BUSINESS

Steelmaker and iron ore exporter, OneSteel has downgraded full-year earnings guidance by 14%, a move that justifies the long slump in the share price this year.

The CBI expressed "cautious optimism" for "slow but significant growth this year and next". It is predicting 1.7 per cent growth this year and 2.2 per cent the next, in line with its last forecast in February and a little weaker than the government and the Bank of England expect.

Ramplin Capital, acting as independent director to the SEB Prime Solutions UCITS platform, would like to announce that Vertex Capital Management Ltd, the London-based investment advisory firm, has launched a new UCITS fund via SEB Prime Solutions.

Hedge funds were up 1.73% in April making it ten consecutive months of positive returns for the industry. Managers handled the mid-month volatility skillfully to post strong returns for the month. Trend-following strategies were the most successful as the markets' movements were positive at the start of the month and ended with a sharp upturn. The MSCI AC World Index was up 1.84%1 during the month.

By Greg PeelThe Dow rose 75 points or 0.6% while the S&P gained 0.8% to 1357 and the Nasdaq added 1%.Australia's trade balance rebounded sharply in March driven by a 40% recovery in coal exports above a flooded February result.

U.S. stocks advanced Tuesday, as investors drew encouragement from Microsoft Corp.'s $8.5 billion deal for Skype Technologies and from signs of strength in the U.S. economy and overseas. The Dow Jones Industrial Average climbed 75.68 points, or 0.6%, to close at 12760.36, led by Walt Disney Co., which rose 1.9%, and Hewlett-Packard Co., which gained 1.3%.

In April, the total value of imports and exports increased 25.9% year on year to $US299.95 billion.

Job advertisements on the internet and in newspapers have increased by 20.5% compared to this time last year, according to ANZ's latest survey.

J.P. Morgan reported that commodity prices tumbled last week, with the S&P's GSCI All-metals Spot Index dropping 11.2%.

International credit rating agency Standard & Poor's Ratings Services said May 9 that is has lowered its long-term issuer credit rating on New Zealand finance company NZF Money Ltd. (NZF) to 'CCC-' from 'CCC'.

Amidst a recession, housing starts in Japan dipped below 1 million units in 2009 and 2010, the first time in four decades. Following an earthquake in March that killed thousands and destroyed more homes, Sekisui House Ltd. (1928), Japan's second-largest home builder, expects the biggest housing boom in 15 years, according to Bloomberg News.

Visit the new section of the Android Market at market.android.com/movies

It was a quiet session to start the week yesterday however ongoing speculation of upcoming interest rate rises and a 1% increase in job advertisements last month meant the Aussie Dollar steadily gained ground throughout the Asian session.

Among the major banks, National Australia Bank fell 20 cents to $27.64, ANZ lost 32 cents at $23.07, Westpac dipped 46 cents to $23.60 and Commonwealth Bank eased 45 cents to $52.20.

US import prices rose by 2.2pct in April, driven by a 7.2pct lift in petroleum prices. Export prices rose by 1.1pct. Economists had tipped a 1.8pct rise in import prices and 0.9pct lift in export prices.

The Insurance Council of Australia has released updated figures on how the general industry has responded to the enormous task of assessing over 118,000 insurance claims received as a result of the Queensland floods and Cyclone Yasi.

Recently introduced budget auto, the Chery J1, China’s first passenger car in the Australian market has been rated just three stars out of a possible five by the Australasian New Car Assessment Program (ANCAP).

The AUD has rallied overnight to be currently trading around USD1.0800 after a rebound in commodity prices lifted our local currency.

Whether it was simply mis-communication or over-eagerness on the part of the translator, the report last week that the Chinese government intended to invest in Spanish banks caused a small rift in Sino-European relations.

It was a quiet session to start the week yesterday however ongoing speculation of upcoming interest rate rises and a 1% increase in job advertisements last month meant the Aussie Dollar steadily gained ground throughout the Asian session.

Cisco Systems Inc. (CSCO) will hold a conference call for Wednesday, May 11, 2011 at 1:30 PM (PT), to discuss its third quarter fiscal year 2011 results, amid a management shake-up that began last month. Financial results will be released after the close of the market on Wednesday.

Gamers world-wide are in for another visual treat and experience as they can be the ones to lead the assault into the simulation videogame battleground set in the background of the late Al-Qaeda leader Osama Bin Laden's abode in Pakistan.

Canada-based gold explorer Golden Peaks Resources Ltd. has added a new project in its “strategic shift in focus to Indonesia” with the completion of its acquisition of Reliance Resources Ltd., the company said on Monday.

Singapore Telecommunications Ltd. (SingTel) has announced that its chairman, Chumpol NaLamlieng, is stepping down in July

- Ampella shares hit by concerns of unrest in Burkina Faso- Concerns overplayed in view of DJ Carmichael- Buy rating reiterated following recent share price weaknessBy Chris ShawAmpella Mining ((AMX)) is developing the Konkera gold project in Burkina Faso, a project stockbroker DJ Carmichael current...

China is both the world’s biggest producer of coal and the world’s largest coal consumer.

By Greg PeelThe Dow closed up 45 points or 0.4% while the S&P gained 0.5% to 1346 and the Nasdaq added 0.

Complaints from angry customers have forced retailer General Pants to censor its ‘sex’ campaign for fashion label Ksubi, which features teenage staff wearing ‘I love sex’ badges.

CME Group Inc. (Nasdaq: CME) today announced that its board of directors has authorized a return of capital to shareholders through a share buyback program of up to $750 million of CME Group Class A common stock, subject to market conditions. The buyback program will take place over a period of up to 12 months.