Vittorio Hernandez

We all know that time apart makes the heart grow fonder. Based on this thinking, investors should have celebrated today due to markets improving for the first time in five trading days. The mining sector lost a little ground, however all other regions of the market recorded at least modest gains. The All Ordinaries Index (XAO) ended 0.7 pct or 27.7 pts in the back to 4084.

Due to survey results that point to a likely defeat of the Australian Labor Party in the 2013 election, the party is tapping more into technology to win more votes. ALP leader and Prime Minister Julia Gillard urged Labor MPs to tap mummy bloggers on social networking sites such as Facebook.

A new McKinsey report released on Tuesday showed that there is widespread pessimism among business leaders over the prospects of the global economy.

The local share market is picking up a little following four sessions of losses, with the All Ordinaries Index (XAO) up 21.8pts or 0.5pct to 4078.1 at lunchtime in the East. There was a little bit of investor apathy in Europe overnight ahead of yet another European Union summit to discuss the region's debt crisis while US markets rose on upbeat housing data.

Risking penalties for defying a New South Wales Industrial Relations Commission (NSW IRC) order, about 50,000 state teachers struck on Wednesday to protest new education policies.

With less than a week before the Gillard government starts the collection of the $23-per tonne carbon tax, the Opposition is using all means to discredit the tax. The Coalition strategies include tapping small Australian businesses to post fliers that apologises to customers for hiking their prices on account of the carbon tax.

The power of Australia's richest woman, Gina Rinehart, was immediately felt by Fairfax Media even before she steps into the company's boardroom. A day after Ms Rinehart threatened to sell her shares of the company, Fairfax shares declined 3.5 per cent and closed at 55 cents.

Local stocks closed in negative territory for a fourth consecutive session today, although managed to fare better than expected given the weak offshore lead. US and European markets slumped overnight after ratings agency Moody's downgraded the Spanish banking sector, and after Cyprus and Spain formally requested European aid. The All Ordinaries Index (XAO) closed down 15.7pts or 0.4pct to 4056.3 while the S&P/ASX 200 Index (XJO) fell 14.5pts or 0.4pct to 4013.3.

Yesterday the local market closed lower, The All Ordinaries Index (XAO) lost 22 points to 4,072points.

Australia's four largest banks now have less reason not to pass in full to borrowers any future overnight cash rate cuts that the Reserve Bank of Australia (RBA) would make. It is because the latest yearly survey of the Bank for International Settlements have released Tuesday stated that ANZ, Commonwealth Bank, National Australia Bank and Westpac topped the list of profitable banks in the world.

Members of the New South Wales Teachers Federation will defy the NSW Industrial Relations Commission (IRC) order and stage a strike on Wednesday, June 27. The strike is expected to close 2,200 state schools and affect 760,000 NSW students.

Majority of submissions to a Senate committee that investigated marriage equality are in favour of a legislation that would permit gay couples to marry. Almost 60 per cent or 46,000 submissions that the committee received backed the legalisation of same-sex union.

To indicate that she is really serious in her desire to become a director of Fairfax Media, Australia's richest woman threatened to sell her 19 per cent stake in the company unless its board makes her a director.

Local stocks have started the trading week in the red, as investors opt to stay out of the market ahead of a key European Union summit later this week and square their books ahead of the end of the financial year. The All Ordinaries Index (XAO) today lost 21.8pts or 0.5pct to 4072, while the ASX 200 (XJO) lost 20.4pts or 0.5pct to close at 4027.8.

BHP Billiton (ASX: BHP) is making Western Australian history by moving headquarters to Brookfield Place Tower. With 3,000 BHP employees, the relocation is the state's largest office transfer in its history.

Due to the threat posed by foreign airlines that buy shares of Australian air carriers, the Opposition has suggested amending Qantas's ownership law to achieve a more level playing field for the losing flag carrier.

ANZ Bank caught the country's banking industry thrice in 2012 after it first went against the Reserve Bank of Australia's (RBA) policy to hike its standard variable mortgage rate when the central bank kept the overnight cash rate on hold. In the second instance, ANZ kept a part of the cash rate cut and slashed the interest rate below the RBA rate reduction.

The sudden resignation of Liberal Senator Mary-Jo Fisher on Thursday over her second implication in shoplifting would not leave a void in the Senate. The party's State Council is scheduled to meet on Tuesday, July 27, to discuss a possible replacement for the legislator diagnosed with mental ailment.

The Australian share market lost ground on Friday, with the All Ordinaries Index (XAO) falling 1% or 40 points.

Public appetite for more details about the Rinehart family feud will be satisfied on Tuesday, June 26, with the release of the unauthorised biography of Gina Rinehart, Australia's and the world's richest woman.

The Australian sharemarket lost ground today for the third time this week, with the All Ordinaries Index (XAO) falling 1 pct or 39.9 pts to 4093.8. Despite today's slump, the Aussie market has actually only eased by 0.32 pct over the past five days thanks to a strong performance on Monday.

It was a perfect photo opportunity - a former prime minister and other business executives sleeping on the sidewalk. The event was not a reversal of fortunes, but the yearly Vinnies CEO Sleepout which aims to help the homeless.

The Australian share market remains under pressure today, but fortunately isn't falling as hard as futures markets had predicted following a sell-off on global markets overnight. European and US markets fell in response to downbeat economic data out of America and China. After the bell, ratings agency Moody's downgraded 15 global banks adding to the negative sentiment. At lunchtime in the East, the All Ordinaries Index (XAO) is weaker by 43.1pts or 1pct to 4133.7.

Australia's richest woman, Gina Rinehart, may be busy seeking a seat in Fairfax Media board, but she has not left unattended the more lucrative mining sector, which catapulted her to become the world's richest woman. On Thursday, she invested $5 million in International Coal's (ASX: ICX) coal venture in Queensland.

The International Air Travel Association's (IATA) warning at last week's Beijing meeting that more large air carriers are expected to collapse in the next 12 months may come to pass after more turbulence continues to batter Australian flag carrier Qantas.

Embattled MP Craig Thomson has had two hits in his favour over Health Services Union (HSU) fund misuse charges he is facing. First, the former prostitute who initially claimed that Mr Thomson was her client recanted her statement two weeks ago. On Thursday, a court sacked HSU whistleblower Kathy Jackson who was instrumental in filing of charges against the MP.

Scandals continue to plague Australian legislators. The Craig Thomson and Peter Slipper controversies have yet to subside, but on Thursday the spotlight was again on Senator Mary-Jo Fisher who quit her post effective Aug 10, 2012.

While Australian MPs are still debating whether to recognize same-sex unions in the country, the Australian Bureau of Statistics have given gay couples de facto recognition by including same-sex couples in results of the 2011 census which it will release Friday morning.

Despite a stronger start to trade this morning, the gains fizzled with the All Ordinaries Index (XAO) slumping by 1 pct or 43.1 pts to 4133.7. Around ¾ of all companies ended either flat or in the red by close of business.