ECONOMY

Home loan approvals in February declined anew, according to the new data issued on Wednesday by the Australian Bureau of Statistics (ABS), highlighting a slump in housing sector that started in the first month of 2012.

The Australian Bureau of Statistics (ABS) surprised the nation on Thursday by releasing unemployment statistics contrary to analysts' expectations. Instead of a 5.3 per cent joblessness rate, Australia's unemployment rate was steady at 5.2 per cent in March.

Lying in the shadows of China, bordering bustling Thailand, and next to emerging Cambodia, Vietnam occupies the sweetest spot in the region.

BHP Billiton (ASX: BHP) announced on Wednesday that it would close its Norwich Park coking coal mine in Queensland due to flooding, strikes, higher costs and falling prices that caused production cut to all the firm's mines.

There was only one direction for the Australian share market today: down. More falls on Wall Street and weaker commodity prices saw the local share market lose ground for the fourth session in a row, its longest losing streak in four months. Disappointing economic data added to the gloom, with the All Ordinaries Index (XAO) closing down 46.1pts or 1.1pct to 4327.6.

The ANZ says internet and newspaper job ads at a three year high, but the National Australia Bank sees business confidence and conditions grinding "higher but with little jobs growth".

The first Australian shipment of liquefied natural gas (LNG) from Woodside Petroleum's Pluto project in Western Australia this April is not just a milestone for the country's gas industry. It could also help pave the way for the country to become the world's biggest LNG exporter by 2018.

The weakness of Australia's manufacturing sector continues to be felt as 126 workers at an automotive facility in Victoria found they were stood down by the APV Automotive Components in Melbourne.

The National Australia Bank (NAB) cut on Tuesday its growth forecast for Australia to 2.9 per cent from 3.2 per cent for 2012.

The Australian share market resumed trade after the Easter break and tumbled into the red, following weaker than expected economic data out of the United States. The All Ordinaries Index (XAO) lost 28.7pts or 0.7pct to 4373.6, but came off earlier lows, following data which showed China unexpectedly reported a trade surplus in March. This stoked optimism that the People's Bank of China won't need to cut rates in order to stimulate growth.

The dollar is down a bit and demands for commodities have generally eased down, according to major mining players, prompting many economists to suggest that Australia's surge of investments had reached the inevitable limits.

The competition watchdog has cleared the way for Foxtel's $2-billion proposal to fully acquire its Pay TV rival Austar but with explicit limitations that the Australian Competition and Consumer Commission (ACCC) stressed should safeguard competition in the industry.

Australian employers and unions are at odds over a proposal by companies to change workplace flexibility and pay. Among the changes eyed are cutting minimum working hours and pay.

Tourism industry executives blamed the strong Australian dollar for the slump in tourism revenues as foreign visitor spending declined to a four-year low of $2.63 billion in February.

Acting on a ban by the European Commission, the United Kingdom has issued a moratorium against the technique of stripping meat from animal bones, raising concerns over the future of cheap patties and burgers.

Retailers are looking to Easter sale season for some sort of resurrection following solid indication that more and more consumers shied away from the shopping scene during the Christmas holiday shopping spree.

Business executives deserve huge pay considering huge responsibilities on their hands and the risks that come with the job.

The Australian share market has started the final day of the shortened trading week on a negative note, as profit takers move in ahead of the Easter break and following weakness on offshore markets overnight. US and European markets retreated following a disappointing Spanish bond auction and as investors anxiously debated what markets would look like without more stimulus from the US Federal Reserve. In early trade on the local market, the All Ordinaries Index (XAO) is down 34.5pts or 0.8pct to...

Australia's exports declined 2 per cent in February which contributed to a trade deficit of $480 million. It is the second largest trade deficit for the country since early 2010.

The local share market has followed Wall Street into the red, with the All Ordinaries Index (XAO) down 17.3pts or 0.4pct in early trade to 4407.1.

Even if BHP Billiton Mitsubishi Alliance (BMA) produces about one fifth of the global supply of seaborne coking coal, its declaration on Monday of a force majeure would have limited impact on coking coal prices, analysts said.

The mining construction boom in Queensland will end as early as 2014, BIS Shrapnel forecast on Wednesday.

The Australian retail sector registered flat movements in February, paving the way for miniscule growth that analysts said were reflective of market's expectations but not as ominous as the figures showed.

Grocery wholesaler Metcash Ltd has revealed fresh consolidation moves that it said would prepare the company for the future but would unfortunately lead to hundreds of job losses.

About half of companies in Sydney have changed their business hours due to the heavy traffic in the city. Over 30 per cent also extended delivery hours to meet deadlines.

Qantas Airways and Jetstar will increase their ticket prices because of their higher aviation fuel bill.

The local share market has started the new trading week, month and quarter on a positive note thanks to strong gains offshore on Friday night and better than expected Chinese manufacturing data. The All Ordinaries Index (XAO) hit a high of 4460.7pts in early trade but has come off that slightly at lunchtime in the East and at 12.15pm AEST is firmer by 18.1pts or 0.4pct to 4438.1.

State-owned Chinese oil company PetroChina announced this Thursday that it pumped 2.4 million barrels of oil per day last year - overtaking Exxon Mobil's 2.3 million bpd to be the world's largest publicly traded producer of oil.

Hardware chain Bunnings Warehouse announced on Friday that it would create 6,000 jobs in Australia over the next three years as part of its $1.5-billion expansion plan. That would involve the setting up of 85 new stores across the country which would also create more than 11,500 construction jobs.