Christine Gaylican

What is behind Google's thinking and what kinds of outcomes can we realistically expect?

Atlas Iron Limited (ASX Code: AGO) has announced a 50 percent increase in its direct shipping ore (DSO) reserves, to 79.3 metric tons at 57.8% Fe, from its North Pilbara Projects.

The protest staged by some airport workers across the country have not caused major flight delays and disruptions in the Sydney and Brisbane airports, reports said.

Business sales figures across Australia posted disappointing numbers in July, according to a survey done by Commonwealth Bank on 200,000 merchant facilities.

MARKET CLOSE (4.30pm AEST)The Australian sharemarket lost ground for the second time this week, with the ASX 200 index (XJO) falling 1.2 pts or 52.7 pts to 4251.2 while the broader All Ordinaries index (XAO) dropped 1.2 pct or 52.4 pts to 4319.4. This takes the falls for August so far to 4 pct.

Australians who make excess concessional contributions to their superannuation may benefit from changes announced by the government Thursday.

Australia's small and big banks have cut down the term deposit rates of their bank products, which could discourage consumers from hoarding cash and explore other investment options.

Hundreds of new jobs will be created with the planned expansion of CSL's manufacturing facility in Victoria, Australia.

MARKET CLOSE (4.30pm AEST)The Australian sharemarket pulled back in the second half of trade to wipe out a portion of yesterday's stellar gains. The ASX 200 index (XJO) fell 0.8 pct or 35.6 pts to 4247.3 while the broader All Ordinaries index (XAO) dropped 0.7 pct or 29.5 pts to 4317.3.

One of Australia's most wanted men, who allegedly strapped a fake bomb on the neck of an 18-year-old, has been arrested in Kentucky, U.S. authorities said.

After announcing an expansion into Asia, Qantas Airways will be facing a government investigation over job losses at home.

MARKET CLOSE (4.30pm AEST)The ASX 200 index (XJO) rose 2.6 pct or 110.3 pts to 4282.9 while the broader All Ordinaries index (XAO) is up 2.6 pct or 108.9 pts to 4346.8. All sectors managed to post solid gains today, with the energy and mining sectors leading the way.

Australia's manufacturing firm Manassen Foods has been reported negotiating a deal with China's second largest food company Bright Food Group Co.

Australia's central bank is again under pressure as to how it will play the key benchmark key rates in the near term as unemployment and inflation rates rose in recent weeks.

It was another interesting session on the Australian share market, as investors reacted to fresh sovereign debt worries out of Europe and a surprise rise in the local unemployment rate. The All Ordinaries Index (XAO) fell 1.5pct on open, outperforming near 5pct losses witnessed on Wall Street overnight.

Across Asia, regional markets are mixed following the wild ride in overnight equity markets that saw the US and European indices close sharply lower. After larger falls on the open, the major indexes have rallied to be trading well off their lows. The Shanghai Composite and Kospi are the best performers, up 0.4% and 0.3% while the Hang Seng and Nikkei 225 are both down 1.2%.

Australia's economy generated more part-time jobs in the month of July rising 22,100 to 3.40 million, emphasizing the state of local firms that are not woven within the industries of the mining sector.

MARKET CLOSE (4.30pm AEST)Well after the strangest of days for the Australian market yesterday, shares locally improved strongly for the second consecutive day. The ASX 200 index (XJO) rose 2.6 pct or 106.5 pts to 4141.3 while the broader All Ordinaries index (XAO) jumped 2.7 pct or 110.7 pts to 4207.4. This takes the gains for the week to just under 1 pct so far.

MIDDAY REPORT (12.30pm AEST)The Australian sharemarket is gaining for the second straight day, with the All Ordinaries index up 2.9 pct or 117.1 pts to 4213.8. Almost all sectors are higher with the exception of the property trusts, which are slightly lower at lunch.

MARKET CLOSE (4.30pm AEST)The Australian sharemarket had a dramatic trading Tuesday as stocks staged an amazing comeback with the ASX 200 index (XJO) up 1.2 pct or 48.7 pts to 4034.8 while the broader All Ordinaries index (XAO) rose 1 pct or 40 pts to 4096.7.

MIDDAY REPORT (12.30pm AEST)The Australian sharemarket is currently trading at its lowest level since July 2009, with the All Ordinaries index (XAO) down 4.5 pct or 181.4 pts to 3875.3. The major U.S and European markets tumbled significantly overnight, leaving us with a negative lead too difficult to shrug off.

Australia's two large banks, the Commonwealth Bank (CBA) and Westpac (WBC), have cut back its fixed home loan rates without waiting any further for the central bank's next move.

The Australian Bankers' Association (ABA) has criticized the planned initiative by the Greens Party to put a cap on ATM fees that can be charged by banks, which may result to pass on fees to customers if pursued by Parliament.

National Australia Bank's direct asset management business, NabInvest, has announced it has acquired a 35 percent equity in AREA Property Partners (AREA), a global real estate fund manager based in New York.

The National Australia Bank was able to deliver earnings in the June quarter as local and affiliate banks from offshore locations have contributed to business growth in spite the difficult conditions.

AFTERNOON REPORT (5.20pm AEST)Stocks around the Asian region fell further into the red today as investors reacted to the decision by ratings agency Standard and Poor's to downgrade the long-term credit rating of the United States from AAA to AA+. Investors and traders remained on edge despite the Group of Seven industrial nations pledging a coordinated effort to ensure financial markets have enough liquidity.

The Australian share market staggered deep Monday, breaching the safe range of 4000 as investors opted to sell and in spite assurances that the Asia-Pacific markets are yet to feel the immediate impact on its sovereign ratings.

The number of job advertisements published on Australia's newspapers and online fell 0.7 percent in July seasonally adjusted terms compared with June.

Across Asia, regional markets are getting hammered after the plunge that was seen in world markets overnight. Participants are becoming very fearful of a global economic slowdown, led by the likes of Europe and the US as they succumb to their enormously high debt levels. The Hang Seng is the worst performer, down 4.9% while the Nikkei 225, Kospi and Shanghai Composite are all down between 1.9% and 3.6%.