BUSINESS

Consumer confidence in Australia is far higher in the rural areas than those in the urban parts these past two to three months. This has been revealed in the the Westpac-Melbourne Institute consumer sentiment index published today.

- Soaring food prices have created instability in countries across Northern Africa and the Middle East- The odds seem in favour of further rises for food prices- Current estimates anticipate the world's population will grow by 4.

By Greg PeelThe Dow closed up 7 points while the S&P was flat at 1314 and the Nasdaq rose 0.6%.The Dow opened up 72 points higher last night, suggesting the oil-related pullback experienced this week is now being discounted and focus can re-settle on earnings reports.

The AUD traded in a pretty quiet fashion around the USD 1.0500 level during the offshore session. Reserve Bank of Australia Governor Glenn Stevens delivered a considered speech in New York overnight, and somewhat predictably didn’t provide any real insights that could be construed as relevant, to short to medium term monetary policy in Australia.

The release yesterday of the Westpac Consumer Confidence Survey showed that consumer confidence bounced modestly for the month of April with the survey of 1200 people demonstrating sentiment rising to 1.2% from a previous negative reading of 2.4%.

US retail sales rose by 0.4pct in March, after an upwardly-revised gain of 1.1pct in February (previously +1.0pct).

Ford and Toyota have separately announced production suspension at their plants in the Philippines due to parts shortages

For the first time in a little over a month, the first commercial aircraft landed in the airport of Sendai, the largest city in the northeast of Japan devastated by a powerful 10-meter high tsunami.

A snapshot of rental properties advertised over the weekend shows only 42 properties out of a total of 14,211 across greater Melbourne were affordable for low income singles and families.

Rio Tinto is heading for sharp slowdown in first half profit after revealing sharper than expected falls in iron ore and coal production and exports in the three months to March.

Asian regional markets are mixed in the last hours of trading in Australia, Singapore, and Japan as investors kept a "wait and see" attitude and bearish sentiments spilled from European and U.S. markets.

Australian insurance companies sent their key officials to London last week to meet with sponsors and urge them to renew their July reinsurance contracts.

Citi has appointed Scott Southall to the role of Head of Global Transaction Services (GTS) for Australia and New Zealand.

Microsoft Bing is seen overtaking Google as more users are making the switch to the Bing powered research on the Internet.

Australian brand development powerhouse, lime door brands has signed a global deal with international burlesque star and fashion icon Dita Von Teese.

The Australian and International Pilots Association (AIPA) is seeking clarification from Qantas management on behalf of the travelling public over whether the QF50, which made an emergency landing at Sydney airport today, was actually a Qantas flight or not.

Anglo-Australian miner Rio Tinto (ASX: RIO) says its operations were affected by ongoing weather-related issues during the first quarter.

Airlines in the Asia Pacific region lead “absolute growth” in planned capacity levels worldwide for April, according to the latest update by aviation industry monitoring group OAG.

- Higher oil prices will impact on global growth this year- Current prices already offer some evidence of demand destruction- Goldman Sachs identifies market sectors likely to be impacted in AustraliaBy Chris ShawGeopolitical tensions, loose monetary policy and an ongoing US economic recovery combin...

Japanese machine tool orders increased for the 16th consecutive month in March to 113.36 billion yen, although the 49.5 percent growth from the year-ago level represented a slowdown from previous months' expansion pace

The Asian Development Bank (ADB) has announced its first trade finance agreements with Georgia that will provide guarantees and loans through banks in the central Asian country.

Australian renewable energy company, CBD Energy (ASX: CBD), has disclosed to the ASX it would finalise its joint venture with two of China's largest renewable energy companies and pursue A$6-billion worth of renewable energy projects in the coming years.

A key measure of Australian consumer confidence bounced modestly in April as people grew more optimistic on the economy for the year ahead and felt better placed to buy major household items.

The US trade deficit narrowed by 2.6pct to $45.8 billion in February. US imports fell by 1.7pct in February, while exports fell by 1.4pct.

- As 2010 brought many disappointments, shares in CSG Ltd weakened more than 30%- Recently, stockbrokers seem to be warming towards the stock again- BA-ML has upgraded to BuyBy Chris ShawLast year marked a significant turnaround in the fortunes of information and communications technology group CSG ...

- Investors have this month become more optimistic on the back of improving data regarding US consumers- Paying attention to details, however, suggests some of these data are not as good as they seem- Proprietary surveys by the Consumer Metrics Institute shows US consumers are spending less instead ...

By Greg PeelThe Dow fell 117 points or 1.0% while the S&P fell 0.8% to 1314 and the Nasdaq lost 1.0%.Australia woke yesterday to an IMF report suggesting firstly that the string of natural disasters earlier in the year will impact on local economic growth and, more broadly, that there was a risk of ...

After a very strong run in recent weeks, the AUD has taken a breather overnight, with a drop in commodity prices and a stronger USD pulling the AUD back below the USD1.0500 level.

To secure Australia energy supply requirements, the government has declared its largest area for offshore petroleum exploration in more than a decade.