BUSINESS

Uranium producer Paladin Energy Ltd has issued an estimated $A304-million worth of convertible bonds to re-pay maturing debt obligations and expand its mining areas in the country and in Africa.

Economists are convinced that the Reserve Bank of Australia (RBA) will move for a rise on its policy rates come November 2, notwithstanding the better inflation readings furnished by the Australian Bureau of Statistics (ABS) in the September quarter.

The Australian share market is trading flat today, as gains from the banks are offset by losses from mining stocks. The All Ordinaries Index (XAO) is up 2.8pts at lunchtime in the East to 4764.3.

Australia’s headline consumer price index (CPI) barely missed the market forecast of 0.8 percent in the September quarter as new data furnished by the Australian Bureau of Statistics (ABS) showed that the country’s CPI went up by 0.7 percent in the quarter, en route to an annual rate of 2.8 percent.

Australia's headline consumer price index (CPI), the data that the central bank uses to gauge the underlying trend in inflation, lifted 0.7 per cent in the September quarter, for an annual rate of 2.8 per cent, the Australian Bureau of Statistics (ABS) said today.

The Property Council of Australia (PCA) says it is time for NSW to wind back a raft of new and higher taxes on the property sector and head down the path of broader reform.

Australian company Telstra launched Telstra T-Touch Tab today, dubbing as the "the most affordable wireless tablet from an Australian telco."

A chronic shortage in available rental properties is now a permanent fact of life in New South Wales three major metropolitan centres, the Real Estate Institute of NSW (REINSW) says.

The Australian Dollar has opened slightly lower this morning after trading comfortably over USD 0.9900 yesterday.

Amazon.com launched Amazon Windowshop, an application specifically tailored to the iPad. It is a complete rewrite of Amazon.com.

National Australia Bank has reported a 63 percent jump in net profits to $4.22 billion, due to lower charges slapped on its nonperforming loans.

A mixed performance of global stocks is seen to create a bearish mood in the Australian stock markets today.

U.S. stocks meandered between positive and negative territory as a mixed bag of corporate earnings and economic data left investors without clear signs on whether the market's recent rally can be justified.

US consumer confidence rose from 48.6 to 50.2 in October, above forecasts centred on a result near 49.2.

The Aussie was largely range bound during yesterday's domestic session moving between 0.9880 and 0.9920 ahead of todays release of third quarter inflation data.

Business confidence in the September quarter rose although business condition eased marginally, according to new figures.

The Australian share market closed weaker on Tuesday, dragged down by financial stocks and profit taking after recent gains.

Motorola Solutions announced the launch of three new video solutions: Realtime Video Intelligence (RTVI), Optimized Video Security and ALT1000 Automatic License Plate Recognition (ALPR) Surveillance Trailer at the 2010 International Association of Chiefs of Police (IACP) conference.

Military vehicle manufacturer Thales Australia announced on Tuesday that it would have to let go a hundred workers before Christmas, blaming the job cuts to the high-flying Aussie dollar and reduced manufacturing contracts secured by the company.

Boosted by strong indications of investors support, Foster’s Group planned demerger of its wine businesses and brewery operations appeared to be picking up steam as the company declared that once shareholder gives the green light, the separation could be realised by the first half of 2010.

Australian shares retreated today, as sellers moved in following the impressive gains made during yesterday's trade.

Australian shadow treasurer Joe Hockey questioned the merger of the Australian Stock Exchange (ASX) and the Singapore Exchange whether the merger is Australia's interest.

The Australian Banana Growers' Council (ABGC) called on retailers to ensure consumers reap the benefits of an abundance of bananas from major production areas by cutting off price of the fruit.

Australian regulators will have their hands full scrutinising the $8.4 billion mega deal between the country’s stock exchange and Singapore, which is poised to emerge as the dominant entity once the takeover agreement reaches realisation, tentatively by the second quarter of 2011.

Following reports published by Access Economics that Western Australia is poised for a solid production growth by next year, the WA Chamber of Commerce and Industry called on the federal government to devise ways that would encourage the influx of skilled workers into the state.

The Australian share market has come off highs reached yesterday, as regulatory hurdles put a dampener on the proposed merger between the ASX and Singapore Exchange.

Leighton Contractors, a wholly owned subsidiary of Australia's largest construction company Leighton Holdings Limited (ASX: LEI), has been awarded $670 million worth of new road work.

Commonwealth Bank of Australia (ASX: CBA) has warned significantly higher funding costs will impact banks in the short to medium term underscoring the challenge ahead for the deposit deficient sector.

The AUD has opened slightly weaker this morning after strengthening during the later parts of our trading session yesterday and the start of the offshore session overnight as a result of some unexpectedly strong data for Australian producer prices.