Sharon Olalia

Fast-food chain Burger King is to be sold to investment firm 3G Capital for $US3.26 billion in a deal analysts said would give the restaurant breathing room to fix its business.

The Australian currency finished stronger after it held on to most of its overnight gains, despite a lower than expected trade surplus jolting investor appetite for the unit.

The Australian bourse has closed stronger on Thursday as investors took heart from positive economic data. The market posted a second successive day of strong gains, with all sectors in the black.

West Australian Premier Colin Barnett has said his government will start the process to compulsory take land in the Kimberley for the development of a $30 billion gas precinct.

The Australian currency was higher at Thursday noon, retaining most of its overnight strength after manufacturing data led to a more positive outlook on the US economy.

The Australian bourse held its ground in the black by Thursday noon, although stocks have trimmed some opening gains as profit-taking set in.

Australia-based beverage company Foster's Group Limited (ASX:FGL) today announced that Chief Financial Officer Angus McKay has submitted his resignation to join ports and rail operator Asciano Group (ASX:AIO) .

Even with the effects of the global financial crisis, at a combined annual growth rate of 4.7 per cent, the world retirement market is forecast to expand 66 per cent by 2020 with total assets climbing from $35 trillion in 2009 to almost $58 trillion.

Julia Gillard vowed not to allow an alliance with the Greens party to change her plans for a tax on miners' profits.

Shares in Jetset Travelworld (ASX:JET), an Australian company engaged in selling of international and domestic travel products and services, soared as the Australian Competition and Consumer Commission gave the tour operator the green light to acquire Stella Travel Services.

The Australian bourse closed at its strongest in three weeks, rising more than 2 per cent, as a remarkably robust local economic data overshadowed a faltering US economy.

The Australian currency closed more than one US cent stronger on Wednesday following the release of better than expected official local economic figures and strong China data.

AVL Holding GmbH, an Austria-based company engaged in development, simulation and testing technology of powertrains for passenger cars, trucks and large engines, announced today that it has signed a letter of intent to acquire NTC Powertrain Australia, USA and UK.

Strong GDP growth published on Wednesday brings rate hikes back onto the Reserve Bank of Australia's agenda although the central bank can still wait, according to Bankwest, a wholly owned subsidiary of the Commonwealth Bank (ASX:CBA).

The Australian currency was about three-quarters of a US cent higher on Wednesday noon after the release of stronger than expected local gross domestic product (GDP) data.

The Australian bourse was more than 1.5 per cent higher on Wednesday noon as better than expected local economic growth figures boosted investor sentiment.

The Australian currency finished lower as economic jitters gripped world markets and overshadowed the effects of promising local data.

The Australian share market slumped more than 1 per cent on Tuesday, trimming yesterday’s increases as resource stocks and major banks slumped on ongoing uncertainty about the US economy.

Retail figures in July have shown significant growth but the figures are being propped up by the lifestyle choices of ordinary Australians as they spend their money on takeaway food, cafes and restaurants, says the Australian National Retailers Association (ANRA).

A lift in dwelling approvals in July provides a cause for cautious optimism that the wavering residential building upturn can regain momentum, according to Master Builders Australia, the peak body for the building and construction industry.

The Australian currency was lower at Tuesday noon, even with a strong set of local economic data released today.

The Australian stock market was lower at midday as doubts about the recovery in the global economy dragged down miners and banks.

The number of dwelling units approved rose in July, according to data released today by the Australian Bureau of Statistics.

Cafes, restaurants and takeaway food services are driving retail trade up, according to new data released today.

British-Australian miner Rio Tinto (ASX:RIO) announced on Monday it will invest US$1.6 billion to develop the Hope Downs 4 iron ore project in Western Australia and link with Rio Tinto's existing rail, power and port infrastructure in the Pilbara.

The Australian currency managed to finish almost one US cent higher even after a steady fall throughout the trading day as the Bank of Japan took measures to bolster liquidity in an emergency meeting.

The Australian bourse rallied on Monday, posting a record increase this month, as the investment community took heart from reassurances by US Federal Reserve chairman Ben Bernanke that the central bank would provide more stimuli to the US economy if necessary.

Australian prospectors are searching old mines for more gold as bullion prices increase, pushing production to its record high in more than six years, according to consultant Surbiton Associates.

Gold showed to be steady as it began its fifth straight week in positive territory before the release of mixed US economic data.