BUSINESS

Fitch Ratings downgraded over the weekend the AA credit ratings by one notch of three large Australian banks. As a result the long-term issue default rating of Commonwealth Bank, Westpac and National Australia Bank is now AA- which reflects their weaker funding profile.

WikiLeaks has announced on Monday the publication of millions of email exchanges obtained from controversial international security expert Strategic Forecasting Inc (Stratfor), which WikiLeaks founder Julian Assange has accused of targeting activist groups.

For car maker Holden to maintain its two-model manufacturing facility in Adelaide, the firm needs $250 million assistance from the government, Holden Chairman and Chief Executive Mike Devereux said on Sunday.

There is a possibility that Apple, Inc. (NYSE:AAPL) will take the victory the tablet wars due to the eminent release of iPad 3 and the slash on the price tag of the iPad 2.

The Australian stockmarket will open weaker today as investors eye the latest surge in oil prices (see top story), which threatens the gathering rebound on global markets.

Very quickly, the rising price of oil and petrol has emerged as the most significant obstacle to the nascent recovery in global economies and markets strengthening in the next few months.

The risk of the closure of Caltex Australia's Sydney and Brisbane refineries became higher after the oil giant announced on Monday $852 million loss for 2011. Caltex is currently reviewing its operations which could result in the axing of 800 refinery jobs.

Many people are anticipating the Mobile World congress as top players in the smartphone industry are expected to launch their latest offering during the event.

Dell just unveiled the company's first ultrabook called the XPS 13. Dell also announced that they would begin shipping the company’s ultrabook to U.S. and Canada stores by next week.

By Kathleen Brooks, Research Director UK EMEA at FOREX.comRisk is back on and some indices are hitting fresh multi-year highs as I write this.

The Australian share market edged out a win for the final trading session of the week, boosted by positive signs on the US labour market. The number of Americans lining up for unemployment benefits last week remained at the lowest reading since March 2008, giving US stocks a boost. The All Ordinaries Index (XAO) today gained 21.5pts or 0.5pct to 4389, and was up 2.7pct on the week.

Jetstar passengers are complaining of the budget air carrier's flight delays and postponement. The average delay of 25 per cent of Jetstar planes in January was at least 15 minutes.

Australia's booming export trade will be further boosted in 2012, largely because of the country's steady and growing partnership with China and the possibility of growth in other markets.

Pressures coming from U.S. attorney generals compelled six leading tech companies to provide more information to users who may be compromising their privacy whenever they download apps into their mobile devices.

The National Broadband Network nears its full realisation as Telstra Corporation submitted on Thursday its revised plan that will pave the way for NBN Co to assume control of the giant telco's national communication network.

The Australian share market is slightly higher in early trade, following modest gains on Wall Street overnight. US investors were encouraged by a report showing the number of Americans lining up for unemployment benefits last week remained at the lowest reading since March 2008. At lunchtime in the East, the All Ordinaries Index (XAO) is up 12pts or 0.3pct to 4379.6.

Rudi Filapek-Vandyck, Editor FNArenaI joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently.

By Alexander GreenMore than two thousand years ago, the Greek sage and philosopher Epictetus counseled, "It is impossible for anyone to begin to learn what he thinks he already knows.

US jobless claims held steady at 351,000 last week - marking the lowest reading since March 2008.

By Greg PeelThe Dow rose 46 points or 0.4% while the S&P gained 0.4% to 1363 and the Nasdaq added 0.8%.

An official of the Reserve Bank of Australia (RBA) lauded the high-quality lending practices of the country's banks which helped avoid a subprime housing slump similar to what happened in the U.S.

Santos, a coal seam gas (CSG) mining company in Australia, admitted committing environmental errors in its Pilliga East State Forest operations. In a report to the New South Wales government which contained a review of its drilling operation, Santos said there were many instances of pollution, including leaks and spills, that were reported.

Virgin Australia has benefited from the months-long labour dispute at Qantas by registering a first half profit of $51.8 million. It is more than double the $23.8 million the air carrier had compared to the same period a year ago.

The Australian share market is trading lower at lunchtime in the East, following an unconvincing lead from offshore markets and due to a lack of major economic data to guide investor sentiment. The All Ordinaries Index (XAO) is down 19.2pts or 0.4pct to 4352.9.

Australian consumers are forewarned of a fake telephone survey with the aim of defrauding them using their own bank accounts and other information.

Luxury retailer David Jones reported on Thursday sales result that best reflects the generally sombre mood of the local retail industry. The numbers offered a snapshot of what to expect for the rest of the year.

Crescent Wealth, Australia's first Islamic wealth manager, announced on Thursday that it has entered into an agreement with Saturna Sdn Bhd (a wholly-owned subsidiary of US based Saturna Capital) to act as the portfolio manager to the Crescent International Equity Fund to be launched later this year.

The New Zealand dollar fell after European Union finance ministers handed Greece a 130 billion euro lifeline to avoid bankruptcy in March, the New Zealand Herald reported.

US existing home sales rose by 4.3pct in January to a 20-month high of 4.57 million, slightly below market expectations.