Vittorio Hernandez

The Australian share market improved slightly yesterday, with the All Ordinaries Index (XAO) rising by 14.3 points to 4,375 points. But the gains were short lived as more concerns over Greece and Spain hit European markets overnight and pushed euro and US stocks lower. Once again the likely hood of Greece leaving the Euro is front page news and the Spanish government overnight saying it would most likely have to bail out the 4th largest listed bank in Spain Bankia, to stop it for going under. Ba...

Australian Foreign Minister Bob Carr announced on Wednesday the launch of a Comprehensive Aid Policy Framework that will serve as guide to the growth of Canberra's foreign aid budget over the next four years. The launch is timely because of the increase of Australia's foreign aid budget to $7.7 billion in 2015-16 from the current $4.9 billion.

The Australian sharemarket improved slightly today, with the All Ordinaries Index (XAO) rising by 0.3 pct or 14.3 pts to 4375.9. Stocks were up by as much as 0.6 pct, but pulled back following some worse than expected economic data issued after 1.5 hours of trade. Yesterday was the biggest daily pullback for the local market in almost five months.

Although two of the richest persons in Australia often agree to oppose certain government policies such as the mining tax and the carbon tax, Andrew Forrest and Gina Rinehart are on the opposite sides when it comes to employment of foreign workers.

Yesterday, what a day on the market, the Australian share market slumped to a 3-week low, with the All Ordinaries Index (XAO) falling 97.8 points to 4361 points, its biggest one day slide since mid-December 2011. Markets in the Asian region also finishing in the red, the Japanese Nikkei 225 index off 2.7% to 9,119 and Hang Seng index ended 2.6% lower.

The future is still bright for Australia beef industry. According to a report released on Monday at the Beef Australia 2012 summit, the country's cattle herd is expected to reach 30 million heads this year. It would be the peak since the 1970s.

The three large Australian banks - ANZ, Commonwealth Bank of Australia (CBA) and Westpac - are no longer pursuing their application with Fair Work Australia (FWA) to remove weekend penalty rates.

In a brief break from the Reserve Bank of Australia (RBA) overnight cash rate cut of 50 basis points, Commonwealth Bank of Australia (CBA) was again in the headlines not for the less than 50 basis points cut it made on variable mortgage rates but for the resignation of one of the lender's key officials.

The Australian sharemarket slumped to a 3-week low, with the All Ordinaries Index (XAO) falling by 2.2 pct or 97.8 pts to 4361.6. The local market had its worst single day since mid-December last year. Most sectors fell by at least 1.5 pct, while energy and mining stocks plummeted by more than 3 pct.

The New South Wales (NSW) government said on Monday that it will push through with the North West Rail Link project in Sydney despite the rejection by the federal government of its request for a $2.1-billion financial assistance. It is now seeking private investors to finance the said project

Senior ministers in the Gillard administration had warned on Monday that the carbon tax is killing the government. Their warning includes suggestions to change the sales pitch for the tax and to redesign the pricing.

Because of the strong pressure Australian banks are facing to pass in full the 50 basis points overnight cash rate made by the Reserve Bank of Australia (RBA) on Tuesday, ANZ Bank Chief Executive Mike Smith complained on Sunday of the barriers that make it harder for companies to do business in Australia.

On Friday night the global markets were hit by concern and weak commodity prices. The Australian markets ended weaker with the All Ordinaries Index (XAO) down 35 points to 4,459 points.

Treasurer Wayne Swan will announce on Tuesday several budget measures that will help small Australian businesses cope with the impact of the strong currency and consumer caution. Among the measures that Mr Swan will announce is a loss carry-back provision which would allow local firms to claw back overpaid cost of tax in any financial year.

The Australian market fell for the second straight day today, with the All Ordinaries Index (XAO) down 0.8 pct or 35.1 pts to 4459.4. Despite the losses, local shares still ended around 0.5 pct higher for the week.

Westpac Banking Corporation announced on Friday that it will cut its variable home loan rates by 37 points, in the process keeping 13 points for the bank. However, the bank passed in full the cut in interest rate to business loans.

Victoria's unemployment rate of almost 5.8 per cent is expected to worsen as hundreds of workers in the Australian state lose their work.

The Australian share market lost ground yesterday, with the All Ordinaries Index (XAO) easing by 10.3 points to 4,494 points.

Australians continue to show a change in their drinking preference as they drank less alcoholic drinks and beer, and more of spirits.

Telecom competitors Vodafone and Optus have agreed to a joint venture project to build 500 more new mobile phone stations in the next four years to address network problems.

Westpac Banking Corporation reported on Thursday first-half net profit of $3.07 billion for the six months to March 31. While it is a 25 per cent decline compared to the same period a year ago, the slump was mainly due to a one-off tax consolidation following Westpac's purchase of St George.

The Australian sharemarket lost ground today for the first time in four sessions, with the All Ordinaries Index (XAO) easing by 0.2 pct or 10.3 pts to 4494.5. The mining, energy and industrial sectors all ended lower which put downward pressure on the broader market. Those three sectors make up around 37 pct of the Australian sharemarket.

South Australian Transport Services Minister Chloe Fox announced on Wednesday that the state has imposed about $218,000 fines on three Adelaide bus contractors because their buses are always late.

Australians continued to enjoy their passion for travel to domestic and foreign destinations which resulted in air carriers, Qantas and Virgin Australia, enjoying high passenger numbers for the month of March.

The Australian share market rose for the third consecutive day yesterday, with the All Ordinaries Index (XAO) edging higher by 7 points to 4,504 points. Overnight the markets were held back by the news that 11 European countries had now fallen back into recession, and the Eurozone unemployment rate had hit a record high of 10.9 pct.

1st Fleet, an Australian trucking company that operates in Queensland, New South Wales, Victoria and South Australia, locked out about 1,000 workers and ceased trading overnight without any warning on Wednesday night.

Two of Australia's big 4 banks have yielded to pressure from Treasurer Wayne Swan for them to reduce their mortgage interest rates following the May 1 decision by the Reserve Bank of Australia (RBA) to cut the overnight cash rate by 50 basis points to 3.75 per cent.

The Australian sharemarket rose for the third consecutive day today, with the All Ordinaries Index (XAO) edging higher by 0.2 pct or 7.5 pts to 4504.8. The XAO is one of the most popular ways to measure Aussie market performance. The index is comprised of the 500 largest listed companies locally, which make up over 95 pct of the Australian market. We hit the high of the day around the open, with shares up more 0.35 pct and shares were at their worst at midday.

The New South Wales (NSW) Business Chamber is pushing to limit weekend penalties for employees who work on Saturdays and Sundays which ups the rates of workers higher than ordinary employees.