BUSINESS

The Australian share market ended flat today as investors digested a shock interest rate hike from the Reserve Bank and awaited key US elections and the start of the two day Federal Reserve meeting.

Macquarie Group dismissed allegations that a leasing arm of the financial firm actively took part on the questionable telecommunication equipment rentals deals offered to unsuspecting small business owners by 28 telco companies in 2008.

While fresh traffic data on southeast Queensland showed that travel time movement barely surged from the past three years, the state government is convinced that the latest figures represented growing demands from the area’s burgeoning population.

Network Ten (TEN.AU), has announced that it would restructure the composition of its Board of Directors as concerns of competitive disruptions arose recently with the entrance of James Packer and possible co-investor Mr. Lachlan Murdoch into the company.

Global consumers, mainly car aficionados in the United States, will have to bear a year of waiting before they could get their hands on the electrically-powered Nissan Leaf as all units so far shipped out were sold out as of this week.

The billion-dollar Queensland LNG projects would further boost job prospects in the state but would also push up the value of real estates that could leave first home buyers reaching deeper on their pockets.

Microsoft reiterated that it will not be giving political contributions to "527 Groups" as doing so is opposed to the company's political principles.

Sydney Airport operator MAp Group has reported a 7 percent increase in earnings for the year attributing to passenger traffic, which also rose 19.5 percent.

The Australian stock market is gathering mixed leads in today's trading day as the last-minute decline in the Wall Street trading will have some influence, but analysts are more optimistic.

Analysts are projecting that the Curtis Island liquefied natural gas (LNG) project in Queensland by the British Gas Group could exceed the previously headlined cost of $US15 billion and even surpassed that of Santos’ Gladstone cost estimates of close to $US19 billion.

The AUD has opened slightly lower this morning, after rallying towards USD0.9900 overnight.

U.S. stocks slipped in late trading Monday as jitters ahead of U.S. midterm elections and expected moves from the Federal Reserve prompted traders to duck out of a market whose long climb is now raising some eyebrows.

Speculation on Monday the Bank of Japan intervened in currency markets sent the Aussie down to an intraday low of 0.9810 as the greenback strengthened against the Yen.

The US ISM manufacturing index hit a five-month high in October, rising from 54.4 to 56.9.

Kate Vale, Google Australia's Youtube chief and Lars Rasmussen, Google Wave's co-founder, will both be leaving their posts within the Internet company.

Stronger bank and mining stocks saw Australian shares post surprising gains on Monday ahead of Tuesday's interest rate decision and a crucial mid-week meeting of the US Federal Reserve.

Australia's house prices recorded their smallest quarterly rise since early 2009, reinforcing speculations the Reserve Bank of Australia will keep interest rates on hold this week.

Australian stocks have started the trading week on a high, after the Dow Jones Index posted its best October in four years.

Ten Network Holdings Limited (ASX: TEN) says it notes recent media speculation about discussions between it and Mr James Packer and Mr Lachlan Murdoch following the announcement of CPH's acquisition of approximately 18 per cent of the issued capital of Ten Holdings.

Manufacturing activity still contracted albeit at a slower pace in October, amid persistent pressure from a strong Australian currency and sluggish domestic demand, a survey has found.

The AUD has started the week in the mid 0.9800's as the USD weakened on Friday night after the release of the Q3 GDP figure of 2%, which was in line with expectations.

U.S. blue chip stocks edged higher Friday while the Standard & Poor's 500 index fell slightly in a quiet end to a strong October as investors bided their time before the coming week's Federal Reserve meeting and midterm elections.

The US economy grew at a 2.0pct annual pace in the September quarter, in line with market expectations. Encouragingly consumer spending grew at a 2.6pct annual pace.

The Australian share market closed lower on Friday as a slew of upcoming offshore events led to renewed caution among investors.

Amidst its on-going struggle on the domestic front, national carrier Qantas Airways Ltd maintained that the local market is seeing a turnaround while its international operations head the same way but remain patchy.

The Australia Pacific LNG consortium of companies has advised relevant landholders, the Queensland Government, Western Downs Regional Council and Maranoa Regional Council of the results of chemical analysis of samples taken from water bores on properties where exploration wells that have recently been hydraulically fracture stimulated in the Surat Basin, west of Miles.

Self-employment is fast-emerging as a more popular alternative for Australian workers at this time as the new list of the country’s top employers also yielded a trend which shows that seven out of 10 workers would not think twice in ditching their current employment for a new placement.

The Australian share market is trading slightly lower after a mixed session in Wall Street.

New financial aggregates data from the Reserve Bank of Australia show that credit demand remains soft.