Sharon Olalia

Australian newspaper circulation has slid in the three months to June 30, according to recent data.

Telstra Corporation Ltd (ASX: TLS) announced today that private equity firms General Atlantic and Apax Partners have agreed to effectively underwrite a planned stockmarket float of SouFun Holdings Ltd, China's second-largest online real estate website where the Australian telecom giant is major shareholder.

The Australian share market has received a mixed lead from offshore markets, with Wall Street and oil prices ending weaker, while metals gained.

The controversial debates in the mining sector have hit Australia's reputation as a safe destination for mining investment and exploration, according to a survey.

The Australian dollar opened slightly lower today as investors continued to dodge risk assets after the release of worse than expected US jobs numbers.

Consumers in Australia expect a slight decline in inflation, according to survey results issued today by the Melbourne Institute.

Shares in building products maker James Hardie Industries (ASX:JHX) slumped to their lowest in a year after the company announced its outlook remained uncertain.

The Australian dollar was trading lower at midday, as a bleak global economic outlook and a marginal rise in the unemployment rate dragged the local currency down.

The Australian share market was lower at midday following a poor performance on global markets overnight and a slight increase in the domestic unemployment rate.

Australian telecommunications carrier Optus has recorded its strongest growth in five years with its net profit in the three months to June showing steep increase.

Australia's unemployment rate was a seasonally adjusted 5.3 per cent in July, compared with an unrevised 5.1 per cent in June, according to data issued today by the Australian Bureau of Statistics (ABS). With the softer job figures, economists predict there will no more interest rate increases this year.

The Westpac Group (ASX:WBC) today announced Greg Bartlett will be retiring as St.George's CEO effective December 2010 after a career of nearly 30 years with the bank.

Australian department store chain Myer (ASX: MYR) today reported a 0.7 per cent increase in full-year sales and forecast earnings before interest and tax (EBIT) to exceed previous guidance.

Australia's telecommunications giant Telstra (AZX: TLS) today announced a 4.7 per cent decline in full-year net profit and forecast lower earnings in the year ahead.

The Australian bourse is set to dive today after receiving negative leads from offshore trading overnight. Key market indices all plunged, while oil slid and only gold gained among key metals.

Australian airline company Qantas Airways (ASX:QAN) today announced its net profit for the year to June 30 slid 4.3 per cent to $112 million from $117 million in the previous corresponding period.

Domestic air fares have increased to their highest level in more than a year, with discount fares more than 5 per cent higher in August.

The Australian currency started weaker, sliding below 90 US cents overnight as traders continue to avoid risk assets due to bad global economic data.

The Commonwealth Bank (ASX: CBA) defended its record net cash profit of $6.1 billion, up 42 per cent from last year, saying the group supported thousands of Australians through employment and dividend payouts.

Recent reports of major banks in Australia showing massive profits may become an election issue as a senator criticise the big lenders.

Adelaide-based Cohda Wireless Pty Ltd announced today that it has been selected as a key supplier of cooperative safety communications equipment to Safe Intelligent Mobility or simTD, the world's largest on-road cooperative vehicle safety trial.

The Minister for Primary Industries and Water, Bryan Green, today launched a new initiative from Australian supermarket group Woolworths (ASX:WOW) that will benefit farmers in Southern Tasmania.

Sir Richard Branson today announced that Virgin Atlantic Airways, Virgin America and V Australia/Virgin Blue are teaming up to offer each airline's loyalty program members the opportunity to earn miles or points when taking flights on their sister-branded airlines.

The Australian stock market was lower by noon, dragged by the banking and mining sectors, which both experienced losses.

The Australian currency was lower by midday following losses on Asian equity markets.

Fears about the economy stopped landlords from increasing rents over the last three months even with extraordinary house price hikes, according to a quarterly survey by Australian Property Monitors.

Alumina (ASX:AWC), a 40 per cent partner in the Alcoa-managed AWAC global alumina joint venture, said the industry's drive for alumina to be traded on global markets on a spot price/index-related basis instead of linking it to aluminium metal prices will produce large benefits.

Commonwealth Bank of Australia Ltd (ASX: CBA) said today it will retain conservative capital and liquidity settings given the still uncertain environment after posting 42 per cent growth in full-year cash profit.

The Australian currency opened higher on Wednesday after the US Federal Reserve announced stimulus measures to aid the weakened US economy.