MARKETS

The US ISM services index rose from 55.2 to 56.0 in February, the highest level in a year and above forecasts centred on result near 55.0. The exports sub-component of the index hit the highest level in almost six years. The Redbook chain store sales index was up 2.2pct in the latest week on a year ago.

On the 5th of February, the survey by the British Retail Consortium indicated that the UK retail sales increased in February at the fastest rate in about three years. The latest figures suggested that consumer confidence was boosted as UK customers went out to buy clothes, home furnishings and electronics goods.

On the 4th of March, HSBC Holdings reported a fall in its full year preliminary profit for the year ended December 2012. The bank cited debt revaluation and the US related money-laundering fine as some of the major determinants which led to declining profits.

By Greg PeelThe Dow closed up 125 points, or 0.9%, while the S&P gained 1.0% to 1539 and the Nasdaq added 1.

Tuesday saw a generally positive session for regional stocks in the aftermath of Monday's selling. Investors continue to keep a wary eye on the Shanghai Composite index. From a technical perspective the Chinese index appears vulnerable given its 3.7% decline on Monday.

Working people tired of spending their whole day in front of the computer or assembling parts in a factory could try their options in getting a dream job. That dream may come true for young workers who would join Tourism Australia's Best Job in the World contest launched on Monday. The agency will award very alluring jobs to six winners of the competition in its bid to attract more younger tourists to the land down under.

Kim Dotcom, the owner of the shuttered Megaupload file sharing site, has plans to launch an initial public offering for his new site, Mega, in the next 18 months. The IPO is seen as an effort to gain more legality in his operations which has been shut down by police over charges of copyright violations.

The local share market is performing very strongly at lunchtime in the East, clawing back from yesterday's heavy losses which were exacerbated by concerns out of China and the fact 22 listed companies traded without rights to their dividends.

By Andrew NelsonFebruary might not have been a busy month as far as uranium volumes go, but it sure was an eventful month.

Australian dollar makes a tepid recovery ahead of the RBA board meeting this afternoon.

- Dun & Bradstreet report negative jobs growth- High operating costs keeping Oz Business at bay- Capital spending lowest level since September 2011- Cash flow seen as a major issue By Andrew NelsonAustralian businesses are increasingly putting off investments as the cost of doing business continues ...

The Dow Jones Industrials are again trading at over 14000. The S&P 500 is prepared to make an attack run on 1600. Weary cash, tired of sitting on the sidelines waiting for something of value to come along, is off the bench and into the game. And the game itself is at an interesting turning point.

No major data was released in the US overnight, with most investors were watching Vice Chairman Yellen's speech to the National Association for Business Economics (NABE). She reiterated Chairman Bernanke's view that a hasty end to easing could backfire. This added additional weight to the earlier comments and alleviated 'liquidly dependant' fears sparked on February 21. Professor Yellen's speech helped all three major US indices finish in the green as they did on Friday after Bern...

It seems that the UK government is in need of working out an alternative energy "plan B" provided that new nuclear power plants are not constructed by 2013, according to the Energy and Climate Change Committee. It was underlined in a statement that a failure to build them in 10 years would make it undeniably hard to meet goals, including reduction of carbon emissions.

China´s Shanghai Composite share index slumped by 3.7pct on Monday in response to Friday´s decision by state authorities to tighten restrictions on housing finance. China´s CSI300 index lost 4.6pct, the biggest drop since November 2010. Hong Kong´s Hang Seng index fell by 1.5pct.

By Greg PeelThe Dow closed up 38 points, or 0.3% (37 points shy of the high), while the S&P gained 0.5% to 1525 (first up-Monday in 2013) and the Nasdaq added 0.

On the 28th of February, International Airlines Group informed that it reported a net loss worth €943 million after battling through restructuring charges from its Spanish division Iberia. In addition, the company is planning to downsize its workforce by 3,800 people at its Iberia division in order to reduce costs.

There's a bit of friendly biffo going on in the office over China's economy. We think the country has deep structural problems, is horribly unbalanced and is about to suffer an almighty credit-induced hangover. For Australia, the fallout won't be pretty.

The stock market fell 27% in a single day. Bank of America suspended ATM payouts and JP Morgan applied for bankruptcy protection. Citigroup defaulted on its bonds and Deutsche Bank shares weren't allowed to trade on Europe's stock markets after its shares fell 86% on America's stock market.

Well, if we focus on the economy for a moment (a quaint notion) then the story for Australia in 2013 is what will replace the mining boom.

Stocks are on the rise. Gold is on the rise. Bitcoin is on the rise. Everything is up...up...and, away!

More embarrassing leaks of Hope Welker's broken personal life came out on Monday amid reports that financial hardship caused the second youngest daughter of Australia's richest person, Gina Rinehart, to drop the lawsuit she filed against her mother in 2012.

Aussie market hit by weak metals and dividend payments. US markets were hit by lacklustre trading as investors waited to see what would happen to the planned spending cuts in the US. By the close Wall Street closed slightly higher boosted by better than expected economic data and end of week buying. European Market hit by falls in key banking stocks and the news Eurozone unemployment had hit 11.9% in January.

On the 28th of February, Rio Tinto Plc informed that Chris Lynch, a former BHP Billiton Ltd. executive, was named its new chief financial officer. Chris Lynch will replace the much-respected and committed employee Guy Elliot who informed about his intention to step down back in July 2012.

Even though many years have passed since Frank Sinatra's song New York, New York had its debut, its verses are still actual. Certainly, New York can be described with many words but homogenous. The city, which seems to be magical as it lures businessmen, tourists and those who want to just simply live there, is full of opportunities also for business.

The Australian dollar has started the day's trade above 1.0400 after a brief dip on Friday night into the high 1.0300's.

Friday night saw both the Dow and the S&P 500 finish in the green, with the Dow rising to its highest level in five years.

The US ISM manufacturing index rose from 53.1 to a 20-month high of 54.2 in February, ahead of forecasts for a result near 52.5. US construction spending fell 2.1pct in January. Consumer sentiment rose from 76.3 to 77.6 in February. US vehicle sales rose from 15.23 million to 15.38m in February, above forecasts. US personal income slumped 3.6pct in January (forecast -2.2pct) but consumption rose 0.2pct.

Gina Rinehart, Australia's richest person and once the world's richest woman, may have lost last week the Rhodes Ridge iron ore mine to Wright Prospecting, but over the weekend she won a more important battle.