Sharon Olalia

Business confidence in the September quarter rose although business condition eased marginally, according to new figures.

The Australian share market closed weaker on Tuesday, dragged down by financial stocks and profit taking after recent gains.

Australian shares retreated today, as sellers moved in following the impressive gains made during yesterday's trade.

The Australian share market has come off highs reached yesterday, as regulatory hurdles put a dampener on the proposed merger between the ASX and Singapore Exchange.

New buyout fund-raising has stalled at 2009 levels as anxiety over the country's tax regime keep investors at bay, according to data released by the Australian Private Equity & Venture Capital Association (AVCAL) on Tuesday.

Leighton Contractors, a wholly owned subsidiary of Australia's largest construction company Leighton Holdings Limited (ASX: LEI), has been awarded $670 million worth of new road work.

Commonwealth Bank of Australia (ASX: CBA) has warned significantly higher funding costs will impact banks in the short to medium term underscoring the challenge ahead for the deposit deficient sector.

The AUD has opened slightly weaker this morning after strengthening during the later parts of our trading session yesterday and the start of the offshore session overnight as a result of some unexpectedly strong data for Australian producer prices.

U.S. stocks gained Monday, as a weaker dollar boosted materials and hopes for further central bank stimulus kept the market edging higher.

US existing home sales rose by 10pct in September to an annual rate of 4.53million, well above forecasts centred on a rise of 4pct to 4.30 million.

The Aussie spiked sharply above US99 cents during local trade yesterday after stronger-than-expected producer price data (PPI) increased the prospects for an interest rate rise next month.

The local share market soared today as news the Australian Stock Exchange plans to merge with the Singapore Exchange boosted investor sentiment.

The Australian share market closed higher on Monday, led by financials and resources, as a possible merger between the Australian Stock Exchange and Singapore Stock Exchange boosted positive sentiment.

The Australian Bankers' Association (ABA) remains concerned with the direction of the Coalition's proposals on bank regulation, although it said the industry welcomes clarification of the Shadow Treasurer's comments.

With the release of its first of a series of issues papers, the Australian Communications and Media Authority (ACMA) today signalled it intends to shake up the Numbering Plan, which sets out the rules for the use and administration of telephone numbers in the country.

Russell Balding has announced his departure as CEO of Sydney Airport in early 2011 at the conclusion of his employment contract.

The Australian share market has surged today, on news that the ASX (ASX) has entered into an agreement to merge with the Singapore Exchange (SGX). At lunchtime in the East, the All Ordinaries Index (XAO) is up 57pts or 1.2pct to 4776.6.

Leighton Holdings Limited (ASX: LEI) today said it will be making an application to the Takeovers Panel seeking a declaration of unacceptable circumstances and consequent orders in relation to the proposed takeover bid by Spanish company Actividades des Construcción y Servicios' (ACS) for Leighton's German parent Hochtief AG.

A sense of urgency to pay down home loans ahead of rate hikes combined with low personal savings is seeing many Australians embrace credit cards as a means of meeting everyday expenses, new data suggest.

The Australian dollar has opened slightly firmer this morning following the G-20 Finance meeting held over the weekend in South Korea.

US stocks closed mixed on Friday as good corporate earnings were weighed against concerns over the dollar as G20 finance ministers held talks in South Korea in a bid to avert a currency war.

The German Ifo business sentiment gauge has lifted to the highest levels in 3-1/2 years, lifting from 106.8 to 107.6 in October, and ahead of forecasts centred on 106.5.

The Aussie opens higher on Monday at 0.9850 and received a boost after comments by U.S. Treasury Secretary Timothy Geithner at the weekend's G-20 conference.

The Australian share market ended the week higher on Friday, led by miners and the banking sector.

The local share market managed to notch up a win for the final session of the trading week, on the back of a positive offshore lead. The All Ordinaries Index (XAO) gained 23.2pts or 0.5pct to 4719.6 while the S&P/ASX 200 Index (XJO) added 25.3pts or 0.6pct to 4648.2

Banks on Friday defended their recent practice of hinting rate hikes in response to the competition watchdog's comments that announcing intentions about interest rate movements could almost be anticompetitive behaviour and the subject of possible action.

The competition watchdog today joined the campaign for closer regulation of Australian banks.

More stringent auditing requirements for self-managed super funds (SMSFs) foreshadowed in the Cooper Review will needlessly increase costs, the national accounting firm Chan & Naylor argued on Friday.

The AUD rallied yesterday before retreating again overnight to below USD 0.9800.