BUSINESS

With the prospect of tapering only days to weeks away the effect on the global is starting to ramp up.

In US economic news, retail sales rose by 0.7%, ahead of forecasts for a gain of 0.6%. Excluding gasoline and autos, sales rose 0.6%. Import prices fell 0.6% in November while export prices rose 0.1%. And claims for unemployment benefits rose by 68,000 to 368,000, well ahead of forecasts for a rise to 320,000. The Labor Department said that a late Thanksgiving affected seasonal adjustment of the data.

Economic forecaster Deloitte is not limited to projecting GNPs and inflation and unemployment rates, but has also forayed into technology predictions.

With Australia rejecting same-sex marriage and India banning consensual gay sex, nobody needs more gay jokes. Thus, a dollar store in Manitoba, Canada, had to pull out a gag gift that claims to cure homosexuality.

The Commonwealth Bank of Australia (CBA) rolled out on Thursday its tap-and-go service for mobile phone that would deliver users a next-generation shopping experience and makes paying for everyday goods and services simpler, making signatures or PINs unnecessary.

Oil and gas giant Chevron is blaming the high labour cost, logistical challenges on its remote sites and delays caused by weather as the main reasons why its Gorgon liquefied natural gas (LNG) project in Western Australia is on a second cost blowout.

By Ashley JessenASX Top Gainers & Losers plus Market Snapshot - 13 December 2013Despite negative leads from overseas and a shaky start to our trading session, the local S&P/ASX200 actually managed to put a halt on the seriously oversold conditions, coming off six straight down days to post a gain of...

Miramax filed a lawsuit against Warner Bros. Entertainment for proceeds from the upcoming second and third installment of “The Hobbit” Tuesday, Dec. 10.

All have been searching for a magic wand to bring huge traffic to our Web site. Many wonder if there is any password to the eternal mystery of online traffic. But the truth is there is no trick. We only have techniques that require dedication and consistency.

Apple is rumoured to be keeping its distance from Samsung to reduce its reliance on the Korean tech giant. However, it seems that despite Apple's attempt to steer clear out of its production, Samsung is reported to manufacture the A8 chip of the next generation iPhone 6.

The Australian share market closed in the red for a sixth consecutive session today, weighed down by a weak offshore lead and downbeat day across the Asian region.

Apple Inc's employees ranked the company No. 35 in Glassdoor's Best Places to Work 2014. Twitter Inc was voted the best place to work in 2014 with a rating of 4.6 compared to Apple's 3.8.

China's most expensive priced carbon market is set to launch on Dec 16 in the southern province of Guangdong.

After the US markets sold off again overnight it was good to see the Aussie market holding up well at the start of trade.

New Zealand's population has now officially reached 4.5 million.

Canada's government-owned postal agency on Wednesday announced the looming closure of its door-to-door home delivery over the next five years. But the country's senior citizens and disabled aren't happy about it.

Toyota, allegedly, is using Holden's closure to compel workers to accept poorer work conditions.

While the progress in the US budget negotiations is certainly a positive for sentiment, it seems the short-term reaction is some selling in equities on fears this strengthens the case for a rapid winding back in asset purchases. Data flow was limited with the Federal budget balance being the main release on the calendar and managed to come in ahead of estimates. With the US fiscal situation continuing to strengthen, many analysts feel some potential headwinds for the US economy are swiftly being...

In US economic news, mortgage applications rose by 1.0% in the latest week with the purchase market up 0.9% and the refinance index up 2.1%.

It would be a bleak Christmas 2013 for over 500 workers of Kellogg's in London, Ontario, Canada, who were informed on Tuesday morning that the plant would soon close and they would lose their jobs.

General Motors announced on Tuesday that it will close its Holden manufacturing facility in Australia in 2017. In the process, 2,900 jobs will be lost.

By Greg PeelThe Dow fell 129 points or 0.8% while the S&P dropped 1.1% to 1782 and the Nasdaq lost 1.3%.

Air Canada offered a non-stop flight from Sydney to Toronto on a daily basis and the Cape Breton business community loves it.

The Australian share market has closed in the red for a fifth consecutive session, dragged down by a downbeat lead from Wall Street and as a reading of consumer confidence in Australia fell to its lowest level since July.

The Smarty Ring Bluetooth-enabled wearable gadget for easy smartphone alert checks and incoming call management is finally here! Move over, Samsung Galaxy Gear watch, Pebble Watch and Sony SmartWatch, here comes the latest wearable gadget designed to work in sync with one's smartphone. It is much sleeker, fashionable and easier to wear than the smart watches out there today. It can be worn even if you are dressed casually or dressed to the nines.

The selloff that started in earnest in the early part of November has neutralised the October rally. It's back to square one in some respects. The area around 5150 has taken on new significance as a result. The way prices behave around these levels will reveal valuable insights into market sentiment. At this point it appears as though sellers remain in the ascendant notwithstanding the 300 point retracement that has been a feature of recent weeks.

Air New Zealand has announced it is on target to experience a 20 per cent jump in profits in the six months ending December 31.

- Woodside production guidance lacking- Low capex a positive- Leviathan still an unknown- Cash flow remains solidBy Greg PeelWoodside Petroleum ((WPL)) held its annual investor update yesterday.

Qantas staff will start wearing the controversial uniform modeled by Miranda Kerr starting Thursday, Dec 12.