BUSINESS

Three weeks before the opening of the Winter Olympics in Sochi, Russian President Vladimir Putin has pounced on critics, particularly American critics opposed to his country's anti-gay laws. He specifically told them to look at themselves in the mirror first before throwing tantrums and verbal shenanigans against Russia.

Tokyo Electric Power Co (TEPCO), embattled operator of crippled Fukushima nuclear power plant, has detected a new radiation contaminated water leak at the plant's No. 3 reactor building.

Large amounts of rainfall are expected to fall down on New Zealand and Australia early this week. Kiwi farmers at upper North Island however are excited over the development.

Bitcoin automated tellers machines may be proliferating all across Canada, but the country's finance department was quick to warn residents the digital currency has yet to be recognised as a legal tender.

The Australian sharemarket is losing ground following a mixed and uninspiring session from global markets on Friday. The main potential driver of local stocks this afternoon is likely to be a barrage of Chinese economic readings at 1pm (AEDT). Volume is expected to be on the light side globally, with the Martin Luther King Jr holiday keeping U.S. markets closed tonight.

The Rockstar Games' "Grand Theft Auto V" (GTA 5) videogame featuring Herr Kutz Barbers was reportedly copied from a real shop in Plymouth, Devon without permission from its owner Anthony Braddon.

Residents living in Canada's Toronto and the rest of the GTA are advised to take the necessary precautions in anticipation of blowing snow and frigid temperatures expected to blast the region on Sunday lasting through Monday.

Expectations are growing that 2014 will be the year that commodities will return to the winners' cycle, after having seen the likes of corn, silver, gold, nickel and platinum all falling into bear markets in 2013, with 23 commodities finishing last year in the red.

n US economic news, the University of Michigan US Consumer Sentiment Index eased from 82.5 to 80.4 in January. US industrial production rose by 0.3% in December, with manufacturing output up 0.4% in the month. For the quarter industrial production advanced at a 6.8% pace - the fastest quarterly growth rate in over three years. US housing starts fell by 9.8% in December - marking the biggest drop in nine months. US building permits fell by 3% in December. Weather may have played a part in the wea...

An Australian federal court fined two Aussie energy firms $125,000 for claiming the solar panels they were selling were made in Australia when it was really manufactured in China.

The Australian share market closed slightly lower today as the banks and miners fought it out. Some great gains from the likes of BHP Billiton (BHP) and Rio Tinto (RIO) were offset by falls in the banking sector and from retail stocks. The All Ordinaries Index (XAO) finished the day's session lower by 3 points or 0.1 per cent to 5316.4 points.

The New Zealand dollar broke records when it surpassed the Australian dollar due to weak jobs data in Australia and differences in interest rate outlooks between neighbour countries. The Kiwi dollar climbed as high as 94.80 Australian cents as it traded against the Aussie at 94.72 cents on Jan. 16. It is the highest climb of the Kiwi dollar in 8 years. The local currency soared to 83.44 U.S. cents from 83.29 cents as of the same day.

2015 Nissan Micra makes its very first appearance at the Montreal Auto Show on Jan. 17. The car is set to start a new era for Canadian customers to enjoy unbeatable value for their money.

Canadian Governor General David Johnston on Thursday announced the country will be having royal visitors in May. The Prince of Wales, Charles, and the Duchess of Cornwall, Camilla, will be visiting Manitoba, Nova Scotia and Prince Edward Island (P.E.I.) four months from now.

The Australian sharemarket was up for the third consecutive trading session on the open; however the gains were short lived. The All Ordinaries Index (XAO) is now slipping by 0.2 per cent at lunch, with the miners the main supportive mechanism for stocks after 2.5 hours of trade. Weakness across almost all major sharemarkets last night and disappointing profit results from major U.S. financial institutions are contributing to the losses.

The AUD remains as one of the more interesting G10 currencies around, as it has again weakened against all 16 major trading pairs on what was one of the most disappointing employment change data releases in years.

In US economic news, the NAHB housing market index dipped from 57 to 56 points in January, suggesting home builder confidence had faded a bit at the start of 2014, although most developers expected the housing recovery to continue. US jobless claims fell by 2,000 to 326,000 in the past week. US consumer prices posted the largest gain in six months, rising by 0.3% in December to be up 1.5% over the year. Core prices rose by a much more sedate 0.1%. The Chicago PMI was revised higher from 57.9 to ...

Rio Tinto (ASX: RIO) apparently has made the right decision in placing Sam Walsh at the helm of the company. A year after being appointed CEO, Mr Walsh has broken company records when he reported on Friday that the miner had produced 266 million tonnes of iron ore.

Passengers of Air New Zealand would soon have more destinations to fly to using the carrier. Reports said Air New Zealand would soon announce the major expansion of its routes and fleet on the heels of the airline inking a deal this week with Singapore Airlines, its erstwhile rival.

The Australian Energy Market Operator (AEMO) warned on Thursday big power users in South Australia and Victoria of the possibility of massive blackouts due to the high demand for electricity caused by the heat wave.

The heatwave took its toll on 4,179 sheep that died aboard the vessel Bader III on the way to Qatar from Perth. The Herald reported on Thursday the incident which actually happened in August 2013 aboard the exporter Livestock Shipping Service's (LSS) Bader III vessel.

Apple's CEO Tim Cook is optimistic of iPhones doing well in China as China Mobile, the world's largest mobile carrier, starts selling iOS devices Jan. 17. In a brief interview with the Wall Street Journal and other publications, Cook hinted at Apple's future plans in China and said it is only the "beginning."

The Australian share market had its best performance for 2014 today, adding to yesterday's gains and more than making up for the losses on Tuesday. The All Ordinaries Index (XAO) rose 63.9 points or 1.2 per cent to finish at 5319.4 points.

Pope Francis has decided to auction his 1,585cc Harley-Davidson Dyna Super Glid for charity. The rocker bike was donated to the supreme pontiff of the Roman Catholic Church in June 2013.

A Chinese company attempts to revive the Titanic with a theme park to be constructed at the Sichuan province.

Disregarding strong public opposition and reneging on its own word, Japan on Wednesday has given Tokyo Electric Power Co. (TEPCO), embattled operator of the crippled Fukushima Daiichi nuclear power station, the go signal to revive its Kashiwazaki-Kariwa nuclear facility.

Google Inc. has been found not playing fair and square in Canada. The country's federal privacy watchdog said the Internet services provider violated Canadian privacy law through targeted online health advertising ads.

The Australian share market is performing well in early trade on the back of gains in European markets and on Wall Street overnight, and in spite of disappointing local jobs numbers which have sent the Australian dollar to a three year low.

Both Europe and the US reacted positively to the news that the World Bank is raising its global growth forecast for 2014 by 20 basis points to 3.2%. The reaction from the developed world was further driven by where the growth is coming from, with developed nations component upped to 2.2% from 2%. The slight disappointment was that developing nations had their outlook cut slightly to 5.2%.