(4.30pm AEST)Investor confidence remained strong today, with the local market managing to hold onto and add to yesterday's 3.5pct gain. Markets around the Asian region were generally firmer, after the Greek parliament approved a contentious property tax law which is crucial to its austerity plan and its commitments to secure bail-out funds. The local share market lost a little steam in afternoon trade but closed higher by 0.8pct, with the All Ordinaries Index (XAO) adding 34.2pts to 4097....
MIDDAY REPORT (12pm AEST)The Australian sharemarket is gaining for the second straight day with the ASX 200 index (XJO) up 0.5 pct or 20.5 pts to 4025.1 while the broader All Ordinaries index (XAO) is also 0.5 pct or 22.2 pts higher to 4085.7. Shares improved by 3.5 pct yesterday, breaking three consecutive sessions of losses.
AFTERNOON REPORT
(4.30pm AEST)The Australian share market snapped a three day losing streak today, rallying by 3.5pct as investor sentiment was boosted by hopes European leaders will announce fresh measures to address the sovereign debt crisis. The All Ordinaries Index (XAO) added 135.9pts to 4063.5, after touching an intra-day high of 4049. The S&P/ASX 200 Index (XJO) firmed by 140.7pts or 3.6pct to 4004.6.
The latest Australian Industry Group/Deloitte CEO survey released on Tuesday, "Business Regulation," points to the high and rising cost of complying with regulation for Australian businesses.
Fashion magazines are now selling the goods they cover in e-commerce sites and could potentially become competitors to retail stores like Neiman Marcus and Barneys New York.
MIDDAY REPORT
(12pm AEST)As expected, the Australian share market is wiping out yesterday's falls with the All Ordinaries index (XAO) up 2.9 pct or 114.9 pts to 4042.5. Keep in mind that despite the improvement, the market locally has still lost ground for five of the past seven sessions.
Apple is currently in a legal battle with Samsung to ban the device from Australia due to patent infringements. Samsung had agreed not to sell in Australia until the hearing in Sydney is concluded. Apple had asked Kogan to withdraw the product and threatened to sue the retailer along with Samsung if it didn't comply.
Queensland's banana industry is recovering after the Australian state was flooded in summer. Queensland Premier Anna Bligh forecast lower banana prices in the coming weeks from the peak of $15 a kilogramme due to expected bumper harvest from North Queensland.
Payment networks Visa and MasterCard will impose the highest fees for even the smallest debit transaction for cards issued by JP Morgan Chase and Citigroup as allowed by a U.S. law that put caps on such fees.
UK online brand ASOS had launched its first site ASOS exclusively for the electronic shopping savvy Australians beginning on Sept. 15.
Lumped together the pay checks collected by the top executives of BHP Billiton, Commonwealth Bank of Australia (CBA) and Coles for financial year 2010-2011 alone and you’ll get more than $43 million, which is more than enough for an average Australian to last a lifetime.
Amazon has launched its new service that allows U.S. based Kindle users to borrow ebooks from 11,000 libraries across America. The service is now in the Beta testing stage in two libraries in Seattle and will eventually be available on other libraries in the U.S.
Angry Birds mania continues to spread rapidly even beyond the techie world. Proof of this is that Angry Birds soft toys are also selling like hotcakes at the rate of one million pieces monthly.
The Heart Foundation, which grants the use of the health seal in license agreements, said it has asked McDonalds to remove the popular Tick sign, not as a criticism, but as a move indicating a change in the foundation's focus. McDonald's pays about $300,000 a year for the right to display the Tick seal.
In a bid to get a larger cut of the shrinking Australian consumer market, online department store CatchoftheDay rolled out on Wednesday it third e-commerce portal named Grocery Run. By its foray into grocery, the online seller challenges traditional supermarkets.
If you can't stand the heat, get out of the kitchen. This idiomatic expression seems to be the labor policy of Amazon.com at its warehouse in Lehigh, Penn., if what workers there say is to be believed.
Lime Door Brands, the Australian company that manages Shane Warne's underwear brand has entered into voluntary liquidation.The company which is also behind the lingerie and dress line by burlesque star Dita Von Teese held a creditors' meeting yesterday but hasn't released a statement about the future of the company.
Federal Court Justice Peter Jacobson ruled on Tuesday in favor of Metcash's and Pick n Pay's planned purchase of supermarket chain Franklins for $250 million because the transaction would not violate the country's anti-trust laws.
Esprit has turned to the Chinese market to help increase its profitability and has embarked on a four-year investment program that will cost HK $18 billion.
As major Australian retailers absorb the ongoing crunch in the sector, players also point the blame on rent fees that further sap away the measly margin, if any, they were able to make.
More confirmation of the weakness of Australia's retail industry came out on Monday as investment firm Premier reported a 49 per cent drop in profit for its retail businesses.
A McDonald's drive through in Sydney suffered its second robbery within a span of one week.
Britain's largest online fashion retailer ASOS is set to lure Australian shoppers with a standalone website down under.
Australian retailer Myer is spending $9 million on a new website aimed at making the store the country's largest online department store. Myer targets to generate up to $40 million in annual sales from the new portal.
More than 3000 Qantas staff plan to stop work on Monday September 20. The planned industrial action is to take place in the morning peak period in most airports around Australia, which will last four hours.
Beijing municipal government will implement a policy requiring all companies to establish a labor union not only to attract new investments, but also to help labor workers receive higher wages.
Target.com's Website crashed on Tuesday morning following intense cyber interest created by its sale of Missoni items, an Italian fashion brand known for zigzag knits and bright patterns.
Australian gamers will have a reason to celebrate this season as Microsoft announced that it has slashed the price on its Xbox 360 and Kinect bundles by AU$50 in time for the Christmas season.
Coca-Cola Amatil has expressed plans to launch a legal action against the upcoming Northern Territory recycling initiative that would provide a $0.10 incentive for every plastic bottle returned to a beverage manufacturer.
On the eve of the Federal Government's October Tax Forum, new research from MYOB has found more than two thirds of Aussie business owners (71%) want the Business Activity Statement (BAS) simplified and three quarters (76%) want to have the GST rules reviewed and clarified; while over one third (33%) said that addressing these concerns would impact their voting intentions.
