BUSINESS

U.S. stocks fell, spending Black Friday in the red as growing worries over the euro zone debt crisis overshadowed an encouraging start to the holiday shopping season.

European Union finance ministers have approved an 85 billion euro bailout for Ireland. Portugal approved its austerity 2011 budget on Friday causing the Portuguese/German 10-year bond spread to ease.

To further bolster Qantas Airways Ltd’s re-invigorated safety measures despite its A380 fleet’s engine woes, chief executive Alan Joyce is boarding QF31’s Sydney flight on its way to London, the first time the aircraft would fly again following the fleet’s grounding more than three weeks ago.

The Australian share market closed marginally higher on thin trading volumes in the absence of a lead from Wall Street due to the Thanksgiving Day holiday.

The Australian Securities and Investments Commission (ASIC) finally decides to commence legal proceedings against the owners of Storm Financial and three major banks that facilitated loans on investors, who saw their investments melted away when the investment firm collapsed.

A number of banks have confirmed National Australia Bank's (ASX: NAB) unresolved technical glitch that occurred Wednesday had affected their transactions.

In a surprise move, the Queensland government suddenly announced that it would sell its multibillion-dollar toll-road asset in an off-market transaction to the Queensland Investment Corporation (QIC) instead of proceeding with the bidding process.

Budget carrier Jetstar reportedly fired one of its pilots for calling management attention on safety and workplace concerns, with the dismissed employee airing his gripes on a news article printed out by Fairfax publications.

For many couples property and money issues are an important aspect of any relationship. Making sure that you are both on the same page when it comes to property investment will come a long way in preventing complicated disputes in the future.

Oil and gas producer Origin Energy Ltd (ASX: ORG) and Australian Carbon Trust today signed an agreement to develop a strategic alliance for dedicated and more accessible financing, designed to accelerate the uptake of energy efficiency technologies and practices by Australian businesses.

Real Estate Institute of WA is appealing changes to stamp duty regulations that has further discouraged potential buyers from purchasing homes.

Australia's Senate passed legislation on Friday to force dominant phone company Telstra Corp (ASX: TLS) to separate its wholesale and retail arms. This 'paves the way' for the Canberra's planned $36 billion national broadband network.

Chinese security officers reportedly arrested and locked up an Australian businessman in Guangzhou, China as authorities launched an investigation on alleged misuse of company resources, which the detained man also heads.

Prices for property in Western Australia have dipped by 30 percent based on information released by the Real Estate Institute of WA.

US markets were closed overnight for the Thanksgiving Day holiday.

The devastating mine accidents in the recent months have prompted Rio Tinto (ASX:RIO) to further pursue new innovative means of safety for its miners. Australia's Rio Tinto will be investing some C$10 million for research to create a Centre for Underground Mine Construction.

Authorities have set a building revival forum for February 8, 2011 aimed at supporting the Queensland as it deals with the effects of the Global Financial Crisis.

Melbourne's suburbs lack new office buildings thus keeping demand high and vacancy rates down reported Colliers International's Melbourne Metropolitan Report.

The Reserve Bank of Australia (RBA) hinted on Friday it is likely to hold the cash rate at 4.75 percent for the rest of the year.

The AUD has opened slightly higher this morning, despite thin trading conditions with the Thanksgiving holiday in the US overnight.

The multi-million Yarra Valley project has failed as its lead investor Melbourne businessman Bernard Roux filed for bankruptcy.

The Aussie opens around the US98 cent mark today after yet another volatile 24 hours.

The main European equity markets advanced Thursday as a strong finish on Wall Street offset worries about sovereign debt in peripheral euro-zone countries.

The European Commission and German Government have denied a news report that European officials were considering doubling the size of a rescue fund to support the Euro.

The Australian stock market posted moderate gains on Thursday, amid sluggish trading conditions ahead of a public holiday in the US.

Home buyers and sellers are increasingly opting for more environmental friendly homes according to industry insiders and research groups.

Melbourne-based architectural firm , Fender Katsalidis, is set to design the world's second-tallest tower standing 580 meters high and inspired by Islamic patterns in Kuala Lumpur.

Work on the new Royal Melbourne Institute of Technology campus located on Swanson Street in Melbourne has begun and is expected to become a design landmark when the US$228 million, 11-storey city campus is finished in two years.

The Virgin Blue Group of Airlines Brisbane Domestic Terminal will undergo a multi-million major refurbishment that will include an upgrade of existing facilities on both the arrivals and departures concourse.