BUSINESS

Oil producing countries are anxiously waiting for the global oil prices to bottom out. The commodity price has continued to fall in the recent months.

The Australian Dollar has remained within the recent 0.8100-0.8200 range yesterday.

Plenty of risk, plenty of uncertainty and a good dash of fear has welcomed the markets to 2015.

In US economic data, a survey of small businesses - the NFIB business optimism index - rose from 98.1 to 100.4 in December. The JOLTS job openings index rose from 4.83 million to 4.972m in November. And chain store sales were up by 3.8% in the latest week on a year ago, down from the 4.3% gain in the previous week.

The market has managed to recover some of its earlier losses to finish the session in the middle of the day's range - helped by better-than-expected Chinese trade data. The All Ordinaries Index (XAO) slipped 17 points or 0.3 percent to 5,382, while the ASX 200 (XJO) lost 18 points or 0.3 percent to 5,404. Eight out of the 10 sectors closed lower.

Australian shares are falling for the second day with a falling oil price holding back mining and energy sectors most. The ASX 200 Index is down 0.7 per cent following Monday's 0.8 per cent tumble.

Google has unveiled a working prototype of its self-driving Google Car in California. The vehicle looks like a little beetle pod with two large headlights and a nose at the front and rounded corners. Once ready, the car will be able to drive, stop for pedestrians, obey traffic signals, watch out for hazards - all without the need for a human driver.

Biogen has acquired Convergence for its portfolio of pain treatments and key drug for neuralgic pain.

Sanofi and Regenron have found that their Alirocumab treatment is successful in controlling bad cholesterol levels in patients.

Investors are cautiously watching the price of oil and its impact on global stock markets after supply glut led to a fall in the commodity’s price.

Oil prices have again been the stand out story overnight. Who breaks the stalemate and cuts production first, OPEC or US shale producers?

There is no escaping crude's effect on global markets. A fresh five-and-a-half-year low in both West Texas Intermediate (WTI) and Brent now see the oil prices well below US$50 barrel as it marches towards the expected support level of US$40 a barrel.

The Raffles Hotel in Perth has officially banned Lycra shorts on its premised. The prohibition was because of the complaint of hotel guests that many cyclists who wear Lycra biking outfits are sweaty and smelly.

BHP Billiton (ASX: BHP) has sought the permission from the federal government to increase the height of the walls of its tailings dam at its Olympic Dam mine in South Australia by 10 metres from 30 to 40 metres.

In US economic data, the employment trends index rose from 127.83 to 128.43 in December.

The Australian sharemarket has followed US and European markets into negative territory today - putting an end to a two-session rally. The All Ords (XAO) has closed near the day's lows, losing 0.7 percent to 5,399. While the ASX 200 (XJO) fell 0.8 percent to 5,422.

Lynx has featured a gay kiss on an Australian TV ad, and has earned praises for it.

Australian shares have kicked off the trading week in the red following the best gains of the year on Friday. The ASX 200 Index is down 0.4 per cent with all sectors losing ground. This follows global sharemarket weakness and a drop in commodity prices.

Thousands joined a global unity rally in honour of those killed by extremists during the Charlie Hebdo attacks in Paris.

Concerns about the possibility of a recession in the Russian economy continue and the country faces new challenges in 2015.

The Australian Dollar has opened around the .8200 level as US non-farm payroll numbers were better than expected but wage growth disappointed.

The US earnings season begins tonight and Australia's earning season begins in two weeks; expectations for the both are low at best.

Myanmar Deputy Finance Minister Maung Thein announced over the weekend the formation of the country's first stock market by October, the Yangon Stock Exchange.

In US economic data, non-farm payrolls (employment) rose by 252,000 in December, ahead of forecasts for a gain of 240,000. The unemployment rate fell from 5.8% to 5.6%. And average earnings fell by 0.2%, short of forecasts for a 0.2% gain. And wholesale sales fell 0.3% in November with inventories up 0.8%.

On Tuesday, American boxer Floyd Mayweather Jr lost the chance to earn a guaranteed purse of $120 million after a group of investors from the United Arab Emirates withdrew their offer made in November. The investors, which includes royals, were disappointed in Money May's lack of commitment to fight Filipino boxer Manny Pacquiao.

The Bank of New Zealand has predicted the economy to head into a 6-month deflation following global overcapacity and weak oil prices.

Separation from iPhone causes users to perform poorly on tests and feel disoriented.

The local share market has wrapped up the last trading day of the week on a positive note, finishing close to the day's highs. The All Ords (XAO) jumped 80 points or 1.5 percent to 5,440, while the ASX 200 (XJO) climbed 84 points or 1.5 percent to 5,465.

Nico Roseburg teased his Mercedes team mate Lewis Hamilton on social media as the latter turned 30 on Jan. 7th.