Christine Gaylican

AFTERNOON REPORT (12pm AEST)The Australian share market has fallen to its lowest level since July 2009 in early trade. Overnight European share markets slumped to 11 month lows on continued worries about European sovereign debt, while US stocks recorded their biggest one day decline in two and a half years. At lunchtime in the East, the All Ordinaries Index (XAO) is down 187.8pts or 4.3pct to 4165.1.

In a more straightforward and realistic stance, Australia's central bank has slashed down its economic growth forecast for the country as the imminent play of global market forces turned for a more shaky turn during the week.

The national construction industry remained in the doldrums in July with further declines in activity, employment and new orders. The latest Australian Industry Group Australian Performance of Construction Index (Australian PCI®) in conjunction with the Housing Industry Association, rose just 0.3 points to 36.1. It was the 14th consecutive month of contraction for the sector (readings below 50 indicate a contraction in activity).

AFTERNOON REPORT (4.30pm AEST)The local share market came under more selling pressure today, falling to 13 month lows as investors fretted over the health of the global economy and as a fall in tourism arrivals showed our strong dollar is continuing to have a negative impact on parts of our economy. Key US jobs data due out tomorrow night also kept many out of the market, with institutional buyers not willing to commit until it's clear how many jobs the world's biggest economy added i...

Australia has earned the new title "Next Golden State" for all the right reasons. However, is the mining sector boom benefiting all or just a few?

Australia's biggest gold producer Newcrest Mining Ltd (ASX: NCM) has reported that nine of its staff were killed in a helicopter incident in Indonesia on Wednesday.

Australia's services sectors offering accommodation, cafes & restaurants, transport & storage, property & business and personal & recreational service have recorded gains in July, according to the latest services index survey from the Australia Industry Group in collaboration with the Commonwealth Bank.

Australia's Reserve Bank has opted to hold interest rates for another month, which will extend more relief to the economy now treading a soft patch to full recovery.

This year's MTV Music Awards will be graced by the performance of soul queen Adele, rap royalty Lil Wayne and R&B singer Chris Brown.

Higher consumer prices in the last three months were posted in Australia and this has been indicated in the July inflation index compiled by TD Securities Inc. and the Melbourne Institute released in Sydney on Monday.

US StocksU.S. stocks fell Friday and posted the biggest weekly decline in a year, as a blur of debt-ceiling developments left the market uncertain over the course of Washington's deadlocked negotiations. The Dow Jones Industrial Average closed down 96.87 points, or 0.79%, at 12143.24, in a volatile session that extended the index's losing streak to six straight sessions. All but two of the 30 Dow components finished in the red.

MORNING REPORT (7am AEST)The US economy grew at a 1.3pct annual pace in the June quarter, weaker than forecasts centred on a gain of 1.8pct. In addition March quarter GDP growth was revised down from 1.9pct to 0.4pct.

MIDDAY REPORT (11.45am AEST)The local share market is slightly weaker at lunchtime in the East, as the stalemate over the US debt crisis continues. A vote on the Republican plan to raise the US debt ceiling in the House of Representatives has been delayed. The All Ordinaries Index (XAO) is down 7.6pts or 0.2pct to 4531.6.

AFTERNOON REPORT (4.30pm AEST)Ongoing concerns about the US debt crisis saw markets around the Asian region heavily sold off again today. Investors remain concerned that even if US lawmakers come to an agreement over the raising of the debt ceiling, the US could still have its AAA credit rating downgraded. Japan's Nikkei index eased by 1.6pct today while the All Ordinaries Index (XAO) fell 73.4pts or 1.6pct to 4539.2 while the S&P/ASX 200 Index (XJO) eased by 73.6pts or 1.6pct to 4463.8....

Origin Energy Limited (ASX: ORG) and American partner ConocoPhillips has announced the approval of the $20 billion funding required in its liquefied gas project in Australia that targets to supply the Asian Region.

MIDDAY REPORT (12.15pm AEST)Local stocks are under heavy selling pressure in early trade, following another slump in US equities overnight and falls on the commodities markets. Wall Street recorded its biggest one day fall in nearly two months as the stalemate over raising the US debt ceiling continues. At lunchtime in the East, the All Ordinaries Index (XAO) is down 50.6pts or 1.1pct to 4562.

Owners and managers in Australia are warned of cyber security risks and are advised to take the necessary measure to protect their businesses from hacking.

AFTERNOON REPORT (4.30pm AEST)Higher than expected inflation data, coupled with the ongoing stalemate over the US debt crisis, saw local stocks lose ground today. White House officials are still confident a deal to raise the US government´s borrowing power will be agreed upon before the August 2nd deadline, however the worry now is that the US could still have its AAA credit rating downgraded.

Industry groups in Australia have expressed concern as the value of the local currency surges pass the usual parity against the U.S. dollar. Is the rising Australian dollar a blessing or a curse to the domestic economy?

Consumer prices for food, clothing, and services in Australia have risen in June, triggering a record-high for the country's currency.

AFTERNOON REPORT (4.30pm AEST)Local stocks rebounded today, despite an impasse over the US debt crisis. US President Barack Obama today urged the Republicans to come to a compromise over the deadlock, which needs to be finalised before August 2nd or the US government will default on its debt repayments for the first time in history. Overnight, US and European markets fell, however investors bought back into local stocks which were heavily oversold yesterday. The All Ordinaries Index (XAO) r...

Should Australia have tighter privacy laws to avoid a similar phone hacking scandal involving the media? Treading on press freedom and creating policies to protect individual privacy are delicate issues that government authorities and law makers are assessing amidst the phone hacking issue in the United Kingdom involving News Corp owned by Rupert Murdoch, serving as a test case for media organizations in the country.

Australia will provide a $20 million in additional humanitarian support for the 11.6 million people affected by the looming catastrophe in the Horn of Africa.

Banks in Australia will be put to a test by the contagion of a looming global financial crises spiraling from Europe to the United States now facing a politically charged debt crisis.

AFTERNOON REPORT (12pm AEST)The local share market is trading higher at lunchtime in the East, despite a negative offshore lead on continued worries over the US debt crisis. US President Barack Obama has addressed his nation within the last hour, telling Americans Democrats and Republicans have still not agreed on a solution to stop the government from defaulting on its debt repayments ahead of the August 2nd deadline. However, local stocks, which were heavily oversold yesterday, are today ...

An innovative, Australian-first electronic logbook system that is set to modernize and transform company tax reporting is about to launch into the Australian market.

Consumers are given better access to lower-priced internet service, according to Minister for Broadband, Communications and the Digital Economy, Senator Stephen Conroy citing one of the key benefits of the National Broadband Network (NBN) network.

In accordance to Jewish family tradition, the late pop diva Amy Winehouse will be laid to rest on Tuesday, 26 July after an inconclusive autopsy, a family spokesman said.

MIDDAY REPORTLocal stocks have started the trading week in the red, after US leaders failed to agree on a deal to raise the government's borrowing power, or so-called "debt ceiling" before the August 2nd deadline. The debt ceiling is currently at $14.3 trillion, and the Democrats want it increased by $2.4 trillion in order to meet legal obligations, such as Social Security and Medicare payments. The Dow Futures is pointing to a negative start for Wall Street following the gridlock o...