The Australian Dollar opens higher today at 0.9120 against the greenback. As expected, the US Federal Reserve left interest rates unchanged at the current setting of zero to 0.25 per cent. The Aussie moved to an offshore high at time of writing of 0.9143. During the domestic session on Wednesday, the unit slid down to 0.8970 as retail trade fell 0.2 per cent in September. The disappointing number does not support the case for a third consecutive hike in interest rates by the Reserve Bank of Aust...
Kraft Foods Inc, which has secured a $9 billion bridge loan backing an expected bid for UK confectioner Cadbury, has been contacted by more banks keen to join the deal, senior bankers said on Wednesday.
Kraft Foods Inc faces a tougher task winning over Cadbury Plc shareholders after disappointing results reinforced the view that it will formalize its existing offer for the British chocolatier next week rather than present a higher bid.
The U.S. services sector grew modestly for a second month in a row in October and private sector employers cut jobs at the slowest pace in more than a year, adding to signs the economy is crawling back to health.
Molson Coors Brewing Co said beer volumes continue to decline in the current fourth quarter as consumers remain focused on value, pushing shares down 7 percent despite a better-than-expected quarterly profit.
The general insurance industry may not be able to cope with the increased frequency and severity of floods and typhoons brought about by climate change, the Association of British Insurers (ABI) said on Wednesday.
Freed British mercenary Simon Mann said his homecoming was the most wonderful he could have imagined, after earlier expressing relief that his West African coup attempt had failed.
Peterborough Renewable Energy Limited (PREL) has been granted approval to build a waste recycling and green power plant that could eliminate the need for landfill sites in the area, the government said on Wednesday.
The abruptly scrapped sale of GM's Opel is not the first example of a deal born of the financial crisis being undone by the economic recovery, and probably won't be the last.
U.S. food group Kraft will be willing to pay only 800 pence a share for Cadbury after Kraft's CEO cautioned on overpaying for the British confectionery group, Investec Securities said on Wednesday.
The U.S. services sector, which represents about 80 percent of U.S. economic activity, grew for the second consecutive month in October, while the labor market also showed signs of improvement in data published on Wednesday.
Britain's Unite union on Wednesday welcomed the decision by General Motors not to sell its European Vauxhall unit, saying it was a far better deal and that it expected the government to offer financial support.
The U.S. services sector, which represents about 80 percent of U.S. economic activity, grew for the second consecutive month in October, while the labor market also showed signs of improvement in data published on Wednesday.
Technocrats and some existing ministers will be included among Afghan President Hamid Karzai's new government within the next three weeks, a spokesman said on Wednesday, but his main rival ruled out taking any part.
German and Russian leaders seethed and unions tore up a deal to cut costs in protest at General Motors' completely unacceptable decision to keep Opel, its European unit, after months of talks.
Britain's top shares added 0.9 percent by midday on Wednesday, boosted by gains in retailers Marks & Spencer (MKS.L) and Next (NXT.L), which posted forecast-beating results, while financials and miners also rose.
The dollar fell broadly on Wednesday as firmer equity and commodity prices buoyed demand for the euro and perceived riskier currencies, while traders braced for a policy decision from the Federal Reserve.
The Australian Dollar opens at US90 cents this morning after another volatile 24 hours. The Aussie hit an intraday high yesterday of 0.9090 on the back stronger gold and commodity prices before a rapid half-cent decline moments before the RBA's 2:30pm cash rate announcement. As expected, the central bank hiked rates by 25 basis points with governor Mr Glenn Stevens saying economic conditions in Australia have been stronger than expected and measures of confidence have recovered.
Kraft Foods Inc posted weaker-than-expected quarterly revenue and cut its full-year sales forecast on Tuesday ahead of a deadline to make a formal bid for British chocolatier Cadbury Plc .
Remnants of a bygone world, these colonial memorials are places of nostalgic luxury where century-old traditions are preserved with meticulous care. Their Victorian flavour is reminiscent of Agatha Christie stories (actually, the famous writer stayed in some of them herself).
U.S. stocks stumbled on Tuesday after Morgan Stanley downgraded the semiconductor sector and a shake-up at two big British banks prompted investors to sell financial shares.
U.S. stocks stumbled on Tuesday after Morgan Stanley downgraded the semiconductor sector and a shake-up at two big British banks prompted investors to sell financial shares.
