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For more headlines on Breaking, National, Business, Finance, Sports and World News, visit our home page Sydney Sun.com http://www.sydneysun.com/index.php/cat/45419e6f687dd329/ en-us Sun, 19 May 2013 23:44:37 -0400 Sun, 19 May 2013 23:44:37 -0400 30 Australian stocks were up firmly mid-session, with the banks and miners leading the broader market higher.At 10.20am, the benchmark S&P/ASX200 index was up 63.3 points, or 1.2 per cent, at 5244.1 points while the All Ordinaries index was up 59.2 points, or 1.1 per cent, at 5219 points.The local market opened the new trading week up about 0.75 per cent and extended gains through the morning, ... http://www.sydneysun.com/index.php/sid/214622615/scat/45419e6f687dd329 Sun, 19 May 2013 22:46:33 -0400 http://www.sydneysun.com/index.php/sid/214622615/scat/45419e6f687dd329 Stocks to watch on the Australian stock exchange at noon on Monday:GPT - GPT PROPERTY GROUP - up 5.00 cents, or 1.21 per cent, at $4.17LLC - LEND LEASE GROUP - up 22 cents, or 2.10 per cent, at $10.69Property owner GPT Group has sold its 50 per cent stake in the Erina Fair shopping centre on the NSW central coast for $397 million.LEI - LEIGHTON HOLDINGS LTD - up 86 cents, or 4.77 per cent, at ... http://www.sydneysun.com/index.php/sid/214622614/scat/45419e6f687dd329 Sun, 19 May 2013 22:46:30 -0400 http://www.sydneysun.com/index.php/sid/214622614/scat/45419e6f687dd329 New York: The board of Yahoo! has agreed to a deal to purchase the popular blogging platform Tumblr for $1.1 billion, the Wall Street Journal reported Sunday.Yahoo! did not immediately return AFP's calls for confirmation, but CEO Marissa Mayer has scheduled a news conference in New York Monday at which the company said it will unveil "something special."Reports last week said ... http://www.sydneysun.com/index.php/sid/214622608/scat/45419e6f687dd329 Sun, 19 May 2013 22:26:23 -0400 http://www.sydneysun.com/index.php/sid/214622608/scat/45419e6f687dd329 Viento Group has won a $15.4 million Fortescue Metals Group contract to build a tailings storage facility contract for the iron ore miner's Solomon iron ore project.Work on the project, a joint venture with Eastern Guruma and Wirlu-murra Yindjibarndi Aboriginal Corporation, will begin this month with an expected completion date of late September.Viento Contracting Services managing director ... http://www.sydneysun.com/index.php/sid/214622135/scat/45419e6f687dd329 Sun, 19 May 2013 21:53:57 -0400 http://www.sydneysun.com/index.php/sid/214622135/scat/45419e6f687dd329 UPDATE 8.20am: The Australian sharemarket has opened nearly one per cent higher on the back of a positive lead from Wall St on Friday.At 8.20am, the benchmark S&P/ASX200 index was up 46.3 points, or 0.9 per cent, at 5227.1, while the broader All Ordinaries index was up 43.9 points, or 0.9 per cent, at 5203.7.More to ... http://www.sydneysun.com/index.php/sid/214621606/scat/45419e6f687dd329 Sun, 19 May 2013 21:02:42 -0400 http://www.sydneysun.com/index.php/sid/214621606/scat/45419e6f687dd329 CBH has warned growers to carefully consider the risks in opting out of its integrated supply chain after moving to comply with an Australian Consumer and Competition Commission ruling that opens up the grain freight business to other players.The co-operative had until today to make its Grains Express freight operations voluntary and has revealed the process for growers seeking to use alternative ... http://www.sydneysun.com/index.php/sid/214619872/scat/45419e6f687dd329 Sun, 19 May 2013 18:32:38 -0400 http://www.sydneysun.com/index.php/sid/214619872/scat/45419e6f687dd329 Busselton growers have warned the future of home-grown fruit and vegetables is in grave danger due to cheap imports.The Department of Agriculture, Fisheries and Forestry has revealed the value of processed fruit and vegetable imports into WA has grown 64 per cent from $71 million in 2010-11 to $116 million in 2011-12.Fresh fruit and veg imports rose by 19 per cent in the same period.Busselton ... http://www.sydneysun.com/index.php/sid/214619873/scat/45419e6f687dd329 Sun, 19 May 2013 18:32:35 -0400 http://www.sydneysun.com/index.php/sid/214619873/scat/45419e6f687dd329 Mystery surrounding Verve Energy's troubled $250 million bid to resurrect the Muja coal-fired power station in Collie has deepened, with senior executives from its joint venture partner resigning en masse.Documents lodged with the Australian Securities and Investments Commission state Vinalco Energy directors Grant Kempe and Michael Williams resigned last month. Vinalco is the joint venture ... http://www.sydneysun.com/index.php/sid/214619874/scat/45419e6f687dd329 Sun, 19 May 2013 18:32:33 -0400 http://www.sydneysun.com/index.php/sid/214619874/scat/45419e6f687dd329 The Australian market looks set to open higher after Wall Street again set new records.At 0630 AEST on Monday, the June share price index futures contract was up 19 points at 5,212.In economic news on Monday, the Commonwealth Bank business sales indicator for April as is the National Australia Bank's business customer satisfaction ratings and the ASX launches exchange-traded bonds.John ... http://www.sydneysun.com/index.php/sid/214619127/scat/45419e6f687dd329 Sun, 19 May 2013 17:43:33 -0400 http://www.sydneysun.com/index.php/sid/214619127/scat/45419e6f687dd329 SAN FRANCISCO (Reuters) - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on Sunday.Such an acquisition would be Marissa Mayer's largest deal since taking the helm of the once-iconic Internet company in July 2012. Yahoo is keen on fast-growing Tumblr ... http://www.sydneysun.com/index.php/sid/214618897/scat/45419e6f687dd329 Sun, 19 May 2013 16:54:20 -0400 http://www.sydneysun.com/index.php/sid/214618897/scat/45419e6f687dd329 There is a good case for Yahoo to buy Tumblr. But there's a better case for it not to. By John Saroff, contributor FORTUNE -- It looks like ... http://www.sydneysun.com/index.php/sid/214618903/scat/45419e6f687dd329 Sun, 19 May 2013 16:39:09 -0400 http://www.sydneysun.com/index.php/sid/214618903/scat/45419e6f687dd329 "bring their shovels" in a week which saw record highs yet again. For the week, the Dow registered gains of +1.6%, the S&P +2.1%, and the Nasdaq Comp +1.8%. Gold put in another weak performance, with the GLD ETF off -6.2%, while the dollar recorded ... http://www.sydneysun.com/index.php/sid/214618101/scat/45419e6f687dd329 Sun, 19 May 2013 15:55:52 -0400 http://www.sydneysun.com/index.php/sid/214618101/scat/45419e6f687dd329 WA Treasury has cut more than $2 billion from State revenue forecasts since February's pre- election financial update.The writedown over four years to 2016-17 is mostly from revised official State iron ore price and royalty forecasts and a smaller-than-expected national GST take.Treasury is also worried about a WA labour market that has deteriorated quicker than expected, which could mean ... http://www.sydneysun.com/index.php/sid/214617963/scat/45419e6f687dd329 Sun, 19 May 2013 15:12:22 -0400 http://www.sydneysun.com/index.php/sid/214617963/scat/45419e6f687dd329 Colin Barnett says companies that hired too many workers too quickly should shoulder some blame for the high cost of doing business in WA, which has contributed to the mining slowdown.The Premier said there was some truth in industry complaints about high wages and low productivity but "that should not be interpreted as the major reason for cost rises"."I think some of the ... http://www.sydneysun.com/index.php/sid/214617549/scat/45419e6f687dd329 Sun, 19 May 2013 15:12:19 -0400 http://www.sydneysun.com/index.php/sid/214617549/scat/45419e6f687dd329 WA faces a "bumpy" landing from the mining slowdown that could mean more unemployment, slower growth and the State Government forced to either cut spending or raise taxes, economists warn.Experts agree WA faces a slowdown but are divided on how serious it will be and how much a weaker Australian dollar and increased exports will cushion the effects of lower commodity prices and a lack ... http://www.sydneysun.com/index.php/sid/214617962/scat/45419e6f687dd329 Sun, 19 May 2013 15:12:17 -0400 http://www.sydneysun.com/index.php/sid/214617962/scat/45419e6f687dd329 The prospects for Australian businesses are looking healthier, with spending across the economy rising for the eighth consecutive month.Commonwealth Bank's Business Sales Indicator (BSI) found that spending rose 0.5 per cent in trend terms in April.It was the eight month-on-month increase in a row, with spending up 4.9 per cent in April compared to a year earlier.CommSec chief economist ... http://www.sydneysun.com/index.php/sid/214616481/scat/45419e6f687dd329 Sun, 19 May 2013 13:28:07 -0400 http://www.sydneysun.com/index.php/sid/214616481/scat/45419e6f687dd329 ) is holding an event in New York City on Monday evening, at which many are speculating the company could announce a deal with the social blogging platform Tumblr. Reports surfaced last week that Yahoo CEO Marissa Mayer is said to ... http://www.sydneysun.com/index.php/sid/214616478/scat/45419e6f687dd329 Sun, 19 May 2013 13:12:40 -0400 http://www.sydneysun.com/index.php/sid/214616478/scat/45419e6f687dd329 CEO Cook and Chairman Lee. FORTUNE -- With Tim Cook scheduled to testify Tuesday before a hostile Senate subcommittee and the Department of Justice's antitrust trial against Apple ... http://www.sydneysun.com/index.php/sid/214615808/scat/45419e6f687dd329 Sun, 19 May 2013 11:31:12 -0400 http://www.sydneysun.com/index.php/sid/214615808/scat/45419e6f687dd329 By Ed Stoddard JOHANNESBURG (Reuters) - South Africa's National Union of Mineworkers said it would seek pay rises of up to 60 percent from gold and coal producers, raising the prospect of fresh strikes as firms battle higher costs and falling ... http://www.sydneysun.com/index.php/sid/214614551/scat/45419e6f687dd329 Sun, 19 May 2013 09:46:53 -0400 http://www.sydneysun.com/index.php/sid/214614551/scat/45419e6f687dd329 NEW YORK (Reuters) - With the world's biggest central banks driving yields on safe assets to near zero, some investors are tossing caution to the wind and rushing to buy illiquid and previously overlooked bonds sold by countries with no capital markets track ... http://www.sydneysun.com/index.php/sid/214614538/scat/45419e6f687dd329 Sun, 19 May 2013 09:46:26 -0400 http://www.sydneysun.com/index.php/sid/214614538/scat/45419e6f687dd329 Reuters © Germany's Vice Chancellor and Free Democratic Party (FDP) Chairman Philipp Roesler attends the second day of an extraordinary FDP Party meeting in Nuremberg May 5, 2013. REUTERS/Kai ... http://www.sydneysun.com/index.php/sid/214614252/scat/45419e6f687dd329 Sun, 19 May 2013 09:15:20 -0400 http://www.sydneysun.com/index.php/sid/214614252/scat/45419e6f687dd329 LONDON (AFP) - Google's executive chairman Eric Schmidt on Sunday defended the US Internet giant's tax arrangements after claims it has unethically dodged paying vast amounts of British tax.Writing in Britain's Observer newspaper, Schmidt insisted that Google "has always aspired to do the right thing" and that the company pays "significant" amounts of British ... http://www.sydneysun.com/index.php/sid/214614273/scat/45419e6f687dd329 Sun, 19 May 2013 09:15:05 -0400 http://www.sydneysun.com/index.php/sid/214614273/scat/45419e6f687dd329 ATHENS (Reuters) - Greece's bank rescue fund will aim to sell Hellenic Postbank and Proton by mid-July with big banks continuing to absorb small lenders as part of plans to revive the battered sector, the country's foreign lenders said in an inspection ... http://www.sydneysun.com/index.php/sid/214614157/scat/45419e6f687dd329 Sun, 19 May 2013 08:54:49 -0400 http://www.sydneysun.com/index.php/sid/214614157/scat/45419e6f687dd329 SAN FRANCISCO (MarketWatch) -- Expectations are running high for Campbell Soup going into the food company's earnings report Monday ... http://www.sydneysun.com/index.php/sid/214613822/scat/45419e6f687dd329 Sun, 19 May 2013 08:19:31 -0400 http://www.sydneysun.com/index.php/sid/214613822/scat/45419e6f687dd329 "The bulls don't have to try too hard because previous bearish forces are adding fuel to the fire, propelling the market higher," Wilkinson ... http://www.sydneysun.com/index.php/sid/214613823/scat/45419e6f687dd329 Sun, 19 May 2013 08:19:30 -0400 http://www.sydneysun.com/index.php/sid/214613823/scat/45419e6f687dd329 Governor of the Bank of England Mervyn King speaks to employees during the opening of the Prudential Regulation Authority, in central London April 2, ... http://www.sydneysun.com/index.php/sid/214613183/scat/45419e6f687dd329 Sun, 19 May 2013 06:23:26 -0400 http://www.sydneysun.com/index.php/sid/214613183/scat/45419e6f687dd329 The cross-country battle over billions in transport funding for WA continues, with federal infrastructure minister Anthony Albanese bluntly telling Premier Colin Barnett it is time to act on his election promises.Mr Albanese was in Perth today to inspect the progress of the $360 ... http://www.sydneysun.com/index.php/sid/214612379/scat/45419e6f687dd329 Sun, 19 May 2013 04:09:57 -0400 http://www.sydneysun.com/index.php/sid/214612379/scat/45419e6f687dd329 The Afghan Government will push Australia to sponsor the training of geologists and mining experts at WA universities as part of efforts to kickstart the war-torn country's resources industry.Afghan Mines Minister Wahidullah Shahrani met State and Federal ministers and a number of small WA mining companies in Perth yesterday seeking investment for the fledgling Afghan resources ... http://www.sydneysun.com/index.php/sid/214609649/scat/45419e6f687dd329 Sat, 18 May 2013 23:56:19 -0400 http://www.sydneysun.com/index.php/sid/214609649/scat/45419e6f687dd329 Why now: Affordable rent made the decision easy I was laid off from my job as a research assistant at West Texas A&M last year. I had been looking for work without much success, but what I really wanted to do was open a business. I just needed a good idea. I think this year was the perfect timing for opening the store. It was a kind of a sweet spot. The rents were still low, but the ... http://www.sydneysun.com/index.php/sid/214606313/scat/45419e6f687dd329 Sat, 18 May 2013 17:23:15 -0400 http://www.sydneysun.com/index.php/sid/214606313/scat/45419e6f687dd329 "During your working lives, you will have to reinvent yourselves many times," Federal Reserve Chairman Ben Bernanke told new graduates at Bard College at Simon's Rock on ... http://www.sydneysun.com/index.php/sid/214605938/scat/45419e6f687dd329 Sat, 18 May 2013 17:23:11 -0400 http://www.sydneysun.com/index.php/sid/214605938/scat/45419e6f687dd329 A few months ago, word spread that the twins, Cameron and Tyler, had set up their own investment firm and decided to focus on a curious market niche: ... http://www.sydneysun.com/index.php/sid/214605939/scat/45419e6f687dd329 Sat, 18 May 2013 17:23:11 -0400 http://www.sydneysun.com/index.php/sid/214605939/scat/45419e6f687dd329 Yahoo CEO Marissa Mayer is rumored to be planning a Monday announcement, possibly of Yahoo's purchase of Tumblr for a reported $1.1 ... http://www.sydneysun.com/index.php/sid/214605326/scat/45419e6f687dd329 Sat, 18 May 2013 16:37:40 -0400 http://www.sydneysun.com/index.php/sid/214605326/scat/45419e6f687dd329