Business
Oil's drop could leave a stain on earnings

NEW YORK (Reuters) - Heading into second-quarter earnings season, investors are looking for a continuation of strong U.S. company results to justify high stock valuations, now...

Reuters Business
Amazon's Whole Foods takeover could lead to local grocery sector deals

The takeover by Amazon of the Whole Food business has raised suggestions among Australian observers that a similar deal could occur over here as a way of gaining instant marke...

The Age Business
The cities that run the world

Sydney and Melbourne are often given global city status, but the two have some attributes which undermine their claims...

The Age Business
Even with Whole Foods, Amazon would need many more warehouses to reshape grocery delivery

(Reuters) - If Amazon.com Inc hopes to revolutionize grocery delivery, then its bid to buy Whole Foods Market Inc for $13.7 billion will be just the start of a long and cost...

Reuters Business
SeaWorld subpoenaed on disclosures about 'Blackfish' impact, trading

(Reuters) - SeaWorld Entertainment Inc said on Friday it received a subpoena from the U.S. Department of Justice in connection with an investigation over disclosures made abo...

Reuters Business
James Packer's Asia retreat could hurt Crown's Australian casinos

Crown Resorts' apparent dismantling of its Asian office network threatens to choke the flow of overseas visitors to the company's Australian casinos...

The Age Business
Anthem to pay record $115 million to settle U.S. lawsuits over data breach

(Reuters) - Anthem Inc , the largest U.S. health insurance company, has agreed to settle litigation over hacking in 2015 that compromised about 79 million people'...

Reuters Business
VW ex-manager should stay in Germany: lawyer in Bild

BERLIN (Reuters) - A lawyer for one of the former Volkswagen managers sought in the United States in connection with the carmaker's diesel emissions-cheating sca...

Reuters Business
SeaWorld subpoenaed on disclosures about 'Blackfish' impact

(Reuters) - SeaWorld Entertainment Inc said on Friday it received a subpoena from the U.S. Department of Justice in connection with an investigation over disclosures made abo...

Reuters Business
CPA chief Alex Malley sacked, will walk away with $4.9m

CPA Australia has announced it has terminated the contract of chief executive Alex Malley...

The Age Business
Italy to start winding down Veneto banks Saturday after EU green-light

MILAN/FRANKFURT (Reuters) - The European Commission on Friday gave preliminary approval for an Italian plan to wind down two ailing Veneto-based regional lenders with state m...

Reuters Business
US stocks gain as oil steadies, ASX futures little changed

US stocks halted a three-day slide, while Treasury yields and the US dollar edged lower. ASX futures were 4 points higher...

The Age Business
Tech, energy shares lift Wall Street

NEW YORK (Reuters) - Wall Street ended higher on Friday as gains in tech and energy stocks more than offset weakness in the financial sector, while a slide in Home Depot kept...

Reuters Business
Exclusive: Eddie Bauer to explore options including sale - sources

(Reuters) - Debt-laden U.S. outerwear and outdoor gear retailer Eddie Bauer LLC has hired investment banks to explore strategic alternatives, including a potential sale of the...

Reuters Business
Lawyers, guns and money: the ATO fraud unravels

While Simon McIntyre and his young child waited for their baggage to come through, other passengers watched in astonishment as detectives from the Terrorism Investigations Squ...

The Age Business
Exclusive: Wal-Mart not considering a bid for Whole Foods - source

(Reuters) - Wal-Mart Stores Inc is not actively considering making an offer for Whole Foods Market Inc, a source familiar with the matter told Reuters on Friday...

Reuters Business
Glencore makes late bid for Rio Tinto coal assets

Glencore's last-minute bid for Australian coal mines leaves Rio Tinto Group with a dilemma to mull over the weekend...

The Age Business
Italy's Veneto banks failing, to be wound up: ECB

FRANKFURT (Reuters) - Italian lenders Veneto Banca and Banca Popolare di Vicenza are failing or likely to fail and will be wound down, the European Central Bank ruled on Frida...

Reuters Business
Tech shares boost Nasdaq; energy stocks rebound

(Reuters) - U.S. stocks rose on Friday, with the Nasdaq set to post its first weekly gain in three weeks, helped by strength in technology stocks, while energy shares rebounde...

Reuters Business
DBRS downgrades Cenovus after ConocoPhillips deal

CALGARY, Alberta (Reuters) - Ratings agency DBRS on Friday downgraded Cenovus Energy Inc, saying the Canadian oil company's acquisition of ConocoPhillips assets i...

Reuters Business
Exclusive: Hedge funds made repeated attempts to invest in Veneto banks - sources

LONDON (Reuters) - A group of four international investment funds offered to inject 1.6 billion euros ($1.79 billion) of fresh capital into two ailing Italian banks in Veneto...

Reuters Business
GM settles hundreds of ignition switch lawsuits

NEW YORK (Reuters) - General Motors Co has agreed to settle federal lawsuits by as many as 203 plaintiffs over defective ignition switches in its vehicles, a Friday court fil...

Reuters Business
Honda engineer debunks own claim about cause of Takata air bag failures

DETROIT (Reuters) - Honda Motor Co on Friday released a 2013 email in which one of its engineers suggested that he knew some hidden truth about "the root cause&a...

Reuters Business
Exclusive: Investment funds offered to invest in Italy's Veneto banks three weeks ago - sources

LONDON (Reuters) - A group of four international investment funds offered to inject 1.6 billion euros ($1.79 billion) of fresh capital into two ailing Italian banks in Veneto...

Reuters Business
Copper rises to early April high after European factory PMIs

Copper prices reached their highest since April 7 as strong European manufacturing data bolstered the demand outlook...

The Age Business
GM says settles many lawsuits over ignition switches

NEW YORK (Reuters) - General Motors Co has reached a settlement to resolve lawsuits by 203 plaintiffs over defective ignition switches in many of its vehicles, lawyers for th...

Reuters Business
Russia's fighter jet makers 'not afraid' of U.S. competition in India

PARIS (Reuters) - Russian military aviation firm MiG said on Friday it was ready to deepen its cooperation with India, just days after U.S. arms maker Lockheed Martin Corp ag...

Reuters Business
Qatar Airways wants a 10% stake in American Airlines

IT SEEMED, at first blush, to be a masterclass in how to bait a rival. For years, American Airlines, along with other big American carriers, has complained of “unfair” com...

The Economist
U.S. stocks rise on tech gains, oil rebound

(Reuters) - U.S. stocks were higher in early afternoon trading on Friday, with the Nasdaq set to post its first weekly gain in three weeks, helped by gains in technology stock...

Reuters Business
Official urges limited Fed role in addressing U.S. inequality

CLEVELAND (Reuters) - The Federal Reserve cannot directly address the problems of inequality, globalization and the challenges facing lower-income Americans, a Fed official sa...

Reuters Business
Are you being served? Planemakers alter sales pitch to boost profit

PARIS (Reuters) - Airbus and Boeing leave this week's Paris Airshow with plans for ambitious growth in aviation services, as flattening demand for new jets and pr...

Reuters Business
Oil creeps up from 10-month low, down nearly 4 percent on week

NEW YORK (Reuters) - Oil futures climbed almost 1 percent on Friday on lift from a falling dollar but remained down for a fifth week in a row and close to a 10-month low as OP...

Reuters Business
Goldman Sachs global head of equity capital markets to retire: Bloomberg

(Reuters) - Goldman Sachs Group Inc's global head of equity capital markets, Stephen Pierce, is retiring from the role after 31 years at the firm, Bloomberg repo...

Reuters Business
U.S. new home sales jump, median price surges to record high

WASHINGTON (Reuters) - New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum...

Reuters Business
S&P, Nasdaq rise as tech stocks gain, oil rebounds

(Reuters) - The S&P 500 and the Nasdaq Composite were higher in late morning trading on Friday as technology shares rose and oil prices rebounded from multi-mo...

Reuters Business
Ford's China move casts new cloud on Mexican carmaking

MEXICO CITY (Reuters) - A second U-turn this year by Ford Motor Co in Mexico has raised the specter of Chinese competition for local carmaking, adding to pressure on the indu...

Reuters Business
Europe faces Herculean challenge to develop new fighter jet

PARIS (Reuters) - Europe is embarking on an expensive and politically charged effort to develop a new combat jet that will shape the future of the European fighter industry an...

Reuters Business
EU promises tough line on U.S., China while pushing for free trade

BRUSSELS (Reuters) - German Chancellor Angela Merkel warned U.S. President Donald Trump on Friday that Europe would react in kind if the United States did not play fair in tra...

Reuters Business
VW is cutting jobs at core brand more quickly than planned: HR boss

WOLFSBURG, Germany (Reuters) - Volkswagen is reducing the workforce at its core division more rapidly than planned, its human resources chief said, helping the brand make hea...

Reuters Business
Policy ponder: central banks head for the Portuguese hills

LONDON (Reuters) - The cool shade of the hills above Lisbon will offer leading central bankers an escape from the summer heat in the coming week, but there is little they can...

Reuters Business
U.S. new home sales rise, median price surges to record high

WASHINGTON (Reuters) - New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum...

Reuters Business
U.S. new single-family home sales rebound in May

WASHINGTON, (Reuters) - New U.S. single-family home sales rose in May and the drop in sales in the previous month was not as steep as previously reported, suggesting the housi...

Reuters Business
S&P, Nasdaq open flat; Dow slightly lower

(Reuters) - The S&P 500 and Nasdaq Composite opened little changed on Friday amid concerns over oil prices, while the Dow Jones Industrial Average was slightly...

Reuters Business
Canada's CIBC completes $5 billion PrivateBancorp buy

TORONTO (Reuters) - Canadian Imperial Bank of Commerce has completed the $5 billion acquisition of Chicago-based PrivateBancorp , which will help it diversify from its domest...

Reuters Business
Wall St. set to open little changed amid oil worries

(Reuters) - Wall Street was set to open little changed on Friday as investors awaited economic data and speeches by Federal Reserve policymakers for clues on interest rate hik...

Reuters Business
Canada's CIBC completes $5 billion PrivateBancorp acquisition

TORONTO (Reuters) - Canadian Imperial Bank of Commerce said on Friday that it had completed the $5 billion acquisition of Chicago-based PrivateBancorp in a deal which will h...

Reuters Business
Toshiba willing to talk with spurned Western Digital about chip unit sale

TOKYO (Reuters) - Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate's prized chip unit...

Reuters Business
Stock futures little changed as oil prices edge up

(Reuters) - U.S. stock index futures were little changed on Friday as oil prices edged up and ahead of economic data and speeches by Federal Reserve policymakers...

Reuters Business
Accenture unloads $1.6 billion in pension liabilities to AIG, MassMutual

(Reuters) - Consulting and outsourcing services provider Accenture Plc said on Friday it would transfer $1.6 billion in pension obligations to insurers American International...

Reuters Business
Oil slide muddies inflation outlook, weighs on stocks

LONDON (Reuters) - World stocks struggled to hold onto earlier gains on Friday and were poised for a flat end to the week following another wobble in energy shares, while a te...

Reuters Business
China's ICBC says checks of loans to big acquirers are routine

BEIJING (Reuters) - Industrial and Commercial Bank of China (ICBC) said on Friday its checks of loans to companies that made overseas acquisitions is routine, following report...

Reuters Business
Ford recalls 15,600 cars in South Africa over fire risk

JOHANNESBURG (Reuters) - Ford Motor Co is recalling nearly 16,000 Ikon and Figo models in South Africa due to a potential fire risk, it said on Friday...

Reuters Business
Education, not revolution, our best hope to improve workers' share of income

Here's a fact to make every trade union member weep – those few who remain, anyway...

The Age Business
Etihad wants you to pay for its empty seats to boost sales in tough market

The long-haul airline is offering a "neighbour-free seat" option for economy-class passengers allowing them to bid for as many as three seats next to...

The Age Business
Ford recalls 15,600 cars in South Africa over steering fluid leak

JOHANNESBURG (Reuters) - Ford Motor Co is recalling nearly 16,000 Ikon and Figo models in South Africa due to a power steering fluid leak, it said on Friday...

Reuters Business
Tentative oil price recovery lifts energy stocks

LONDON (Reuters) - World stocks were poised to eke out slim gains for the week on Friday as a tentative recovery in oil prices spurred investors to hunt for bargains in the be...

Reuters Business
Toshiba stock listing status downgraded, deeper losses flagged

TOKYO (Reuters) - Crisis-wracked Toshiba Corp suffered further indignities on Friday, estimating bigger losses for the past financial year and getting demoted to the second se...

Reuters Business
VW waives appeal against German dieselgate compensation cases

BERLIN (Reuters) - German carmaker Volkswagen has agreed to buy back diesel cars equipped with illicit emissions control software after deciding not to appeal a German court...

Reuters Business
Tourism WA chair steps down

The state government has announced Tourism WA chairman Peter Prendiville has stepped down after five years in the role. Tourism Minister Paul Papalia said a successor would be...

Business News
Office deals galvanise east coast markets

Yield-chasing investors have galvanised office markets as they run the ruler over a multi-storey complex in downtown Melbourne and a St Kilda Road office tower, just two of mu...

The Age Business
'The precedent is very significant' – bank fears mounting

Bank fears that cash-strapped governments will target the industry with higher taxes are mounting, as another state says imposing its own levy on banks would have its advantag...

The Age Business
Jones to chair Cannings Purple

Cannings Purple has recruited former Deloitte chairman Keith Jones to succeed Norman Moore when he steps down as chair next month...

Business News
Building manager arrested, charged over threats to 'attack' union organiser

A construction company manager has been arrested and charged after allegedly threatening to track down a union safety organiser and saying he would "attack you an...

The Age Business
Shock state levy spoils bank recovery on ASX

A new round of selling in the big four banks after the SA government unveiled its own bank levy kept the market suppressed on Friday...

The Age Business
Busselton pub sold to Charter Hall fund

One of institutional property group Charter Hall’s investment funds has bought The Ship Inn in Busselton, part of a $23.2 million sale and leaseback deal with Australia’s...

Business News
Shares close 9pts higher

The Australian share market has ended in positive territory, despite a tumultuous day for the major banks after fresh talk of state government imposed levies...

Business News
Silver Lake sells Murchison assets to Westgold

Silver Lake Resources has announced the sale of its remaining interests in the Murchison region to Metals X spin-out Westgold Resources in a cash-and-shares deal worth $10 mil...

Business News
Australia not yet ready for US-style whistleblower bounty rewards, says ASIC's John Price

Australia needs to introduce stronger penalties for corporate crime and effective compensation and protections for whistleblowers, before it goes down the path US-style bounti...

The Age Business
Ardent looks to Main Event business as growth engine

Ardent Leisure's new chief executive Simon Kelly has moved to put his stamp on the business,...

The Age Business
Brierty signs facility deal with Bankwest

Brierty says it is confident that a new facility and debt restructure agreement with Bankwest will allow it to return to work on its $300 million mining contract at Rio Tinto...

Business News
Mobile roaming would save consumers $650 million a year, Vodafone says

Mobile prices could drop 5.6 per cent nationally, saving consumers about $660 million collectively every year, if the competition watchdog forces Telstra to share its regional...

The Age Business
Asian shares flat, stay on track for a winning week

TOKYO (Reuters) - Asian shares flatlined on Friday but remained on track for a weekly gain, while crude oil prices pulled away from this week's 10-month lows...

Reuters Business
Mark my words podcast

In this Business News podcast Dan Wilkie and Mark Beyer discuss the state budget, fees and charges, skilled migration, the outlook for Perth property, new mining projects, the...

Business News
APN servo trust comes to market

Listed property trust APN has lodged the prospectus for its long-awaited servo trust, a $323 million portfolio of 67 petrol stations and convenience stores...

The Age Business
Elbit Systems says innovation key to crowded drone market

PARIS (Reuters) - Israeli defense electronics company Elbit Systems Ltd , is moving quickly to innovate and maintain its edge in a global market in which it faces increasing...

Reuters Business
Red Rooster pulls out of sharemarket listing

Plans to float the company behind Red Rooster on the stock market have turned out to be a turkey...

The Age Business
Not in their interest: The home loan borrowers that have been left out to dry

There is a hidden and worrying risk lurking for a particular set of mortgage borrowers, whose level of financial stress is about to get a whole lot worse...

The Age Business
China's ICBC says checks of loans by big acquirers are routine

BEIJING (Reuters) - Industrial and Commercial Bank of China (ICBC) said on Friday its checks of loans to companies that made overseas acquisitions is routine, following report...

Reuters Business
Pilbara Minerals board approves Pilgangoora

Pilbara Minerals will soon begin constructing its Pilgangoora lithium project after its board this morning gave the green light for the $214 million development...

Business News
Pilbara Minerals board approves Pilgangoora plans

Pilbara Minerals will soon begin constructing its Pilgangoora lithium project after its board this morning gave the green light to begin development...

Business News
Toshiba asks regulators for extension on financial filing

TOKYO (Reuters) - Toshiba Corp said on Friday it has asked regulators for an extension for filing its annual financial statement by over a month as it has not been able to obt...

Reuters Business
Macquarie Securities fined $505,000 for 'reckless' trades

Macquarie's stockbroking arm has been fined $505,000 after the market regulator found it had been "recklessly" trading for a client it s...

The Age Business
Womenswear chain Green with Envy to close

The self-proclaimed "Australian destination for fashion" to shut its doors after almost two decades in business...

The Age Business
Last-ditch bid to save Sunday penalty rates in retail, fast food, hospitality

With the controversial cuts affecting hundreds of thousands of workers due to start taking effect from next weekend, unions are launching a last-minute legal challenge...

The Age Business
Where to now for released insider trader Oliver Curtis?

Financial markets operate on trust. Investors bank on it. And right now Curtis has none of it...

The Age Business
SA bank levy attractive: Wyatt

State Treasurer Ben Wyatt says the South Australian government's controversial bank levy is an attractive option and he'll watch with interest ahead...

Business News
GR Engineering flags lower earnings

Shares in GR Engineering Services took a hit this morning after the company lowered its revenue and earnings outlook for FY17 after expected income from some projects were def...

Business News
Developers offer to pay stamp duty, furniture and rent to sell apartments

A mystery shopping trip to buy an apartment has uncovered a top tier developer offering a whopping $59,400 discount on a $495,000 apartment, about 12 per cent of the purchase...

The Age Business
Mega-developments, Virgin Australia and movie chain attract Chinese scrutiny

Intro here...

The Age Business
NAB hikes interest-only mortgage rates

National Australia Bank has followed its peers by raising its variable rates for interest-only mortgages in a bid to slow down riskier lending...

Business News
Shares open 4pts higher

The Australian share market has edged fractionally higher as gains by most of the big mining and energy stocks, CSL and Telstra outweigh weakness among most of the major banks...

Business News
Amazon's Jeff Bezos shakes up philanthropy, with just one tweet

The tycoon's request to Twitter last week -- asking how he can best use his wealth to help people "right now" -- has set off a frenzy of...

The Age Business
NAB hikes rates on interest-only home loans, cuts others

National Australia Bank has joined rivals interest rates for customers with interest-only home loans, while cutting rates by a smaller amount for people paying down debt on a...

The Age Business
Asian shares flat, still on track for winning week

TOKYO (Reuters) - Asian shares baulked at the starting gate on Friday but remained on track for a weekly gain, while crude oil prices pulled away from this week's...

Reuters Business
Australia's new population milestone sure to reignite debate

Sometime around lunchtime today, Australia's population will hit the 24.5 million mark. What's unusual is the increasing questioning of immigration&a...

The Age Business
Amazon's Jeff Bezos disrupts another frontier, with just one tweet

The tycoon's request to Twitter last week -- asking how he can best use his wealth to help people "right now" -- has set off a frenzy of...

The Age Business
Australia hits a new population milestone

Sometime around lunchtime today, Australia's population will hit the 24.5 million mark. What's unusual is the increasing questioning of immigration&a...

The Age Business
Markets Live: 'Alarming trend' - banks under fire

Shares drop in early trade despite cautious global gains, pulled down by bank stocks as investors fret about another tax...

The Age Business
Hunters Hill and Tiger Bar pubs sold for $65 million

In the biggest pub sale this year, Iris Capital and Gallagher Hotel Management have bought two key Sydney hotels in Hurstville, with a combined value of $65 million,...

The Age Business
Binks site adds to Footscray unit heat

Offshore developer AVIC Group has proposed a $162 million mixed-use estate for the former Binks Ford car yard in Footscray...

The Age Business
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