BUSINESS

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.

U.S. stocks gained Monday, as a weaker dollar boosted materials and hopes for further central bank stimulus kept the market edging higher.

US existing home sales rose by 10pct in September to an annual rate of 4.53million, well above forecasts centred on a rise of 4pct to 4.30 million.

The Aussie spiked sharply above US99 cents during local trade yesterday after stronger-than-expected producer price data (PPI) increased the prospects for an interest rate rise next month.

The local share market soared today as news the Australian Stock Exchange plans to merge with the Singapore Exchange boosted investor sentiment.

The Australian share market closed higher on Monday, led by financials and resources, as a possible merger between the Australian Stock Exchange and Singapore Stock Exchange boosted positive sentiment.

Australia must prepare as early as now for the end of the mining boom or else feel the wrath of internal and external pressures on the monetary and fiscal situation of the country, Reserve Bank Governor Mr. Glenn Stevens said today.

The A$1.75-billion unsolicited offer by the Kohlberg Kravis Roberts & Co (KKR) does not reflect the real "value" of the company, listed company Perpetual Ltd. (ASX: PPT) said in today.

With the release of its first of a series of issues papers, the Australian Communications and Media Authority (ACMA) today signalled it intends to shake up the Numbering Plan, which sets out the rules for the use and administration of telephone numbers in the country.

Russell Balding has announced his departure as CEO of Sydney Airport in early 2011 at the conclusion of his employment contract.

Australian Rail Track Corporation (ARTC) has reported that the limited train movement of the west line track near Wodonga has resumed its run this morning, 6am, Sydney time.

The Australian share market has surged today, on news that the ASX (ASX) has entered into an agreement to merge with the Singapore Exchange (SGX). At lunchtime in the East, the All Ordinaries Index (XAO) is up 57pts or 1.2pct to 4776.6.

Leighton Holdings Limited (ASX: LEI) today said it will be making an application to the Takeovers Panel seeking a declaration of unacceptable circumstances and consequent orders in relation to the proposed takeover bid by Spanish company Actividades des Construcción y Servicios' (ACS) for Leighton's German parent Hochtief AG.

A sense of urgency to pay down home loans ahead of rate hikes combined with low personal savings is seeing many Australians embrace credit cards as a means of meeting everyday expenses, new data suggest.

Rio Tinto Ltd's (ASX:RIO) would still pursue its planned Oyu Tolgoi copper and gold project in Mongolia despite some strain with Canadian partner Ivanhoe Mines.

US stocks closed mixed on Friday as good corporate earnings were weighed against concerns over the dollar as G20 finance ministers held talks in South Korea in a bid to avert a currency war.

The Aussie opens higher on Monday at 0.9850 and received a boost after comments by U.S. Treasury Secretary Timothy Geithner at the weekend's G-20 conference.

Chi-X Global Inc. is still set to work towards launching in March 2011, in spite the growing threat of a tougher competitive environment with the bid takeover of the Singaporean bourse of rival ASX Ltd.

Canadian Equinox Minerals Limited (TSX and ASX: EQN) ("Equinox") has announced that it has completed an agreement Australia's Resource Group Limited (ASX:CGG) ("Citadel"), under which Equinox proposes to acquire all of the issued and outstanding shares of Citadel by way of a recommended takeover offer (the "Offer"). The Board of Citadel has recommended unanimously that Citadel shareholders accept the Offer, in the absence of a superior proposal.

The Singapore Stock Exchange is set to offer some A$8.4 billion deal to Australia's ASX that targets to build one of the biggest exchange trading hubs in the Asia-Pacific as competition stiffens in the local arena.

The Australian share market ended the week higher on Friday, led by miners and the banking sector.

The local share market managed to notch up a win for the final session of the trading week, on the back of a positive offshore lead. The All Ordinaries Index (XAO) gained 23.2pts or 0.5pct to 4719.6 while the S&P/ASX 200 Index (XJO) added 25.3pts or 0.6pct to 4648.2

Toyota Australia decided on a recall after all, as the carmaker revealed on late Friday that it was going along with its parent company’s announcement in Japan of up to 1.5 million vehicle recalls across the globe.

Another player emerged in the ongoing Channel Ten share market swing drama as a note lodged to the Australian Securities Exchange on Friday showed that Birketu Pty Ltd moved to increased its stake on Ten Network Holdings Ltd (ASX: TEN)

New figures released by the Australian Bureau of Statistics (ABS) on Friday pieced together the roller-coaster ride experienced by Australian businesses during the global financial crisis that sunk much of its pangs on the local economy from late 2008 to the best part of 2009.

Farmer-Shareholders of food producer SunRice are seriously considering the $600-million offer of Spanish firm Ebro Foods.

BHP Billiton Ltd chairman Jac Nasser is upbeat that, despite the heightening currency and global trade disputes, emerging markets from across the world have shown significant and exciting growth prospect.

Amazon Web Services LLC (AWS) announced that developers and businesses will be able to take advantage of a new free usage tier for a full year.

Chi-X Global Inc. is preparing a unique trading platform that could provide the fast and efficient platform beneficial to Australian and foreign investors keen on participating in the market action worldwide.