BUSINESS

In US economic data, the ISM manufacturing index eased from 55.4 to 55.3 in June. A figure above 50 indicates expansion. The sub index of new orders hit a six-month high, a good sign for business capital spending. On a negative note export orders were weaker. The Markit US Manufacturing PMI rose to 57.3 in June - the highest since May 2010. US construction spending rose by a lower than expected 0.1% in May.

The first day of the new financial year was much like the last in that sellers remained in control of the share market. The ASX 200 made new lows in the last hour of trade, although the index was able to finish the session off those levels. Compared to Monday where there were losses across the board, Tuesday was slightly more positive with a number of sectors ending with gains for the day.

It's been a bit of a choppy start to the new financial year for Australian stocks. The All Ordinaries Index (XAO) has been in and out of positive and negative territory, reaching a high of 5400 points and a low of 5371.6 points. At lunchtime in the East the All Ords is down 0.1 per cent to 5378.1 points.

Concerns of radiation from Fukushima affecting Alaskan seafood have been ruled out by the U.S. Food and Drug Administration.

A joint research conducted by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI) claimed that 2014 will be the year when real estate markets "recover from the recovery," as buoyed by steadily growing demand for commercial real estate properties.

Defying odds, US space agency NASA will relaunch today a satellite that will track the global warming-inducing carbon dioxide levels and its effects around the world.

Global markets wrapped up the second quarter of the year on a mixed note on the back of some mixed economic data. In US trade, Chicago PMI missed estimates, while pending home sales came in well ahead of estimates. The housing market certainly continues to show some strong signs of improvement and this is helping lift confidence. Despite some encouraging data, the US dollar broadly lost ground, with the dollar index slipping below 80 for the first time since May. GBP/USD finally managed to break...

US San Francisco Fed President Williams (non-voter) spoke overnight and reiterated that he does not expect the Fed to raise interest rates ´´for some time´´. Although he did not specify what time period he had in mind, he has previously said that he expects a move in the second half of 2015.

Angry Mexicans have vowed never to ride again in Dutch air carrier KLM after the airline posted a racist tweet after Mexico lost to The Netherlands on Sunday in the ongoing World Cup games in Brazil.

The second-largest private hospital operator in Australia, HealthScope, said on Monday that it would seek up to $2.6 billion through an initial public offering. It would be the biggest IPO in the country since 2010.

Blackberry CEO John Chen wants to believe that the Canadian technology company is not yet dead, despite all signs pointing to an imminent for the once number 1 technology firm in the world.

Although China's red-hot economy has slowed down, the Asian giant is still the envy of many western economies that suffered contraction after the global financial crisis in 2008, while Beijing was logging double-digit GDP growth rates. However, a report by Bloomberg released on Monday indicated that the price of success of China's economic miracle is overworked workers that some were literally dying on their work stations.

IBM completes is nearing completion of its $1.2 billion global investment with Softlayer data centre in London.

The Australian share market ended the last trading day of the 2013/14 Financial Year in the red, however it has still been a solid 12 months for investors.

Sellers have been largely unopposed in the first part of the session on Monday. Almost every sector measured by the ASX has been in retreat in the absence of any strong lead from Wall St. Mining stocks were generally lower although the influences from underlying prices weren't significant. Base metal prices ended mostly lower, but nickel and zinc - both metals subject to supply-side issues currently - bucked the trend and finished higher. Precious metals were mixed, while global crude oil ben...

The housing affordability across New Zealand has worsened, according to Massey University’s Home Affordability Report. The new report reveals the price of houses in the country will continue to rise in the coming years.

At least 200,000 are now displaced in Paraguay, forced to flee their homes after floods caused by incessant torrential rains inundated the Paraguay and Parana rivers.

Relaxed but looking tired, Pope Francis has resumed to his post as spiritual pontiff of the 1.2-billion strong Roman Catholic faith, appearing on Sunday at a two-hour-long Mass in St. Peter's Basilica. Concerns are growing for the pope's medical situation as he has been abruptly cancelling appointments lately, or at least four times in the last seven months.

Equities finished the week on a positive note despite limited leads to work off. Additionally there were no major developments from the weekend and this really limits the leads heading into Asian trade. There were some minor headlines on the geopolitical front, with Iraq's military reclaiming some ground from militants, but this seems to have been balanced out by reports that Ukraine has asked Russia to strengthen border controls.

Apple Inc. reclaims number one spot in Barron’s list of The World’s Most Respected Companies

In US economic data, the University of Michigan final reading on consumer sentiment rose from 81.9 to 82.5 in June, mildly above expectations. Interestingly 1-year inflation expectations index fell from 3.3% to 3.1% - the lowest reading in six months.

At the end of the New South Wales Supreme Court's hearing of the Rinehart family feud on who should replace mining billionaire Gina Rinehart as the trustee of the $5-billion trust that controls about 25 per cent of Hancock Prospecting, youngest daughter Ginia admitted being hurt by brother John's remarks about her.

ANZ has combined daily banking features with a comprehensive wealth management solutions in a new app it just released.

After Apple's stock split on June 9, the price per share has dropped to around $92.

An international ratings agency has warned Australia of its "overheating" housing market despite the country's "very high" economic strength.

An international ratings agency has warned Australia of its "overheating" housing market despite the country's "very high" economic strength.

The Australian share market closed out the week on a negative note, with the All Ordinaries Index (XAO) closing lower by almost 18 points or 0.3 per cent to 5429.1 on Friday. Over the course of the week, the market finished higher by 0.5 per cent, thanks to the strong gains yesterday coupled with Monday's win.

Canadian food retailer Sobeys and its parent company Empire Co. will be closing 50 stores all across the country due to underperformance. Majority of the closing stores are located in Western Canada.

The radio industry in the US is talking about the firing of 1310 WIBA/AM morning talk show host Mitch Henck. His boot not only ends Henck's 12-year stint with the radio station, but also highlights the shift of the industry toward syndicated content, leaving no room for local voices.