NorgdomBusiness
Stocks Soar by 11% After Aid to Banks
1pointsThe Dow Jones industrial average opened 400 points higher and never looked back, led by big gains in financial stocks. At the close, the blue-chip index was up more than 935 points or 11.1 percent.
Australian dollar horror show
1pointsSenior economist and fixed income strategist with RBC Capital Markets Su Lin Ong tells Business Spectator's James Frost what's behind the rapid devaluation of the Australian dollar.
Jitters as China hit by metals fatigue
1pointsAUSTRALIA'S best shield from global economic turmoil - the high value of its commodity exports - is under threat with news that China has told suppliers to slow iron ore shipments and predictions that iron ore and coal prices could fall by 20%.
CBA to buy BankWest
1pointsThe Commonwealth Bank (CBA) says it will buy Perth-based BankWest. BankWest's future had been uncertain after its UK parent company HBOS had to be bailed out by the British Government.
EBay CEO embraces bold changes to spur growth
1pointsStaff cuts and new acquisitions will help eBay Inc compete in the long-term, while new incentives in its core auctions business will spur consumer shopping this holiday season, eBay's chief executive said.
Stocks to watch
1pointsStocks to watch on the Australian stock exchange today, including BankWest and Rio Tinto.
ASIC bans all short-selling
1pointsTHE Australian Securities and Investments Commission has dramatically widened its crackdown on short-selling, banning the practice across the entire sharemarket for at least a month as a "circuit breaker" to restore confidence.
Facebook gifts makes an estimated US$34 million
1pointsThis article talks about the way in which a company in the US has calculated on the sales rate of digital gifts offered by Facebook and how much revenue it achieves through this consumer product.
Billions lost as shares plunge
1pointsAUSTRALIAN shares have been hammered at the start of trade this morning after the doom and gloom on Wall St continued overnight.
Federal Reserve rescues AIG in $85-billion plan
1pointsIn the largest single financial intervention in the US's history the Federal Reserve will loan insurance giant American International Group Inc. $85 billion to finance the company's liquidation over the next two years.
Fairfax Classified Ads Fall as Much as 40%
1pointsClassified advertising at some of Fairfax Media Ltd.'s largest metropolitan newspapers in Australia has declined by as much as 40 percent this year, the Australian newspaper said, citing a report from broker Goldman Sachs JBWere.
Crikey launches blogging network
1pointsPrivate Media Partners, the company behind Australia’s leading political subscription email service Crikey has soft launched the Crikey blog network.
Don't bank on more cuts, says RBA
1pointsTHE Reserve Bank has signalled that its latest interest rate cut - the first in seven years - could be a one-off as a plummeting Australian dollar injects new uncertainty into the economy.
Invest in your favorite bands
1pointsA new business model allows fans to invest financially in their favorite bands beyond simply buying CDs. As well as the CD, investors will be credited in the liner notes, get priority for event tickets, and receive a share of profits.
Fairfax Media to cut 550 jobs
1pointsFairfax Media will axe 550 staff in Australia and New Zealand, or about 5% of the company's total, as part of a plan to bolster profitability.
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