BUSINESS

Shoppers be warned as ‘fresh produce’ sitting on Australian supermarkets shelves could have been there for almost a year, with the consumer advocacy group Choice calling on consumers to be vigilant on their shopping trips.

Reserve Bank of Australia (RBA) governor Glenn Stevens confirmed that the Australian economy is facing the prospect of dealing with a rising national income, thanks to the resurging resources boom, yet he warned that the surplus run must be utilised to further shore up the savings account of the federal government.

Budget carrier Jetstar has decided to reduce the frequency of its service flights between Darwin and Singapore and business leaders in the Northern Territory appears less than amused with the surprise move made by the airline.

House prices remain concerning even with a bounceback in dwelling approvals in October. Government action is needed to remove supply-side impediments that will otherwise have dire consequences for housing affordability, according to Australia's peak body for the building and construction industry.

Mixed economic indicators in the September quarter appear to deliver contrasting impacts on the upcoming gross domestic product (GDP) report this mid-week as rising government expenditures are expected to add up on the GDP figures while retreating export volumes are anticipated to detract some percentage points from the national account.

Australia' total number of dwellings approved jumped 9.3 per cent in October 2010, after falling for six consecutive months in seasonally adjusted terms, Building Approvals data from the Australian Bureau of Statistics showed today.

One of Melbourne’s prime retail spaces located in the central business district will be up for public auction on December 15, 2010.

Local stocks have followed global markets into the red today, on worries Europe's debt crisis could worsen.

National current account deficit rose $2,417m to $7,830m in the September quarter 2010, new data from the Australian Bureau of Statistics (ABS) show.

Prime Adelaide retail area, Rundle Mall, has seen rent for their top spaces increase by 26 percent compared to September 2007 figures.

Short-term forecasts for Sydney's north shore predict that vacancy figures will slowly decline because of increasing demand coupled with low supply according to a report made by commercial real estate services firm CB Richard Ellis in its Sydney Metropolitan Office MarketView.

Woodside Petroleum Ltd admitted a rise on the cost of its Pluto Foundation LNG Project and a bit delay on the commencement of the facility’s production activity.

New Zealand should now be able to resume apple exports for the first time since 1921 to its biggest trading partner after the World Trade Organization top court ruled on Monday that Australia's 89-year-old ban on imports of Kiwi apples are unscientific and break international trade rules.

Six days after a system glitch that delayed millions of transactions, National Australia Bank (ASX: NAB) said on Tuesday it has corrected all affected accounts.

With a lack of price sensitive information released during the offshore session last night, the AUD has weakened as lingering fears of debt contagion in Europe saw risk aversion trading come into play and investors reduce their holdings in the riskier AUD.

Brisbane City Council has received a proposal to build a 32-storey hotel in the central business district addressing the city's lack of quality hotel rooms compared to Sydney.

In recent risk-off trade the Australian Dollar has been one of the hardest hit, giving up some vital ground in the past 24 hours.

U.S. stocks recovered about half of their Monday losses in late-afternoon trade, bringing the Dow Jones Industrial Average back above 11,000, with financials faring the best

The Chicago Midwest manufacturing index rose from 80.3 to 80.9 in October.

Global mining giant Rio Tinto Ltd appears all set to achieve another record earnings in 2010, paving the way for some billion-dollar share buyback initiatives by next year but the company declared that first on its list are planned spending for numerous projects over the next 18 months.

The Australian share market reversed its early losses to close higher, buoyed by healthcare, energy and bank stocks.

Australian stocks managed to reverse a weak start and close in positive territory for the first trading day of the week

The capital of Queensland is a buyer's market and will continue to remain so in the next two years predicted a property analyst.

The Real Estate Institute of Australia (REIA) has warned against top banks including real estate advice as part of their services

Metcash Ltd (ASX: MTS), the country's largest wholesale and distribution company, says it welcomes the Australian competition watchdog's court action aimed at preventing it from acquiring Franklins.

New home sales continue to point to a renewed decline in residential construction despite a slight improvement in October, according to a survey of Australia's major residential builders released today by the Housing Industry Association (HIA).

The Australian economy appears to be growing in a much less upbeat mode than many economists had thought as the latest data from the Australian Bureau of Statistics (ABS) showed that corporate earnings actually retreated in the September quarter.

Local stocks have started the trading week in the red, as investors look backwards to falls experienced on Friday night in the US and Europe.

Leighton Holdings Ltd (ASX: LEI), Australia's largest project development and contracting group has concluded discussions with Spanish builder Actividades de Construcción y Servicios SA (ACS) in relation to a governance framework to protect the interests of the Company's minority shareholders should ACS acquire control of Leighton's major shareholder, Hochtief AG.