BUSINESS

Australian shares are falling for the second day with a falling oil price holding back mining and energy sectors most. The ASX 200 Index is down 0.7 per cent following Monday's 0.8 per cent tumble.

Google has unveiled a working prototype of its self-driving Google Car in California. The vehicle looks like a little beetle pod with two large headlights and a nose at the front and rounded corners. Once ready, the car will be able to drive, stop for pedestrians, obey traffic signals, watch out for hazards - all without the need for a human driver.

Biogen has acquired Convergence for its portfolio of pain treatments and key drug for neuralgic pain.

Sanofi and Regenron have found that their Alirocumab treatment is successful in controlling bad cholesterol levels in patients.

Investors are cautiously watching the price of oil and its impact on global stock markets after supply glut led to a fall in the commodity’s price.

Oil prices have again been the stand out story overnight. Who breaks the stalemate and cuts production first, OPEC or US shale producers?

There is no escaping crude's effect on global markets. A fresh five-and-a-half-year low in both West Texas Intermediate (WTI) and Brent now see the oil prices well below US$50 barrel as it marches towards the expected support level of US$40 a barrel.

The Raffles Hotel in Perth has officially banned Lycra shorts on its premised. The prohibition was because of the complaint of hotel guests that many cyclists who wear Lycra biking outfits are sweaty and smelly.

BHP Billiton (ASX: BHP) has sought the permission from the federal government to increase the height of the walls of its tailings dam at its Olympic Dam mine in South Australia by 10 metres from 30 to 40 metres.

In US economic data, the employment trends index rose from 127.83 to 128.43 in December.

The Australian sharemarket has followed US and European markets into negative territory today - putting an end to a two-session rally. The All Ords (XAO) has closed near the day's lows, losing 0.7 percent to 5,399. While the ASX 200 (XJO) fell 0.8 percent to 5,422.

Lynx has featured a gay kiss on an Australian TV ad, and has earned praises for it.

Australian shares have kicked off the trading week in the red following the best gains of the year on Friday. The ASX 200 Index is down 0.4 per cent with all sectors losing ground. This follows global sharemarket weakness and a drop in commodity prices.

Thousands joined a global unity rally in honour of those killed by extremists during the Charlie Hebdo attacks in Paris.

Concerns about the possibility of a recession in the Russian economy continue and the country faces new challenges in 2015.

The Australian Dollar has opened around the .8200 level as US non-farm payroll numbers were better than expected but wage growth disappointed.

The US earnings season begins tonight and Australia's earning season begins in two weeks; expectations for the both are low at best.

Myanmar Deputy Finance Minister Maung Thein announced over the weekend the formation of the country's first stock market by October, the Yangon Stock Exchange.

In US economic data, non-farm payrolls (employment) rose by 252,000 in December, ahead of forecasts for a gain of 240,000. The unemployment rate fell from 5.8% to 5.6%. And average earnings fell by 0.2%, short of forecasts for a 0.2% gain. And wholesale sales fell 0.3% in November with inventories up 0.8%.

On Tuesday, American boxer Floyd Mayweather Jr lost the chance to earn a guaranteed purse of $120 million after a group of investors from the United Arab Emirates withdrew their offer made in November. The investors, which includes royals, were disappointed in Money May's lack of commitment to fight Filipino boxer Manny Pacquiao.

The Bank of New Zealand has predicted the economy to head into a 6-month deflation following global overcapacity and weak oil prices.

Separation from iPhone causes users to perform poorly on tests and feel disoriented.

The local share market has wrapped up the last trading day of the week on a positive note, finishing close to the day's highs. The All Ords (XAO) jumped 80 points or 1.5 percent to 5,440, while the ASX 200 (XJO) climbed 84 points or 1.5 percent to 5,465.

Nico Roseburg teased his Mercedes team mate Lewis Hamilton on social media as the latter turned 30 on Jan. 7th.

The Australian sharemarket is off to its best start of the week with the ASX 200 Index up by 1 per cent. This is ahead of the single most important piece of data; the US non-farm payrolls (a monthly jobs report) out tonight at 12.30am AEDT.

Formula One executives recently held a meeting in Geneva to discuss about the possible return of 1000hp cars in the sport.

Falling oil prices have once again put the focus of global investors on Europe that is facing slow GDP growth.

The US market had its second day in the green yesterday, which saw it recoup over all its losses year-to-date.

In US economic data, new claims for unemployment insurance (jobless claims) fell by 4,000 in the latest week to 294,000. And the number of announced job layoffs (Challenger survey) fell from 35,940 to 32,640 in December.