ASIC says music streamer Guvera could seek another exchange
ASIC Commissioner John Price The Australian Securities and Investments Commission says there is nothing to stop music streaming group Guvera from seeking a listing on a different exchange in Australia such as the NSX or Sydney Stock Exchange.In an interview with The Australian Financial Review, ASIC commissioner John Price said: "They could seek listing on a different venue, that is correct. "Obviously, that may well entail some disclosure changes beca..>> view originalRio Tinto restructures executive team
NSW govt cracks down on council graft
Measures to reduce graft and dodgy activities among NSW councils have been introduced to parliament, with councillors now banned from making some planning decisions which may benefit themselves or relatives.Political donations have also been limited and individuals cannot accept more than $2500 from the same benefactor annually, while parties cannot take more than $5800 from one donor, NSW Local Government Minister Paul Toole said."Councils don't exist as a vehicle for dishonest councillors to u..>> view originalMiners upbeat after tough times
Gina Rinehart (right), with her daughter Ginia, warns that the greatest challenge for Australia's mining industry today is "onerous and expensive" government regulation. Photo: Philip Gostelow Australian mining leaders believe commodity prices have bottomed out despite ongoing tough conditions but iron ore magnate Gina Rinehart warns the industry faces another threat.For the first time in three years, the mining industry has an upbeat outlook, with 43 per ce..>> view original7-Eleven: West End store owner given record fine for exploiting workers
7-Eleven: West End store owner given record fine for exploiting workers Updated June 21, 2016 16:41:08 The owner of a Brisbane 7-Eleven store who systematically exploited workers has been fined more than $400,000, the largest penalty imposed in Australia by a court after action by the Fair Work Ombudsman. Key points:12 employees underpaid a total of $82,661Owner provided inspectors with false records to cover-up underpaymentsJudge found "no suitable credible expression..>> view originalRupert Murdoch's News Corp buys APN regional papers for $37 million
APN chief Ciaran Davis said the remaining radio and outdoor media were terrific for advertisers. Photo: Louie Douvis APN News & Media has sold its regional newspaper business to its own shareholder, News Corp, for $36.6 million. However, major shareholders have expressed surprised at the price, given it was only two times annual earnings. APN's shares reached $4.90 on the news and closed at $4.75. APN recently completed a share consolidation that reduced the ..>> view originalCampaign catchup: negative gearing sends Morrison into overdrive
How are we to define this longest of campaigns on the shortest of days but with two little words: “Negative gearing”. The hot-button issue was back in the headlines on winter solstice after the Australian published independent modelling of Bill Shorten’s crackdown that shows it will cut housing prices by an average of 4% nationwide. The analysis found property investors would be worse off by $20,000 over a decade on a $500,000 property, with Labor’s proposed changes to negative gearing and capi..>> view originalASX posts gain in market calm ahead of Brexit vote
The healthcare sector was one of the best performers on the ASX on Tuesday, regaining Monday's lost ground. Photo: James Davies The Australian sharemarket scratched out a gain on Tuesday as market participants position themselves ahead of Thursday's Brexit vote but it was a day of mixed fortunes for the top 200 stocks.An early strong start spluttered in early afternoon trade before recovering to an 18 point or 0.3 per cent gain in the S&P/ASX 200 index to 527..>> view originalA wrong turn for China could lead to economic stagnation
China is at a crossroads where a wrong turn could lead to economic stagnation, says the chief China economist for Citigroup.Li-Gang Liu says without much-needed debt restructuring and privatisation of the state-owned enterprises that dominate the country's stock exchanges, China would simply "muddle through", relying on growth to pay down corporate debt until the economy stalled.The alternative involved stake sales to employees and domestic retail and foreign institutional investors to clean up..>> view originalAustralian consumer confidence is surging
Australian consumer confidence is at the highest level seen since November 2013. The latest ANZ-Roy Morgan consumer confidence index surged by 2.1% last week, leaving the index at a 2.5-year high of 118.8. It is now well above the series long-run average of 112.8, and provides an optimistic outlook for household spending in the months ahead. The chart below shows movements in the index over the past four years. Given recent financial market volatility and the upcoming federal election, the sur..>> view original
Tuesday, June 21, 2016
ASIC says music streamer Guvera could seek another exchange and other top stories.
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