POLITICS & POLICY

Bell FX Currency Outlook: The Australian Dollar has started the week's trading at similar levels to the end of last week's with no major announcements occurring over the weekend.

Like his federal counterpart, Opposition leader Tony Abbott, Victorian Premier Ted Baillieu said on Sunday that Liberal MPs in the state would not be allowed a conscience vote on a same-sex marriage bill introduced by Greens MP Sue Pennicuik in June.

Federal Treasurer Wayne Swan stood firm on his earlier pronouncement that ‘cranks and crazies’ within the U.S. Republican Party would likely threaten the global economy.

The proposed data retention scheme is mainly focus to provide police agencies of clear back picture of crimes committed, Attorney-General Nicola Roxon said in a letter forwarded this week to the joint parliamentary committee.

Disgraced Chinese politician Bo Xilai could soon face court trial following revelation of details this week that he knew of the murder committed by his wife, Gu Kailai, but elected not to do anything.

Australian Prime Minister Julia Gillard will address the United Nations General Assembly next week. She would deliver her address while attending the opening of the 67th session of the General Assembly. She will be in New York from Sept 23 to 27.

Amid falling prices of commodities in the world market and slowing exports, resource-rich nation Australia will continue to enjoy economic growth, the International Monetary Fund (IMF) said on Thursday.

Since first announcing in May that it will hold some $80 billion on supposed programmed projects, BHP Billiton Ltd. had been in a roll on supporting that claim as it declared cancellation after cancellation of high-ticket projects.

Chief opposition whip Warren Entsch would like to try out his proposed civil partnership bill, which he believes will extend legal recognition to all Australian unions, irrespective of the gender and sexual orientation.

U.S. oil and gas producer Chevron Corp announced its Australian subsidiary, Chevron Australia, has uncovered more natural gas in its Carnarvon Basin, in the greater Gorgon area, off the coast of Western Australia.

China vowed to investigate the incident involving Chinese protesters and the diplomatic car of U.S. Ambassador to China Gary Locke on Tuesday, with international media reports indicating that the vehicle was swarmed and harassed by street demonstrators.

Some iPhone 5 enthusiasts are very unhappy with Samsung’s latest mock-the-Apple-fans campaign. Other observers have had enough of the hype. And then the rest just keeps on reading, spreading and creating funny memes about Samsung Galaxy S III and Apple iPhone 5.

Pilots of Virgin Australia have thumbed down a Enterprise Bargaining Agreement (EBA) offered by the airline management.

It is back to one bidder for troubled Australian surfwear retailer Billabong International.

U.S. stocks eked out slight gains Wednesday, supported by strength in the housing sector, as energy stocks dragged the market lower with oil futures tumbling. The Dow Jones Industrial Average (DJI) closed up 13.32 points, or 0.1^*1, at 13,577.96, led by shares of Walt Disney Co. (DIS) and Home Depot Inc. (HD).

Bell FX Currency Outlook: The AUD still remains firm as continued stimulus from around the world provides the AUD with a yield advantage.

Clarence House announced on Wednesday that Prince Charles and wife Camilla will visit Australia, New Zealand and Papua New Guinea in November. The couple's trip, part of Queen Elizabeth's Diamond Jubilee celebrations, will be from Nov 3 to 16.

It was both a dark and bright day for gays and lesbians in Australia on Wednesday as Parliament rejected the same-sex marriage bill, while Liberal Senator Cory Bernardi resigned as parliamentary secretary for derogatory remarks he made against gay marriages.

Western Australia's first uranium mine project, five years after a ban was lifted that constricted uranium mining in the area, has received new and stricter environmental conditions from an independent appeals committee.

It seems prices of key steelmaking ingredient iron ore has seen better days, and is now nearing its glorious end.

Canadian mineral exploration company Pacific Wildcat Resources Corp. (PAW) has sold its Muiane Tantalum mine assets in Mozambique to Muscadine Ltd.

In light of the rising incidence of insider attacks in Afghanistan, NATO announced on Tuesday a temporary and selective ban on joint operations with members of the country’s government security forces.

The U.S. International Trade Commission (ITC) is set to undertake an investigation lodged by Japanese maker Hitachi Metals Ltd. against a group of 30 companies which the latter alleged imported and sold goods that infringed the technology patent of its sintered rare earth magnets.

After an independent review of the Fair Work Act, Workplace Relations Minister Bill Shorten is seeking feedback from the states on a proposal to limit penalty rates to 11 Australian public holidays.

Amidst serious budget concerns from both Labor and Coalition lawmakers, Prime Minister Julia Gillard is likely to grant federal subsidies of around $1.4 billion each year that will finance higher pay for private childcare workers.

Shares of Macmahon Holdings Ltd. fell deep on Wednesday morning after the Australian construction and mining firm announced it is cutting into half its full year earnings estimate guidance for 2012-13 and that its chief executive, Nick Bowen, has resigned.

Bell FX Currency Outlook: The Australian Dollar is relatively unchanged this morning as markets continued to consolidate recent moves in what was essentially a quiet session overnight.

The Dow Jones Industrial Average rebounded to eke out a narrow gain Tuesday, though most stocks finished lower as investors digested a downbeat earnings forecast from economic bellwether FedEx. The Dow rose 11.54 points, or 0.1%, to 13564.64, climbing for the fifth time in six sessions and bouncing back from Monday's 40-point decline.

Labor is basking on what looked like a second wind that can be used to propel its chances come the 2013 federal election, and the man, Kevin Rudd, the party caucus had ousted in 2010 is joining in the fun.