MANUFACTURING

Higher iron ore and coal production led to a strong third quarter performance for Rio Tinto. As a result, the Australian mining firm is expected to break its record $14.43 billion profit in 2010.

Cementing its commitment in developing an open pit mine in South Australia, BHP Billiton has announced on Wednesday that the company's board has earmarked US$1.2 billion in pre-commitment capital for the first phase

Australia's business and other industry groups are now on the quandary as to the passage of the carbon tax legislation in Congress now waiting for the final stamp of approval in the Senate.

Iron ore miner Sundance Resources said on Tuesday that it expects no delay in the Foreign Investment Review Board's (FIRB) decision on the $1.65-billion takeover bid by China's Sichuan Hanlong Mining.

AFTERNOON REPORT (4.30pm AEDT)The local share market posted its fourth win in a row today, kick-starting the trading week on a positive note. Investor sentiment remained buoyant after German and French leaders agreed to do all that is necessary to secure the recapitalisation of European banks. Share markets around the Asian region were generally positive, despite ratings agency Fitch cutting the credit ratings of Italy and Spain. The All Ordinaries Index (XAO) gained 37.3pts or 0.9pct to 42...

Coca-Cola Amatil (CCA) Australia has invested $35 million in a new bottle production facility in Adelaide on Monday.

The economic insecurities affecting most countries around the world had caused majority of Australian businesses to become more wary to the point of being pessimistic.

The Australian sharemarket is surprisingly holding up very well despite a fall in U.S shares on Friday. The All Ordinaries index (XAO) is up 1.1 pct or 46.4 pts to 4271.4, adding to the 3.8 pct gains recorded last week.

Amcor, BlueScope Steel, Boral and other major Australian manufacturers recently formed a new industry manufacturing group to oppose the proposed carbon tax.

While battling strikes from ground crew, baggage handlers, engineers and pilots, Qantas also signed on a contract on Thursday for the largest single commercial jet order in Australian aviation history worth $9.5 billion.

The share market rally continued today, with local stocks gaining for the third session in a row. Investor optimism was boosted by strong gains in the US and Europe overnight after the European Central Bank announced new measures to provide cash strapped banks with liquidity.

Prime Minister Julia Gillard says Australian workers, not migrants, should be prioritized in filling employment requirements. For his part, Jobs Minister Chris Evans warned against reducing skilled migration numbers as this could affect pace of work at the industry, noting jobs are "moving north and west" and there are some areas which are "doing it tough".

Australian shares leapt the most in almost three years as investor sentiment improved on renewed optimism a solution is near at hand for the Eurozone debt crisis. The local market opened more than one per cent stronger after Wall Street surged for its second straight day, then eased slightly after midday but soared in the last hour of trading. By the close, the benchmark S&P/ASX200 index had reached its highest level since September 21, rising 143.4 points, or 3.65 per cent to 4,069.9 and the br...

Apple founder and former CEO of same Steve Jobs has lost his battle with pancreatic cancer, the company announced.

The Australian share market closed 0.6 per cent lower, with investors starting to hope that the central bank would cut interest rates for the first time in a year next month. The local bourse opened almost one per cent down on a weak lead from Wall Street overnight. By the close on Tuesday both major local indices had made back some of their early losses, with the benchmark S&P/ASX200 index down 24.9 points, or 0.64 per cent, at 3,872.1 and the broader All Ordinaries index dropped 25.1 points, o...

MIDDAY REPORT (12.30pm AEDT)The Australian sharemarket is continuing to fall after a tough start to the new trading week yesterday. The ASX 200 index (XJO) is down 0.4 pct or 17.1 pts to 3879.9 while the broader All Ordinaries index (XAO) is 0.5 pct or 18.9 pts lower to 3941.8.

Economists said Tuesday that despite the stronger-than-expected international trade and building approvals figures for August, the Reserve Bank of Australia is unlikely to change the current cash rate.

Japan intends to work more closely with private firms dealing with internet security after Mitsubishi Heavy, which works closely with Boeing, said in September network information such as IP addresses may have been leaked.

Manufacturers experienced another tough month in September with the Australian Industry Group - PwC Australian Performance of Manufacturing Index (Australian PMI®) down 1.0 point to 42.3, indicating a further weakening in the sector.

AFTERNOON REPORT (4.30pm AEST)The Australian share market ended what has been another volatile week on a flat note, despite attempting a rally in early trade. The All Ordinaries Index (XAO) added 2.2pts or 0.1pct to 4070.1 while the S&P/ASX 200 Index (XJO) firmed by 0.3pts to 4008.6.

American investment analyst James Dines criticised Australia's natural resources policy, particularly selling large land areas to China.

AFTERNOON REPORT (4.30pm AEST)The recent rally on the Australian share market came to an abrupt end today, although the losses weren't overly significant or surprising. US and European markets closed in the red overnight, as investors looked to square their books ahead of the end of the month and end of the September quarter. A lack of concrete and decisive action from European leaders also frustrated investors. The Australian market, which has gained around 4.5pct over the past couple o...

Diesel oil spilled into the Brisbane River near the commercial business district. The spill, near Eagle St Pier, was reported at 5:30 a.m. and is estimated to have spread 150 to 200 metres along the river's northern bank.

Australia is the 7th best country in the world to mine, a global survey released on Thursday said. It was a big jump from Australia's 26th place in 2010 in ResourceStocks magazine's annual World Risk Survey.

All good things have to come to an end and unfortunately the S&P 500 could not make it four out of four successive gains. US equities saw selling right up until the close, with the bears easily winning the session. The NASDAQ was the worst performer, losing 2.2% while the S&P fell 2.1% and the Dow Jones Industrial Average shed 1.6%.

The Australian sharemarket rose almost one per cent in the second day of gains, as markets recovered from last week's massive losses on hopes of a solution to Europe's debt crisis. However, the market investors remained unsure whether a solution to the crisis could be found amid conflicting media reports. The benchmark S&P/ASX200 index had risen 34.9 points, or 0.87 per cent, to close at 4,039.5, while the broader All Ordinaries index rose 34.2 points, or 0.84 per cent, to 4,097.7.

(4.30pm AEST)Investor confidence remained strong today, with the local market managing to hold onto and add to yesterday's 3.5pct gain. Markets around the Asian region were generally firmer, after the Greek parliament approved a contentious property tax law which is crucial to its austerity plan and its commitments to secure bail-out funds. The local share market lost a little steam in afternoon trade but closed higher by 0.8pct, with the All Ordinaries Index (XAO) adding 34.2pts to 4097....

South Korea's ruling Grand National Party seeks to ameliorate relations with neighbor North Korea through economic cooperation and humanitarian assistance, The Korea Times reported.

MIDDAY REPORT (12pm AEST)The Australian sharemarket is gaining for the second straight day with the ASX 200 index (XJO) up 0.5 pct or 20.5 pts to 4025.1 while the broader All Ordinaries index (XAO) is also 0.5 pct or 22.2 pts higher to 4085.7. Shares improved by 3.5 pct yesterday, breaking three consecutive sessions of losses.