POLITICS & POLICY

Mexico City is close to approving a bill that would ban bullfights.

Adelaide, South Australia based oil and gas producer Beach Energy will be undertaking a convertible bond rights offer to generate a total of A$345 million or $364 million to fund its various project initiatives in the next two to three years, including a fully underwritten 1 for 8 entitlement offer to raise A$195 million and an offer of senior unsecured convertible notes to raise about A$150 million.

Global energy giant Chevron Corp.,announced on Wednesday construction works at its $29-billion Wheatstone liquefied natural gas (LNG) in Western Australia is well underway, with more than half of the gas already committed to Japanese companies.

After a quiet night on the overseas markets the Australian market opened a few points higher and has extended its rally throughout the morning. The U.S. markets were held back by weaker than expected home price data, a fall in consumer confidence for March and profit taking after Monday's big rally. Yesterday on the Australian Stock Exchange (ASX) key banks, health care as well as food and beverage retail stocks moved higher. Today most sectors are holding on to gains into the afternoon sessi...

Thailand is wooing struggling automotive companies in Australia to move their operations to the former. Visiting Thai Deputy Secretary General Duangjai Asawacintachit, who heads the Board of Investment, said Thailand's solid economic growth and free trade links to other Asian nations offered wide opportunities for Aussie firms.

The Australian government has confirmed reports that the United States eyes a territory of the country for its spy plane operations but clarified that the plan will not be implemented soon enough.

Cooper Brewery Chairman Glenn Cooper called for new laws to stop the duopoly in the supermarket industry and protect local owners of farmlands. He specifically blamed Woolworths and Coles, which have engaged in a price war to the detriment of Australian farmers

U.S. stocks erased a little bit of Monday's sharp run-up in a late-day drop led by declines in energy and financial stocks. While Monday's action had the look of end-of-quarter/month window dressing, Tuesday looked a little more like investors taking some money off the table after a strong run in the aforementioned sectors.

Treasurer Wayne Swan gave Australians a glimpse into the Gillard government's new policy direction on Asia in a speech he delivered on Wednesday at the Australia China Business Council in Melbourne. Mr Swan called on Australia's business community to make an inspired decision and create greater links with Asia.

Bell FX Currency Outlook: The Australian Dollar has opened lower this morning following a fall in Chinese Industrial Profits yesterday, which was the first drop in profits since 2009.

Fresh from his landslide win, new Queensland Premier Campbell Newman has indicated his firm commitment to steer the Sunshine state away from the red column by first divesting its interests on QR National Ltd.

Dominique Strauss-Kahn has been preliminarily charged with having links with prostitution rings in France. He's denied the charge and been let off on a 100,000 Euro bail.

Julian Assange has described his planned Senate run as a corrective measure that would deal with the 'flawed political environment' in Australia.

With the prospect of the Coalition heading the national government by 2013 growing by the day, Shadow Treasurer Joe Hockey appears ready to take on the job presently dispensed by Federal Treasurer Wayne Swan.

Federal authorities have decided to prevent Huawei Technologies of China from playing any active role in the $38 billion roll out of the national broadband network, citing internet security issues.

Steel production by India has risen 6.8 per cent to 63.894 million tonnes during the April 2011 to February 2012 fiscal period, the country's steel minister announced.

India's total coal output by the 2016-17 financial year has been forecast to jump 43 percent to 795 million tonnes (MT) from the estimated 554 MT in the current fiscal year, India's Minister of State for Coal told Parliament on Monday.

Positive coal sales generation during January and February has prompted China Shenhua Energy Co Ltd. to declare its 2012 sales volume could likely reach 425 million tonnes to exceed earmarked targets.

The Queensland vote over the weekend pointed to a likely Labor humiliation come the national elections next year and today that spectre was further supported by the latest Newspoll survey, which showed Prime Minister Julia Gillard succumbing to defeat from the gathering Coalition storm.

MORNING REPORT (7am AEDT)In a speech to business economists Fed Chairman Bernanke confirmed that the Fed still believes that accommodative policy is needed to make further progress in lowering the unemployment rate despite being encouraged that the rate has fallen to 8.3pct - "conditions remain far from normal, as shown, for example, by the high level of long term unemployment."

U.S. stocks surged Monday, largely erasing last week's losses, after a speech by Federal Reserve Chairman Ben Bernanke signaled the central bank is committed to a monetary policy that's helped buoy stocks for three years. The Dow Jones Industrial Average rose 130.67 points, or 1%, to 13,211.40. The S&P 500 Index gained 16.07 points, or 1.2%, to 1,413.18.

Bell FX Currency Outlook: The AUD has pushed through USD1.0500 after dovish comments from the Fed Chairman Ben Bernanke saw a selloff in the USD.

A Tibetan man has self-immolated himself in New Delhi on Monday at an anti-China protest rally. More than 600 protestors marched through the capital on Monday to show their dissent against China. The Tibetans are fighting for independence from Chinese rule.

Eager to cement an apparent budding friendship between India and South Korea, the two countries on Sunday announced plans to increase their annual bilateral trade to $40 billion by 2015.

Anytime you download a movie from Netflix to your television or turn on an Internet-based radio, you could be alerting people who you don't want or need watching you.

Retail giant Solomen Lew criticised on Monday the alleged mishandling by the Reserve Bank of Australia's (RBA) of the resources boom. He said the bank's board lacked an understanding of the broader Australian economy.

Can you imagine, for one horrifying second, a world with no sushi and no vodka? We can't. We can imagine a Hell of such description, yes. A fire and brimstone purgatory of infinite and unbearable pain. But not a world...at least not one in which we'd choose to live.

The rousing rejection suffered by the Australian Labor Party in Queensland on Saturday would necessarily lead to a federal government being bannered by the Coalition come next year's national elections.

Last week the Australian share market ended lower closing out a hard week for investors. However this morning the market seems a bit brighter thanks to higher commodity prices over the weekend and no negative news hitting the screens. At lunchtime in the East, the All Ordinaries Index (XAO) is higher by 4pts to 4,364.