BUSINESS

The US trade deficit narrowed from US$44.6bn to US$38.7bn in October and was below expectations for a US$44.5bn shortfall.

Little movement was felt during Asia as the Aussie remain bound between 0.9830-0.9860 against the US Dollar as traders prepared for China’s release of economic data over the weekend.

U.S. blue chip stocks posted their biggest gains of the week Friday, closing out a quiet week buoyed modestly by brighter economic data.

The National Broadband Network decision to pay for the cost of installing fiber infrastructure into communities and new homes is a boon for home buyers as it avoids passing on any additional costs to consumers for broadband installation.

The local share market closed flat today, as losses from the miners offset gains made in financial stocks.

The Australian share market has coasted to a flat close as investors sat on the sidelines ahead of key economic data due out of China.

The local share market closed flat today, as losses from the miners offset gains made in financial stocks.

Sandfire Resources (ASX:SFR) says the mining lease for its wholly-owned DeGrussa Copper-Gold Project has been formally granted by the West Australian Department of Mines and Petroleum (DMP), paving the way for development and mining to commence next year.

New South Wales properties worth more than US$11 million were sold in an auction garnering strong interest from investors.

Investors are focusing on retail assets as an estimated US$390 million worth of shopping centers have been sold this year despite lukewarm forecasts on the sector.

Analysts predict that real estate prices in southeast Queensland will grow little in the coming year as home buyer confidence wanes.

Some 10 million Australians spend much of their online surfing accessing their Facebook accounts, with most using their mobile handsets as the preferred tool for posting updates and sharing contents on the popular social networking site.

Property developer Mirvac Group (ASX: MGR) has acquired Harold Park Paceway, Sydney, to be developed into a 1,200 lot masterplanned community, representing total forecast revenue of over $1 billion.

Construction materials specialist James Hardie Industries SE (ASX: JHX) announced today its chief executive, Mr Louis Gries, sold 148,000 James Hardie shares on 9 December 2010.

Local stocks are tracking sideways in early trade following a flat offshore lead.

Buyers wanting to take advantage of the opportunities offered by the New National Rental Affordability Scheme (NRAS) investment properties can now look at units available in Western Australia specifically, Gosnells, a suburb in southwest Perth.

Sir Ron Brierley is stepping down after a 20-year reign as chairman of investment firm Guinness Peat Group plc (GPG) at the close of business today.

Qantas Airways Ltd sought the protection of the Australian Federal Court for fear that Rolls Royce could win the favour of a British court and prevent the national carrier from seeking compensation on losses it incurred at the height of the Airbus A380 engine troubles in November.

The government has confirmed that NBN Co. will be responsible for connecting new homes to the national broadband network to developments with more than 100 premises and not property developers.

Origin Energy (ASX: ORG) said potentially toxic chemicals discovered in coal seam wells pose no major health risk after tests of water from its Australia Pacific LNG coal seam gas fields.

The Australian Dollar has opened firmer this morning, to be trading just under the USD0.9850 level, after receiving a boost from yesterday’s jobs data.

U.S. blue chip stocks slipped Thursday as mixed corporate news overshadowed an encouraging weekly jobs report.

New US claims for unemployment insurance (jobless claims) fell by 17,000 last week to 421,000.

The Aussie rallied quite sharply on Thursday hitting an intraday high of 0.9880 on the back of stronger-than-expected jobs data.

Former Astarra Director Shawn Richard faces jail term as he pleaded guilty to two charges of dishonest conduct in his financial services business.

Oil and gas explorer Beach Energy Ltd (ASX: BPT) Beach said today it has increased its relevant interest in Impress Energy Ltd (ASX: ITC) to above 45 percent, as a result of continued strong on-market acceptances by Impress shareholders.

U.S. stocks flitted in and out of negative territory as surging financial stocks outweighed declines in the materials sector.

Local stocks rallied to one month highs today as stronger than expected jobs data boosted investor sentiment.

The Brisbane City Council went ahead and approved a 12-storey building despite state orders to cut down building density in its West End area.