BUSINESS

Leighton Holdings Ltd (ASX: LEI) today bolstered its contribution to the Queensland Premier’s Disaster Relief Appeal to $2 million, to further assist flood victims in central and south east Queensland.

Retailer and coal miner Wesfarmers Ltd (ASX: WES) expects flooding in Queensland state to significantly reduce output at its Curragh coal mine until the March quarter, the company said on Wednesday.

The devastating Queensland floods have left many residential and commercial properties inundated as residents come to grip with the effects of the flood and try to return back to their homes and businesses.

Woolworths Ltd (ASX:WOW) and supplier Cenvil Ltd are recalling packets of Homebrand frozen lemon flavoured crumbed fish in New South Wales, Australian Capital Territory and Queensland following a potential product safety issue.

The Westpac-Melbourne Institute Consumer Sentiment Index fell 5.7% m/m in January to 104.6, following a slight increase of 0.2% in December.

Construction giant Leighton Holdings Ltd (ASX: LEI) says its subsidiary Thiess Pty Ltd has been awarded a six-year $1.3 billion contract to extend mining operations at Peabody Energy Australia’s Burton Coal Mine in Queensland’s resource rich Bowen Basin.

Property sales volumes dropped during the September 2010 quarter by 57 percent compared to the same period in 2009 based on the report released by the Housing Industry Association.

Small businesses are urging the government to exempt them from the $500 fee for complying with the government’s the anti-money laundering service AUSTRAC beginning July 1.

The Australian Dollar is trading higher thismorning on the back of better than expected Europeanstocks and a slightly weaker US currency.

Materials and industrial stocks gained following a rise in New York manufacturing activity, but shares of banks weakened after disappointing earnings from Citigroup.

The US Empire State manufacturing index for the New York region rose from +9.89 to +11.92 in January.

A sell off of the Aussie Dollar during Asian trade yesterday saw the currency pair dip briefly below 99 cents, however support held strong and offshore trade began back up around 0.9940.

Global miner Rio Tinto (ASX: RIO) has set a new quarterly production record at 65 million tonnes and a new annual record at 239 million tonnes.

The Australian sharemarket is relatively flat at lunch today after not receiving a lead from U.S markets overnight due to the Martin Luther King public holiday.

The Australian sharemarket wiped out yesterday´s pullback with the All Ordinaries index (XAO) gaining 0.8pct or 39pts to 4911.60.

National Australia Bank (ASX: NAB) has pledged $150,000 to the Red Cross Victorian Floods Appeal to assist Victorians affected by the floods.

Equinox Minerals Ltd (ASX:EQN) says it has successfully completed its $1.25 billion friendly takeover of Citadel Resource Group Ltd (ASX:CGG), which owns a copper mine in Saudi Arabia.

New Hope Corporation Ltd (ASX:NHC) says its Queensland coal mines are back in operation, though the state's floods have inflicted significant damage to a major rail link.

Interest rates are expected to rise sooner as Queensland rebuilds damage incurred during the devastating floodwater says economists.

Fortescue Metals (ASX: FMG), Australia's third-biggest iron ore miner, says ore shipments jumped 9 percent in the December quarter from a year earlier as it continues with its expansion plans in Australia.

Woolworths (ASX: WOW) has reached a current total donation of $10 million for the Salvation Army flood appeal, with three shopping days still to go.

Despite a somber start of the year, there is still a lot to look forward to for savvy property investors.

Construction giant Leighton (ASX: LEI) says its subsidiary Thiess Pty Ltd has been awarded a major coal seam gas upstream infrastructure contract in Queensland.

Real estate prices in Brisbane are forecast to plunge and rental rates to rise as market demand for accommodation jumps during the wake of the disaster.

The largest real estate auction in the country offering 152 properties and 12 luxury boats on sale will begin from January 28 to 30.

A lack of influential data released and the US markets closed for Martin Luther King Day meant that the AUD was mainly influenced by Europe during last night's offshore session.

European stocks ended relatively flat Monday as shares held tight ranges as finance ministers prepared for a meeting to discuss the sovereign-debt crisis.

The German finance minister Wolfgang Schaeuble has said that there is no immediate need to increase the size of the euro-zone rescue fund.

Australia’s inflation remains above the central bank’s target 3% for the 4th consecutive month. Prices increased 0.2% from the previous month according to the Melbourne Institute.