From Global Markets 8:51 am
The Australian sharemarket had its worst day in two months, pushed lower by Ben Bernanke's much anticipated testimony before congress last night. The All Ordinaries index (XAO) slumped by 2 per cent, adding to yesterday's 0.27 per cent losses.
From Politics & Policy 7:20 am
China has finally lifted the ban it imposed on New Zealand's lamb mutton and beef meat products.
From Economy 5:16 am
China on Wednesday announced it has discovered a gold mine in the Ili Valley in the country's Xinjiang Uygur Autonomous Region. With reserves estimated to be at 53 tonnes, the said discovery could translate to an economic value of $3.2 billion.
From Global Markets 4:12 am
The Australian share market is being heavily sold off in early trade, following a volatile night on Wall Street.
From Politics & Policy 2:37 am
Stocks ended Wednesday broadly lower after a rollercoaster day of trading, as investors sorted through mixed signals from the Federal Reserve on the outlook for monetary policy.
From Economy 1:04 am
All the action continues to be in the precious metals markets. Overnight, gold surged more than US$50 from its low just under US$1,340. It was on its way to testing the April low of around US$1,320. When it became clear those lows wouldn't be breached, it sparked a short covering rally.
From Commodities 4:07 pm
Oil major BP <BP.L> has allocated $2.85 billion to develop Iraq's Rumaila oilfield in 2013, up from $2.2 billion last year, the head of the joint management committee for the field told Reuters On Wednesday.
From Commodities 3:43 pm
Brent crude oil fell on Wednesday after an unexpected rise in US gasoline stockpiles reignited worries that the summer driving season's demand in the number one oil consuming nation may be weaker than anticipated.
From Commodities 3:09 pm
We have heard from a ton of Fed officials in recent days but now it is Bens turn. The market has been torn trying to decipher just when the Federal Reserve will start to back off asset purchases. Of course the policy more than likely will be one where the Fed will either increase or decrease asset purchases as need to influence the economy.
From Global Markets May 22
With the exception of the first half hour of trade, sellers dominated the session on Wednesday. The news pulse in corporate and economic terms provided further encouragement.
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