Australian Business & World Finance News - Yahoo!7 Finance

Shale gas faces hurdles in Oz: report

Wed, 16 May 2012 09:21:21 +0000

Shale gas might be booming in the United States but it faces many hurdles before it can be commercially viable in Australia.Industry consultants KPMG said extracting shale gas was currently too expensive ...

E Timor unveils disputed gas field pipeline

Wed, 16 May 2012 09:16:41 +0000

The government in East Timor has shown off a European-built pipeline which it says can be used to send natural gas to the country from the disputed Greater Sunrise Field off the north-west coast of Australia.East ...

Call for urgent probe into Trio super collapse

Wed, 16 May 2012 09:01:00 +0000

A parliamentary committee has recommended authorities investigate the collapse of Trio Capital after the biggest superannuation fraud in Australian history.A total of $176 million is either lost or missing ...

Construction hurdle for new school, housing

Wed, 16 May 2012 08:44:43 +0000

The construction of a primary school and government housing development in Canberra has halted, with the company behind the projects going into administration.The construction arm of the property firm ...

Local shares rocked by European woes

Wed, 16 May 2012 08:40:52 +0000

Stocks have suffered their worst drop this year as escalating financial and political turmoil in Europe sends fear through the markets.Traders called it an ugly day on the market after shares fell to a ...

$A down one US cent as Greek poll looms

Wed, 16 May 2012 08:23:15 +0000

The Australian dollar is extending its fall below below parity with the US dollar as renewed worries about debt-stricken Greece weighs on the currency.Greece is expected to hold new elections, possibly ...

A Greek exit: How would it work?

Wed, 16 May 2012 08:08:24 +0000

Imagine for a moment you live in Greece.You wake up one morning to the news your country is no longer part of the eurozone.You were meant to buy groceries and pay bills today, but what happens to your ...

Westfield under fire again over cleaners

Wed, 16 May 2012 07:46:24 +0000

Westfield Group has again come under fire over the treatment of low-paid shopping centre cleaners hired through third parties.Community service provider Uniting Care said cost-cutting was being imposed ...

Aust Stocks plunge on Greek woes

Wed, 16 May 2012 07:44:10 +0000

Australian stocks plunged to two-month lows, led by the resources sector, with $32 billion wiped from the value of the market as Greece's problems kept investor confidence at depressing lows.The benchmark ...

BHP won't spend $80bn on expansion: Nasser

Wed, 16 May 2012 07:31:13 +0000

BHP Billiton chairman Jacques Nasser says the global miner will not spend the $80 billion on growth projects that it said it would, stepping back from previous commitments.Mr Nasser, speaking in Sydney, ...

Loan approvals up 5.2% in March

Wed, 16 May 2012 07:07:28 +0000

Total loan approvals rose 5.2 per cent in March, despite a dip in mortgage lending.The Australian Bureau of Statistics (ABS) on Monday said seasonally-adjusted personal finance commitments rose 1.1 per ...

CSR says housing recovery hard to predict

Wed, 16 May 2012 07:02:07 +0000

Building products maker CSR expects Australia's housing construction market to remain bleak for the foreseeable future and says it is difficult to predict the timing of a recovery.The company estimates ...

BHP chairman lashes 'high cost' Australia

Wed, 16 May 2012 06:57:19 +0000

The chairman of BHP Billiton says the company's Australian operations are facing pressure from high production costs, difficult industrial relations, high taxes and global instability.In a speech to the ...

Euro zone worries push bond prices higher

Wed, 16 May 2012 06:46:10 +0000

Australian bond future prices inched higher on continued worries about the euro zone but remain just below their record highs set just a day ago .At 1630 AEST on Wednesday, the 10-year bond futures contract ...

Fears grow about spread of seismic exploration

Wed, 16 May 2012 06:40:38 +0000

Conservationists and commercial fishermen are calling on the Federal Government to reverse its decision to allow oil and gas exploration in some areas off the Northern Territory coast.Federal Resources ...

Stocks to watch at close on Wednesday

Wed, 16 May 2012 06:30:13 +0000

Stocks to watch on the Australian stock exchange at close on Wednesday:BHP - BHP BILLITON LTD - down $1.37 - or 4.04 per cent - at $32.49BHP Billiton chairman Jacques Nasser says the global miner will ...

Aust shares close

Wed, 16 May 2012 06:25:30 +0000

Australian stocks closed at a two-month low, after one of its sharpest one-day percentage falls this year.The local bourse took its lead from much weaker European and US markets overnight, which dropped ...

Asia software piracy hits firms for $21b

Wed, 16 May 2012 06:15:37 +0000

An industry report says software piracy in Asia cost businesses more than $US20 billion ($A20.18 billion) in lost sales last year.The Business Software Alliance's study released on Wednesday said consumers ...

Virgin uses biodiesel at Brisbane airport

Wed, 16 May 2012 06:12:17 +0000

Virgin Australia says it has started trialling the use of biodiesel to power some ground vehicles at Brisbane Airport.The fuel for the eight-week trial will contain 80 per cent conventional diesel and ...

GE buys Aussie equipment company

Wed, 16 May 2012 05:47:05 +0000

US giant General Electric (GE) aims to increase its presence in the booming resources sector through a $700 million friendly takeover for Australian mining equipment-maker Industrea.Industrea shares jumped ...

Council adds to doubts for Brickworks traders

Wed, 16 May 2012 05:45:17 +0000

Brickworks Markets traders have indicated a lease arrangement being offered by West Torrens Council in Adelaide would fail to give them the long-term certainty they want.But the council also has made clear ...

Wages growth slows slightly in March qtr

Wed, 16 May 2012 05:32:12 +0000

Wages growth cooled slightly in the March quarter, but not enough to impact any interest rate deliberations by the Reserve Bank of Australia (RBA).Total hourly rates of pay, excluding bonuses, rose by ...

Japanese firm to pay $2bn for Browse gas stake

Wed, 16 May 2012 05:17:34 +0000

A Japanese company, Japan Australia LNG, is set to take a stake in the proposed Browse gas development in WA's Kimberley in a $2 billion deal.Woodside has accepted the company's offer for a 14.7 per cent ...

Job insecurity the 'new frontier' for unions

Wed, 16 May 2012 05:10:35 +0000

Union leaders are describing the rise of insecure jobs as the new frontier in the battle for workers' rights and are promising to fight back.Over the past few decades there has been a significant shift ...

Power bill relief for pensioners

Wed, 16 May 2012 04:33:54 +0000

The Premier, Lara Giddings, has announced a boost to electricity concessions for Tasmania's 78,000 pensioners and healthcare card holders.They will each receive an additional $150 under a plan to be detailed ...