BUSINESS

So was the solid week in Asia a one-off bounce, or a sign that investors have figured out that the region is once again a 'safe haven' while Europe and the US struggle with their respective crises?

The US government revised its final figure for first-quarter economic growth to 1.9% Friday night, our time, up from its earlier estimate of 1.8%, but the improvement provided no joy to the markets.

A day of confusion in trading in bank shares on the Italian stockmarket on Friday has raised concerns that the euro crisis is taking a new direction.

BIS Shrapnel has disputed the idea of a property market crash, and has forecast that house price growth will begin to accelerate within the next two years.

The Australian share market rose slightly in mixed trading before the weekend, with gains in financials, consumer staples and materials offsetting falls in telco, utilities, industrials and energy stocks.

US durable goods orders rose by 1.9pct in May, above forecasts centred on a 1.5pct gain. The US economy grew at a 1.9pct annual pace in the March quarter, above the previous estimate of 1.8pct.

France will use talks with other G20 nations to argue for tougher rules on global food commodities trading, as surging prices pose a risk to businesses and consumers.

Telstra, Optus and the federal government have done the long awaited deals to get the NBN going.

The Australian sharemarket gained for the third time in 5 sessions, with the ASX 200 index (XJO) up 0.2 pct or 7.6 pts to 4508.1 while the broader All Ordinaries index (XAO) rose 0.1 pct or 3.6 pts to 4565.

Two of Australia's biggest supermarket retailers say the Federal Government have not consulted them about the proposed carbon tax and are calling on the Government to reveal details about the tax before implementation.

The organisation of small non-bank lenders in Australia will continue the battle to extend competitive mortgage fees as against the big banks in spite the leveling of exit fees, the industry-led Mortgage & Finance Association of Australia (MFAA) said.

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Australia's renewable energy industry has welcomed Thursday's report of the Senate Inquiry into the Social and Economic Impact of Rural Wind Farms, saying it provided no reason to stop the roll out of this important clean energy technology.

Australia's Prime Minister Julia Gillard is celebrating her first year in government with almost 60 percent of citizens wary of extending support to reforms she wanted to undertake specifically a carbon emissions tax deemed unpopular in an economy fueled by the mining sector.

By Greg PeelThe Dow closed down 59 points or 0.5% while the S&P came back to 0.3% down at 1283 and the Nasdaq managed to close up 0.

- Fund managers more uncertain about market outlook- Defensive assets favoured over growth assets- Managers still relatively bullish on Australian equities- Australian dollar expected to fall in coming yearsBy Chris ShawGlobal equity markets weakened in the June quarter, Russell Investments attribut...

The Australian stock market is seen receiving a little shove from the negative leads over volatile overnight sessions in the US and European stock markets. The ASX is seen performing modestly on Friday.

U.S. stocks were mostly lower Thursday in volatile trading, as a toxic mix of weak economic data and a surprise oil-market intervention competed for investors' attention with reports of a new Greek austerity plan.

The AMP's chief economist and strategist, Dr Shane Oliver updates his Wall of Worry report from may, which was pushed a little higher yesterday with the US Federal Reserve cutting its 2011 and 2012 growth forecast for the US and lifting its estimates for inflation and unemployment.

Now we have the US and Chinese economies definitely slowing.

The Credit Ombudsman has encouraged lenders and credit providers to improve their internal dispute resolution schemes to avoid the "reputational implications" of having a complaint taken to an EDR.

The Australian share market closed weaker, in line with a global sell-off following a downbeat assessment of US growth by Federal Reserve chairman Ben Bernanke.

US new home sales fell 2.1pct to a seasonally adjusted annual rate of 319,000 in May.

The arguing, or rather debating, over the value of Foster's is now underway in the wake of the $4.90 a share offer from SABMiller.

The Australian government finally sealed its hard-fought agreements with two of the country’s leading telcos that hopefully will roll out the implementation of the National Broadband Network, pending the approval of the Australian Competition and Consumer Commission (ACCC).

The Aussie moved right back to the top of the trading range at 1.0640 overnight before the sellers came back into the market sending the pair back to support at 1.0500. From here, traders will be looking to ride the move back to 1.0640, with the expectation that the trading range will remain in place until we see a clear break in either direction.

Perseus Mining Limited (ASX/TSX: PRU) has drawn down US$85M under a Project Finance Facility for the completion of the company's Company's Central Ashanti Gold Project ("CAGP") in Ghana, Africa.

Facebook founder Mark Zuckerberg’s legal battles with his Harvard contemporaries Cameron and Tyler Winklevoss may see an end soon with the twins informing the 9th U.S. Circuit Court of Appeals on Wednesday that they are intending not to appeal its earlier decision.

National Australia Bank (ASX: NAB) has again stoke Australian banking competition, urging its rivals to either act, or explain to their customers why they refuse to give them the best possible deal.