POLITICS & POLICY

A container ship carrying around 1700 tonnes of fuel has crashed into a reef off the coast of Tauranga. New Zealand Dive and Salvage general manager Howard Saunders says Rena looks to be "well stuck."

MORNING REPORT (7am AEDT)The US ISM services index eased slightly from 53.3 to 53.0 in September but remained over the 50 line indicating expansion of the services sector. New orders rose from 52.8 to 56.5. The ADP employment index showed that private sector jobs rose by 91,000 in September, above forecasts for a 75,000 gain. But planned job layoffs stood at 115,730 in September - a 2-year high.

International investors wanting to study possible metals and minerals investment projects in Australia but don't know where to find ample information may now turn to the Australia Metals & Minerals Industry Wall Map - 1st Edition.

The recent observations made by an environmental watchdog that the Canadian government is throwing away a hug sum of money on inadequately planned climate change programs indicates lack of political determination on the part of the ruling Conservative Party.

Residents at Queensland State are outraged on the improper handling and management of the Queensland government after it failed to inform residents of the toxic gas coming out from explosive blasts in Queensland's giant open-cut coalmines.

The Humane Society International called Wednesday for halting China's fur trade to Australia after learning that furs were coming from the raccoon dog, ABC Radio Australia reports.

To battle Australia's rising obesity rates, American psychologist Kelly Brownell suggested a tax on soft drinks at the 46th Australian Psychological Association's yearly conference on Wednesday.

The ongoing two-day tax forum in Canberra has attracted a lot of media attention because of the number of prominent people who are participating. However, one person is conspicuously absent from the media event - opposition leader Tony Abbott.

The services sector stayed in positive territory in September with the latest seasonally adjusted Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (Australian PSI®) down a slight 1.8 points to 50.3 indicating activity continued to expand in the month.

The Australian Dollar is trading just above USD0.9500 following another volatile night in all financial markets, with the highlight being Fed Reserve Chairman Ben Bernanke's address (testimony) to the Joint Economic Committee.

Saudi Arabia has accused another country of inciting Monday's second wave of rioting in the oil-rich Eastern Province that injured 14 people, including 11 security personnel.

Students taking a test for a Turkish scholarship were among at least 70 people killed in a suicide bombing attack near the ministry of education building in Somalia's capital on Tuesday.

Right now in New York City, Boston, Los Angeles, Chicago, Denver, Seattle, and a growing number of other cities, tens of thousands of protestors of all stripes and political persuasions are marching in protest of the corporate corruption that has infiltrated and taken control of the US government -- and the mainstream media (MSM), of course, has been virtually absent in covering this massive and escalating demonstration against the current state of US politics.

A senior representative of the United Nations (UN) Food and Agricultural Organization reiterated the agency’s call for countries around the globe to become more serious in safeguarding urban trees and forests since these are vital in lessening effects of climate change.

Treasurer Wayne Swan announced on Tuesday the fourth round of the national rental affordability scheme (NRAS) to cover another 17,000 homes across Australia.

The Australian share market closed 0.6 per cent lower, with investors starting to hope that the central bank would cut interest rates for the first time in a year next month. The local bourse opened almost one per cent down on a weak lead from Wall Street overnight. By the close on Tuesday both major local indices had made back some of their early losses, with the benchmark S&P/ASX200 index down 24.9 points, or 0.64 per cent, at 3,872.1 and the broader All Ordinaries index dropped 25.1 points, o...

Australian retailers on Tuesday expressed concerns with the Reserve Bank of Australia’s cash rate decision to maintain the cash rate at 4.75%.

Amidst the seeming negative effects it also carries, the ongoing Australian resources boom, according to Prime Minister Julia Gillard, is generally beneficial to the country and its positive impacts are set to deliver the goods in the years ahead.

Australian Prime Minister Julia Gillard on Tuesday assuaged fears the country might face an economic growth slowdown if China continues to slump in orders of Australia's natural resources.

More regulations are facing tobacco companies as the Australian government studies measures to curb sale of cigarette and tobacco products across the country.

MIDDAY REPORT (12.30pm AEDT)The Australian sharemarket is continuing to fall after a tough start to the new trading week yesterday. The ASX 200 index (XJO) is down 0.4 pct or 17.1 pts to 3879.9 while the broader All Ordinaries index (XAO) is 0.5 pct or 18.9 pts lower to 3941.8.

High-tech devices such as iPhones, iPads and camcorders topped the list of gifts that were given to New South Wales public officials. Next to the gadgets, also high on the list of bribe items masked as gifts were beach holidays, football tickets and gift vouchers.

New South Wales Premier Barry O'Farrell announced Tuesday new bus and train services for Sydney commuters beginning Oct. 23.

Economists said Tuesday that despite the stronger-than-expected international trade and building approvals figures for August, the Reserve Bank of Australia is unlikely to change the current cash rate.

Not long after announcements were made for the Nobel Prize for medicine Monday, the Nobel committee learned that one of its awardees has passed on just three days ago. An emergency meeting followed, after which the committee decided to give the award nonetheless, as it was "done in good faith."

Independent MP Rob Oakeshott has sought changes in Australia's general sales tax (GST) ahead of the two-day tax forum which begins Tuesday.

MORNING REPORT (7am AEDT)The US ISM manufacturing index rose from 50.6 to 51.6 in September, well above expectations centred on a result near 50.5. Production, employment and supplier deliveries all rose strongly. Construction spending rose by 1.4pct in August after falling by 1.3pct in July. And US car makers posted double-digit annual gains in sales in September with GM sales up 20pct and Chrysler up 27pct.

The "Occupy Wall Street" protest in New York continued on Tuesday even as similar demonstrations were held in Los Angeles, Chicago, Boston and other major cities in the U.S.

The European Union (EU) is amenable to making additional promises in dealing with climate change but these should be part of a more comprehensive global approach because their coalition is responsible for only 11 percent of emissions all over the world.