BUSINESS

In today's Daily Reckoning we'll look at what the slowdown in Chinese steel production could mean for the Aussie gold price. We'll also show you why at least one Chinese policy maker thinks gold is more valuable than oil.

Hopes the European Central Bank will provide more economic stimulus saw local stocks rise today, with the ASX200 breaking through the 4400 point mark briefly, for the first time since May. By close, the ASX 200 (XJO) was up 19.1pts or 0.4pct to 4383.4 while the All Ordinaries Index index (XJO) firmed by 18.9pts or 0.4pct to 4410.8.

Telstra Corporation has listed 651 jobs on its axing sight, which the giant telco said on Tuesday was part of underway efforts to streamline its customer service operations across the nation.

Eight months into year 2012, Apple continues to flex its shares market muscle as the tech giant gained 64 per cent in the year so far and closed its Monday exchanges at $US665.15, en route to an overall market value of $US623.5 billion.

The once-booming resource sector in Australia is slowing down due to lower commodity prices.

After another low trading and low news day the European and US, markets closed slightly weaker. Investors were still concerned about key economic news and announcements later in the week. As European investors wait on the outcome of the Euro leaders meetings in Greece and the US investors await on key housing data and Chinese economic news. Yesterday Chinese market hit a new 52 week low and the Aussie market lost nearly 2points to 4,391 points.

The Australian Automotive Aftermarket Association (AAAA) warned on Tuesday of the loss of 30,000 jobs in the car parts industry and an $800 million export market unless the government extends it assistance.

Zac Efron has recently been reported shopping for a luxury home address. Is this a sign of growing up, or is he getting ready to settle down?

Never a company to rest on its laurels, IKEA plans to open 100 'budget design' hotels across Europe. The bad news? Guests probably won't be able to order a platter of Swedish meatballs from room service at 2 a.m.

Amid global uproar on excessive executive pay, two chief executive officers from Australia would have made a good case study on the matter.

Australian flag carrier Qantas grounded two pilots who argued inside the cockpit of a Boeing 747 at the Dallas-Forth Worth International Airport. Their debate was over take-off calculations which they should enter into the plane's computer.

By Andrew NelsonLast week was slightly busier than what passes for normal these days on the uranium spot market.

By Greg PeelThe Dow closed down 3 points to 13,271 while the S&P was flat at 1418 and the Nasdaq was flat.

Investors took somewhat of a breather today, as China's Shanghai Composite fell to its lowest level since 2009 on worries there may not be any forthcoming stimulus from the Central Bank of China. The mood was in stark contrast to global markets on Friday, where US and European markets gained albeit in thin trading volumes. European markets rose to 13-week highs as Germany gave its backing to the European Central Bank's efforts to support the Eurozone while the S&P 500 Index on Wall Street ...

Still in doubt that iPad Mini will be launched shortly after the anticipated issue of iPhone 5 later this year? Well investors do not have the same mindset and their firm conviction that Apple will unleash killer gadgets before 2012 ends further pushed up the tech giant’s share price.

Following a weak start to the session, the Australian sharemarket is a few points higher, with the All Ordinaries Index (XAO) up 0.1 pct or 5.7 pts to 4399.5. A number of companies have gone ex-dividend today, which is putting downward pressure on the broader market.

Australian banks lost on Friday the country's longest-running court case after appeal judges in the West Australian Supreme Court upheld a ruling that ordered the lenders to pay creditors of the collapsed Bell Group almost $3 billion.

Consumer groups are pushing for larger prints on unit prices of grocery items for shoppers to benefit the most from comparative unit prices that supermarkets post based on a common weight, volume or number.

By Greg PeelCentral banks across the globe are implementing and/or are expected to implement or increase monetary policy stimulus over coming months in order to reduce sovereign risk and prop up a flagging global economy.

BHP Billiton (ASX: BHP) inked a native land agreement in the Pilbara with the Nyiyaparli people. The signing would lead to expansion of the mining giant's iron ore operations and boost its output to 350 million tonnes by 2020 from the current 120 million tonnes.

To help reverse its sagging financial standing, flag carrier Qantas will feature supermodel Miranda Kerr in a national advertising campaign for the airline.

The state of California has seen upgrades in the technology of roads to provide auto insurers with the ability to monitor the driving behavior of their clients and offer reduced premiums to them. However, the move has not been received well by advocates of privacy who have dismissed it as an unnecessary amount of intrusion leading to serious results.

There's something about the quality of a great leader that makes him or her stand out no matter the situation or the crowd. History's greatest leaders have all had that quality, though they may not have all started out as leaders of many or even very few people.

Facebook shares dropped by 6.27 percent. Facebook stock hit record low as the first lock-up period ended. Shareholders, who invested in the well-known social media company, cashed out some of their stake. Facebook shares are down almost 50 percent from its debut.

There's been some positive momentum gaining across global markets over the past 24 hours after German Chancellor Angela Merkel voiced support for the European Central Bank's efforts to prop up the Eurozone. US share markets rose to four month highs overnight, while European markets also rallied. Here positive earnings reports helped boost sentiment with the All Ordinaries Index adding to yesterday's gains, up 1pct. Over the week, the market gained 2pct.

The new Windows RT club will be mostly composed of Dell, Samsung and Lenovo, as confirmed this week by Microsoft, indicating that key PC players will roll out ARM-powered slates during the scheduled Oct 26 launch of the revamped Windows operating system.

No official confirmation from Apple is out yet, though it is widely rumoured that the next iPhone iteration will be out as early as Sept 21, at least in the North American market, sparking a frenetic race for current iPhone owners to dump their old units for some cash.

The Catholic Church is again in another controversy. This time the ownership of a billion-dollar German media company that has been reported to be selling some pornographic materials, which is against its philosophy and teachings.

Local stocks are continuing to add to yesterday's gains, thanks to strong earnings results and positive offshore leads. European and US share markets moved higher overnight on hopes of further stimulus measures after German Chancellor Angela Merkel voiced support for the European Central Bank's efforts to support the Eurozone. Mid-session, the All Ordinaries Index (XAO) is up 28.2pts or 0.6pct to 4381.7.