Business news

CBA posts $1.7b quarterly profitCommonwealth Bank shares drop as it posts a net profit of $1.7 billion for the three months to March, and says funding costs continue to rise.

Are these 5 ASX stocks cheap or value traps?There have been many studies done on the returns of stocks with low Price to Earnings (P/E) ratios, with the overwhelming conclusion that portfolios containing low P/E stocks consistently out-perform those with high P/E stocks. Bruce Greenwald’s book Value Investing: From Graham to Buffett and Beyond contains much more information on that subject than I can include in this article, and it’s a worthwhile read.

US shoe firm gets kicked for butt claimsUS shoemaker Skechers is to pay $40 million to settle claims that it deceived consumers by suggesting its sports shoes could help tone their butts and lose weight, officials said Wednesday.

4 more crucial investing lessons from BuffettOver the weekend I had the good fortune to be in the press box at the Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) annual meeting in Omaha, Nebraska. Seeing as I own shares personally, here are four takeaways that make me believe Berkshire Hathaway will be able to stand the test of time.

Facebook: Will you buy the largest IPO ever?Are you ready for the largest IPO of all time? Well, you’d better be. It’s coming Friday (U.S. time). Facebook is finally making its grand debut.

Aust stocks open higherGains from BHP and Rio have supported a positive start on the Australian stock market.

Samsung on top as mobile phone sales dip: surveyMobile phone sales worldwide suffered a rare dip in the first three months of this year on softened demand in Asian markets, industry tracker Gartner reported Wednesday.

Leighton reviewing disclosure methodsLeighton has appointed Ernst and Young as an external consultant to review its disclosure procedures after breaching laws earlier this year.

Debt negotiator is Greek finance ministerGiorgos Zanias, who helped negotiate Greece's debt writedown deal, has been appointed the country's caretaker finance minister.

Airservices CEO Greg Russell resignsAirservices Australia says CEO Greg Russell has quit after seven years but has not given a reason.

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Nightmare dentist visitNSW man forced to live with broken drill bit inside tooth after blunder

Joe Korp opera 'sick'

Model involved in fatal crash

Carmen Smith dumped from Voice

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Carmen Smith dumped from The VoiceOne of the stars of The Voice will leave the show after it was deemed her performance in a Guy Sebastian video clip gave her an unfair advantage.

Dentist left broken drill bit in man's toothA NSW man has been forced to undergo expensive surgery after a dentist broke a drill bit off in his tooth and it was left untreated for several years.

Robert F. Kennedy Jr's second wife dead: reportsMary Kennedy, the 52-year-old estranged wife of Robert F. Kennedy Jr, has been found dead at her home in Bedford, New York, US media reports said Wednesday.

Samantha Harris involved in fatal crashPolice are investigating a car crash that left Australian supermodel Samantha Harris' fiancé with spinal injuries and killed a 79-year-old man in Sydney on Saturday morning.

Hawk drops puppy from skyA California woman has taken a two-month-old puppy into her home after seeing it being dropped from the sky by a hawk.

Prince Philip shocks with lewd dress remarkGaffe-prone Prince Philip stunned fans at a public greeting by making a a lewd remark about a 25-year-old woman's dress.

Daughter slams Korp killing operaThe daughter of a Melbourne man who committed suicide after being suspected of conspiring to kill his wife has described an opera based on the 2005 events as "sick" and "disgusting".

Michael Clarke weds in private ceremonyAustralian cricket captain Michael Clarke has married girlfriend Kyly Boldy at an intimate service.

Paralysed woman controls robot arm with mindA paralysed woman in the US has been able to use her mind to control a robotic arm, thanks to nearly 100 electrodes implanted in her brain.

Dad cleared of raping two baby daughtersA prominent Los Angeles photographer falsely accused of raping his two baby daughters said he broke down and cried when he found out a court had cleared him of the alleged crime.