BUSINESS

Philippine Airlines informed that it had signed a $7 billion contract to buy 54 Airbus jets as a part of a modernization program to meet higher demands for transporting both passengers and cargo in Asia, the Middle East and Australia.

Wal-Mart Inc. vowed retailers to reject the $6 billion credit card fee settlement that Visa Inc., MasterCard Inc. and other major banks had agreed to pay to retailers.

Australian stocks closed just shy of their opening highs today, with defensive stocks leading the gains following a mixed finish on global share markets. The All Ordinaries Index (XAO) finished higher by 14.1pts or 0.3pct to 4387, after hitting an intra-day high of 4391.9pts.

The Reserve Bank of Australia (RBA) is among the bodies to suggest that loan-to-value (LTV) ratios should be capped for property lending in Australia.

Efforts to lure corporate travellers from rival airliner Qantas Airways Ltd. had definitely paid off, as Virgin Australia Holdings Ltd., Australia's second-largest airline, posted a full-year profit of AU$22.8 million (US$23.6 million), up 134 per cent from the AU$67.8 million loss a year ago.

Blazing wireless internet connectivity will be enjoyed by more than 60 percent of Australians come mid-2013 courtesy of the country’s leading telco Telstra Corporation.

Yesterday the local share market closed slightly weaker and today the start of trade was very muted, we had low volumes being traded and once again investor caution leading the way.

All construction work at the Cotter Dam site was stopped on early Tuesday morning by the Construction, Forestry, Mining and Energy Union (CFMEU) over safety concerns.

Three rare Australian coins sold for almost $900,000 at a Melbourne auction on Monday night. The sale broke two records.

Two mining projects will change owners amid speculations if these developments confirm the end of Australia's mining boom.

By Andrew NelsonYou can call it a support, or you can call it resistance, but either way uranium has stayed within a few dollars of US$50/lb for a long time now.

Acting Health Services Union (HSU) National President Chris Brown is studying the filing of 10 charges in a bid to oust whistleblower and HSU National Secretary Kathy Jackson.

The next time one of your customers wants to browse listings on realestate.com.au, they may well reach for their touchscreen tablet or phone, instead of their computer.

Last Friday, we got a little more enthusiasm in the markets... a little more spark...

By Greg PeelThe Dow closed down 33 points or 0.3% while the S&P was flat at 1410 and the Nasdaq gained 0.

Despite a positive start, the local share market closed slightly lower today with investors unwilling to take on too much risk ahead of an important week on the global front. Chinese shares fell to their lowest level in three and a half years, following a fall in profits from industrial companies. After rallying to an intra-day high of 4402.9pts, the local market closed down 3.6pts to 4372.9.

The market responded positively with the Sundance Resources (SDL: ASX) announcement that it has accepted the lower and revised takeover offer of China's Hanlong Resources.

GM Holden has announced Monday the recall of more than 51,000 units of vehicles that the carmaker assembled and marketed in South Korea between 2007 and 2010, pinpointing faulty brake modules as the likely cause of the unprecedented move.

The global smartphone market has become more ‘exciting’ as an American jury found Samsung actually infringed on a number of patents exclusively owned by Apple, tech experts said.

In 2011, Australians lost a total of $4.8 billion to cybercriminals, according to a Norton cyber crime report released on Monday.

The Australian share market has regained some Friday´s lost ground today. On Friday night we saw the US market rallying higher on expectations the US Federal Reserve members stated they were willing to restimulate the US economy if needed and positive comment out of Asia. The All Ordinaries Index (XAO) opened up 24 points higher, but by lunch had given back a bit of ground, holding on to a 15 point gain at 4,391 points.

The current price of iron ore at $100 per tonne is expected to drop further to $80 before the price would recover, experts said on Monday.

Japanese finance minister Jun Azumi has hinted that his government may renege on a deal to purchase bonds from their South Korean counterparts, reported the Wall Street Journal on Friday, after bilateral tensions erupted earlier this month following South Korean President Lee Myung-bak's visit to a group of islands claimed by Japan.

Perth residents trooped to shopping malls and other retail outlets on Sunday for the first time as Western Australia's amended Sunday trading laws took effect on Aug 26.

By Mike Kapsch, Investment U ResearchStrange happenings are afoot in the platinum market...Despite prices falling as much as 28% over the past year, investors are still betting heavily on further declines to come.

Great gobs of money continue to drain away from stock mutual funds.

Still in the Dog Days of August... and still the old dog is taking it easy... lying in the shade... panting in the heat of the day.

'Republicans eye return to gold standard' reads the headline in this morning's Financial Times.

BHP Billiton (ASX: BHP) may have shelved expansion plans at the Olympic Dam, but the mining giant is still on an expansion mode in other areas of operations. BHP Chief Executive Marius Kloppers disclosed on Sunday that the company will boost its coal output in Queensland by 50 per cent by hiking production at 10 per cent for the next two years.