BUSINESS

Among the major banks, National Australia Bank fell 20 cents to $27.64, ANZ lost 32 cents at $23.07, Westpac dipped 46 cents to $23.60 and Commonwealth Bank eased 45 cents to $52.20.

US import prices rose by 2.2pct in April, driven by a 7.2pct lift in petroleum prices. Export prices rose by 1.1pct. Economists had tipped a 1.8pct rise in import prices and 0.9pct lift in export prices.

The Insurance Council of Australia has released updated figures on how the general industry has responded to the enormous task of assessing over 118,000 insurance claims received as a result of the Queensland floods and Cyclone Yasi.

Recently introduced budget auto, the Chery J1, China’s first passenger car in the Australian market has been rated just three stars out of a possible five by the Australasian New Car Assessment Program (ANCAP).

The AUD has rallied overnight to be currently trading around USD1.0800 after a rebound in commodity prices lifted our local currency.

Whether it was simply mis-communication or over-eagerness on the part of the translator, the report last week that the Chinese government intended to invest in Spanish banks caused a small rift in Sino-European relations.

It was a quiet session to start the week yesterday however ongoing speculation of upcoming interest rate rises and a 1% increase in job advertisements last month meant the Aussie Dollar steadily gained ground throughout the Asian session.

Cisco Systems Inc. (CSCO) will hold a conference call for Wednesday, May 11, 2011 at 1:30 PM (PT), to discuss its third quarter fiscal year 2011 results, amid a management shake-up that began last month. Financial results will be released after the close of the market on Wednesday.

Gamers world-wide are in for another visual treat and experience as they can be the ones to lead the assault into the simulation videogame battleground set in the background of the late Al-Qaeda leader Osama Bin Laden's abode in Pakistan.

Canada-based gold explorer Golden Peaks Resources Ltd. has added a new project in its “strategic shift in focus to Indonesia” with the completion of its acquisition of Reliance Resources Ltd., the company said on Monday.

Singapore Telecommunications Ltd. (SingTel) has announced that its chairman, Chumpol NaLamlieng, is stepping down in July

- Ampella shares hit by concerns of unrest in Burkina Faso- Concerns overplayed in view of DJ Carmichael- Buy rating reiterated following recent share price weaknessBy Chris ShawAmpella Mining ((AMX)) is developing the Konkera gold project in Burkina Faso, a project stockbroker DJ Carmichael current...

China is both the world’s biggest producer of coal and the world’s largest coal consumer.

By Greg PeelThe Dow closed up 45 points or 0.4% while the S&P gained 0.5% to 1346 and the Nasdaq added 0.

Complaints from angry customers have forced retailer General Pants to censor its ‘sex’ campaign for fashion label Ksubi, which features teenage staff wearing ‘I love sex’ badges.

CME Group Inc. (Nasdaq: CME) today announced that its board of directors has authorized a return of capital to shareholders through a share buyback program of up to $750 million of CME Group Class A common stock, subject to market conditions. The buyback program will take place over a period of up to 12 months.

U.S. stocks climbed Monday as commodity prices recovered from last week's slump and a burst of deal activity helped overshadow concerns over Greek finances.

Hedge funds, as measured by the Greenwich Global Hedge Fund Index, gained across all major strategies in April. The GGHFI gained 1.69% compared to global equity returns in the S&P 500 Total Return +2.96%, MSCI World Equity +4.02%, and FTSE 100 +2.73% equity indices. 78% of constituent funds in the GGHFI ended the month with gains.

Omgeo, the global standard for post-trade efficiency, announced today that it has launched the Hedge Fund Operations Forum (HOF), an industry peer group for UK-based hedge fund operations professionals. Members of the HOF will meet on a quarterly basis to exchange ideas and knowledge of operational best practice implementation that goes beyond current regulatory requirements.

Hennessee Group LLC, an adviser to direct hedge fund investors, announced today that the Hennessee Hedge Fund Index advanced +1.36% in April (+3.85% YTD), while the S&P 500 advanced +2.85% (+8.43% YTD), the Dow Jones Industrial Average increased +3.98% (+10.65% YTD), and the NASDAQ Composite Index gained +3.32% (+8.32% YTD).

The Australian share market finished flat as investors backed off ahead of the release of the federal budget on Tuesday. The benchmark S&P/ASX200 index was up 13.8 points, or 0.29 per cent, at 4,756.8 points, while the broader All Ordinaries index was up 15.6 points, or 0.32 per cent, to 4,831.7.

Standard & Poor's downgraded Greece's long term-credit rating from B to BB-minus, citing that it saw an increased risk that Greece will need to restructure its debt. S&P said its projections suggested that a 50pct reduction in principal debt could be needed to restore Greece's debt burden to a sustainable level.

The Senate’s second interim report into milk pricing has acknowledged the customer benefit of lower milk prices - and that such benefits should not be dismissed lightly.

US non-farm payrolls rose by a much larger than expected 244,000 in April - marking the biggest increase in 11 months. The private sector created 268,000 jobs, with jobs growth in the retail sector (+57,000) marking the largest monthly increase in over a decade. However the jobless rate did rise from 8.8pct to 9.0pct in April.

A planned one-hour strike by more than 1,000 engineers is expected to delay Qantas Airways’ flights Friday at airports across Australia.

Aircraft engineers at Qantas plan a one-hour work stoppage on Friday that will launch what they intend to be a series of industrial actions against the airline.

Google Inc. (GOOG) failed to overturn a ruling by a Belgian court that that blocked the world's number one search engine from publishing links to local newspapers on Google's online news service.

A barrier to financial literacy is the use by some financial planners, fund managers and listed companies of unnecessarily complex language when communicating with their investors.

LastPass has withdrawn its command for all its users to reset their master passwords due to a possible database breach.