BUSINESS

- Aston continues to develop Maules Creek project- Recent share price gains see UBS downgrade on valuation grounds- Macquarie retains Outperform, see Aston as a ripe takeover targetBy Chris ShawAston Resources ((AZT)) is developing the Maules Creek coal project in the Gunnedah Basin in New South Wal...

A stock-market rally evaporated late in Thursday's session as investors fixated on Washington's debt-ceiling impasse, overshadowing better-than-expected jobs data. The Dow Jones Industrial Average finished 62.44 points lower, or 0.51%, at 12240.11, the blue-chip measure's fifth straight loss. The Standard & Poor's 500-stock index shed 4.22 points, or 0.32%, to 1300.67, led lower by telecommunications stocks. The Nasdaq Composite eked out a 1.46 gain, or 0.05%, to 2766.25.

AFTERNOON REPORT (4.30pm AEST)Ongoing concerns about the US debt crisis saw markets around the Asian region heavily sold off again today. Investors remain concerned that even if US lawmakers come to an agreement over the raising of the debt ceiling, the US could still have its AAA credit rating downgraded. Japan's Nikkei index eased by 1.6pct today while the All Ordinaries Index (XAO) fell 73.4pts or 1.6pct to 4539.2 while the S&P/ASX 200 Index (XJO) eased by 73.6pts or 1.6pct to 4463.8....

Origin Energy Limited (ASX: ORG) and American partner ConocoPhillips has announced the approval of the $20 billion funding required in its liquefied gas project in Australia that targets to supply the Asian Region.

The latest report by Telstra, Mobile Innovation – The Next Frontier for Growth and Productivity for Insurers, launched in conjunction with the Financial Services Council, has identified new opportunities for the insurance industry to better use mobile phone technology in delivering services.

MIDDAY REPORT (12.15pm AEST)Local stocks are under heavy selling pressure in early trade, following another slump in US equities overnight and falls on the commodities markets. Wall Street recorded its biggest one day fall in nearly two months as the stalemate over raising the US debt ceiling continues. At lunchtime in the East, the All Ordinaries Index (XAO) is down 50.6pts or 1.1pct to 4562.

Tiger Airways will not be flying anytime soon, belying previous reports that the Singapore budget carrier will resume its Australian operations next week.

Investment bank Macquarie Group is sticking to its earnings forecasts despite the negative impact of subdued financial market activity.

Today at 4pm Rudi and Greg will discuss, debate and argue about the local an international financial markets and how they are impacting on your investments.

World-leading solar researchers and industry members in Australia are collaborating to develop new ways of generating zero-emissions electricity using a printing machine to produce solar cells.

FNArena has added another video to its Investors Education section on the website by ATW founder and trader Jerry Simmons.

Australian retail-to-coal conglomerate Wesfarmers today posted $11.7 billion sales across its retail chains, a 5.8 percent increase in the fourth quarter from a year earlier.

Owners and managers in Australia are warned of cyber security risks and are advised to take the necessary measure to protect their businesses from hacking.

Aussie Home Loans has called on the Reserve Bank to show restraint next Tuesday, August 2, when the RBA board meets again to decide on the course of interest rates.

By Greg PeelThe Dow fell 198 points or 1.6% while the S&P lost 2.0% to 1304 and the Nasdaq plummeted 2.

The Great Australian Dream could remain just a dream with house prices moving from being affordable to severely unaffordable in the last 10 years.

Markets in Asia, Europe and the US were sold down for a second day in the past three on these fears.

Despite yesterday's higher than expected inflation figures, does anyone seriously expect the Reserve Bank to lift interest rates next Tuesday? Certainly all that silly talk about a rate cut has been exposed for what it was: nonsense, even though Westpac was sticking to its call yesterday.

Rio Tinto's NSW-based majority owned subsidiary, Coal and Allied, has revealed the benefit of not being a Queensland-based coal miner and exporter in the six months to June 30.

Throughout the history of agriculture across the globe, farming has always been a diversified sector of the economy. Small, self-sustaining, family farms were the order of the day in most cultures.

An armed man approaches an innocent old lady on the street, shoves his gun in her face and screams, "Give me everything you own!" The little old lady, flummoxed but determined, angrily answers back, "Screw you! I'm not giving you one red cent!"

By Greg PeelQuick! Everyone running screaming back to the other side of the listing boat again!The thing about central bank interest rate moves is that they're always difficult to get right in terms of timing, but rarely are they difficult to get right in terms of direction.

US stocks fell sharply on Wednesday, in the third consecutive day of losses, as investors feared the country's debt-ceiling standoff could force a default or downgrade of US Treasury debt.

More than 300 jobs are expected to be lost under plans by Telstra to relocate some services to India as well as other offshore locations.

With the resources sector poaching limited labour from other states with the promise of huge wages, business heavyweights are warning that the rest of the Australian economy is not prepared and cannot compete.

Companies often claim that people are their best asset. For that to be true, it is important to invest in employees through training and other learning opportunities.

US durable goods orders fell 2.1pct in June after a 1.9pct increase in the prior month. Excluding transportation orders rose by a modest 0.1pct. A proxy for business spending - Non-defence capital goods orders excluding aircraft - slipped 0.4pct after a 1.7pct rise in May.

Anticipation in the consumer electronics world is soaring for the launch of Apple's iPhone 5, which is rumored to be hitting store shelves this fall. About 35 percent of consumers plan to purchase the latest iPhone upon its release, according to a survey by PriceGrabber, a part of online shopping site Experian.

Mozilla announced on July 25 that it is planning to launch its own mobile operating system. Tentatively called "Boot to Gecko" or B2G, the OS is based from Mozilla's open-source "Gecko" layout engine that is already in use with other Mozilla apps like Firefox.