied after he refused a government request to open the company books. Workers' Union Queensland spokesman Cowboy Stockham says he has been assured Queensland Nickel's 800-strong workforce is safe.

  • Westpac profit up, launches raising AAP - 1 hour 44 minutes ago

    Westpac Banking Corp has announced a $3.5 billion rights entitlement raising as it unveiled a three per cent increase in 2015 cash earnings to $7.8 billion. Meanwhile, the bank will tap shareholders for $3.5 billion though a one-for-23 renounceable entitlement offer aimed at lifting its capital reserves.

  • Commodities markets summary AAP - 1 hour 51 minutes ago

    Oil prices sank along with the euro after the European Central Bank forecast that the eurozone would continue to contract next year and only return to growth in 2014.

  • $A back below 73 US cents after China data AAP - 2 hours 29 minutes ago

    The Australian dollar is back below 73 US cents amid more signs that the Chinese economy is slowing down. At 0700 AEDT on Wednesday, the currency was trading at 72.64 US cents, down from 73.11 cents on ...

  • International markets roundup AAP - 2 hours 39 minutes ago

    A roundup of trading on major world markets. NEW YORK - A sell-off of drug company stocks has put a hold on Wall Street's two-week-long rally. But beer shares got a boost on Tuesday from the $US122 billion ...

  • Stocks to watch on Wednesday AAP - 2 hours 51 minutes ago

    Stocks of interest on the Australian Securities Exchange on Wednesday: CSS - CLEAN SEAS TUNA - steady at 5.1 cents Fish farmer Clean Seas Tuna holds its annual general meeting on Wednesday. TRS - THE REJECT ...

  • $A falls following weak Chinese data AAP - 3 hours ago

    The Australian dollar is lower after the release of weak Chinese international trade figures. At 0630 AEDT on Wednesday, the currency was trading at 72.64 US cents, down from 73.11 cents on Tuesday. On ...

  • Magazine group to guarantee performance of print ads AFP - 10 hours ago
    Magazine group to guarantee performance of print ads

    A US magazine trade group said Tuesday it would offer a performance guarantee for print advertising as a way of countering the growth of digital media. The Association of Magazine Media said it would offer marketers a "money- or space-back guarantee" to show print magazines' ability to connect with consumers. The group said it was launching the initiative based on research that shows the power of print advertising, saying that magazine marketing helped boost sales better than television or online ads.

  • Conde Nast buys indie rock tastemaker Pitchfork AFP - 10 hours ago
    Conde Nast buys indie rock tastemaker Pitchfork

    Conde Nast, the media group behind influential magazines such as The New Yorker and Vanity Fair, said Tuesday it was buying the taste-making indie rock site Pitchfork. Conde Nast, which did not reveal financial terms, said it was drawn to Pitchfork's youthful audience and social media strength as the magazine publisher looks to expand further its digital base. "Pitchfork is a distinguished digital property that brings a strong editorial voice, an enthusiastic and young audience, a growing video platform and a thriving events business," Bob Sauerberg, the president and CEO of Conde Nast, said in a statement.

  • JPMorgan earnings lifted by tax benefits AFP - 11 hours ago
    JPMorgan earnings lifted by tax benefits

    US banking giant JPMorgan Chase reported a jump in third-quarter earnings Tuesday, as a large tax gain offset weaker performance in bond trading and some other businesses. JPMorgan, the biggest US bank by assets, said earnings in the corporate and investment bank segment fell 12.9 percent. Chief financial officer Marianne Lake said there was "reasonably broad-based market turbulence" in the third quarter due to worries about the slowing Chinese economy and uncertainty about when the US Federal Reserve will raise interest rates.

  • Spain fends off finance critics ahead of elections AFP - 11 hours ago
    Spain fends off finance critics ahead of elections

    Spain's government was forced to defend itself Tuesday against claims it polished its outlook for its recovering public finances ahead of a general election. EU officials warned last week that the conservative administration's public deficit targets in its 2016 budget were over-optimistic. Finance Minister Luis de Guindos said on Tuesday: "I am convinced we are going to meet the Spanish government's budgetary forecasts" for a deficit of 4.2 percent of GDP this year and 2.8 percent for 2016.

  • Chinese middle class now the world's largest AFP - 11 hours ago
    Chinese middle class now the world's largest

    China's middle class has overtaken the United States to become the world's largest, Credit Suisse said Tuesday in its latest report on global wealth. Asia will be the scene for the greatest expansion of the world's middle class, it predicted. The Swiss bank said with 109 million adults "this year, the Chinese middle class for the first time outnumbered" that in the United States at 92 million.

  • Twitter to cut 8% of workforce, refocus under Dorsey AFP - 12 hours ago
    Twitter to cut 8% of workforce, refocus under Dorsey

    Twitter said Tuesday it was slashing eight percent of its workforce as newly returned chief executive Jack Dorsey outlined his "roadmap" to boost users and revenues at the money-losing messaging platform. The cuts -- which amount to 336 jobs -- come less than a week after Dorsey, one of the founders of Twitter, returned to the job of CEO on a permanent basis as part of an effort to revive growth at the San Francisco-based social network. "Made some tough but necessary decisions that enable Twitter to move with greater focus and reinvest in our growth," Dorsey said in a tweet announcing the plan.

  • Portugal socialists tell investors they are 'not Syriza' AFP - 12 hours ago
    Portugal socialists tell investors they are 'not Syriza'

    Portugal's Socialist Party leader Antonio Costa in a bid to reassure investors told AFP Tuesday that a left-wing government would respect trade commitments and would avoid any new crises in the eurozone. "Europe can rest easy, the Socialist Party is not Syriza," Costa said, in reference to Greece's radical-left ruling party which earlier this year saw the country edge very near a chaotic fallout from the eurozone. Costa's party and its potential Communist and Left Bloc coalition partners "have clearly said that an exit from the euro and renegotiating debt are not on the negotiation table," he said.

  • Pharma sell-off cuts short Wall St. rally AFP - 12 hours ago
    Pharma sell-off cuts short Wall St. rally

    A sell-off of drug company stocks put a hold on Wall Street's two-week-long rally on Tuesday. The broad-based S&P 500 dropped 13.77 (0.68 percent) to 2,003.69, while the tech-rich Nasdaq Composite Index fell 42.03 (0.87 percent) to 4,796.61. "The market's gone up every day basically for one week and a half, so it's entitled to a small down day," said Mace Blicksilver of Marblehead Asset Management.

  • Telstra faces $80m hit to earnings AAP - 12 hours ago
    Telstra faces $80m hit to earnings

    The competition watchdog's push to make Telstra cut prices for other telcos accessing its copper wire network could affect future investment decisions and eat into profits. Telstra estimates that the ruling by the Australian Competition and Consumer Commission last Friday will cut $80 million from the telco's revenue and earnings. Chief executive Andy Penn, who on Tuesday addressed his first Telstra annual general meeting since becoming chief executive in May, said the telco was considering an appeal against the ACCC's order for a 10 per cent price cut.

  • Coca-Cola, PepsiCo spar over Chobani stake: source AFP - 12 hours ago
    Coca-Cola, PepsiCo spar over Chobani stake: source

    US soda giants Coca-Cola and PepsiCo are among the companies competing for a minority stake in Greek yogurt maker Chobani, a person familiar with the process said Tuesday. Chobani has hired investment bank Goldman Sachs to oversee the sale of 10-20 percent of the company's shares. The yogurt maker is seeking a strategic partner in part to help develop its international business, the person said.

  • RBA Lowe warns against economic pessimism AAP - 12 hours ago
    RBA Lowe warns against economic pessimism

    The Reserve Bank's deputy boss has downplayed the risk of an Australian recession anytime soon, but wants more help to drive economic growth. RBA deputy governor Philip Lowe said after a remarkable 25 years of economic growth, there would eventually be a period of contraction, and while he refused to rule out the possibility of a downturn he said the probability in the near term is low. The bank said the weak commodity price outlook could subtract one percentage point annually from economic growth from resource-exporting countries like Australia over the next two years.