WASHINGTON - Days after he cracked that being rich in the US meant earning at least $US5 million ($A5.7 million) a year, Republican presidential candidate John McCain acknowledged that he wasn’t sure how many houses he and his wealthy wife own.
NEW YORK - Oil prices shot up more than $US5 a barrel today, rising to the highest level in over two weeks as escalating tensions with Russia stoked fears of supply disruptions to the West.
WELLINGTON - Trade Me founder Sam Morgan is getting a bonus of about $NZ14 million ($A11.44 million) from the success of the online auction site.
LOCAL NEWS
CANBERRA - Big business has told the federal government to go back to the drawing board on climate change, saying emissions trading could drive one-third of trade-exposed businesses bust.
MELBOURNE - Ford Australia will cut up to 350 jobs - 15 per cent of its Australian manufacturing workforce - blaming a slump in large car sales.
SYDNEY - Qantas Ltd expects a 41 per cent fall in profit this financial year as the airline faces the headwinds of rising fuel costs and a slowing global economy.
PERTH - Mineral sands miner Iluka Resources Ltd has reported a sharp drop in first half profit because of the stronger Australian dollar and gas supply disruption in Western Australia, but says it expects robust global demand for its products to continue.
STOCKS TO WATCH ON THE AUSTRALIAN STOCK EXCHANGE TODAY:
SHL - SONIC HEALTHCARE LTD - up 10 cents to $13.82
Pathology and radiology group Sonic Healthcare expects revenue growth above 15 per cent in the current financial year, after lifting annual net profit for 2007/08 by nearly 24 per cent.
NAB - NATIONAL AUSTRALIA BANK LTD - down 55 cents to $23.55
National Australia Bank has broken ranks with the other banks to declare it will pass on in full a 25 basis point rate cut if the Reserve Bank of Australia reduces the official cash rate by that amount at its September board meeting.
BNB - BABCOCK AND BROWN LTD - down $1.23, or 35.65 per cent, to $2.22
The chairman and chief executive officer of Babcock & Brown both have stepped down from their roles at the investment firm, which announced a 34 per cent dip in interim profit.
QBE - QBE INSURANCE GROUP LTD - down 51 cents to $23.40
Australia’s largest insurer, QBE Insurance Group, is confident of meeting its full year 20 per cent profit margin target despite booking a seven per cent dip in its interim profit.
DOW - DOWNER EDI LTD - up 35 cents to $7.05
Engineer Downer EDI has announced a 63.4 per cent full year profit rise, predicting more “double-digit” growth ahead.
AMC - AMCOR LTD - down four cents to $5.21
Packaging group Amcor says has posted a 51.5 per cent fall in annual profit and said slowing world economic growth may hurt its sales in the new financial year.
HSP - HEALTHSCOPE LTD - down eleven cents to $4.24
Private hospitals operator Healthscope says it has had a positive start to the 2009 financial year and will begin a significant expansion of its capacity to meet growing demand for medical services from an ageing population.
CTY - COUNTRY ROAD LTD - untraded at $3.50
Clothing retailer Country Road has reported a 42.5 per cent fall in annual profit and will focus on controlling costs in what is expected to be tough retail conditions this year.
OZL - OZ MINERALS LTD - down 14.5 cents to $1.685
Miner Oz Minerals has posted a first half loss and says the result would have been been better but for volatility in base metals markets and higher operating costs.
FXJ - FAIRFAX MEDIA LTD - up four cents to $2.82
Fairfax Media has lifted its annual by nearly 47 per cent following its merger in 2007 with Rural Press, and says advertising markets have slowed going into the new year.
STO - SANTOS LTD - up 98 cents to $18.18
Santos, Australia’s third largest oil and gas producer, has delivered a rise in half year profit and flagged a proposal to construct an $800 million gas power station in Victoria.
LLC - LEND LEASE CORPORATION LTD - up nine cents to $9.09
Property Group Lend Lease has posted a 46.7 per cent fall in annual profit, after booking negative property revaluations and adjustments to the carrying value of some UK assets. It has begun a global search for a successor to chief executive and managing director Greg Clarke.
MAP - MACQUARIE AIRPORTS - up seven cents to $3.15
Britain’s competition watchdog said on Wednesday it may force airports operator BAA to sell three of its seven airports, including two in London. Macquarie Airports is among potential buyers identified by analysts.
AIA - AUCKLAND INTERNATIONAL AIRPORT LTD - up 1.5 cents to $1.625
Auckland International Airport posted a 3.3 per cent rise in full year adjusted net profit to $NZ103.7 million ($A84.99 million), partly due to strong growth in domestic passenger numbers as the local airline industry became more competitive.
