BUSINESS

By Rudi Filapek-Vandyck, Editor FNArenaLet's start with the good news: most of you are already on holidays (I can tell by the many emails returning this morning) and the share market is trying its best to put a positive end to what has been an extra-ordinary year, in my view.

Mobile devices are set to surpass the traditional desktop PC as the most common way to access the Internet. With more users turning to their phones to send email, downloading applications and watching videos why are U.S carriers still feeling the pinch?

- Global steel price upturn expected early in 2012- Market conditions not uniform- US seeing some price increases, Western Europe market weak- Asian markets mixedBy Chris ShawIn the view of steel industry consultant MEPS, a global steel price upturn is expected early in 2012.

By Rudi Filapek-VandyckUS equities closed near their highs for the day. The Dow gained 61.91 points, 0.

Local stocks once again ended in the red today, as investors remain cautious about buying equities in the lead up to the end of the calendar year and due to more uncertainty in the Eurozone. The All Ordinaries Index (XAO) closed down 48pts or 1.2pct to 4142.8 while the S&P/ASX 200 Index (XJO) fell 48.7pts or 1.2pct to 4090.8.

The changing climate has made it more difficult to predict weather patterns that could either be damaging to life and property. Some architects from the U.S. and Asia have devised the latest of designs in order for homes to withstand the wrath of Mother Nature.

The Regional Rail Link Authority of Victoria announced on Thursday the award of $1.6-billion rail contracts to three bidders. The Leighton Group, Lend Lease and UGL won the bid to build a part of the $5.3-billion Regional Rail Link project.

The International Trade Commission issued a preliminary ruling that found Motorola Mobility Holdings of infringing on one of the seven patents held by Microsoft Corp.

Australia will purchase from the United States 10 military planes and other equipment worth $950 million. The Defense Security Cooperation Agency informed the U.S. Congress on Wednesday on the sales of C-27J aircraft, missile warning systems and radar.

The Western Australian government rejected on Wednesday the application of LD Operations to run a coal mine at Osmington hear Margaret River.

Australians drank less beer in 2011 causing a 6 per cent decline in domestic beer consumption. Despite this development, brewer Coopers expanded its market share by 1.5 per cent and produced a record 62.9 million litres of beer.

It was a bad year of Australia's insurance industry which had to pay out more than $4 billion in insurance claims due to the natural calamities that battered the country in 2011.

Bell FX Currency Outlook: After a bullish run throughout yesterday's local session, the AUD has been sold off again overnight.

Google Inc. has successfully patented its futuristic driverless car technology that allows a human driver to pass the wheel to the self-driving car.

LightSquared is pressing the U.S. Federal Communications Commission to approve its right to use its radio spectrum to build a national 4G wireless network. The company filed a petition for declaratory ruling to the FCC on Tuesday.

IBM released its sixth annual "5 in 5" which lists the five technologies the company thinks will come true in the next five years. The predictions aren't really predictions about the tech world in general but a way for IBM to showcase programs that IBM is actually working on. Some of the predictions seem to be out of this world but it's still worth looking at if only to wish that some of the predictions would come true.

Philip Morris has ramped up on Tuesday its legal battle against Australia's planned cigarette plain packaging laws that the giant tobacco company said will rob its of its intellectual property rights.

Elders chief executive Malcolm Jackman said the Federal Government's month-long ban on live cattle exports to Indonesia in June had a ''significant impact'' on the agribusiness. Thus, new markets like Russia, Kazakhstan, Pakistan and Qatar are now being explored.

Samsung phones topped the list of bestsellers in Australia in the September quarter on the back of demand for the Galaxy SII and its stripped-down versions.

Samsung intends to line up its Galaxy product lines for the much-awaited update to the new version of the Android mobile operating system, the Android 4.0, by the first few months of 2012.

Overseas investors hold one third of the new Australian apartment market. That's about 13,000 apartments in 37 projects spread across Australia, said property group CBRE.

The long-awaited Christmas rally finally came true for investors today, who were willing to buy equities following a strong showing on offshore markets in the wake of positive economic data out of both the US and Germany. All sectors on the local share market recorded growth, with the All Ordinaries Index (XAO) firmer by 83pts or 2pct to 4190.

Softer export markets and shifts to use of natural gas will offset the benefits of lower stocks and consolidation for many coal producers in 2012, according to a report by Fitch Ratings.

Australian mining giant BHP Billiton (ASX: BHP) announced on Wednesday that it has agreed to sell its 51 per cent stake in the Chidliak diamond exploration project in Canada to Peregrine Diamonds (TSX: PGD).

In a survey by PricewaterhouseCoopers for its annual Gold Price Report, 80 per cent of mining companies said gold will increase in 2012 and will reach a pinnacle of $2,000 per ounce.

The local share market is seeing a broad based recovery today, thanks to strong leads from US and European markets overnight on positive economic data. The All Ordinaries Index (XAO) is up 81.4pts or 2pct to 4188.5 mid-session.

Fusion Garage has been playing a game of hide-and-seek with its customers. It hasn't fulfilled orders for its Grid10 tablet, the company's Twitter page and website hasn't been updated in weeks and its executives have maintained a radio silence about what's going on with the company. Is Fusion Garage shutting down?

Saudi billionaire Prince Alwaleed bin Talal has reportedly snatched up Twitter shares on Monday amounting to $300 million.

AT&T announced on Monday that it has officially withdrawn plans to acquire T-Mobile USA from Deutsche Telekom, effectively ending the $39 billion merger deal that the two telcos sealed earlier this year.