Sharon Olalia

The Australian Dollar has opened today's trade firmly in the mid 0.9800's after a raft of announcements last week locally and internationally.

The Aussie opens a shade lower against its US counterpart today at 0.9860.

After a volatile week, U.S. stocks closed nearly flat over five sessions as worries over the rate of Chinese growth and the stability of European economies mounted and ebbed.

On Friday Chinese authorities raised the Reserve Ratio by 0.50pct to 18.5pct - marking the fifth such rise this year.

Shares in New Zealand coal miner Pike River Coal Ltd dropped sharply after reports of an explosion at its underground mine about 50 kilometers (30 miles) north of the town of Greymouth.

Local stocks closed slightly lower today as financial and mining stocks turned negative despite an impressive lead in from global share markets and higher commodity prices.

The Australian share market closed lower on Friday, as speculation of more interest rate rises in China dampened investor sentiment to risk.

Australian businesses are continuing to be shackled by costly red tape, a new scorecard by the Business Council of Australia has found.

OZ Minerals (ASX: OZL) says it has been advised by the Australian Securities & Investment Commission's (ASIC) that the corporate regulator's investigation in relation to, amongst other things, the Company's disclosure obligations during the period approximately 1 July 2008 to 31 December 2008 has concluded.

Bell Financial Group (ASX:BFG) intends to merge its Southern Cross Equities unit and Bell Potter stockbroking business into a full-service independent stockbroker to boost revenue.

Local stocks are enjoying solid gains in early trade on the back of a positive lead from overseas markets.

Australia's largest automotive retailer Automotive Holdings Group Ltd (ASX:AHE) has confirmed it is in discussions with several firms to acquire car dealerships although an agreement is yet to be reached.

Airport owner and operator MAp Group (ASX: MAP), formerly Macquarie Airports, today announced a lift in total passenger traffic at all airports in October.

After drifting around USD0.9800/0.9850 yesterday, the AUD rallied back towards USD0.9900 overnight as investor sentiment turned positive once again.

The Aussie rallied for a second day grappling with the US Dollar at 0.9900 offshore.

U.S. stocks rose sharply Thursday as investors bet on a resolution to Ireland's debt situation and watched General Motors' shares climb on their return to the Big Board.

US jobless claims rose by 2,000 to 439,000 over the past week. However the four week moving average of claims - a better gauge of underlying labour trends - hit the lowest level since September 2008.

Virgin Blue scored a goal as the official airline of the Australian Football League (AFL) after the latter dumped Qantas on an $8 million-a-year contract.

The Australian share market closed higher, rising slightly from Wednesday's four week high as Sonic Healthcare, together with some mining and energy companies dragged the index higher.

Local stocks managed a win today as Asian markets snapped a four day losing streak on news the Chinese government has proposed temporary price caps to tackle inflation.

The Westfield Group (ASX:WDC), Australia's largest shopping mall landlord, has taken the e-commerce plunge with the launch of Westfield.com.au - an online mall for Aussie consumers.

Australian stocks are trading relatively flat at lunchtime in the East following a mixed lead from Wall Street and as losses from the banks cancel out gains made elsewhere on the market.

Australia's private pension funds First State Super and Health Super today announced an in-principle intention to merge, in a deal that could spark more consolidation as funds in world's fourth-largest wealth management market aim to cut costs.

Amid ongoing debate on stricter policies, Commonwealth Bank of Australia (ASX: CBA) chief executive Ralph Norris today warned politicians that over-regulation of the banking sector could hinder competition.

All of AXA Asia Pacific's (AXA.AX) independent directors have now backed AMP's $13.3 billion takeover bid from parent AXA SA (AXAF.PA) and AMP (AMP.AX).

It's been a mixed night for the AUD, with the local unit initially bought up through USD0.9800 before retreating back to USD0.9790 this morning

U.S. blue chip stocks fell slightly Wednesday, one day after a major market rout, although retailers were doing well, offsetting sinking financials.

Wages in Australia rose by 1.1% over the third quarter, gaining 3.5% in the year ending September. Although less than the 1.2% increase the market have expected,

US consumer prices rose by a smaller than expected 0.2pct in October after edging up by 0.1pct in September.