BUSINESS

Australia's third most important export market, South Korea, continues to grow strongly, as does the chances of another rate rise.

As expected there was no change from the US Federal Reserve after its two day meeting which ended early Thursday morning, Sydney time.

U.S. stocks indexes surged to fresh multi year highs after Federal Reserve Chairman Ben Bernanke said the central bank would continue to reinvest proceeds from maturing securities and added that there was no specific time frame to begin tightening interest rates. The Dow Jones Industrial Average leapt 95.59 points, or 0.76%, to 12690.96, while the Standard & Poor's 500 index gained 0.62% to 1355.66.

The Australian Dollar drifted below the $1.07 mark in quiet holiday trade during Asian hours yesterday.

The statement issued after the conclusion of the two-day FOMC meeting confirmed that the Fed is in no rush to tighten monetary policy.

Leighton Holdings Ltd (ASX: LEI) says its Al Habtoor Leighton Group (HLG) has won two new projects in Abu Dhabi worth over AED600 million.

A major threat to banana plantations reportedly caused by bacteria became the focus of discussions at a scientific conference in the Northern Territory’s capital Darwin on Tuesday.

The higher-than-expected inflation rates in Australia gives the central bank more reason to increase interest rates, analysts said.

Strangely, Standard & Poor's yesterday put Japan on a creditwatch negative because of uncertainty about the amount of spending and borrowing for the reconstruction of the damage caused by the March 11 quake and tsunami and the impact of the Fukushima nuclear crisis.

Stocks powered to fresh multiyear highs, boosted by consumer optimism and strong earnings from industrial heavyweights. The Dow Jones Industrial Average gained 115.49 points, or 0.93%, to finish at 12595.37, a fresh three year high. The Standard & Poor's 500-stock index rose 11.99 points, or 0.90%, to 1347.24, while the Nasdaq Composite added 21.66 points, or 0.77%, to 2847.54.

PlayStation Network users were aghast that their personal information may have been acquired by "external forces".

The World Bank has warned that soaring food prices has pushed 44 million people into extreme poverty since last June.

The March 2011 quarter Consumer Price Index (CPI) for the housing group, increased 1.3 per cent, compared to the all groups increase of 1.6 per cent.

FNArena has added another video to its Investors Education section on the website. In this video Advanced Trading Workshop's Jerry Simmons runs through some potential scenarios for silver, copper, EUR/USD and US equities.

Sony Corp has warned its 75 million PlayStation Network and Qriocity online service customers to check their credit card accounts as some important credit card data such as billing addresses and other personal information may have been stolen by a hacker.

Chinese heavy equipment maker Sany Group has disclosed plans to invest some $200 million in a plant in Indonesia as part of a company move to penetrate the Southeast Asian market and possibly Australia and Japan.

- Hastie Group released belated interim result last week - Updated earnings guidance means significant cuts to broker forecasts - Balance sheet issues leave question marks over survival - RBS Australia downgrades to a SellBy Chris ShawHaving been suspended from trading for eight weeks, building solu...

Savvy consumers are cashing in on deals offered by the burgeoning group-buying and daily-discount market, which has grown by 280 per cent this financial year, new data show.

Proposed new laws on credit cards will help limit the dangers of plastic, but for those already suffering from that dirty four-letter word known as 'debt', here are some tips to clear your balance quickly.

An interest only loan can seem like a great idea at the time – but there are plenty of risks involved in buying a property with a loan that fails to pay off any principal.

The Australian property market slowdown is resulting in a Mexican standoff between buyers and sellers.

The best place to focus your search is in areas where the local property market has all but bottomed out.

The housing shortfall in Sydney is likely to nudge 9,000 properties by the end of the year, according to new figures.

The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.2pct in February - ahead of expectations for a 0.3pct decline. Prices in the 20 cities have fallen 3.3pct over the year and the index is holding just shy of its 2009 low.

In assessing the likely impact of the March quarter consumer price data later today, here's a reminder from the minutes of the April 5 meeting of the Reserve Bank board which left rates unchanged.

Top US and China economic officials will meet in Washington on May 9 and 10 for the next round of bilateral strategic and economic talks.

Australian Prime Minister Julia Gillard is walking on tight rope as she pursue both trade and diplomacy issues in China as she meets her counterparts Prime Minister Wen Jiabiao and President Hu Jintao today.

Beleagured Japanese firm Tokyo Electric Power Co (TEPCO) has announced that it will impose salary cuts of as much as 50 percent on top executives and about 20 percent on staff as it copes with the growing financial woes from its Fukushima Daiichi power plant.

Governments in the Asia-Pacific Region have admitted ballooning problems encountered among its tech savvy citizens.