BUSINESS

The recent woes of the Aussie were compounded by local employment data yesterday and after falling almost 2 cents in the 12 hours prior to the release another cent was given up almost immediately.

MARKET CLOSE (4.30pm AEST)The energy and mining sectors were the best performers yesterday, but it was a very different story today, with both sectors holding the market back. The ASX 200 index (XJO) fell 1.8 pct or 84.1 pts to 4696.1 while the broader All Ordinaries index (XAO) slumped by 1.7 pct or 81.6 pts to 4776.6.The S&P/ASX 200 Materials index fell 2.57 pct or 355.2 pts to 13482.1, off the back of weaker commodity prices overnight in U.S trade. Australia’s largest miner, BHP B...

The energy sector pulled U.S. stocks lower Wednesday, with the Standard & Poor's 500 index posting its biggest one day drop in two months, as crude oil prices tumbled. The Dow Jones Industrial Average shed 130.33 points, or 1.02%, to 12630.03.

The 21-year antitrust battle Microsoft Corp. (MSFT) has been fighting with the U.S. government ends today, May 12.

The NSW Government made the right decision in scrapping the ad valorem tax on property, according to the Property Council of Australia.

Australian media company Fairfax Media Ltd. (FXJ) will cut about 82 editorial production jobs from its two main Sydney and Melbourne newspapers as part of a drive aimed at saving A$15 million (US$16 million) a year.

Groupon, the group buying site that features a daily deal on the best stuff to do, eat, see and buy in more than 500 markets around the world today announced its launch of the Groupon New Zealand, which began offering deals on May 10, 2011.

Michael Andrew, 54, chairman of KPMG Asia Pacific and also of KPMG Australia, has been elected Chairman of KPMG International.

BlueScope Steel Ltd. (BSL), Australia's largest steelmaker, announced today that it will report a full-year loss as the strengthening Australian dollar cuts the price of competing imports and the value of offshore earnings.

A stronger Australian dollar has been impacting on earnings for Westfield Group but a quarterly trading update yesterday suggests this is being countered by lower debt costs.

Two out of three Australian small businesses think that ‘business is good’, with some considering the strong Australian dollar an integral business tool, according to a new small business survey released today by Westpac.

American pop star Lady Gaga has invaded the virtual farms of Farmville and has her own GagaVille to promote her singles included in her album "Born This Way," online games producer Zynga has announced.

While the recently announced 20 per cent discount on stamp duty for first home buyers does not come into effect until 1 July this year, it may apply to homes purchased now according to the Real Estate Institute of Victoria.

A New Zealand court has ordered Australian airlines Qantas to pay fines worth NZ$6.5 million for fault of price fixing, records showed.

Australian national carrier Qantas Airways (ASX: QAN) has been forced to cancel 31 flights affecting around 2500 passengers and delay another 46 flights during tomorrow's morning-peak, as a result of union-led industrial action from licensed engineers.

Industry leader BlueScope Steel Ltd. says it expects to report a net loss for the financial year ending June 30.

Qantas pilots belonging to the Australian and International Pilots Association (AIPA) announced on Thursday plans to stage a strike after enterprise bargaining negotiations with management bogged down.

- Westfield update shows lower costs offsetting stronger $A- Lift in development starts sees changes to earnings estimates- Two upgrades, Buys now dominate Westfield Group ratingsBy Chris ShawA stronger Australian dollar has been impacting on earnings for Westfield Group ((WDC)) but a quarterly trad...

Australia’s unemployment rate stayed at 4.9 per cent in April, official figures from the Australian Bureau of Statistics (ABS) show today.

As Australia returns to economic growth, and consumer confidence rebounds, increased competition for skilled workers has forced many organisations to rethink their talent strategies for 2011.

Hedge funds returned an average of 2.05% in April 2011 and the rate of net investor inflows was again above the 2010 average.

Blue Rice Investment Management (BRIM) is pleased to announce its strategic partnership with NewAlpha Asset Management, the Paris-based global hedge fund incubation specialist with an investment into the BRIM Asian Credit Fund as of 1st May 2011.

The Lyxor Global Hedge Fund index, an investable index based on Lyxor's hedge fund platform which tracks the overall hedge fund universe, was up +1.4% in April, lifting year to date gains to 2.1%.

Commonwealth Bank has reported third quarter cash earnings of $1.7bn amid a slight rise in mortgage arrears.

By Tony D’Altorio, Investment U Research Tuesday, May 10, 2011Coffee drinkers are finding it more and more expensive to get their caffeine fix.

By Greg PeelThe Dow closed down 130 points or 1.0% while the S&P lost 1.1% to 1342 and the Nasdaq fell 0.

By Greg PeelThe owner of a vast sheep station west of the Darling River in outback New South Wales would not permit prospecting on his land despite rumours of gold discoveries in other parts of the Barrier Ranges and the first strikes of silver being reported not far away.

Westfield had been tipped by some analysts to cut guidance because of the impact of the higher Australian dollar on offshore earnings, but the mall owner confirmed its forecasts for annual earnings, distributions and operating income in a statement to the ASX.

David Jones and Myer, Australia's two biggest department store chains, reported lower sales in their latest market updates, indicating shoppers remain reluctant to spend.