Business

US economy added 255,000 jobs in July

The US economy added a stronger-than-expected 255,000 jobs in July, fuelling speculation that interest rates could rise before the end of the year. The figure was below June’s upwardly revised figure of 292,000 jobs, but was far higher than analysts’ forecasts of between 175,000 and 180,000. The US unemployment rate remained unchanged at 4.9%. Dennis de Jong from UFX.com said ...

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The sharemarket retreated from its 11-month high on Friday

The sharemarket retreated from its 11-month high on Friday, slipping just below the 5500 level it breached for the first time since August as investors took a breather in a strong two-week long rally. The S&P/ASX 200 ended Friday trade down 14 points ot 0.3 per cent to 5498.2 points, but up 69 points or by 1.3 per cent for the week. The All ...

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Australian firms enjoyed strong growth in sales and profits in the second quarter

Australian firms enjoyed strong growth in sales and profits in the second quarter, while subdued price pressures pointed to another soft reading for inflation, a survey showed on Thursday. National Australia Bank’s quarterly survey of more than 910 firms showed its index of business conditions rose one point to +11 in the second quarter, well above the long-run average and ...

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Supermarket recycling business liquidated to escape $800,000 worker death fine

The operators of a prominent recycling company have sought to escape massive penalties for the death of an employee after shutting down the business and resurrecting it under another name. AB Recycling – listed as a cardboard recycler for Coles, IGA, Foodworks, Bunnings and Westfield – was found guilty of grave safety violations that led to the 2014 death of worker Steve Bower. A slew of deadly defects ...

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Bank dividends ‘simply unsustainable’: Perpetual’s Anthony Aboud

The dividends paid by Australia’s big banks are too high, and the most obvious response to a likely toughening in capital rules would be for banks to cut payouts to shareholders, Perpetual portfolio manager Anthony Aboud says. The Big Four’s record of paying juicy dividends has made them a hit with retail investors, but a new note from Mr Aboud argues the lenders are materially over-paying dividends ...

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young professionals living in vans to save money

Housing can be a major money suck. Take San Francisco, where the median rent for a one-bedroom apartment is about $3,500 a month. Prices in my home base, New York City, are just as egregious: $3,300 for a one-bed. A handful of professionals seem to have figured out a creative solution to this real estate conundrum: Rather than settling into ...

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Getting to know you: the robot assistant who can second-guess your every need

It’s here – a world in which helper robots live with us, get us through the day, and yes, become our trusted friend. Science fiction is becoming science fact. As sci-fi writer William Gibson has apparently noted: “The future is already here – it’s just not very evenly distributed.” The demand for helper robots is booming, and academia, industry and ...

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Virgin Australia to reduce capacity by 5%

Edited by Nelly Tawil The March quarter brought an $18.6 million underlying loss before tax for Virgin Australia who said it remained on track to post a profit for the full year. However Virgin now expects to report a total underlying profit before tax of $30 million to $60 million this financial year, after reporting an underlying profit before tax ...

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Warren Buffett:Low rates help business, hurt savers

Investment doyen Warren Buffet said ultra low interest rates around the world were great for the financial returns of companies, but he lamented how easy money policies of central banks “destroyed” pensioners and other savers. “With practically zero interest rates, American business is earning terrific returns on tangible equity,” Mr Buffett said. “They have not suffered even as people on ...

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Australian rental prices are dropping

Edited by Nelly T. Compared to a year earlier Australian capital city rental rates have dropped for the first time in at least two decades. Capital rents have fallen by 0.2% in the year to March according to the latest CoreLogic RP Data leaving the national average at $486 per week. Housing rents have fallen by 0.5% averaging at about ...

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