Christine Gaylican

Three substantial economic developments announced in quick succession Wednesday morning, including efforts from several central banks to shore up the global financial system, prompted global stock markets to soar and sent the Dow Jones Industrial Average up by more than 400 points. Central banks around the globe announced a coordinated plan to make dollar funding cheaper for European banks.

MORNING REPORT (7.30am AEDT) The world´s major central banks acted jointly on Wednesday to provide cheaper US dollar liquidity to European banks. The surprise emergency move included the US Federal Reserve, the European Central Bank, and the central banks of Canada, Britain, Japan and Switzerland.

Greater accountability and better fiscal management are needed to achieve more inclusive growth in developing Asia-Pacific nations, Asian Development Bank (ADB) President Haruhiko Kuroda said on Wednesday.

Minmetals Resources Limited (HKSE:1208) ("MMR") has appointed mining industry stalwart Anthony Larkin as an independent non-executive director of the company to further strengthen the board's project risk assessment capabilities.

Korea's Samsung had won the first legal battle against Apple Inc. as an Australian court overturns the decision disallowing the sale of the Galaxy tablet in the country on Wednesday.

Mindoro Resources Ltd (TSX VENTURE: MIO) (ASX: MDO) (FRANKFURT:WKN 906167) announced that it has received commitments for C$1.2 million in Australia under its Private Placement which was announced on 22 November 2011. Trading of the Company's CDIs on the ASX will re-commence today. The Lead Manager of the Australian component of the Private Placement is DJ Carmichael Pty Ltd based in Perth.

In reading the biography of "Steve Jobs" written by Walter Isaacson one gets to grasp the man is no god, he was quite human in all aspects that some readers would actually be disappointed of the truths revealed.

Grain growers in Western Victoria are advised to be vigilant in fighting off the extent of snail contamination that could hamper grain harvests this season.

Bell FX Currency Outlook: The Australian Dollar traded below 0.9700 on Friday as European sovereign debt issues continued to dominate the market's attention but has regained lost ground early today.

U.S. stocks eased lower Friday, capping the Dow Jones Industrial Average's worst Thanksgiving week performance since markets began observing the holiday in 1942.

MORNING REPORT (7am AEDT) Italian retail sales fell by 0.4pct in September - the fifth straight decline. French consumer confidence fell from 82 to 79 in November.

Rio Tinto and Chinalco joint venture (JV) for exploration in China - Chinalco Rio Tinto Exploration Co. Ltd. (CRTX) - has been officially registered as a business in China.

The Federal Government's announcement on Friday that it plans to introduce retrospective legislation to reverse consolidation tax laws rolled out only last year, further erodes the integrity of the tax system, The Tax Institute said.

Bell FX Currency Outlook: The Australian dollar traded near a seven week low during yesterday's session as ongoing concerns over the European and US situation weighed.

Bell FX Currency Outlook: The Australian dollar is lower again this morning as investors continue to pour into the traditional "safehaven" of the USD.

From Craig James, Commsec Chief EconomistMORNING REPORT (8am AEDT) US jobless claims rose by 2,000 to 393,000 in the last week. The 4-week moving average of claims which is a better gauge of labour market trends fell to the lowest levels since April. US consumer sentiment rose from 60.9 to 64.1 in November. The most improved aspect was that consumers anticipated healthier jobs growth.

From Stan Shamu, Markets Strategist, IG MarketsGlobal markets extended their losses overnight on deepening concerns about the European debt crisis, after a poorly-received German debt sale. Germany failed to find buyers for 35% of the bonds it offered at an auction. There was also a swathe of disappointing economic data, with European services and manufacturing output shrinking for a third month, US durable goods orders falling and unemployment claims topping forecasts.

TV reality sensation Kim Kardashian has signified interest to purchase property in Dubai after her recent visit to the UAE with mom Kris Jenner. Will it be a good investment for Kim? Ibtimes.com.au tries to scrutinize the property investment scenario for the Kardashians in Dubai.

Aussie business owners' dissatisfaction with the Federal Government has soared to a three year high with the majority of Aussie SMEs (56%) now dissatisfied, up from 31% in August 2010. This is the highest dissatisfaction level recorded by the Business Monitor since June 2008, accprding to the latest research from the MYOB Business Monitor Special Report released on Wednesday.

Prime Minister Yingluck Shinawatra has assured the public the name of her brother Thaksin is not on the list to be endorsed for pardon this year.

Bell FX Currency Outlook: The Australian Dollar has fallen further and is trading at USD 0.9835 as persistent concerns about the Euro Zone's sovereign debt crisis create more uncertainty in global financial markets.

From Craig James, Commsec Chief EconomistMORNING REPORT (8am AEDT) The second estimate of US GDP was revised down from 2.5pct to 2.0pct. The downward revision reflected a cut in inventories and lower investment spending. US ICSC chain store sales rose 2.8pct last week compared with a year ago. ICSC research expects same store sales to rise 3.5pct-4pct in November. The Richmond Fed manufacturing index improved from -6 to 0 in November.

From Stan Shamu, Market Strategist ( IG Markets)Global markets extended their losses overnight on concerns that European leaders are running out of options to solve the debt crisis. This sent French and Italian yields higher yet again. In the US, market weakness was triggered by slower-than-expected GDP data in the third quarter. The revised number came in at 2% after an initial estimate of 2.5%. However, losses were pared on news that the Federal Reserve and International Monetary Fund may...

The Australian government has assured mining companies and opposing sectors their demands will be met in the final version of the proposed mining tax bill.

The Southeast Asian games in Indonesia has been marred by the accidental death of two civilians, while 10 were hurt and hospitalized, as a result of a stampede that broke off after some disgruntled fans set fire to two ticket booths.

Australia's leading Internet venture fund, Future Capital Development Fund (FCDF) has announced it has invested in another Internet company, TheAgendaDaily.com ("Agenda") - a hybrid media / commerce business which successfully offers customers engaging daily recommendations alongside exclusive member only sales.

From Craig James, Commsec Chief EconomistUS existing home sales rose by 1.4pct to an annual rate of 4.97 million in October. Economists had expected sales to fall to a result near 4.80 million. The National Association of Realtors said that the proportion of distressed sales eased from 30pct to 28pct. Home prices are down 4.7pct on a year ago. And the inventory of homes fell from 8.3 months to 8.0 months.

From Stan Shamu, Market Strategist, IG MarketsGlobal markets declined overnight after US lawmakers failed to reach a deficit-cutting agreement. This failure to act is magnifying the European debt issues that investors are currently trying to deal with. Moody's came out to say that rising French government borrowing costs and an uncertain economic position continues to pose a threat to the outlook for France's AAA credit rating. This confirms what most investors have feared for a while....

Bell FX Currency Outlook: Risk aversion was the flavour of the trading session last night as concerns briefly shifted from Europe to the US as their deadline for deficit reduction looms.