Finance news you need to know today


WASHINGTON — US factory activity surged to a 13-year high in September amid strong gains in new orders and raw material prices.

LONDON — Britain’s Monarch Airlines has collapsed, causing the cancellation of hundreds of thousands of holidays, after falling victim to intense competition for flights and a weaker pound.

WASHINGTON — The US Supreme Court has rejected New Zealand-based internet mogul Kim Dotcom’s challenge to the US government’s bid to seize assets held by him and others involved in the now-defunct streaming website Megaupload.


HOUSING PRICES — Home prices across Australia’s capital cities have edged higher over the September quarter but growth is slowing, dragged down by Sydney and tighter lending by the big banks.

RATES PREVIEW — The Reserve Bank of Australia is expected to leave interest rates unchanged for a 14th straight month as it waits for signs of a gradual improvement in economic growth to play out more clearly.

AGRICULTURAL EXPORTS — Cropping knocked off beef and cattle to become Australian agriculture’s most valuable export sector for 2016/17.

CIMIC — CIMIC subsidiary UGL has won a $133 million contract to build the first stage of the 110-megawatt Bannerton solar park in Victoria.

BEACH ENERGY — Shares in Beach Energy have soared after the mid-cap oil and gas explorer raised $201 million from the institutional portion of its rights share issue to fund the acquisition of Lattice Energy.

MANUFACTURING AI — Growth in Australia’s manufacturing sector slowed in September as high energy prices continued to put pressure on profits.

TEN CBS — The sale of the Ten Network to US media giant CBS would likely cause havoc for rival broadcasters Seven West Media and Nine Entertainment, a senior analyst has warned.

VILLAGE ROADSHOW — Theme parks and cinemas operator Village Roadshow has sold its stake in Singapore cinema business Golden Village for $165 million.

CBA NZ — ASB Bank chief executive Barbara Chapman will resign at Easter next year, according to CBA’s New Zealand unit.