BUSINESS

Because of the rapid pace of growth of medical tourism, Australian insurers are starting to cover medical procedures done abroad. Yearly, about 25,000 Australians undergo cosmetic procedures overseas valued at $300 million, experts said.

AstraZeneca’s heart drug Brilinta prevents recurrence of heart attacks for a year.

Australian shares are falling for the fifth straight day with the ASX 200 Index down by 0.7 per cent. This takes the falls this week to 3 per cent; making it the worst week since June 2013 for local stocks. This is also only the third time in 12 months the ASX 200 has lost ground from Monday through to Friday.

Amid concerns about deflation and economic slowdown in some of the countries, Australia is posting gains in job growth.

While European equities continued to rally, the real story was in the FX space where the move made by the Swiss National Bank (SNB) surprised global markets.

The Swiss National Bank has removed its 3-year old cap of the franc against the Euro, sending the Swiss franc soaring against major currencies.

Local shares extended this week's losses, with the market again held back by heavy falls in the materials sector. A weak lead from Wall Street also weighed on investor sentiment. Overnight markets sold off on weak metal prices, US retail sales for December coming in weaker than expected and poor earnings results from large cap banking stocks.

Australian shares are sliding for the fourth day despite the creation of seven times more jobs than expected in December. The ASX 200 Index is down 0.6 per cent following falls in US markets overnight and weaker base metal prices.

The Nova Scotia Demand: Express Entry gives applicants the opportunity to settle down in Canada even without a job offer.

Falling oil prices may be impacting not only countries that produce the commodity but also oil-importing countries.

After rejecting the $975 million divorce settlement cheque that her former husband, oil billionaire Harold Hamm, offered last week, Sue Ann Arnall came to her senses and had the cheque cashed.

The 101-year-old chocolate company, Ernest Hillier, entered into voluntary administration with the appointment of Col Cordis this week as administrator. That would mean Australian may soon miss the confectionary products sold by the oldest chocolate-maker in the country under the brand names Hillier's and Newman's.

Weaker US retail sales helped reverse attempts to drive AUD/USD lower on the back of falling copper prices.

Volatility is feeding erratic trading; headlines such as 'meltdown', 'rout' and 'collapse' increase volatile trading and are adding to the overall trade pressure.

In US economic data, retail sales fell by 0.9% in December, well below expectations for a 0.1% fall. Excluding gas stations and autos, sales were down 0.3%. Import prices fell by 2.5% in December and export prices fell by 1.2%.

Australian shares faded this afternoon to post the biggest tumble in a week, with the ASX 200 Index (XJO) slumping by 0.9 percent to 5353. The local market has now fallen for three consecutive days - with equities dragged lower by weaker commodity prices and a negative lead from Wall Street.

The final report of results of investigations into what happened with AirAsia Flight QZ8501 will be released in 2016.

Australian shares are losing ground for the third day in what has been a volatile start to the session. The ASX 200 Index is down 0.1 per cent with weaker commodity prices and softer US markets not helping.

Oil producing countries are anxiously waiting for the global oil prices to bottom out. The commodity price has continued to fall in the recent months.

The Australian Dollar has remained within the recent 0.8100-0.8200 range yesterday.

Plenty of risk, plenty of uncertainty and a good dash of fear has welcomed the markets to 2015.

In US economic data, a survey of small businesses - the NFIB business optimism index - rose from 98.1 to 100.4 in December. The JOLTS job openings index rose from 4.83 million to 4.972m in November. And chain store sales were up by 3.8% in the latest week on a year ago, down from the 4.3% gain in the previous week.

The market has managed to recover some of its earlier losses to finish the session in the middle of the day's range - helped by better-than-expected Chinese trade data. The All Ordinaries Index (XAO) slipped 17 points or 0.3 percent to 5,382, while the ASX 200 (XJO) lost 18 points or 0.3 percent to 5,404. Eight out of the 10 sectors closed lower.

Australian shares are falling for the second day with a falling oil price holding back mining and energy sectors most. The ASX 200 Index is down 0.7 per cent following Monday's 0.8 per cent tumble.

Google has unveiled a working prototype of its self-driving Google Car in California. The vehicle looks like a little beetle pod with two large headlights and a nose at the front and rounded corners. Once ready, the car will be able to drive, stop for pedestrians, obey traffic signals, watch out for hazards - all without the need for a human driver.

Biogen has acquired Convergence for its portfolio of pain treatments and key drug for neuralgic pain.

Sanofi and Regenron have found that their Alirocumab treatment is successful in controlling bad cholesterol levels in patients.

Investors are cautiously watching the price of oil and its impact on global stock markets after supply glut led to a fall in the commodity’s price.

Oil prices have again been the stand out story overnight. Who breaks the stalemate and cuts production first, OPEC or US shale producers?