POLITICS & POLICY

The 2011 Fukushima nuclear accident in Japan may have spooked the uranium mining sector, forcing even some nations to forego nuclear programs in light of its effectiveness, safety and efficiency, but these factors will not permanently kill nuclear power.

The high cost of electricity in Australia was mainly due to state governments’ move of generating revenues from power generators, which according to Prime Minister Julia Gillard were operating burdens eventually shouldered by consumers.

Chinese employees working for publicly-traded companies may now have the option to receive their take home pay in the form of stock options from the shares of their companies as the federal government mulls to reinvent the country's overall wage structure to help lift investor confidence in the local stock market.

Bell FX Currency Outlook: The AUD is relatively unchanged this morning, currently trading at USD1.0560, ahead of the RBA's interest rate meeting today.

Prime Minister Julia Gillard sought on Tuesday an overhaul of Australia's electricity supply market amid observations of the swift rise in power prices which states and the Opposition blame on the one-month old carbon tax.

The failure by the timber industry and environmental groups to reach an agreement on Monday would result in the Tasmanian government stepping in to resolve the impasse. The battle over the largest temperate rainforest in the region has extended to mining in the Tarkine wilderness.

For the fourth month in a row, Australia's labour sector notices and advertisements in newspapers and on the Internet continued to decelerate.

The Philippine government has suspended the operations of its largest gold mine, the Padcal facility, following last week's waste spillage.

World prices of commodities will continue to be dependent on China's economic growth, regardless whether its economy is a slowed down or not.

Judging from the number of Chinese investments that have been sealed this year, Australia it seems had ceased to be China's favorite mining destination.

The Liberals in Canberra promised to repeal the Australian Capital Territory (ACT) ban on free plastic bags if they grab the territory's political leadership after the October ACT polls. The position is a U-turn from the previous stand taken by the Libs in 2004.

Opposition Leader Tony Abbott has accused the Gillard Government of attempting to silence a critical media simply because it could not handle harsh words that highlighted what he claimed as failed policies of Prime Minister Julia Gillard.

Economists forecast lesser chances of another overnight cash rate cut by the Reserve Bank of Australia (RBA) when it sits down on Tuesday for its regular monetary board policy rate meeting.

The Tasmanian government heeds the signs of the time on efforts to legalise gay marriage in the state, according to Premier Lara Giddings, who on Saturday described her administration’s support for the proposed laws as “a very proud moment for all of us.”

It is likely that Australia will experience yet again the weather phenomenon El Niño in the coming months.

Leading Cairns figures lauded the federal government for picking out the Queensland city as the official site to host the G20 finance ministers gathering in 2014, with Prime Minister Julia Gillard expressing confidence that she made the right choice.

Stocks surged Friday, with the Dow industrials jumping to a three-month high, after U.S. nonfarm payrolls rose more than expected in July. The Dow Jones Industrial Average climbed 217.29 points, or 1.7%, to 13096.17, its biggest percentage increase since late June.

Bell FX Currency Outlook: The Australian Dollar has maintained its firm tone this morning, after US jobs data on Friday night were higher than expected, fueling a jump in major equity indices in Europe and the US.

A Coalition federal government would impose tougher measures on foreign investments based on plans outlined in the discussion paper unleashed by Opposition Leader Tony Abbott on Friday.

The world's production of iron ore, the key ingredient for making steel, despite continued slump of prices, has achieved an all-time high production record in 2011, according to a latest July report of the UN's Conference on Trade and Development (UNCTAD).

Canada-based Ivanhoe Mines has changed its name and will now be known as Turquoise Hill Resources Ltd. The new name, which was approved at the company's annual meeting on June 28, 2012, had gone into effect.

Continuing labor problems, coupled with lower global prices of commodities and difficulties associated with the weather, at its Australian coking-coal subsidiary have taken its toll on the overall net profit of Mitsubishi Corp. for the first quarter.

Bell FX Currency Outlook: The local unit has openedlower after a volatile session as more rhetoric and no firm action from the ECB left markets disappointed.

MORNING REPORT (6am AEST)US initial jobless claims edged up by 8,000 to 365k in the final week in July. The 4-week average of jobless claims - a better indication of the underlying trend in the labour market - eased modestly to 365,500. US factory orders fell by 0.5pct in June, well below expectations for a 0.5pct rise. Orders for non-defence capital goods excluding aircraft - seen as a measure of business confidence and spending plans - slipped 1.7pct in June.

The Opposition had admitted that it would take them some time to repeal the carbon tax if the Coalition wins the 2013 election in Australia. That means despite the promise by Coalition leader Tony Abbott, Australian businesses would be paying the carbon price of $23 per tonne, which is passed on the consumers, at least for another 12 months.

China had recovered some 1,000 tonnes of illegally mined rare earths in two separate police crackdown operations last week as it continued to intensify and strengthen the management of the sector. At least 50 individuals were detained because of the operations.

Fair Work is generally working and living up to expectations save for some rooms for improvements, according to an assessment report issued on Thursday by the government review panel.

Cats and kittens have been "speaking up" on Facebook, thanks to funnymama.com and other meme-focused websites spreading some cat lovin' on the web. Cats can be so cold, defiant and snooty. Yet in spite of their stuck-up "attitude," these felines can be so adorable. See some of the funniest and cutest cat photos in the accompanying slideshow.

The Labor government is cold to suggestions that Australia needs to accommodate long-term presence of U.S. nuclear strike force group within its borders, in the northwest region specifically.