BUSINESS

As we once again approach a monthly Reserve Bank board meeting, the Australian economy is not providing any guidance for the central bank, or individuals.

Shares in Cash Converters, the Australian pawnshop and short term lending business, fell 3% yesterday after a deal by its largest shareholder to take control collapsed.

Google and Facebook have urged people to sign up using only their real names while those who use aliases are banned. Although internet analysts see only commercial goals, such as users-advertisers matching, as a reason behind this move, dissuading the use of aliases might prove some good points to consider.

An online survey released Monday found that 46 percent of Australians favor the government planned 30 per cent minerals resource rent tax (MMRT). The survey by Essential Research said 34 per cent are against the MMRT, reported the Herald Sun.

By Greg PeelThe week before last saw industry consultant TradeTech's spot price indicator for uranium fall to US$48.

The Australian dollar suffered at early morning trade treading the range of 105.52 to 105.60 cents path against the U.S. dollar but is expected to trade higher by mid-day in anticipation of the RBA meeting to deliberate on the cash rate on Tuesday afternoon.

Auto dealership Rick Damelian Group has been put on receivership after raking in $80 million worth of debts.

By Greg PeelThe German coalition government lost another regional election over the weekend in Angela Merkel's home province of Mecklenburg-Vorpommern.

US financial markets were closed on Monday for the Labor Day holiday. On Friday the Dow Jones fell by 253pts or 2.2pct with the S&P 500 down by 2.5pct and the Nasdaq lost 65.7pts or 2.6pct. Over the week the Dow fell by 0.4pct and the S&P 500 lost 0.2pct while the Nasdaq was largely flat.

Australia's retail sector continues to suffer from the economic downturn, with high-end clothing store Satch as the latest victim. Satch Clothing was placed under administration on Thursday.

Samsung was forced to pull out the Galaxy Tab 7.7 from the world's largest consumer electronics show after a court in Germany promptly granted Apple's request for an injunction. This was the same court that gave a ban of the sale and promotion of the Galaxy Tab 10.1 in 26 of the 27 European Union member countries, although the ruling was scaled back only to Germany on jurisdictional issues.

Toyota was Australia's best selling brand in August as the industry's vehicle sales went up 7.3% month-on-month. On a year-to-date basis however, auto sales in Australia is still down 4.4 %

Navantia, the Spanish shipbuilder undertaking the construction of Australia’s new Air-Warfare Destroyers (AWD) and two amphibious ships (LHD), says it will establish a wholly-owned Australian entity under the corporate name, Navantia Australia Pty. Ltd.

Navantia, the Spanish shipbuilder undertaking the construction of Australia’s new Air-Warfare Destroyers (AWD) and two amphibious ships (LHD), says it will establish a wholly-owned Australian entity under the corporate name, Navantia Australia Pty. Ltd.

Business confidence has taken a beating in Western Australia, with many small businesses concerned that people are not spending.

Mortgage exit fees have drawn a lot of discussion recently, with the Federal Government announcing its plan to legislate against them (one of a range of proposed banking reforms) and the NAB offering to reimburse the exit fees of borrowers who switch to it.

The decision of Telstra bosses to give themselves huge pay rises is an insult to staff battling uncertainty and pay rises that don’t keep up with inflation, the Communication Workers Union said today.

Westpac's subsidiary brands, St. George, BankSA and Bank of Melbourne have cut two-year fixed rates on their package products by 15bps to 6.44 per cent, and reduced their three-year rate 5bps to 6.54 per cent.

Australia's Retailers Association's executive director Russell Zimmerman, has appealed for the abolition of paying employees time-and-a-half on Saturdays and double-time on Sundays, to maintain the industry's competitiveness amidst the backdrop of a low consumer spending environment in the country.

Ratings agency Standard & Poor's retained on Monday the AA+ credit rating of Queensland. The basis of keeping the stable rating was the state's healthy and diversified economy and very good financial management.

For the year 2010/11, Australia's mining industry is expected to pay the federal and state governments a total of $23.4 billion in taxes and royalties.

Smaller online stores in Australia are complaining of bullying tactics adopted by retailers, according to online giant eBay which submitted an inquiry with the Productivity Commission (PC).

In spite the persisting low consumer demand, Australian companies have recorded a 6.7 percent growth on their gross profits, according to the seasonally adjusted data from the Australian Bureau of Statistics.

Alastair Macdonald, TCC regional director, Australasia, said the company has secured the global license for loyalty promotions in the grocery, convenience and petrol retail category for the Angry Birds game franchise. This means Angry Birds, Angry Birds Seasons and Angry Birds Rio may be used in the said establishments' loyalty promos to attract shoppers of any age, gender and profession.

The United States Postal Service faces insolvency due to continuing losses due to the shift to the digital age. Is there a way to save this U.S. institution?

James Murdoch declined a bonus amounting to almost $US6 million ($5.63 million) because of the phone hacking scandal at the defunct UK newspaper News of the World. He was supposed to get a payout of $US17.9 million, inclusive of the $US6 million bonus and $US8.3 million in stock awards. James' bonus was set to increase his compensation package by 74 per cent. Without the bonus, his remuneration will rise 16 per cent to $US11.9 million.

- Paladin result falls short of expectations- Net debt increasing, cash on hand also fell- Corporate appeal a positive- Opinions on Paladin remain dividedBy Chris ShawUranium producer Paladin has disappointed the market with full year earnings, reporting a larger than expected loss for FY11 of US$82...

QR National has signed an agreement with eight coal companies for the construction of the $900 million Wiggins Island Rail Project to a new export terminal at Gladstone, South Australia

Australia's employers have opted to advertise online rather than on newspapers, according to the latest survey conducted by ANZ Bank, which showed a a monthly and annual decline indicative of a persistent sluggish economic growth.