BUSINESS

The early progress evident in the market this morning had been stymied by lunchtime and the balance of power had swung back to the sellers. The reversal of fortunes reflects the gains seen in the market over the course of the last 24 hours where the ASX 200 has gained about 1 per cent since the low s of the previous day. One of the factors supporting Asian markets as a whole over the afternoon was the improvement in S&P 500 futures over the course of the afternoon.

The chief commercial officer (CCO) of Dubai-based Airline Emirates has flatly denied it has ambitions to invest in the international operations of Australia's Qantas Airways.

BlackBerry has announced that it is going to host events in London, Dubai and Toronto. The invite-only proceedings, which will apparently help invitees “See The Bigger Picture,” is going to be held on Sep 24.

Although the chances of a 'QE' program being implemented in Frankfurt on Thursday are remote at best, the chances of a program being implemented in the coming six months are above 50%.

In US economic data, the ISM manufacturing index rose from 57.1 to a 3½ year high of 59.0 in August, well above forecasts of 56.8. And construction spending rose by 1.8% in July, above forecasts for a 1.0% gain and to a 5½ year high.

Latest market data reveal that Austin has topped the list of real estate markets where homes stay shortest in the market, according to a report on Kxan.com.

Like other telcos, Telstra is looking forward to the official launch of Apple's iPhone 6 on Sept 9 and its shipment to Australia. The latest flagship of the Cupertino-based tech giant is expected to boost Telstra's income by $500 million, Morgan Stanley Research analysts estimate.

The Australian market improved this afternoon to finish at the best levels of the day and at a fresh six-year high. Volume was light due to the Labor day holiday yesterday in the US.

The Australian Communications and Media Authority has ordered smaller telcos in the country to implement a provision in the Telecommunications Consumer Protection Code.

Market volumes remain well below average across the globe.

Addiction rehabilitation company BioCorRx, Inc. (OTCQB: BICX) has joined more than 50 exhibitors in the eMoneyShow, which provided investors instant access to top stocks, options and ETFs that global firms are adding to their portfolios, the company said in a statement.

The Australian sharemarket edged higher, making up for part of last week's 0.3 per cent slide. The All Ordinaries Index (XAO) rose by just 0.1 per cent and volume was light ahead of market closures in both the US and Canada (Labor Day) tonight. Slightly weaker than forecast readings on the health of China's manufacturing sector held back the miners this afternoon while the Australian dollar remained firm. The XAO is only 0.7 per cent away from re-visiting six-year highs.

At least a family and a group of three friends have struck rich after finding gold bars on Folkestone beach as part of the coastal town's third triennial arts festival.

The WHO has called on the government of Senegal to consider "a top priority emergency" efforts.

The local share market has started the week on a positive footing, gravitating towards the 5650 area for the ASX 200. Sentiment was helped by US share markets which ended modestly higher on Friday. Investors remained wary as they monitored both the situation in Ukraine and mixed economic data in addition to a wariness about taking on new positions ahead of a holiday weekend. Domestic sellers remain wary of the underlying strength of US stocks with the S&P 500 index closing at record highs; while...

Global markets are in for a big week on the central bank front, with the RBA, BoE, BoJ, BoC and ECB all set to meet. In the background will be the threat of Russia/Ukraine tension derailing the recovery. EU leaders are likely to impose further sanctions on Russia this week if no resolution is reached. As a result, while investors will be optimistic about potential central bank action, particularly from the ECB, there is likely to be a degree of caution exercised.

In US economic data, the Chicago purchasing managers index rose from 52.6 to 64.3 in August - the biggest monthly point gain since July 1983. US personal income rose by 0.2% in July with spending down by 0.1% - both results fell short of forecasts. And consumer sentiment rose from 79.2 to 82.5 in August, above forecasts for a result near 80.1.

British mum Theresa Cox blames the mobile phone game Clash of Clans for almost emptying her bank account of £7,000 which was automatically debited from her funds.

Australia's renewable energy is threatened by the recommendation of a recently released review, suggesting that the government should scrap or weaken its current renewable energy target. Solar panel systems are expected to increase to almost half of its original price.

A North Korean official of the Korea Daesong Bank, identified by JoohnAng Ilbo newspaper as Yun Tae Hyong, left the country with $5 million and is in Russia, seeking asylum in a third nation.

Buyers and sellers exchanged blows over the course of the session on Friday. Buyers were able to land the final blow which allowed the ASX 200 to end the day with a gain of 1.5 points. The month has yielded a similar outcome in terms of scale, with the index losing 0.12%.

The inevitable, as a result of the two tragedies that hit Malaysia Airlines four months apart, just happened. The embattled air carrier announced on Friday that it would axe up to 4,000 employees, including its chief executive officer, The Telegraph reports.

The Australian market is unchanged at lunch, with weakness from the mining sector and consumer staples holding the broader market back. Shares in the US fell for the first time this week while remaining near record highs. Stronger than expected US economic growth last night was offset by tensions in Eastern Ukraine. US markets will be shut on Monday for a holiday.

Equities retreated as geopolitical risk reared its ugly head yet again. News that Ukraine-Russia tension is flaring up again sharply spooked investors, with reports suggesting Russia has even more troops in separatist territory. These reports were backed by NATO images and President Obama has since warned of more sanctions against Russia.

In US economic data, the economy grew at a 4.2% annual pace in the June quarter, up from the "flash" estimate of 4% and above forecasts of 3.9%. New claims for unemployment insurance fell by 1,000 to 298,000 in the latest week and below forecasts of a result near 300,000. And pending home sales rose by 3.3% in July, above forecasts for a 0.5% gain.

Despite naysayers crying the stunted recovery of the U.S. real estate market due to a slowdown in home price increase, one expert notes that the slowdown is actually good for the economy.

Showing that he practices what he preaches, green advocate and former U.S. Vice President Al Gore invested £8 million in Ovo Energy. The investment comes before one of the fastest-growing new power suppliers in the UK launches its initial public offering (IPO).

A Japanese court has ruled that Tokyo Electric Power Company (TEPCO), operator of the tsunami-crippled Fukushima Daiichi nuclear power plant, is liable for the suicide of a woman in 2011 due to physical and mental effects brought by the disaster.

Local sellers have been chastened by the performance of US stocks over the course of recent sessions. US indices may have been flat in overnight trade but the willingness of the S&P 500 to remain in the range of the 2000 mark has meant that domestic sellers have been wary of committing themselves wholeheartedly as the broader US market runs the risk of breaking higher through one of the more significant technical levels of recent history. Sellers pushed the ASX 200 down by 24 points in the openi...