Sharon Olalia

Commonwealth Bank of Australia (ASX: CBA), the country's top lender, has posted cash earnings of $1.6 billion for the three months to September. That compares with $1.4 billion reported a year-ago and hits the $1.6 billion average forecast of analysts.

The Australian Dollar has opened trade this morning in the high 0.9800's after touching a low of 0.9825 on Friday night.

U.S. stocks sank Friday, ending a lackluster week as investors already on edge about global growth prospects became concerned that China could take steps to brake its economy's expansion

The Aussie fell as much as 1.75% against the Greenback as trading moved offshore following a shocking 5% decline in Chinese stocks.

The University of Michigan preliminary reading on US consumer sentiment rose from 67.7 to 69.3 in November - marking the highest reading since June.

Ten Network Holdings Limited (ASX: TEN) today announced it has extended the contract of Grant Blackley, CEO - Television, for an additional period of two years, to 31 August 2013.

Local stocks moved backwards in afternoon trade, as futures markets suggested a negative night on Wall Street due to investor jitters over the outcome of the G20 summit.

National Australia Bank (ASX: NAB) is the latest among the country's major banks to lift rates above central bank levels.

Bow Energy Ltd (ASX:BOW), an Australia-based company engaged in oil and gas exploration and in discovery and commercial production of coal seam gas (CSG), announced today it has successfully completed a placement of 42.1 million ordinary shares to Institutional and Sophisticated Investors at $1.15 per share to raise $48.4 million.

Mining stocks are helping to lift the Australian share market, which is trading flat at lunchtime in the East following a negative start in the wake of a weak lead from Wall Street.

Continuing its expansion in Tasmania, grocery giant Woolworths Ltd (ASX: WOW) on Friday said it now has a new distribution centre in the state.

Tomago Aluminium, a joint venture between global companies Rio Tinto Alcan, Gove Aluminium Finance Ltd (CSR and AMP) and Hydro Aluminium, has signed an 11-year base-load power supply contract with Macquarie Generation, securing the company's power supply until 2028.

Food and dairy company Goodman Fielder (ASX:GFF) formally scrapped plans to sell its $240 million edible fats and oils business to food group Cargill after the Australian competition regulator continued to oppose the deal.

The Australian dollar has opened below parity for the second time this week as concerns out of Europe hit risk sensitive investors.

U.S. stocks declined Thursday, led by the technology sector, after a dismal outlook from Cisco Systems prompted a broad market selloff.

Yesterday's unemployment data seemingly provided the markets with nothing more than volatility as an extra 29,700 jobs were created in the last month, 9.5K above expectations, followed by the announcement of an unexpected increase in the actual unemployment rate to 5.4%.

The group of G20 nations may agree on steps to introduce quantitative targets for macroeconomic policy targets according to Russian Finance Minster Alexei Kurdin. Targets are expected to help transition to more flexible global exchange rates.

Australian stocks made a recovery today as robust Chinese economic data spurred investor sentiment around the region.

Australia and New Zealand Bank (ASX:ANZ) yesterday became the first local bank to scrap its exit fee for mortgages. But this move failed to molify customers after it also lifted the interest rate on its standard variable home loans by 39 basis points to 7.8 per cent.

Qantas today confirmed an updated schedule for its international network to ensure minimum disruption to passengers following the grounding of its Airbus A380 fleet.

Australian stocks are showing signs of a rebound today, with energy players leading the way after the price of crude oil hit a fresh two year high in New York overnight.

Cutting exit fees is only half the battle in the banking competition, according to a national accounting firm.

Australia's mining boom and the related high Aussie dollar is playing havoc with the country's manufacturing industry, a union says.

Australia's banks will need to review all their mortgage exit fees on existing and new mortgages following the release of the Australian Securities and Investments Commission's (ASIC) guidance, the Australian Bankers' Association (ABA) said.

Renewed concerns over European sovereign debt pushed the AUD back below parity overnight.

U.S. stocks erased their morning losses Wednesday, moving tepidly into positive territory in afternoon trading, though global concerns continued to weigh on sentiment ahead of a meeting of world leaders.

The Australian Dollar started trading yesterday with a very brief dip below parity; however a 1.3% rise in home loans placed in effect a morning rally which was capped at 1.0070.

New claims for unemployment insurance in the US fell by 24,000 to 435,000 in the latest week - below expectations of 450,000. The four-week average of claims is at 26-month lows.

Australian stocks were sold off heavily in afternoon trade, as news out of China pulled down many markets around the region.