POLITICS & POLICY

It was too much of a price to pay, as the decision to offload the Dick Smith electronics chain business had dragged full-year net profit of Woolworths Ltd, Australia's largest supermarket chain, down by 15 per cent from a year ago.

In what could be a firm testament to Australia's mining regime deceleration, another buyout acquisition has turned pffft.On Friday, Whitehaven Coal Limited announced that major shareholder electrician-turned-mining magnate Nathan Tinkler and his Tinkler Group is no longer interested in pursuing a takeover bid for the company, worth $5.2 billion or $5.20 cash per share.

Many of the green-on-blue attacks on NATO forces serving in Afghanistan could be the direct handiworks of Taliban insurgents, according to a U.S. marine general supervising the operations of coalition troops in the war-torn country.

The Dow industrials fell the most in more than a month Thursday amid mounting doubts about the prospect of more stimulus from the Federal Reserve and concerns about the sustainability of the market's summer gains. The Dow Jones Industrial Average gave up 115.30 points, or 0.9%, to 13057.46, its biggest drop since July 20

Bell FX Currency Outlook: US Fed Stimulus hopes take a back seat as concerns over the health of the domestic mining industry, and weaker Chinese data weigh on the Australian dollar.

Fairfax Media Ltd., Australia's second largest newspaper publishing firm, has reported an annual net loss of A$2.8 billion ($2.9 billion). A domino effect immediately ensued among investor, sending shares to plummet 5.3 per cent to 53.5 AU cents, its most in two months.

With prices of thermal coal in the international market almost hitting rock bottom, consuming nations such as power crisis stricken India are expected to jump on the opportunity to increase its imports of the raw commodity.

Succumbing to global pressure, China, the world's hub of rare earths, has moved to increase its self-imposed export quota on the precious elements essential to making hybrid vehicles and key household appliances as well as other hi-tech applications.

In what could be a sign of continued investor confidence despite the slackening resource boom, Australia opens to the public today the very first retail concept store of Samsung in the country, and along with it, the much anticipated Samsung Galaxy Note 10.1 tablet computer.

Australia's flag carrier QANTAS Airways has withdrawn orders for 35 new Boeing 787 Dreamliner aircraft in a bid to cut payable responsibilities following a A$245 million ($257 million) annual loss in profits.

David Jones Ltd, Australia's No.2 department store chain and rival to Myer, reported total sales in its Financial Year (FY12) has dropped 4.6 per cent from a year ago.

U.S. stocks erased earlier losses to finish the day roughly flat, as investors rode hopes that the Federal Reserve may act again to stimulate the economy. The Dow Jones Industrial Average ended Wednesday's session off 30.82 points, or 0.2%, at 13172.76, after falling as many as 83 points earlier in the session.

Sex Discrimination Commissioner Elizabeth Broderick said on Wednesday that the present atmosphere in Defence would not allow women to flourish within the organisation. To change this, she made 21 recommendations when she submitted her final report to the federal government.

Bell FX Currency Outlook: The Australian Dollar is currently trading around USD1.0500 as comments from the Federal Reserve during last night's offshore trading session boosted optimism in the markets and offset the glum feeling out of Europe.

Australian public service unions are against a proposal by the Coalition to outsource federal jobs to state governments. Community and Public Sector Union National Secretary Nadine Flood warned of the danger of reversion to a 1980s policy which could result in axing of thousands of federal jobs.

Support by the Australian Capital Territory (ACT) Greens led the passing on Wednesday night by the territory's Legislative Assembly of the same-sex union bill after a long debate.

All in the same plate, only different viands. But no matter, Australia could still very much capitalize on China's growing interest on its agriculture sector as the latter once had on its resources sector.

After weeks of dilly dallying and speculative talks, global miner BHP Billiton has finally dropped the bomb and confirmed it is dropping all plans on the supposed $30 billion expansion of the Olympic Dam copper and uranium mine mega project in South Australia.

Spot prices of key steel-making ingredient iron ore have been forecast to gain as much as 39 per cent in the fourth quarter of the year, spurred by a possible renewed buying spree from China and reversing the fall in demand in the last first two quarters.

Australian legislators called for an independent probe Wednesday to sort out allegations that the senior executives of the country’s central bank tried to cover up the note-printing scandals that rocked the Reserve Bank of Australia (RBA) in mid-2009.

Seven West Media Ltd, Australia's largest locally listed media company, said its takeover by West Australian Newspaper Holdings in 2011 has helped lift its first full year net profit to $226.9 million, up by 97.1 per cent over the previous year's $115.1 million.

Three decades from now, the world's financial activity may very well be managed and controlled by the richest people from Asia.

The New South Wales government ended on Tuesday its one year impasse with the Shooters Party over amendments to the state government's anti-graffiti legislation.

Prime Minister Julia Gillard was completely clueless of the alleged nefarious activities of her former partner, then Australian Workers Union boss Bruce Wilson, 17 years ago. Mr. Wilson, on the other hand, claims that they were backed by her former employers at Slater & Gordon law firm.

The emerging El Niño weather pattern that Australian scientists have been closely monitoring could prove beneficial to the country's sugar cane growers in Queensland, according to a senior forecaster.

U.S. STOCK MARKETSThe Dow finished with its biggest decline in almost three weeks Tuesday, falling for the second session in a row after knocking on the door of multiyear highs early in the session. The Dow Jones Industrial Average fell 68.06 points, or 0.5%, to 13203.58, its sharpest drop since Aug. 2.

Bell FX Currency Outlook: The Australian Dollar is relatively unchanged this morning, currently trading at USD1.0470 as low trading volumes make it hard for the AUD to hold onto the gains experienced following the RBA's release yesterday.

Tony Abbott is convinced he is a ‘modern man’ as he parried accusations from Labor ministers that he behaves quite differently when dealing with female colleagues at the Parliament.

Philippine government officials confirmed on Tuesday that the body of the country’s interior ministry chief, Jesse Robredo, has been retrieved from the wreckage of the private plane that crashed Saturday afternoon in seawaters located south central of the Philippines.