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Pepsi's second-quarter profit drops

PepsiCo says profits fell in the second quarter, but sales volume is up and it has raised its earnings-per-share outlook for the year to 8 per cent.

RBNZ may not touch OCR brake soon

The RBNZ says it will wait and see if four consecutive OCR rises are having the desired effect before thinking about a fifth hike.

House prices still booming, led by Sydney

The median capital city house price grew by 10 per cent last financial year, and the boom shows no sign of slowing.

Five held in China expired meat scandal

Five people who worked for a US food supplier in China have been detained over the sale of expired meat, mainly to fast food outlets, including McDonald's.

Rio Tinto confident on demand from China

Rio Tinto boss Sam Walsh has delivered a positive appraisal of global demand for iron ore, despite current price weakness.

Biotron shares soar on HIV drug data

Shares in Biotron have soared as the anti-HIV drug developer presented new data to an international AIDS conference in Melbourne

CBA sparks fixed rate loan war

Australia's biggest home lender the Commonwealth Bank has sparked a price war after dropping its five year fixed home loan rate to 4.99%.

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Commodities markets summary

SYDNEY, July 24 AAP 07:52AM A summary of trading in key commodities markets overseas:

$A rallies on strong inflation figures

AAP 07:40AM Currency snapshot at 0700 AEST on Thursday

Key overseas finance markers

AAP 07:17AM The stock market in New York has closed MIXED, with the S&P 500 reaching a new record high.

International markets roundup

SYDNEY, July 24 AAP 07:18AM A roundup of trading on major world markets:

Australian market set to open higher

SYDNEY, July 24 AAP 07:02AM The Australian market looks set to open higher after a mixed performance on Wall Street where the S&P 500 reached a record high.

GM recalls 718,000 more vehicles in US

NEW YORK, July 23 AFP 06:56AM General Motors has announced six recalls covering nearly 718,000 vehicles in the US, adding to its recall tally after an ignition-switch auto safety scandal.

S&P 500 at new record on Apple earnings

NEW YORK, July 23 AFP 06:59AM The S&P 500 has closed at a new record high after strong Apple earnings lifted the tech sector on a mixed day for stocks.

$A boosted by strong inflation figures

AAP 06:46AM Currency snapshot at 0630 AEST on Thursday

Oil prices climb as US crude stocks fall

NEW YORK, July 23 AFP 06:19AM World oil prices have advanced after the US government reported a surprisingly large decline in the nation's oil inventories.