Market Reports

• Australian Market Report: Supermarket and banking stocks have pulled the Australian share market lower, with international trade hostilities weighing on the indices. The benchmark S&P/ASX200 index was down 20.5 points, or 0.33 per cent, to 6,169.5 points on Thursday, while the broader All Ordinaries index was 20.2 points, or 0.32 per cent, lower at 6,276.8 points..... [more]

• U.S. Market Report: The Dow Industrial Average was the last among Wall Street’s main indexes to regain record territory on Thursday, as investor concerns over U.S.-China trade spat cleared away and focus shifted to the strength of the economy..... [more]

• North/South Americas Market Report: North and South American markets are mixed. The S&P 500 is higher by 0.81%, while the IPC is leading the Bovespa lower. They are down 0.40% and 0.12% respectively..... [more]

• European Market Report: European markets finished broadly higher today with shares in France leading the region. The CAC 40 is up 1.07% while Germany's DAX is up 0.88% and London's FTSE 100 is up 0.49%..... [more]

• Asian Market Report: Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.26% and the Nikkei 225 rose 0.01%. The Shanghai Composite lost 0.06%..... [more]

Australian Business News

• Australiandollar could surge in US-China trade war at the cost of the economy, RBA warns. The worst case scenario of a global trade war is that Australia's exchange rate could surge by 6 per cent, but the nation's economy could shrink by 2.5 per cent..... [more]

• Frustrated investors are shifting their focus from many of Australia’s largest and most popular companies as years of underperformance take a toll. New research by CommSec has found that just 33 per cent of shares traded by self-managed super funds are from the ASX 20 index of blue chip stocks, down from 40 per cent a year ago..... [more]

• Time to rethink share dividends as old favourites get overtaken. Aussie investors love share dividends, but what’s the point of getting a handy income if you’re losing twice as much money when a share price sinks? It may be time to think differently..... [more]

• Solid lift in August spending..... [more]

• The Reserve Bank of Australia (RBA) has roared back into profitability, with a $3.8 billion profit last year. It represents a $4.7 billion turnaround from last year's $900 million loss..... [more]

• It’s time to whip out the champers and toast the Federal Government. The half-yearly rate rise in pensions and allowances will kick in on Thursday..... [more]

• ING lifts investor mortgage rate by 0.15pc.... [more]

• The Australian Securities and Investments Commission has stopped promoters of initial coin offerings and funds that invest in crypto-assets from raising money from retail investors. In a toughening of its stance on risky investments, the regulator has taken a series of actions to stop several proposed initial coin offerings (ICO), or token-generation events, that were pitched at retail investors..... [more]

• Banking royal commission: Insurance claims in disaster zones remain the focus.... [more]

• Tribune Resources has finally cashed out its gold holdings at the Perth Mint to fund a $175 million special dividend to its long-suffering shareholders. The surprise announcement came just four days after an adverse ruling by the Takeovers Panel, which said Tribune shareholders remained in the dark about the ownership of three major shareholders accounting for 59 per cent per cent of the gold miner..... [more]

• Governments should investigate using tax incentives to encourage Australians to live and work in mining regions, and to encourage businesses to locate and operate in these regions as well, according to a major report prepared on the resources industry for the Federal Government. The call for consideration of tax incentives is one of 29 recommendations made to strengthen the resources industry, contained in the “Resources 2030 Taskforce” report..... [more]

• Peninsula Energy Ltd (ASX:PEN) has received a vote of confidence from its managing director and CEO Wayne Heili who has purchased 205,000 shares for $55,902. Heili acquired the shares through on-market trades and the purchase increases his total holding in the company to over 1.1 million shares..... [more]

• Rio Tinto has revealed a share buyback as the mechanism by which it will return $US3.2 billion ($4.4 billion) to shareholders from the recent sale of Australian coal assets. The mining giant said it would combine an off-market buyback targeting up to 41.2 million shares worth about $US1.9 billion with further on-market purchases. All the shares purchased will be cancelled..... [more]

• China has placed a 10 per cent tariff on gas imports from the US, handing Australian LNG exporters price and investment advantages over their main rival for the growing Chinese market. The move by China to impose tariffs on more than 5000 US imports, including LNG, was in response to US President Donald Trump on Monday imposing 10 per cent tariffs, to rise to 25 per cent at year-end, on a suite of Chinese imports..... [more]

• Aeris Resources enters trading halt ahead of capital raising. Aeris finished FY2018 with total copper production of 26,686 tonnes from its Tritton Copper Operations in New South Wales..... [more]

• Peninsula Mines progresses Korean graphite commercialisation strategy.... [more]

• Koolyanobbing iron ore mine bailout ‘cost taxpayers $250m’.... [more]

• A former employee of the Northern Territory's Inpex Ichthys LNG project has spoken out against the company, saying mental health and safety concerns often came second to getting the job done. In one instance, she claimed that an upward referral of another employee's suicidal ideation was met with indifference..... [more]

• Andy Hunter treads carefully but he's clearly frustrated. Hunter is deputy managing director of global infrastructure playerCK Infrastructure, which wants to spend $13 billion buying local ASX-listed gas pipeline company APA Group. The problem for CKI is its Hong Kong heritage and some Chinese links, which have been enough for the likes of Liberal backbencher Jim Molan and cross bench senators Pauline Hanson and Rex Patrick to call for the deal to be blocked on national security grounds..... [more]

• Woolworths has responded to calls from the dairy industry by announcing it will increase the price of its milk by 10 cents a litre as part of a new special drought relief milk range. The major supermarket plans to launch the range mid-October with the extra 10 cents going to dairy farmers in drought-affected areas..... [more]

• The Solomon Lew-backed Premier Investments has seen its full-year net profit slump more than 20 per cent to $83.64 million, after the company declared $30 million impairments on its casual wear group, including Just Jeans, Dotti, and Jay Jays..... [more]

• Animoca Brands Corporation Ltd (ASX:AB1) has entered into a strategic partnership with OpenST Limited (OST) todevelop blockchain-powered games by leveraging OST’s blockchain infrastructure and services. Under the agreement, Animoca will develop new products utilising OST technology and will integrate it into some of the company’s existing and upcoming products, including the gamified cryptowallet WalletPet..... [more]

• Former tech darling,Big Un, hit its peak on the ASX in November last year with a valuation of $840 million but, according to a report from the company's administrators, it had been insolvent for months. The report to Big Un's creditors this week revealed that key solvency ratios - sourced from the company's internal accounts - went negative last year..... [more]

• Telstra has emerged from the 2018 financial reporting season with an even higher concentration of NBN power as its rivals struggle to break even on customer migrations. The incumbent telco’s strong NBN gains mean that 90 percent of all active NBN fixed services (that is, excluding satellite) sit with just four companies..... [more]

• A cybersecurity firm that provides secure wireless devices to the army and other government agencies to protect them from cyber threats has won this year's Telstra Australian Business of the Year. Penten, a Canberra-based firm, helps agencies protect their systems and data against digital threats, ensuring the security of their mobile devices and the management of cyber deception..... [more]

• ACCC approves giant pharmaceutical merger. Half of all generic prescriptions could come from one supplier after the nation's competition watchdog approved a merger between two pharmaceutical companies. India's Strides Pharma Science, operating in Australia and New Zealand as Arrow Pharmaceuticals, is seeking to merge with the local arm of Toronto-based company Apotex..... [more]

• Almost six months after a group of about 40 Canberrans decided how the ACT's compulsory third-party (CTP) insurance should be overhauled, the territory government will reveal its proposed legislation..... [more]

• The Morrison government will create a special $1.2 billion fund for private schools and pay it directly to Catholic and independent school authorities to distribute as they see fit. The "choice and accessibility fund" is in addition to a separate $3.4 billion cash injection announced by Prime Minister Scott Morrison to help private schools adjust to a new model for determining socioeconomic disadvantage..... [more]

• Opinion - John McDuling: $10: The do-or-die number for Foxtel's 'Netflix of sport' play. Patrick Delany's desire to create a 'Netflix of sport' in Australia will live or die on a few critical decisions. At the top of the list is how it's priced..... [more]

World Business News

• Larry Fink, chief executive of BlackRock (BLK.N), the world’s largest asset manager, on Thursday said the United States is “a big winner” in the trade war with China “in the short-term,” but not necessarily over time..... [more]

• The S&P 500’s three-company telecommunications services index .SPLRCL is about to be folded into a much higher-profile group, but a brighter spotlight may not be enough to boost the stocks as investors continue to favor growth sectors..... [more]

• Tilray is having a wild week. Is this a bubble for cannabis stocks? Shares of Tilray (TLRY) have shot up nearly 50% in the past week, surging nearly 40% alone on Wednesday — a day when the stock was halted five times in the final 70 minutes of trading on the Nasdaq for volatility..... [more]

• Canadian cannabis company Tilray Inc.’s stock surged as much as 8% before reversing those gains to trade down 18% on Thursday, prompting volatility in other stocks in a sector that’s gearing up for Canada’s full legalization of the substance on Oct. 17..... [more]

• Amazon unveils Alexa-controlled microwave, wall clock and new Echo devices.... [more]

• Amazon is considering opening up to 3,000 new cashier-less stores by 2021 to vie for shoppers at convenience stores and quick-service sandwich shops, Bloomberg News reported Wednesday. CEO Jeff Bezos is trying to decide on the best format for this bold and expensive venture, Bloomberg said, quoting people familiar with the matter..... [more]

• Walmart recently spent billions to get into online retail in India. Now Amazon is going offline in the hope of gaining millions of new customers in the vast market. The e-commerce giant is buying 49% of More, a popular Indian supermarket chain, according to multiple reports in local media..... [more]

• After a rough year, GoPro gets back to basics.... [more]

• Four General Electric power turbines shut down in U.S. due to blade issue.... [more]

• Caterpillar Inc.'s stock CAT, +2.26% rallied 2% in afternoon trade Thursday, after Baird analyst Mircea Dobre turned bullish on the machinery maker, citing an "attractive" risk-reward profile given its recent underperformance despite strong demand..... [more]

• AT&T Inc (T.N) on Thursday asked a federal appeals court to reject the Justice Department’s challenge to its acquisition of Time Warner, saying the government had offered no basis for second guessing key conclusions of a ruling upholding the transaction..... [more]

• First it was HSBC. Then ING. Now Danske Bank. European banks are still uncovering money laundering on a vast scale. Danske Bank (DNKEY), Denmark's largest bank, admitted Wednesday that an internal investigation had uncovered a large number of suspicious accounts and transactions at its branch in Estonia..... [more]

• Brexit will have a bigger economic impact on the UK than the European Union, the former head of the European Central Bank has told BBC Radio 5 Live. Jean-Claude Trichet added the break-up was "totally contrary to the new world" of large emerging economies, with single currencies and single markets..... [more]

• Business is worried enough about Britain crashing out of the European Union. Now it has a new nightmare: a blind Brexit that could extend the uncertainty over trade for years..... [more]

• EU pushes October Brexit agreement, threatens no deal.... [more]

• Ryanair boss Michael O'Leary has signalled that he may stand down in the next five years after admitting he is reluctant to sign a new long-term contract at the airline. Mr O'Leary said the board wants him to commit to another five years after his current deal expires in 2019..... [more]

• Carmaker Opel, a unit of France’s PSA Group (PEUP.PA), is planning to further scale back production at its Ruesselsheim plant, a local newspaper group reported on Friday..... [more]

• China's app for everything Meituan Dianping jumps in IPO.... [more]

• Malaysia's former prime minister,Najib Razak, has been charged with 21 counts of money laundering, in a case linked to a multi-million dollar corruption scandal. He was charged in court on Thursday in relation to the alleged transfer of $556m (£421m) from state fund 1MDB into his personal bank account..... [more]