BUSINESS

The Australian share market closed flat on Tuesday as investors await major economic data due later in the week.

Local stocks closed flat today, with earlier wins being erased as the Dow Futures suggested a weak session on Wall Street. The All Ordinaries Index (XAO) rose 3.9pts or 0.1pct by the day's close to 4727.3.

In order to sustain its economic success, Australia needs to train its business eyes beyond its borders and reaffirm economic reform commitments or face an uncertain future.

Disney, Paramount and Marvel Entertainment announced that the worldwide marketing and distribution rights for Iron Man 3 and the Avengers of Paramount will be transferred to Disney which acquired Marvel Entertainment last year.

Amidst claims by some prominent fund managers of a too steep share prices for its public float, officials of QR National maintained that the prices were based on careful analysis by the Queensland government that have so far attracted considerable attention from investors.

The policy rates will definitely move up and it’s only a matter of time as far as the Reserve Bank of Australia (RBA) is concerned, as shown by the Tuesday release of the central bank’s October 5 board meeting minutes.

Credit ratings agency S&P has given a triple B+ rating on Australia's biggest gaming firm Tabcorp Holdings Ltd.

The Australian share market has rebounded from yesterday's sell-off, thanks to a positive lead from Wall Street and generally firmer commodity prices.

The latest Bankwest/Mortgage and Finance Association Home Finance (MFAA) Home Finance Index has showed a record number of first time buyers are looking to their families to help raise a deposit for their home.

Christchurch City of New Zealand and its surrounding district were once again hit by a magnitude 5 earthquake, almost six weeks after the high intensity tremor rocked the island-nation.

Strong demand for resources-based construction and major infrastructure projects is expected to drive an upturn in the construction sector over the course of 2010/11 and 2011/12.

U.S. stocks climbed Monday, boosted by earnings from Citigroup and a measure of home builder confidence that topped expectations. The Dow Jones Industrial Average rose 71 points, or 0.6%, to 11134.

US industrial production fell by 0.2pct in September after rising by 0.2pct in August. Analysts had tipped a 0.2pct gain.

Australian copper and gold mining firm OZ Minerals Ltd. said annual gold production will exceed earlier forecast by 10 percent based on third-quarter output rose to 51,451 ounces as of end-September.

The Australian Dollar slid to 0.9800 against the US Dollar as investors continued to buy back the Greenback in a wave of profit taking.

The AUD has opened this morning higher after weak sentiment towards the USD continued overnight; currently just trading around USD0.9900.

Overnight, US markets posted convincing gains on the back of better-than-expected earnings from Citigroup and a subsiding of fears over a foreclosure crisis, with financial stocks leading the market higher.

A New York-based private equity firm has offered to acquire Australia's Perpetual Ltd. (ASX: PPT) for A$1.75 billion to take advantage of the higher yielding assets available.

The Australian share market closed weaker on Monday, dragged lower by banks and miners, as investors remain cautious about the US economic outlook.

Local stocks closed in the red today, weighed down by concerns about foreclosures for US financial companies and the scrapping of a major joint venture by Australia's two largest listed mining companies.

Many Australian firms are finding it hard to cope with their payables and stretch more time to make payment in the September quarter, leading businesses to worry that cash flows could be restricted amidst efforts for a significant turnaround on the current year.

The Finance Sector Union (FSU) today slammed Westpac's decision to cut its Asgard work force in Perth by one third. The bank's decision will see 120 jobs lost from Westpac's wholly owned subsidiary, Asgard's Perth operation.

The market failed to find any inspiration today. A mixed lead from Wall Street and softer commodities markets saw investors retreat at the open. The market made a second dip around 1pm AEDT - coinciding with a fall in the Dow futures and a weaker Hang Seng.

The steady but relatively low level of unemployment rate in Australia could lead to business slowdowns and render the federal government’s infrastructure initiatives quite vulnerable.

Reacting to the acquisition bid tossed on its German parent company, Hochtief AG, Leighton Holdings Ltd (ASX: LEI) moved on Monday to protect its minority shareholders as the construction firm requested the Australian regulator to intervene on the buyout transaction.

Supermarket giant Coles is now set to shake up Australia's home and contents insurance market, following the launch of its car insurance product.

Popular social networking site Facebook recently imposed charges of up to $US2500 on company employees for divesting their private stock in an apparent attempt to capitalise on the burgeoning market that trains the attention of investors on similar start-up companies such as Twitter and LinkedIn.

After years of continuous growth in the number of Australians choosing GreenPower electricity plans, the green tide has turned as 138,000 households ditched their GreenPower plan over the last 12 months.

The months of tabloid-hogging stories finally ended in a settlement that eventually veered away from the multi-million dollar sexual harassment suit filed by a former publicist against her former employer, high-end retailer David Jones Ltd and its resigned chief executive Mark McInnes.