BUSINESS

A mortgage broker in Western Australia has been found guilty of bilking as much as $1.2 million from seven borrowers and using the cash to pay his credit card bills and other debts.

After four years of housing market slump, in early-2012 house prices in the Netherlands continue to fall.

Nothing excites Australians like house prices and mortgage rates. It is no surprise, therefore, that the recent decision by major banks to increase interest rates 'outside the cycle' - that is independently of the Reserve Bank of Australia (RBA) - has led to hyperventilation among consumers and politicians.

Australian banking major ANZ has defended its policy on interests in a letter addressed to The Age from its Australian operations chief Phil Chronican who argues that the cost of funding has increased substantially, and provided data to support his claim.

Nicholas Moore, chief executive of Macquarie has added his voice to growing calls made by leaders of industry for interest rates to be cut next week as a means by which confidence in the country would be boosted by helping export based industries who are currently suffering from the high value of the Australian dollar.

Your Facebook account will soon be like your iOS and Android phones as it will launch its App Center in the coming weeks.

Australian miner Dart Energy said on Friday that it would no longer drill a coal seam gas (CSG) well in St Peters, Sydney, The firm confirmed its statement in a filing with the Australian Securities Exchange.

Today we take up the challenge of the art of stock valuation in a world of monetary madness. We're already a few years into what's probably going to be a prolonged bear market.

The U.S. Federal Reserve has given permission to three Chinese state-backed banks to set up branches within the U.S.

London's finance sector is facing a 16-year low in the number of available jobs, said the Centre for Economics and Business Research (CEBR) on Wednesday, with the euro zone crisis expected to cause more than 25,000 layoffs in 2012.

By Greg PeelThe Dow closed up 19 points or 0.2% while the S&P gained 0.3% to 1357 and the Nasdaq was flat.

Facebook, the largest social networking site in the world recently announced that they will be launching their own app store. This is the company's latest strategy in profiting from the large population registered in Facebook.

While Nokia Australia confirmed that no Pureview 808 will be heading on the land down under, two Windows Phones are on their way to invade the Sydney Shores.

Retailers are hoping that Australians would spend some of their budget handouts on shopping to lift the industry.

Before you continue with today's Reckoning, do yourself a favour and watch Murray's stock market updateon YouTube from yesterday. The Slipstream Trader points out that the ASX/200 staged a 'false break out' on Friday around the 4416 level. If you're unfamiliar with his theory of price action, that means the new high isn't a bullish signal but a 'false' signal.

With a potential merger between US Airways and American Airlines already in place, the airline industry is experiencing yet another shakeup.

Rio Tinto officials have admitted that challenges in the near-term could hamper the mining firm's full-growth capability, chief of which is the increasing cost of producing the company's prime commodities - iron ore and coal.

A proposal to extend country of origin labelling to unpackaged beef, sheep and chicken meat in Australia by Food Standards Australia New Zealand (FSANZ) has received support by the Australian Made, Australian Grown Campaign (AMAG).

Economists are forecasting that when the Australian Bureau of Statistics (ABS) releases unemployment data on Thursday, it would show joblessness has risen to 5.3 per cent in April from 5.2 per cent the previous month.

By Jonathan BarrattFrom last week's comment to today's represents a complete reversal of our ideas.

By Greg PeelThe far left Syriza party is attempting to form a government in Greece on a policy of abandoning the troika's bail-out measures yet remaining in the euro.

Nokia Australia confirmed that it will not release its new smartphone PureView 808 in the land down under.

Ford Motor is eyeing growth prospects in the Asia-Pacific region, specifically in China where car sales are expected to reach 30 million units over the next 10 years, reports said.

Are you addicted to your morning cup of coffee and love your new pod coffee machine? Well here is a great idea to use those pods instead of just tossing them out!

By Greg PeelThe three big "headline" influences in current global financial markets are Europe, China and the US.

Norway's sovereign wealth fund has sold off its entire holdings in Irish and Portuguese government bonds, and reduced their share of Spanish and Italian bonds.

Asia is set to produce more solar power than any other region in the world over the next five years.

By Greg PeelThe Dow closed down 76 points or 0.6% while the S&P lost 0.4% to 1363 and the Nasdaq dropped 0.

Microsoft is trying to increase the sales again of the Xbox 360 by offering it at a cheaper price.