BUSINESS

The Australian share market closed in the red after financial stocks fell following the Federal Treasurer's pledge to release banking competition measures within the next week.

Business investment will take off in 2011 as Australian economic growth continues, according to the annual survey of financial and macroeconomic forecasts made by members of the Executive Committee of the Australian Business Economists (ABE).

TrimTabs Investment Research and BarclayHedge report that hedge funds inflow of $16.0 Billion in October is the fourth as well as the heaviest in the string of inflows recorded since November 2009.

Australian entrepreneurs are now using E-business channels to uncork opportunities in China's lucrative wine market.

The Green Building Council of Australia's (GBCA) has made changes to its Green Star building rating tool by revising two credits into the system to measure storm water and commuting mass transport.

Southeast Queensland residential market prices are expected to stay steady at least in the short-term says a CB Richard Ellis report.

Australia's overall construction sector prices were considered inconsistent this year although Melbourne's performance outshone the rest based on a survey conducted by real estate consultant Davis Langdon.

Housing affordability in Australia posted the largest annual decease since the beginning of the decade, a new report shows.

Hennessee Group LLC, hedge funds investment adviser, reported hedge fund index advance of +0.2% in November.

As heavy rains slowly subside in central Queensland, giant global mining firm Rio Tinto Ltd gradually returned to its mining activities in the region, following the incessant downpours during the past few days that transformed the area’s mining pits into temporary dams.

Australian stocks are trading flat at lunchtime in the East, but have managed to recover from losses reached early in the session.

Loan lenders are urging Australians to ditch their debt cycle and become smarter with their holiday spending to avoid financial stress in 2011.

The Australian dollar opened weaker today after overnight gains from RBA statement to hold rates.

The Australian retail market faces challenging times ahead as rising interest rates, utility bills and rents strain sales.

Coal producer Aston Resources reached a deal with giant Japanese firm Itochu Corporation, allowing the latter to acquire up to 15 percent interest on its Maules Creek project in the northern part of New South Wales.

Wholesale telecoms carriers have a significant opportunity for growth by delivering managed services, according to an independent market analyst firm.

Buyers are expected to flock the sale of mixed-use waterfront site at the Promenade located in the Kingston Foreshore development.

The prime retail building located on 136 Bourke Street in Melbourne sold for US$2,478,000 and attracted seven serious bidders to the auction.

Nearly one million Australians say they are likely to dump their current home loan provider in the short term, a new national poll has found.

The Australian Dollar has opened weaker this morning trading at 0.9820 after trading to an overnight high of 0.9966.

U.S. stocks climbed Tuesday, lifting the Standard & Poor's 500 stock index to highs not seen since September 2008, as investors applauded an agreement between President Barack Obama and Republican leaders in Congress that would extend the Bush era income tax cuts for two years.

US President Barack Obama has struck a deal with Republicans that should result in the so-called ´´Bush-era tax cuts´´ being extended for another two years. The deal includes a 13-month extension of unemployment benefits.

The Aussie opens lower today against the greenback at 0.9850.

As most economists had predicted, the Reserve Bank of Australia (RBA) opted for a pause on the country’s rate movement and allowed the prevailing cash rate of 4.75 percent to roll over in December.

The Australian stock market has posted solid gains following a strong performance from banks and miners and news the central bank has left the cash rate on hold.

Local stocks rallied today, reaching one month highs, as investors reacted favourably to the Reserve Bank’s decision to keep interest rates on hold at 4.75pct.

Global investment firm The Carlyle Group buys 55 per cent of hedge fund Claren Road Asset Management.

The New South Wales housing code has widened the conditions for its 10-day approval process leading to more money and time saved for homeowners.

Doug Campbell has advised that he will be leaving the National Broadband Network team for personal reasons and retiring at the end of the year.