Vittorio Hernandez

Local stocks have come off the four month highs reached yesterday, as investors await Chinese manufacturing data coming through later this afternoon. The Australian share market rallied in afternoon trade yesterday after the Bank of Japan announced it would extend its asset buying program to 80 Trillion Yen. US and European markets also surged on the efforts to stimulate Japan's economy and tackle its deflation concerns. At lunchtime in the East, the All Ordinaries Index (XAO) is down.

National Australia Bank (NAB) launched on Wednesday nabtrade, its own online share trading platform which will mainly target investors in self-managed superannuation funds.

While Australian retail giant Harvey Norman is one of the leading voices calling for lowering of the general sales tax on items purchased overseas, the company's own chief executive, who is also the owner's wife, ironically buys from online shops abroad to save money.

Australia's Department of Agriculture, Fisheries and Forestry placed on hold all sheep exports following the order by Pakistan authorities to cull 21,000 Aussie sheep tested positive for salmonella bacteria and actinomyces.

Clarence House announced on Wednesday that Prince Charles and wife Camilla will visit Australia, New Zealand and Papua New Guinea in November. The couple's trip, part of Queen Elizabeth's Diamond Jubilee celebrations, will be from Nov 3 to 16.

It was both a dark and bright day for gays and lesbians in Australia on Wednesday as Parliament rejected the same-sex marriage bill, while Liberal Senator Cory Bernardi resigned as parliamentary secretary for derogatory remarks he made against gay marriages.

Local stocks rallied in afternoon trade, after the Bank of Japan followed the US Federal Reserve and the European Central Bank in providing more monetary easing to stimulate the global economy. Stocks had been trading only marginally higher before the announcement from the BOJ, with the All Ordinaries Index (XAO) rising by 22.6pts or 0.5pct by close to finish at 4440.4, a four month high.

The Australian market opened slightly higher today but fell in and out of the red in the first few hours of trade. The by lunchtime the All Ordinaries Index (XAO) was only 7 points higher at 4,425 points.

After an independent review of the Fair Work Act, Workplace Relations Minister Bill Shorten is seeking feedback from the states on a proposal to limit penalty rates to 11 Australian public holidays.

Weak consumer spending continues to batter Australia's retail sector, causing a 40 per cent slump in profits for David Jones and some of the leading local retailers to considering moving out of the country.

Queensland miners have agreed to a compensation plan for the damage their dredging work cause to seagrass beds. The compensation would be used to protect the remaining healthy beds in other areas or restore damaged ones.

Pakistan is pushing through with the culling of 21,000 Australian sheep despite assurances from Canberra that the animals are healthy and a court injunction obtained by PK Livestock, the importer, which should temporarily save the lives of the sheep.

Immigration Minister Chris Bowen's visa granting powers are under question again amid the growing global uproar over the anti-Islam video posted on YouTube which caused the death of an American ambassador and injury to hundreds, including 17 people in Australia.

Following a weaker start to the day, the Australian sharemarket managed to gradually improve as the day progressed to end 0.1 pct or 4 pts higher to 4417.8. The miners, energy players and financials all lost ground today after leading the broader market higher yesterday.

Local stocks have retreated today, as the euphoric effects of the US Federal Reserve's latest efforts to stimulate the global economy start to wear off. Overnight US and European markets eased, while oil and gold prices also fell. In the early session, the All Ordinaries Index (XAO) is down 9.8pts or 0.2pct to 4412.

A study by the Australian Council of Superannuation Investors (ACSI) released on Tuesday identified the top 10 high-paid chief executives in the country. Number one on the list is BHP Billiton Chief Executive Marius Kloppers who earned $11.8 million in 2011 in wages alone.

Victorian Premier Ted Baillieu is on an aggressive campaign to court foreign investments, particularly Chinese, through an ongoing week-long trade mission to the Asian economic giant.

The Pakistani government ordered on Monday the culling of 21,000 sheep from Australia after the animals were tested positive for salmonella bacteria and actinomyces, and declared unfit for human consumption.

A modeling released Monday by the Minerals Council of Australia warned of a 5 per cent contraction in the country's economy due to the cost crisis that threatens to halt mining mega projects. To counter the threat, the council pushed the federal government to commit to controversial policies to bring back its competitiveness.

Britain-based Taji Mustafa from the Muslim political group Hizb ut-Tahrir flew out of Australia on Monday night, leaving behind a trail of controversy after the Opposition tagged him as a hate preacher and called for the cancellation of his visa.

The euphoria surrounding the US Federal Reserve's latest efforts to stimulate the global economy continued to impress local investors today. US and European markets rallied on Friday, with the Dow Jones Index and S&P 500 both hitting highs not seen since December 2007. Japanese markets were closed today for a public holiday, while China's Shanghai Composite Index fell into the red. By close, the All Ordinaries Index (XAO) edged higher by 11.6pts or 0.3pct to 4421.8, its highest level since...

While Australians prefer home-grown food over imported ones, the case is not true for furniture, health and beauty items, clothes, hardware and household appliances which Aussies prefer to buy imported ones due to lower cost and better value.

he Australian market opened a little weaker than expected today The All Ordinaries Index (XAO) rose by 10 points but by lunchtime it had lost a bit of ground and was only up 8 points to 4,418 points.

The Australian Fisheries Management Authority (AFMA) hit the Ombudsman over the findings that the agency broke the law by failing to exclude a controversial super trawler operator from an advisers'meeting that made fish quota decision which benefitted the trawler.

The anti-America rally over a video that allegedly depicted prophet Mohammed in a bad light and resulted in the death of an American ambassador in Libya on Tuesday has spread to Australia.

Clean up operations by agencies yield 11.3 tonnes of rubbish from Perth waterways and foreshores. More than 6 tonnes from the Swan and Canning Rivers were trash and 5 tonnes were timber and rubble from two days of clean up.

In a bid to boost the state economy, New South Wales Resources Minister Chris Hartcher said on Saturday that NSW is open to uranium exploration. Besides announcing the state policy, Mr Hartcher moved one step ahead by seeking expressions of interest in licences.

The Australian sharemarket improved strongly today following the U.S central bank's decision to stimulate the American economy. The All Ordinaries Index (XAO) rose by 1.2 pct or 50.4 pts to 4410.2. Thanks to today's improvements, the XAO is around 1.4 pct stronger today than this time last week and has had its best single day of trade since 27 July.

Rio Tinto (ASX: RIO) announced on Thursday that it awarded to NRW Holdings the contract to build the miner's Cape Lambert iron ore plant. The scope of construction work includes conveyor link earthworks, relocation of water pipelines and rail formation earthworks.