BUSINESS

Dwelling approvals in the country dropped by 4.2 percent in November 2010 says the Australia Bureau of Statistics Building Approvals.

Construction activity in Australia in December continued to decline with only the engineering construction showing improvement.

Virgin Blue Group (ASX: VBA) and Skywest airlines have inked a 10 year strategic alliance to service regional Australia with Skywest operating up to 18 new Virgin Blue branded turbo prop aircraft to a number of existing and new destinations around Australia.

Local stocks have started the trading week on a muted note, following a weak offshore lead and a fall in commodity prices.

As major Australian retailers push for tax for online purchases, Australians are forecast to spend $36.8 billion by 2013 says PayPal Australia.

The Australian dollar opens up little changed form Friday’s level in the low 0.9900’s after the release of US employment data on Friday night which generally disappointed the market.

The financial sector led a drop in U.S. stocks Friday as an adverse foreclosure ruling for banks in a Massachusetts court gave investors another cause for concern, in addition to a disappointing jobs report.

US non-farm payrolls (employment) rose by 103,000 in December, short of expectations for a lift of 150,000.

The Aussie continues to be on the back foot against the Greenback as a raft of positive releases Stateside indicated that the US economy is heading in the right direction and the that F.O.M.C. will continue with QE2 over the next several months.

Properties found in the New South Wales region of Northern Rivers are selling well with Wollongbar becoming the most popular area.

The company announced it will return $800 million via a fully franked special dividend of just under $140 million, nd a proposed capital return of $661 million, subject to shareholder approval.

Government funded National Broadband Network operator NBN Co today reminded Australia's development industry of new arrangements to provide fibre broadband infrastructure in new estates.

Queensland’s floodwaters struck a blow to local tourism in addition to losses incurred from production losses in the mining and agriculture industry.

Australia’s north-east is expecting more heavy rainfall that will only worsen the already flooded state.

Equinox Minerals Ltd (TSX and ASX: EQN) has initiated compulsory acquisition procedures under the Australian Corporations Act to acquire all remaining shares in Citadel Resource Group Ltd. The company has a relevant interest of 90.59 per cent in Citadel.

Perth’s property market is on the upswing with building approvals increasing for the third month in a row based on figures reported by the Australian Bureau of Statistics.

Retail mogul Gerry Harvey remains committed on his stand to GST on Australian consumers’ internet-based shopping despite the backlash spawned by his campaign.

The Insurance Council of Australia (ICA) has re-affirmed the commitment and focus of the general insurance industry in assisting policyholders affected by the Queensland floods.

Home builders have joined forces to offer affordable housing in eight Satterley estates across Western Australia.

Former Fairfax Media executive Sankar Narayan has been appointed as Virgin Blue Holdings Ltd's (ASX:VBA) new chief financial officer.

Giant mining firm Xstrata has admitted that a fire broke out on its Hunter Valley coal mine site in New South Wales, forcing the miner to evacuate some 55 workers from down below and halt all activities until the cause of fire has been established.

The Australian automotive industry rolled into its second biggest year ever in 2010 as more than one million units of brand new vehicles hit the country’s roads with industry experts expressing confidence that gains would be sustained in the current year, at least in a moderate way.

The Aussie began local trade yesterday flirting with parity, however a greater than expected drop in Building Approvals and ongoing flood concerns saw levels plunge down to 0.9945 by early afternoon.

The Australian dollar continued to drift lower overnight as investors remained sidelined ahead of US employment numbers being released tonight.

U.S. stocks were mostly lower Thursday as retail and telecommunications shares lagged and euro zone debt worries prompted some investors to step back from the market's recent surge.

US comparable chain store sales rose 3.1pct in December from a year earlier, according to the International Council of Shopping Centres.

Property developers can expect to have a slow year ahead as the demand to renovate and build houses drop based on figures reported by Australian Bureau of Statistics.

Commodities bounced back in the U.S. upon release of better than expected December employment figures and good performance in the service industries, reflecting better economic prospects and growth in the demand for industrial, crops and energy.

Atlas Iron Ltd (ASX:AGO) says it is on track to meet 2011 goals as it exported 1.42 million tonnes of DSO during the December 2010 quarter.