BUSINESS

Emphasising the extent of damage incurred by Qantas Airways’ Flight 32 during its engine blowout incident over Indonesia last November 4, an aircraft engine expert could only conclude that all-aboard on the A380 superjumbo effectively cheated death when the aircraft still managed to land back in Singapore.

Citing unattractive demand currently prevailing on the service route, Tiger Airways has decided to suspend its flights between Darwin and Melbourne for two months though it made clear that no complete pull out for the airline is in the offing.

Local stocks are enjoying solid gains in early trade on the back of a positive lead from overseas markets.

Australia's largest automotive retailer Automotive Holdings Group Ltd (ASX:AHE) has confirmed it is in discussions with several firms to acquire car dealerships although an agreement is yet to be reached.

Airport owner and operator MAp Group (ASX: MAP), formerly Macquarie Airports, today announced a lift in total passenger traffic at all airports in October.

Giant telco firm Telstra Corporation Ltd is banking on an expected surge in customer numbers is fiscal 2011, reaffirming that the company’s previously set financial guidance is within reach despite projections that earnings could suffer a bit in the current financial year.

U.S. stocks rose sharply Thursday as investors bet on a resolution to Ireland's debt situation and watched General Motors' shares climb on their return to the Big Board.

US jobless claims rose by 2,000 to 439,000 over the past week. However the four week moving average of claims - a better gauge of underlying labour trends - hit the lowest level since September 2008.

Virgin Blue scored a goal as the official airline of the Australian Football League (AFL) after the latter dumped Qantas on an $8 million-a-year contract.

The Australian share market closed higher, rising slightly from Wednesday's four week high as Sonic Healthcare, together with some mining and energy companies dragged the index higher.

Local stocks managed a win today as Asian markets snapped a four day losing streak on news the Chinese government has proposed temporary price caps to tackle inflation.

As Rolls Royce revealed that some 40 Trent 900 engines would require replacement on airlines using A380s across the globe, Qantas Airways gave indications that the national carrier would need to replace up to 14 engines currently employed by its entire A380 fleet, which remain grounded at this time.

The Westfield Group (ASX:WDC), Australia's largest shopping mall landlord, has taken the e-commerce plunge with the launch of Westfield.com.au - an online mall for Aussie consumers.

Tasmanian gold miner BCD Resources hurdled another scare this week and escaped fresh threats of receivership as it secured a $10 million loan at the last minute which should keep its Beaconsfield mine site operating, its 200 employees working and its major lender grinning, for now.

Australian stocks are trading relatively flat at lunchtime in the East following a mixed lead from Wall Street and as losses from the banks cancel out gains made elsewhere on the market.

Australia's private pension funds First State Super and Health Super today announced an in-principle intention to merge, in a deal that could spark more consolidation as funds in world's fourth-largest wealth management market aim to cut costs.

Australia is poised to witness a wind fall of up to $132.9 billion as of the month of October, which mainly would come in the form of capital expenditures for lined up projects in the energy and minerals industry.

Amid ongoing debate on stricter policies, Commonwealth Bank of Australia (ASX: CBA) chief executive Ralph Norris today warned politicians that over-regulation of the banking sector could hinder competition.

Luxury retailer David Jones Ltd barely saw sales growth during the initial quarter of the current financial year yet the company maintained its upbeat forecast of up to 10 percent profit growth for the rest of fiscal 2011.

Global mining giant BHP Billiton Ltd may soon be opening up its port and rail network as it confirmed on Thursday that a rail haulage cooperation and port access agreement with junior miner Atlas Iron Ltd in the Pilbara region of Western Australia is being discussed and could be finalised very soon.

All of AXA Asia Pacific's (AXA.AX) independent directors have now backed AMP's $13.3 billion takeover bid from parent AXA SA (AXAF.PA) and AMP (AMP.AX).

U.S. blue chip stocks fell slightly Wednesday, one day after a major market rout, although retailers were doing well, offsetting sinking financials.

Wages in Australia rose by 1.1% over the third quarter, gaining 3.5% in the year ending September. Although less than the 1.2% increase the market have expected,

US consumer prices rose by a smaller than expected 0.2pct in October after edging up by 0.1pct in September.

Queensland-based Macarthur Coal Limited (ASX:MCM) has seen profits tripling in fiscal 2011 as the higher demand for steel-grade coal grows and supply situation tightens further.

Safety is paramount concern for giant mining firm BHP Billiton Ltd and more so in ensuring that people working on the company’s project sites are kept from being harmed.

Bankers today contested media reports that Australian lenders have increased their margins.

Giant telecommunication service provider Telstra Corporation has appointed emerging advertising agency DDB Group to handle the telco’s new brand campaign that it hopes would improve the company’s connections top its subscribers.

The Australian share market closed more than one per cent lower, led by sharp declines in the banking and resources sectors.