Morning business roundup

Join over 8,000 subscribers who receive markets and economic news delivered straight into their inbox every morning. 

Read a sample of the Morning Business Roundup from today.

Market Reports

  • Australian Market Report: The benchmark S&P-ASX 200 index finished Tuesday up 47.4 points to 6814.2, while the all ordinaries gained 42.4 points to 6914.1..... [more]

  • U.S. Market Report: The S&P 500 and the Dow Jones indexes retreated from record levels on Tuesday as dour forecasts from Home Depot and Kohl’s eroded confidence that the U.S. consumer will support the economy..... [more]

  • North/South Americas Market Report: North and South American markets are mixed. The IPC is higher by 0.24%, while the Bovespa is leading the S&P 500 lower. They are down 0.68% and 0.07% respectively..... [more]

  • European Market Report: European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.22% and the DAX rose 0.11%. The CAC 40 lost 0.35%..... [more]

  • Asian Market Report: Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 1.55% and the Shanghai Composite rose 0.85%. The Nikkei 225 lost 0.53%..... [more]

Australian Business News

  • Consumer confidence slipped during the weekend according to an ANZ survey that suggests inflation expectations are at a three-month low amid concerns about the outlook for the Australian economy..... [more]

  • Government to bring forward infrastructure spending to help stimulate the economy.... [more]

  • Treasurer Josh Frydenberg will today signal a push to keep older people in work longer, saying they may need to learn new skills in order to stay in the jobs market..... [more]

  • ‘Keep working’: Ageing population an economic time bomb, warns Treasurer Josh Frydenberg.... [more]

  • Home buying intentions swing higher, while retail posts modest improvement, CBA says.... [more]

  • Merging of Brisbane and Gold Coast powers on, but 'don't blame developers' for growing pains.... [more]

  • Australia's banks say they are making major changes to the way debt can be sold to debt collection agencies, after "very disturbing" reports of poor practices in the industry..... [more]

  • A NAB branch manager has been spared jail over a scam in which his uncle collected $56,995 in mortgage commissions related to the bank's so-called introducer program..... [more]

  • The Commonwealth Bank has pleaded guilty to 87 criminal charges of "hawking" life insurance through unsolicited phone calls..... [more]

  • Revelations that scandal-prone financial giant AMP has continued to knowingly charge dead customers have been called "confronting and disappointing" by the head of Australia's corporate watchdog..... [more]

  • AMP is trying to find 43,000 shareholders with whom it has lost contact, in the hopes of paying out $13 million in unclaimed dividends. Many of the investors provided AMP with contact details that are no longer valid and AMP says it has exhausted all means to contact them..... [more]

  • South Australia's big Tesla battery's output and storage will increase by 50 per cent, with help from the State and Federal Government..... [more]

  • Maiden resource for McDermitt makes it a significant sedimentary lithium deposit with plenty of expansion potential.... [more]

  • Energy giant Alinta is threatening an early closure of one of Australia's biggest coal-fired power stations, a move that is likely to put it on a collision course with the Federal Government..... [more]

  • Red River Resources director shows confidence in Thalanga Zinc Project strategy.... [more]

  • Woodside Petroleum has laid out plans to triple its gas and oil reserve base which will come from more than $US36 billion worth of projects in Australia, Senegal and Myanmar over the next seven years..... [more]

  • K2fly shares surge after signing Rio Tinto contract to implement resource reporting system.... [more]

  • Qantas sets $2bn annual spending target.... [more]

  • Shares in the a2 Milk Company have surged to a two-month high after the Kiwi dairy producer upgraded its full-year outlook on strong China and US campaigns..... [more]

  • Construction giant Lendlease is expected to face questions about the sale of its engineering business at is annual general meeting on Wednesday, amid mounting speculation a deal for the troubled unit could soon be announced..... [more]

  • Telstra has pledged to buy back thousands of dollars in debt, improve credit checks, and discipline staff in an effort to rebuild trust with vulnerable customers who feel ripped off..... [more]

  • Kogan says it has enjoyed "strong growth metrics" over the first four months of the financial year, with gross profit for October rising more than 22 per cent..... [more]

  • WiseTech Global shares have slid more than six per cent after the global logistics software company reaffirmed its FY20 guidance..... [more]

  • The winding back of the controversial ‘robo-debt’ scheme will require a staffing boost for Centrelink, the public sector union says. The Department of Human Services has reportedly told staff to conduct further investigations to determine whether a debt exists, rather than relying on the robo-debt system that uses tax office and Centrelink data..... [more]

  • Property developer takes Victorian Planning Minister to Supreme Court.... [more]

  • Opinion/Comment - Alan Kohler and Liz Hobday: There is plenty of good economic news so why is the outlook so gloomy? There are things going on in the Australian economy right now that are not just unprecedented, they are downright weird..... [more]

World Business News

  • U.S. President Donald Trump said on Tuesday that he would raise tariffs on imports of Chinese goods if no trade deal is reached with Beijing to end a tit-for-tat trade war that has roiled markets and damaged growth worldwide..... [more]

  • Bitcoin halving event ‘may not drive up price’. Crypto analyst Willy Woo expects bears to remain in control despite block reward reduction in May 2020.... [more]

  • Dividends paid by companies across the world to shareholders hit a record in the third quarter, according to a study released Monday, although further growth was likely to be weak..... [more]

  • U.S. homebuilding rebounded in October and permits for future home construction jumped to a more than 12-year high, pointing to strength in the housing market amid lower mortgage rates..... [more]

  • The US economy is losing billions of dollars because foreign students aren't enrolling.... [more]

  • A US congressional committee on Monday asked for a briefing on a Google project to modernize healthcare while giving the internet titan access to millions of people’s medical data..... [more]

  • The head of Pacific Gas & Electric Corp. told angry California lawmakers Monday that the nation’s largest electric utility wasn’t fully prepared for the effects of its unprecedented outages last month even as it plans to shut off power to more than half a million people again this week to prevent wildfires..... [more]

  • The state of California is taking aim at GM (GM), Chrysler, Toyota, Nissan and other automakers that are aligning with the Trump administration in its battle over emissions rules. California issued a statement late Monday saying that as of January the state would only buy vehicles from automakers that recognize the California Air Resources Board's authority to set tough greenhouse gas emissions standards for vehicles..... [more]

  • One month after WeWork's former CEO, Adam Neumann, received a massive payout despite all but running the company into the ground, more than 12,000 global staffers are bracing for mass layoffs this week..... [more]

  • Retail heavyweights Kohl’s Corp and Home Depot Inc sent a shiver through Wall Street on Tuesday, lodging weak results and annual forecasts that cast more doubt on the health of the U.S. consumer ahead of the crucial holiday shopping season..... [more]

  • New EU Commission back on course for December start.... [more]

  • EasyJet relaunches package holiday business.... [more]

  • Celebrity chef Jamie Oliver has launched a new mid-range restaurant chain just six months after his UK dining empire collapsed..... [more]

  • Manchester City brought in a record £535.2m last season, the club's 2018-19 annual report says. It was City's 11th successive year of revenue growth and closes the gap on local rivals Manchester United, the Premier League's richest club..... [more]

  • Tata Steel plans to cut as many as 3,000 jobs across its European business in another bid to come to terms with a "severe" international steel market. The company wants to focus on higher-value products, it said, adding there would be no plant closures..... [more]

  • Luxury goods group LVMH (LVMH.PA) aims to grab a greater slice of tourist spending in Paris as of next April when it relaunches La Samaritaine, a 150-year-old department store that will house a hotel and shops and rival the likes of Galeries Lafayette..... [more]

  • Renault’s interim chief executive Clotilde Delbos said on Tuesday the carmaker did not rule out pulling out of some products or markets as part of a review of mid-term goals..... [more]

  • China's shoppers are still going strong.... [more]

  • Investors are falling over themselves to buy into Alibaba's debut on the Hong Kong stock market. China's biggest e-commerce company will stop taking orders from retail investors for its $13 billion share sale later on Tuesday after seeing stronger-than-expected demand, a person familiar with the matter told CNN Business..... [more]

  • The Indian government is keen to meet this year’s annual disinvestment target of one trillion rupees (US$ 13.9 billion) and aims to sell the ailing state-owned carrier Air India and petroleum refiner Bharat Petroleum Corporation Limited among other state-owned enterprises..... [more]

  • Aramco IPO banks face pared payday of $90 million or less.... [more]