Qantas Cancels 787 Orders Worth $8.5 Billion; Books Fiscal Year Loss
Qantas Airways Ltd. (QAN.AU), reporting its first annual loss in nearly two decades, Thursday cancelled orders for 35 of Boeing Co.'s (BA) more fuel-efficient 787-9 aircraft in a bid to save US$8.5 billion.
Australian Stocks Advance As Miners Rise
Australian stocks rose in early trading on Thursday, with the S&P/ASX 200 index up 0.4% at 4,393.80.
Broker-Dealers Urge No Immunity for Nasdaq in Facebook IPO
Nasdaq OMX Group Inc. (NDAQ) shouldn't be afforded legal protections enjoyed by exchanges in connection with its mishandling of the Facebook Inc. (FB) stock-market debut, according to a trade group representing banks and financial institutions.
Ex-Merrill Brokers Reach Settlement Over Deferred Pay
Merrill Lynch has reached a legal settlement in a putative class-action suit over deferred pay with potentially thousands of disaffected brokers who left the firm in the wake of its acquisition by Bank of America (BAC).
Japan Stocks Drop, But Sharp Gains On Loan Report
Japanese stocks fell early Thursday, extending their losses from the previous session after the yen rose against its rivals overnight, hitting most exporter shares.
Asia Markets Watching For China Factory Data
Asian markets' focus Thursday will likely include the preliminary or "flash" reading of HSBC's manufacturing Purchasing Managers' Index, which will offer the first major look at Chinese factory activity for August.
National Australia Bank, Caterpillar Financial Offer A$ Bonds
Activity in Australia's moribund corporate bond market picked up on Thursday with new offers from two borrowers, bringing to an end a quiet period for domestic investors.
Origin Energy Forecasts Flat Earnings In FY13
Origin Energy Ltd. (ORG.AU) on Thursday forecast a dramatic slowing of its earnings momentum this year, after the sale of a stake in a US$20 billion gas-export joint venture generated a large boost in last year's annual profit.
Qantas Books $257 Million Loss As Fuel Costs Soar
Qantas Airways Ltd. (QAN.AU) Thursday reported its first annual loss since it was privatized almost two decades ago, as the end-of-line carrier haemorrhaged money from an ailing international flights unit grappling with soaring fuel costs.
Facebook Looks to Search Advertising
Facebook Inc. (FB) on Wednesday started making a form of online search advertising, a model popularized by Google Inc. (GOOG), widely available on the social site as it seeks to tap new revenue sources.