COMPANIES

US StocksU.S. stocks fell Friday and posted the biggest weekly decline in a year, as a blur of debt-ceiling developments left the market uncertain over the course of Washington's deadlocked negotiations. The Dow Jones Industrial Average closed down 96.87 points, or 0.79%, at 12143.24, in a volatile session that extended the index's losing streak to six straight sessions. All but two of the 30 Dow components finished in the red.

MORNING REPORT (7am AEST)The US economy grew at a 1.3pct annual pace in the June quarter, weaker than forecasts centred on a gain of 1.8pct. In addition March quarter GDP growth was revised down from 1.9pct to 0.4pct.

Now Stanford researcher Elie Bursztein is demonstrating at the Black Hat USA 2011 security conference that Microsoft is making available online the locations of Wi-Fi devices without taking privacy precautions. He says that Microsoft's Live.com makes public the precise geographical location of wi-fi enabled gadgets.

Samsung Electronics Co., Ltd., announced during the week that Samsung GALAXY S II (Model: GT-I9100) has passed the 5 million global sales milestone.

Dell Inc. on Thursday launched the Dell Streak 10 Pro tablet, its first 10-inch Android Honeycomb 3.1 tablet.

Nintendo, which released the 3DS only in February, will lower the 3DS to $169.99 starting Aug. 12, down 32 percent from $249.99.

E-Bay Australia will start charging its users double on some auction listings to push sellers away from second-hand auctions to list new items.

Australia’s second mainland National Broadband Network (NBN) site has been switched on this morning, with residents in the Kiama Downs and Minnamurra, south of Sydney, set to experience superfast fibre broadband.

British police officials revealed on Wednesday the arrest of an 18-yea-old teenager that authorities tagged as the mouthpiece of a hacking group identified as responsible for breaching the security protocols of Sony Pictures and a host of other websites.

There are only three days left to enter MPA’s prestigious Top Commercial Brokers list, recognising the top-performing advisers in the non-residential space.

Australian employers are missing out on an entire sector of the workforce, with limited pathways currently available to skilled migrants entering the professional workplace, according to a new report.

Now that the economy is stronger, increased business confidence is driving investment in new projects, which is increasing the workloads of current employees, according to the latest Financial Employment Report from Robert Half.

A lack of industrial relations knowledge has compounded the number of industrial disputes currently underway, a HR expert from Macquarie University has said.

MIDDAY REPORT (11.45am AEST)The local share market is slightly weaker at lunchtime in the East, as the stalemate over the US debt crisis continues. A vote on the Republican plan to raise the US debt ceiling in the House of Representatives has been delayed. The All Ordinaries Index (XAO) is down 7.6pts or 0.2pct to 4531.6.

Westpac-owned St.George Bank now has one of the most competitive rates in the market for two-year fixed home loans, following an interest rate decrease of 0.10 per cent pa to 6.89 per cent pa for Advantage Package customers.

Singapore-owned budget carrier Tiger Airways will have to refund money to passengers booked to fly until next Thursday.

AFTERNOON REPORT (4.30pm AEST)Ongoing concerns about the US debt crisis saw markets around the Asian region heavily sold off again today. Investors remain concerned that even if US lawmakers come to an agreement over the raising of the debt ceiling, the US could still have its AAA credit rating downgraded. Japan's Nikkei index eased by 1.6pct today while the All Ordinaries Index (XAO) fell 73.4pts or 1.6pct to 4539.2 while the S&P/ASX 200 Index (XJO) eased by 73.6pts or 1.6pct to 4463.8....

Origin Energy Limited (ASX: ORG) and American partner ConocoPhillips has announced the approval of the $20 billion funding required in its liquefied gas project in Australia that targets to supply the Asian Region.

The latest report by Telstra, Mobile Innovation – The Next Frontier for Growth and Productivity for Insurers, launched in conjunction with the Financial Services Council, has identified new opportunities for the insurance industry to better use mobile phone technology in delivering services.

MIDDAY REPORT (12.15pm AEST)Local stocks are under heavy selling pressure in early trade, following another slump in US equities overnight and falls on the commodities markets. Wall Street recorded its biggest one day fall in nearly two months as the stalemate over raising the US debt ceiling continues. At lunchtime in the East, the All Ordinaries Index (XAO) is down 50.6pts or 1.1pct to 4562.

Tiger Airways will not be flying anytime soon, belying previous reports that the Singapore budget carrier will resume its Australian operations next week.

Investment bank Macquarie Group is sticking to its earnings forecasts despite the negative impact of subdued financial market activity.

World-leading solar researchers and industry members in Australia are collaborating to develop new ways of generating zero-emissions electricity using a printing machine to produce solar cells.

Australian retail-to-coal conglomerate Wesfarmers today posted $11.7 billion sales across its retail chains, a 5.8 percent increase in the fourth quarter from a year earlier.

Owners and managers in Australia are warned of cyber security risks and are advised to take the necessary measure to protect their businesses from hacking.

Aussie Home Loans has called on the Reserve Bank to show restraint next Tuesday, August 2, when the RBA board meets again to decide on the course of interest rates.

More than 300 jobs are expected to be lost under plans by Telstra to relocate some services to India as well as other offshore locations.

With the resources sector poaching limited labour from other states with the promise of huge wages, business heavyweights are warning that the rest of the Australian economy is not prepared and cannot compete.

Companies often claim that people are their best asset. For that to be true, it is important to invest in employees through training and other learning opportunities.