Vittorio Hernandez

The Opposition had admitted that it would take them some time to repeal the carbon tax if the Coalition wins the 2013 election in Australia. That means despite the promise by Coalition leader Tony Abbott, Australian businesses would be paying the carbon price of $23 per tonne, which is passed on the consumers, at least for another 12 months.

The Australian sharemarket edged higher today for the fifth time in six sessions. The All Ordinaries Index (XAO) rose by just 0.2 pct or 7.4 pts to 4290.1, receiving a boost by some better than expected economic news earlier in the day. Despite the gains, investors still seemed cautious to overcommit to markets ahead of the all-important European Central Bank (ECB) meeting tonight. ECB President, Mario Draghi last week hinted at stimulus and now has much to live up to.

The Australian share market lost some ground for the first time in five trading sessions yesterday. Overnight most European markets moved higher as investors positioned themselves ahead of the European Central Bank (EBC) meeting tonight. US markets were only slightly lower before the outcomes of the 2 day meeting of the US Federal Reserve (FED RES) were revealed. Unfortunately the FED RES did not give investors what they were expecting. The views of the Fed members were in line with our current ...

A three-man panel released on Thursday its first review of the Fair Work Act. The panel said that despite the criticism by business of the legislation, the act was working as intended and did not decrease competitiveness or caused excessive cost increase.

Despite the drought in different parts of the country, Australia still managed to export in the last five years $216 million worth of water. Data from the Department of Foreign Affairs and Trade (DFAT) said the water exports were made up of natural, mineral, aerated, flavoured and sugared water, snow and ice.

Nature is returning to Australians the trash they carelessly leave behind in the country's beaches. Reports said that over 4,500 pieces of rubber footwear were washed up in a Queensland beach.

Although electricity has been brought back to India a day after a massive blackout caused darkness to 620 million Indians, the south Asian country is expected to continue to grapple with power problems in the next two decades.

Major changes were made in Australia's union movement after the president of the scandal-rocked Health Services Union (HSU) resigned on Wednesday. To make his departure from the union more dramatic, HSU President Michael Williamson quit via a text message.

The Australian sharemarket lost some ground for the first time in five trading sessions today. The All Ordinaries Index (XAO) eased by 0.2 pct or 6.7 pts to 4282.7. Two worse than expected economic reports issued in China kept the market in negative ground for much of the day.

We saw a big turnaround in market sentiment overnight. The excitement of more central banks stimulus was washed away by end of month trading and concern over weak employment and sales numbers out of Europe. European markets are still awaiting the outcome of The European Central Bank (EBC) meeting on Thursday. Overnight the news that the, 17 nation, Eurozone saw its unemployment rate climb to a new Euro-era high of 11.2% hit the markets hard.

Roy Hill Holdings, owned by Australia's richest woman Gina Rinehart, signed its first sales contract with a Chinese steelmaker to provide iron ore. Roy Hill inked in Beijing on Thursday the agreement with Shougang Group, one of the largest steel companies in China.

Based on an assessment of the cost of generating electricity using 40 different technologies until 2050, a report released on Tuesday identified nuclear and wind power as competitive energy alternatives to coal-fired power.

In a bid to restore business confidence in Australia, National Australia Bank (NAB) Chief Executive Officer Cameron Clyne insisted the country has a 10-speed economy, not a two-speed economy.

In an apparent confirmation that Australia's mining sector is moving on a slower lane, mining giant Rio Tinto (ASX: RIO) plans to cut jobs in Melbourne and close an office in Sydney.

"This looks even worse than it would normally because there's an impression that India's economy is falling apart right now," a finance executive said.

The Australian sharemarket edged higher today for the fourth straight session, following strong gains in European markets overnight. The All Ordinaries Index (XAO) rose by 0.5 pct or 22.5 pts to 4289.4.

Once again European market rallied higher overnight, ahead of the outcome of The European Central Bank (EBC) meeting on Thursday. Then the market is expecting the ECB will announce new stimulus measures for the European economy. The US markets lost a little ground by the close as investors held back from buying ahead of the outcome of the US Federal Reserve´s 2 day meeting that kicks off later tonight.

Thanks to Queensland's public service cuts, finding a parking space in Brisbane's central business district is no longer a problem. Besides the lesser number of public servants reporting for work, fewer Queensland residents go to Brisbane for business.

There appears to be some truth to warnings from industry experts that the mining boom is headed for a slowdown. One evidence is that a new report released on Tuesday found that only one-fourth of Australian mining firms plan to invest in major projects in .the next 12 months.

Exxonmobil announced on Monday that it has started to drill for natural gas in Papua New Guinea (PNG) as part of its $15.7-billion PNG LNG venture. The drilling is at the Hides natural gas field at PNG's highlands.

Using the half glass point of view, Opposition leader Tony Abbott insisted on Monday that despite recent survey results showing more acceptance of the carbon tax, many Aussies still dislike the $23 per tonne carbon price.

On top of losing her court bid to keep details of her family court feud secret, Australia's richest woman, Gina Rinehart, was ordered on Monday by the Court of Appeal to shoulder the legal bills of her three estranged adult children in the amount of $250,000.

The Australian sharemarket improved for the third consecutive trading session today, with the All Ordinaries Index (XAO) up 0.8 pct or 32.5 pts to 4266.9. Almost all sectors ended the day higher, with the exception of the energy players which ended largely flat.

Once again global market rallied higher on Friday, boosted by renewed expectations that The European European Central Bank (EBC) will announce a new form of stimulus for the European markets when it meets on Thursday. On Friday night the German Chancellor Angela Merkel, French President Francois Hollande and Italian Prime Minister Mario Monti all agreed more needs to be down to help stabilise the markets and the Euro. The market is now expecting this will mean that the ECB could resume its bonds...

While American households suffered a 30 per cent decline in their wealth for the six-year period 2004 to 2010, Australian households enjoyed a 20 per cent increase for the same time frame.

Residents of South Canberra are opposing the moves of the National Capital Authority (NCA) to create an embassy row at a parkland in the suburb of Yarralumla. The NCA is eyeing the land on Stirling Park near the Old Canberra Brickworks, which residents said should be preserved.

Due to soaring energy prices because of gas shortage caused by the export of coal seam gas (CSG) to Asia, Queensland residents are clamoring to reserve 15 per cent of the state's gas reserves for domestic use.

Eurogroup President Jean-Claude Juncker said the eurozone and the European Central Bank agreed to work together to save the bloc's single currency. The eurogroup is composed of finance ministers of the eurozone.

A second survey in less than one week and barely a month since the Gillard government started to collect the controversial carbon price of $23 per tonne would put a smile on Prime Minister Julia Gillard's face and a frown on Opposition leader Tony Abbott's. The report by Nielsen, released Monday and two days short of the one-month mark of the levy, said opposition to the carbon tax has been easing. Similar findings were reported by the Climate Institute last week.