BUSINESS

By Greg PeelThe Dow fell 101 points, or 0.8%, while the S&P lost 1.0% to 1441 and the Nasdaq dropped 1.

The Australian sharemarket lost ground for the second straight day, with the All Ordinaries Index (XAO) slipping by 0.3 pct or 13.7 pts to 4395.5. This was expected, due to a lack of market moving events locally and offshore between Monday and Wednesday this week in addition to weakness in global markets overnight. The volume and value of shares that exchanged hands today was extremely light once again.

Nokia seeks to realise extra revenues outside of its Windows partnership with Microsoft as it launched on Tuesday two new smartphones that will cost no more than $US100 but with features closely akin to that of the firm’s flagship Lumia handsets.

SurfStitch, Australia's biggest online surf shop, in after only 4 years of operations, has ventured into the European market with the launching of a dedicated headquarters in France, including an 8,000sqm purpose built distribution centre.

We have met the zombies... and they are us!

General Motors Co., the leading automobile manufacturer in the United States, stated on the 21st of September that the company has come up with the decision to recall around 474,000 Chevrolet, Saturn and Pontiac sedans all across the world in order to sort out a situation that could very well lead the vehicles to roll even when the drivers believe that they are in park mode.

Iran has planned to block the access to Google and create a domestic internet system for its citizens. According to the officials this is a way by means of which they will be able to improve the system of cyber security in Iran. On the contrary however, it is feared by many Iranians that this a new upcoming way of the Government to control their access to the World Wide Web.

Small scale businesses based in the U.S. could lose almost 1 million jobs in the next year if federal officials are not able to prevent across-the-board U.S. budget cuts, amounting to $1.2 trillion, which are supposed to commence as early as in January.

Windows 8, according to a new Gartner report, essentially represents a big gamble by Microsoft and a necessary one.

The Australian share market finished lower yesterday, with the All Ordinaries Index off by 21 points to 4409.2, after big slides in commodity prices out of Asia hitting mining and energy stocks. The weakness in commodity related firms continued to impact the overseas markets. The European markets held back by concern over the Euro turn-around story and how long it will take to occur, and lower than excepted business confidence out of Germany.

After prices of coal and iron ore had dipped dramatically in the past few months, another major Australian export item is at the risk of falling commodity prices: liquefied natural gas (LNG).

By Andrew NelsonDespite a run of soft sentiment that's only worsened since the March 2011 Fukushima nuclear power plant accident, it still seems fairly clear that policy makers across the globe remain committed to nuclear power for the most part.

Australia's Department of Agriculture, Fisheries and Forestry (DAFF) just granted three local firms to export 190,000 sheep and 400 cattle indicating the resumption of the country's live export to the Middle East despite the unresolved problem over 21,000 Aussie sheep in Pakistan.

A baggage handler of Qantas caught last week a 60-centimetre crocodile at its cargo hold. The reptile escaped from its cage while mid-air on a Brisbane-Melbourne flight.

Virginia Australia is opposed to the agreement between flag carrier Qantas and Middle Eastern airline Emirates. It asked the Australian Competition and Consumer Commission (ACCC) to withhold the grant of an interim authorisation until the two airlines could prove their tie-up would benefit Australian consumer.

Australian miner Rio Tinto (ASX: RIO) is planning to axe jobs in the coal mines operation of Coal & Allied due to the drastic decline in prices of the commodity and the high currency.

By Greg PeelThe Dow closed down 20 points, or 0.2%, while the S&P lost 0.2% to 1456 and the Nasdaq fell 0.

The Australian sharemarket has kicked off the new trading week in the red, with the All Ordinaries Index falling by 0.5 pct or 21.6 pts to 4409.2. Last week was a relatively uneventful one on the economic front, with a lack of market moving information released; however the XAO rose by a modest 0.5 pct over the week. On Friday, U.S equities eased a touch by 0.1 pct.

Foxconn Technology said on Monday that it will close down its Taiyuan manufacturing compound, located in the Northern Chinese province of Shanxi following a disturbance that broke out Sunday night involving the company’s factory workers.

Sichuan Airlines, majority-owned by China's provincial government of Sichuan, will now be flying direct from Chengdu to Melbourne three times a week, Victorian Premier Ted Baillieu announced during a recent trade mission to China.

After a strong close on the Australian share market on Friday, with the All Ordinaries Index (XAO) adding 11 points to 4, 430 points European market rallied. European index's up near 1% driven by gains in on news that Spain is heading closer to asking for an official bailout. This would be not great for global growth or the Eurozone recovery story, but at least we would know where we all stand.

Apple co-founder and tech icon Steve Wozniak has confirmed over the weekend that his application to become an Australian is now underway, reports said.

Western Australia (WA) Premier Colin Barnet warned on Sunday that the country risks losing the live sheep export trade in the Middle East unless the problem with 21,000 Aussie sheep under threat of culling in Pakistan is resolved soon.

In yet another classic example of excessive executive compensation while the rest of the nation is reeling from high prices and economic slowdown, officials of power firms in New South Wales are enjoying astronomical pay hikes while residents pay through the nose because of higher electricity rates.

The Australian Hotels Association (AHA) is proposing to impose a $1,000 fine on parents whose minor children enter pubs, clubs and bottle shops to imbibe alcoholic beverages. The current fine is $440 under the Liquor Act.

It's been a crucial two weeks. Germany's constitutional court ruled that the European bailout fund is legal. Ben Bernanke, Mario Draghi and Masaaki Shirakawa fiddled with the money supply in America, Europe and Japan. The result was impressive. Not much happened.

A US Senate committee has alleged that technology giants Microsoft and Hewlett-Packard avoided billions in US taxes over the past three years by transferring profits to offshore jurisdictions.

Starbucks Corp. has introduced its new single-serve brewer Verismo, which will be sold online this weekend for $199. The Starbucks Corp.

What does it mean? That QE3 will do nothing? Or that the market had already priced it in?