Market Reports
Australian Market Report: The Australian share market has broken a three-day losing streak as some buyers returned to the market despite negative overseas leads, however volumes were muted with no strong theme directing trading. The benchmark S&P/ASX200 index finished the day up 26.7 points, or 0.47 per cent, at 5,682.1 points, after bottoming out on Thursday to levels not seen since February.... [more]
U.S. Market Report: The S&P 500 closed slightly higher on Friday even though Apple was a drag, as worries about Washington’s latest healthcare legislation proposal eased and investors shrugged off concerns about North Korea. Investors in the broader market were also encouraged by a jump in the Russell 2000 small-cap index, which ended with a record high close.... [more]
North/South Americas Market Report: North and South American markets finished mixed as of the most recent closing prices. The IPC gained 0.36% and the S&P 500 rose 0.06%. The Bovespa lost 0.28%.... [more]
European Market Report: European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.64%, while Germany's DAX was off 0.06%. Shares in France were unchanged with the CAC 40 at 5,213.91.... [more]
Asian Market Report: Asian markets finished lower today with shares in Hong Kong leading the region. The Hang Seng is down 0.82% while Japan's Nikkei 225 is off 0.25% and China's Shanghai Composite is lower by 0.16%.... [more]

Australia News
Australia Has a Taxing Problem When It Comes to Ghost Homes... [more]
Reserve Bank governor Philip Lowe is optimistic Australia's economy is on the path to a new post-mining growth phase, despite the challenges of weak wages growth, record-and-still-rising debt, and looming interest rate increases.... [more]
Thousands of school leavers are missing lucrative job opportunities because they are pushed into university at the expense of apprenticeships — leaving gold-plated positions unfilled. Businesses and youth org­anisations argue the heavy ­emphasis on university is skewing the career paths of young Australians who could be taking up a trade or vocational training.... [more]
The soaring price of electricity is testament to the disastrous failure of a major item on the 1990s agenda of micro-economic reform – establishing a national electricity market. In practice, nothing worked out the way the reformers' economic textbooks told them it would.... [more]
WA Treasurer Ben Wyatt has lashed the Chamber of Minerals and Energy WA for its behaviour in the battle over the McGowan Government’s gold royalty hike, saying the lobby group has consistently failed to produce evidence the tax would damage the industry and needs to put up or shut up. The chamber has taken the lead role in the gold industry’s campaign to axe the plan to raise $392 million over four years by boosting the royalty rate from 2.5 per cent to 3.75 per cent for miners producing more than 2500 ounces of gold a year.... [more]
88 Energy trades 15 million shares in first hour following Icewine update.... [more]
Iron ore and coal prices have continued to tumble as China was hit by a credit downgrade and fears demand for steel was falling.... [more]
Invion Ltd is the best performing stock on the ASX this morning, doubling in value to $0.004 on strong volume of 34 million. There is no news out from the company today.... [more]
Mining giant Rio Tinto will return proceeds from the recent $US2.7 billion sale of its NSW coal operations to shareholders through a share buyback. The company on Friday announced an additional share buyback of $US2.5 billion ($A3.2 billion), comprising of an off-market buyback worth $US560 million for the Australian-listed shares and another $US1.9 billion allocation to its existing on-market buyback program for London-listed shares.... [more]
Bass Metals Limited has successfully raised circa $3.8 million via a placement and an accelerated entitlement offer at an issue price of $0.011 per share. This completes the first stage of the company’s $6 million equity raising, revealed earlier this week.... [more]
Ratings agency Fitch has warned that BHP Billiton’s plan to divest shale gas assets together with any increased level of shareholder payouts could impact the resources giant’s credit profile. Fitch reaffirmed its A+ rating on BHP on Friday following stronger-than-expected results and cash flow generation in FY17, but kept its outlook as ‘negative’.... [more]
Atrum finds coal seams Panorama North. Atrum Coal has intersected multiple thick, near surface anthracite coal seams at Panorama North Anthracite project.... [more]
Underground mining contractor Barminco has appointed former Consolidated Minerals boss Paul Muller as chief executive. He will replace Peter Stokes, who resigned last month after four years in the role, in December.... [more]
The Federal Court in Perth has dismissed an appeal against the National Native Title Tribunal that Sheffield Resources had negotiated as part of its Thunderbird mineral sands mining proposal between Broome and Derby. Traditional owners the Mount Jowlaenga Polygon #2 claimant group appealed against the granting of a mining lease for the company’s project on the Dampier Peninsula on the grounds it failed to negotiate in good faith.... [more]
Papua New Guinea's Government has conceded it lost hundreds of millions of dollars on a controversial deal to buy a stake in Australian-listed oil and gas company Oil Search. PNG Government-owned company Kumul Petroleum Holdings has sold its 10 per cent stake in Oil Search, closing a complicated and costly loan worth $1.2 billion.... [more]
Australian gaming giants Tabcorp and Tatts could be forced to launch a fresh application to have their $11 billion merger proposal approved by competition regulators, jeopardising their ambition of sealing a deal before the Melbourne Cup. Fairfax Media understands the national competition tribunal harbours serious doubts over whether it has the power to reconsider the high-profile Tabcorp-Tatts merger case, after the Federal Court found the original approval decision was potentially flawed and warranted a review.... [more]
Heavy discounting in clothing stores and weak consumer spending are expected to weigh on Solomon Lew's retail empire, Premier Investments, when the company unveils its full-year results on Monday. But the group's star brands, children's stationery chain Smiggle and pyjamas chain Peter Alexander, are expected to have continued strong underlying earnings growth for 2016/17.... [more]
ResApp Health Ltd has received a notice of initial substantial shareholder from Ian Francis Reynolds, who now holds circa 37 million shares for a 5.6% stake. ResApp shares are currently trading around the $0.07 range, down from above $0.30 two months ago, when it revealed some study results.... [more]
The State Government has warned it would consider reimposing legislative safeguards if Commonwealth Bank moved to significantly scale back Bankwest. Bankwest’s 3500-strong WA workforce fear cutbacks when State legislation enshrining the protection of jobs and branches lapses at the end of this month.... [more]
The scandal-plagued CommInsure brand could disappear over time as its new owner introduces new products, AIA Group regional chief executive Bill Lisle has conceded. Speaking after the Commonwealth Bank announced the $3.8 billion sale of its troubled life insurance arm to the Hong Kong listed company, Mr Lisle confirmed fallout from the CommInsure scandal was an issue as the deal was hammered out.... [more]
Telstra eyes simpler 5G and IoT rollouts. Backs changes to what is considered 'low impact'.... [more]
NBN Co chief executive Bill Morrow was paid $3.6 million for a second straight year in 2016/17, but only a third of it was linked to how successfully the national broadband network was rolled out. NBN's annual report shows that Mr Morrow received total remuneration of $3.563 million for the 12 months to June 30, comprising $2.362 million in base salary and fees, short-term incentives of $1.157 million, and $44,000 in super contributions and long-service leave.... [more]
Australia's privacy watchdog is warning former customers of leasing business Amazing Rentals to take precautions against identity fraud in the wake of a data breach that saw personal details from 4,000 people in the Northern Territory and Queensland made available online. The information included drivers licences, credit application forms, Centrelink details and bank statements, the Office of the Australian Information Commissioner (OAIC) said.... [more]
Comment - Patrick Hatch: What business really wants from your loyalty card. Businesses are falling over themselves to put a card in your pocket but there is more to the attraction that just loyalty.... [more]
Comment - Adele Ferguson: Out for the count. Is CBA's financial planning arm next to go? A day after Commonwealth Bank announced the sale of its life insurance arm and flagged the potential spinoff its global asset management business, speculation is rife that it will put up the flag on its financial planning businesses Count Financial and Financial Wisdom.... [more]

World News
Imports of solar panels have harmed US manufacturers, the US International Trade Commission ruled on Friday. The decision was a win for the two US-based producers that brought the case, saying their business had been hurt by a flood of foreign products.... [more]
Home Prices Soar in Disaster-Prone Areas. U.S. counties at the greatest risk of hurricanes, earthquakes, and other catastrophes saw the fastest home-price appreciation, a new report says.... [more]
Phillips 66 Partners LP said on Friday it would buy pipeline and other assets from parent Phillips 66 in a $2.4 billion deal that strengthens the master limited partnership’s presence in the prolific Bakken basin. The acquisition, Phillips 66 Partners biggest to-date, sent the company’s shares up 4.8 percent in morning trading, on pace for their best intra-day percentage gain in over a year.... [more]
Toys “R” Us Inc.’s bankruptcy filing moves the retail loan default rate past 7% and could drive it past the 10% mark by year-end, according to the latest Fitch Ratings data. The loan default rate was more than 5% in July and August, according to Fitch.... [more]
T-Mobile US Inc is close to agreeing tentative terms on a deal to merge with Sprint Corp, people familiar with the matter said on Friday, a major breakthrough in efforts to merge the third and fourth largest U.S. wireless carriers. The transaction would significantly consolidate the U.S. telecommunications market and represent the first transformative U.S. merger with significant antitrust risk to be agreed since the inauguration of U.S. President Donald Trump in January.... [more]
Facebook releasing 3,000 Russian-bought adverts to Congress... [more]
Facebook Inc has dropped its plan to issue Class C stock... [more]
The eurozone economy ended the third quarter of the year on a strong note, a survey has indicated. The IHS Markit composite purchasing managers' index (PMI) suggested private businesses grew faster than expected in September.... [more]
UK business groups have called for progress in the Brexit talks after Prime Minister Theresa May made offers on EU funding and citizens rights. Mrs May also suggested a transition period of about two years during which trade should continue on current terms.... [more]
London deemed Uber unfit to run a taxi service on Friday and stripped it of its license to operate from the end of next week in a major blow to the U.S. firm and 3.5 million users in one of the world’s wealthiest cities. The capital’s transport regulator said the Silicon Valley technology giant’s approach and conduct was not fit and proper to hold a private vehicle hire license and it would not be renewed when it expires on Sept. 30.... [more]
London's decision to deny Uber a license has produced howls of protest from jilted fans and wild cheers from critics. Twitter and Facebook were flooded with comments after the decision was announced on Friday.... [more]
The number of overseas visitors to the UK topped four million in July for the first time, official figures show. Travellers to the UK spent £2.75bn on their visits, the Office for National Statistics (ONS) said, another record.... [more]
Time Inc said on Friday it was looking to sell several assets, including Time Inc UK, and warned it experienced more-than-anticipated softness in both print and advertising revenue during the current quarter. The publisher, which said in April that it would not sell itself, said assets identified for sale include Time Customer Service and a majority stake in the Essence magazine.... [more]
The head of a G4S-run immigration removal centre, which was the subject of an undercover BBC Panorama investigation over allegations of bullying and abuse, has resigned with immediate effect. Ben Saunders, the director of Brook House immigration removal centre (IRC) near Gatwick airport, was placed on administrative leave earlier this month.... [more]
What happens to a business empire when its owner dies? Thursday's passing of Liliane Bettencourt, the billionaire heiress of L'Oreal founder Eugene Schueller, has thrown the future of the world's leading cosmetics company up in the air.... [more]
Pladis, the Turkish company that owns Godiva chocolate and McVitie’s biscuits, is considering making an offer for Nestle’s U.S. confectionery assets, which could be valued at around $2 billion, as part of its international expansion plans.... [more]
The German economy is a finely-tuned machine fueled by competitiveness and efficiency. A closer look reveals wear and tear in a vital area: Infrastructure.... [more]
Volkswagen has not ruled out breaking with company tradition and appointing an outsider as its next chief executive, Chairman Hans Dieter Poetsch said. Current CEO Matthias Mueller, whose contract runs through 2020, has been with the Volkswagen (VW) group for nearly 40 years, including in senior roles at premium divisions Audi (NSUG.DE) and Porsche.... [more]
Diesel's disgrace brings hybrids-for-all in race to electrify. Carmakers squeezed between carbon emissions cuts and falling sales of fuel-efficient diesels have used the Frankfurt auto show to spotlight a future generation of electric cars that will largely come too late to help them out of their bind.... [more]
Ryanair crisis exposes low-cost scramble for senior pilots... [more]
China rebuffed the S&P Global Ratings downgrade of its sovereign credit rating, calling it a "wrong decision" that ignores sound economic fundamentals and development potential. The government is fully capable of maintaining financial stability if it remains prudent on lending, strengthens supervision, and controls credit risk, the Ministry of Finance said in a statement Friday, a day after S&P cut China’s sovereign rating for the first time since 1999.... [more]
Aim-listed Central Asia Metals has unveiled a $402m (£296m) takeover of a zinc miner in Macedonia, hailing it as the “perfect next step” to grow its operations. The company, which operates a copper mine in Kazakstan, is hoping to diversify by acquiring Lynx Resources from Bermuda-based fund Orion Co-Investments III and Swiss firm Fusion Capital.... [more]
India Finance Minister Says Don’t ‘Panic’ Over Slowdown... [more]
Opinion - Michael Brush: Insiders love these 14 retail stocks hit by the wrecking ball, It’s no fun being a contrarian when investors are fleeing retail stocks on worries about the damage is doing to this sector. Case in point: Late last May I liked Advance Auto Parts AAP, +2.04% at around $134, on weakness that had taken the stock down 21% for the year at that time, compared to a 7% gain for the S&P 500 SPX, +0.06% .... [more]
Opinion - Tyler Cowan: London's Uber Ban Is a Big Brexit Mistake. Why would tech companies want to invest in the U.K. and subject themselves to such a slap in the face?... [more]