BUSINESS

In Australia, we seem to have a cultural view that our 'material abundance will last forever'. What people don't seem to realise is that our material abundance, and our ability to take advantage of this material abundance, doesn't come close to covering the bills we're racking up in the pursuit of a high standard of living.

The Australian sharemarket slipped for the fourth time in five sessions today, with the All Ordinaries Index (XAO) easing by 0.2 per cent or 10.5 pts to 4360.1. The local market fell by 2.7 per cent this week, making it the biggest weekly slide in value since May. Interestingly, barely a month ago the Aussie market hit a 14-month high but has dropped in value by 5 per cent since.

If the first day sale of Nexus 4 were an indicator, it would be a Merry Christmas for Google since reports said that within hours, consumers snapped up units in Australia, United Kingdom and several other nations after the stores opened.

Microsoft is poised to pull off more surprises over the next few years but its chief executive, Steve Ballmer, is keeping all the details close to his chest for now, refusing to confirm talks of upcoming hardwares from the software giant.

Like Apple, Samsung thought it wise to have its own Mini but not a smaller tablet. Instead, the South Korean decided to serve a downsized version of its bestselling handset so far, the Galaxy S3, which recently outpaced the iPhone as the most sought-after smartphone brand in the world.

Local stocks have hit fresh seven week lows in the early session, following more weakness on European and US markets overnight. Data showed the European economy is officially in recession, and whilst this was no surprise, it did give investors reason to sell. US markets were also sold-off after the world's largest retailer Wal-Mart disappointed with profit results.

Due to the growing popularity and higher demand for its use, Instagram just launched a PC version called Instagrille. This free desktop app provides all Instagram experience from the mobile to the PC.

By Peter Switzer, Switzer Super ReportAnother month and another challenge for investors and I suspect it will get worse before it gets better.

Gartner's third quarter report for 2012 released on Thursday showed that South Korean tech firm LG remained in fifth place in overall global mobile phone sales by vendors.

To ensure growth and carving for Australia a bigger niche in the multibillion-dollar global industry, Australian Arts Minister Simon Crean announced on Thursday the creation of the Australian Interactive Games Fund.

Australia's woes with its farm animals raised for their meat appears to be unending. After 21,000 Australian sheep were culled in October in Pakistan over suspicions of bacterial contamination, another 50,000 chickens in New South Wales were quarantined this week by state authorities.

By Greg PeelThe Dow closed down 28 points, or 0.2%, while the S&P lost 0.2% to 1353 and the Nasdaq fell 0.

The Australian sharemarket lost ground for the third time in four days, with the All Ordinaries Index (XAO) falling by 0.9 per cent or 40.1 pts to 4370.6. So far, this has been the worst performance by the local market in half a year while shares are also trading at around two-month lows.

Australia has been ranked as the top among global countries with the best cigarette package health warnings, according to an international report released by the Canadian Cancer Society.

Nokia badly needs a lifeline, research firm Gartner said on its latest report, which showed that the Lumia 920 maker crashed out from the coveted list of the top five biggest smartphone makers in the world.

BlackBerry maker, Research in Motion (RIM), is frantic but confident in conquering the world consumer market as the struggling company readies its new handsets topbilled as the new Blackberry 10.

Local stocks have hit a seven week low in the early session, dragged down by more falls on US and European markets overnight. Key banking, energy and mining stocks are all in the red, with the All Ordinaries Index (XAO) down 45.5pts or 1pct to 4365.2.

Small footprint and easy on the hand (but not necessarily on the pocket) easily land the iPad Mini on everyone’s shopping list, plus of course the excitement that gradually built up on the gadget prior to its unveiling last month by Apple.

Much of the world barely noticed but yes Apple actually released the iPad 4 alongside with the iPad Mini a few weeks ago and it has generated enough buzz, at least for those paying keen attention.

Anyone who has a mobile phone probably owned at least one Motorola unit in his lifetime. Motorola used to be the global leader in mobile phone sales in the 1990s until Nokia, Apple and Samsung stepped up their game and caused Motorola sales to plummet. Based in Schaumburg, Illinois, Motorola lost $4.3 billion from 2007 to 2009, which caused the company to be divided into two independent units, Motorola Mobility and Motorola Solutions.

The Android dominates the global smartphone market. A recently released Gartner report found that for the third quarter of 2012, Android comprised 72.4 per cent of mobile sales worldwide.

With the Christmas shopping season about the begin, Australians would have an alternative way to purchase goods without bringing cash or credit cards. All they need is their photo ID under a new in-store payment system announced by PayPal on Wednesday.

'Boom crash opera!' In keeping with this week's musical theme, that's how we'd describe yesterday's drama in the Australian share market. The ASX/200 fell over one and a half per cent by the close. It was an equal opportunity blood-letting, with the banks and the miners being hit.

According to the popular press, if we lose our grip we will surely fall into the red-hot bowels of Hell.

Last week I said 'Look out for a very sharp sell-off in the S+P 500 once it snaps beneath the 1390-1400 area, which is currently providing strong support. It will only take one nasty night to break through and then we will see a distinct shift in momentum.'

By Greg PeelIt is a truth universally acknowledged that official Chinese data are rubbery at best. As to just how rubbery, or worse still, manipulated, they are is anyone's guess, given the difficulty of foreign access to Chinese data and the lack of a reliable database for Beijing to use in th...

By Greg PeelThe Dow fell 185 points or 1.5% while the S&P lost 1.4% to 1355 and the Nasdaq dropped 1.3%.

The selling of recent sessions subsided for regional stocks today, although investors remain vigilante. The price action on global markets in the last day has been less than encouraging. Political developments on either side of the Atlantic will continue to be the main influence of sentiment in the near term.

Three million units sold so far and counting – that’s the measure of success attached with the Samsung Galaxy Note 2, which later on this month will be challenged by HTC’s Droid DNA and other phablets in the months and quarters ahead.