Vittorio Hernandez

The Australian sharemarket improved for the first time this week today, with the All Ordinaries Index (XAO) gaining 0.8 pct or 36.9 pts to 4388.1.

The Cattle Council of Australia (CCA) has expressed its opposition to halt live meat exports to Indonesia following the release of a new video of animal cruelty in the south east Asian nation. CCA Vice President Peter Hall said in lieu of a blanket ban which would be bad for the cattle industry, new procedures could identify the erring slaughterhouse.

More Australian jobs would likely be placed on the chopping block because of the difficult business environment across the country. This development may reverse the small gains made in January when the country's unemployment rate slightly went down to 5.1 per cent from 5.2 per cent in December 2011.

The debate over out-of-cycle interest rate increases by major Australian banks would likely be revived again when the Reserve Bank of Australia (RBA) releases a report of Friday which would show the widening gap between standard home loan rates and the RBA overnight cash rate.

The Australian share market has started the day's trade on a positive note, after the US Dow Jones Index closed above the 13,000 point level overnight for the first time since May 2008. In early trade, the All Ordinaries Index (XAO) is up 27.7pts or 0.6pct to 4378.9.

Commonwealth Bank has restored the services of its ATMS and EFTPOS facilities after an outage at about 11 p.m. on Tuesday that affected its system across Australia. The cash machines and payment facilities were back online at about 8:30 a.m. Wednesday although some cards continue to experience problems.

The Australian sharemarket ended a touch lower today despite a stronger start to trade. The All Ordinaries Index (XAO) fell 0.1 pct or 3 pts to 4351.5. The mining, energy and financial sectors ended in the red today, which was enough to drag the XAO into the red.

Besides using the Qantas labor row to its advantage, Virgin Australia aims to get a larger share of the corporate passenger market by offering premium lounges.

Although online sales accounted for only 5 per cent of total retail spending in 2011, it grew at an incredible pace of 29 per cent while traditional retail store sales went up by a mere 2.5 per cent.

The U.S. Navy has ordered two more join high speed vessels (JHSV) or catamaran worth $321.7 million from Australian shipbuilder Austal. With the two new orders, the total catamaran orders awarded to Austal has reached $1.45 billion.

After a positive start, the local share market is trading flat at lunchtime in the East, weighed down by losses in the financial and energy sectors, and some disappointing earnings results. The All Ordinaries Index (XAO) is weaker by 3pts or 0.1pct to 4351.5.

There are speculations that Australian Prime Minister Julia Gillard, who just got a fresh mandate from her party mates in the Monday Australian Labor Party leadership ballot, will initiate a cabinet reshuffle. The revamp reportedly would take into account the stand taken by Labor MPs with cabinet positions in the lopsided poll.

The Australian sharmarket lost ground for only the second time in five sessions, with the All Ordinaries Index (XAO) falling by 0.8 pct or 34.5 pts to 4354.5. The good news is that last week was the best week of 2012 to date with shares improving by 2.7 pct.

Fitch Ratings downgraded over the weekend the AA credit ratings by one notch of three large Australian banks. As a result the long-term issue default rating of Commonwealth Bank, Westpac and National Australia Bank is now AA- which reflects their weaker funding profile.

For car maker Holden to maintain its two-model manufacturing facility in Adelaide, the firm needs $250 million assistance from the government, Holden Chairman and Chief Executive Mike Devereux said on Sunday.

After a flat start, the Australian share market is trading lower at lunchtime in the East, following a vote on the Australia Labor Party leadership. Julia Gillard remains Australia's Prime Minister, beating former Prime Minister Kevin Rudd 71 votes to 31 in a Caucus room vote this morning. The All Ordinaries Index (XAO) is down 24.5pts or 0.6pct to 4364.5.

The risk of the closure of Caltex Australia's Sydney and Brisbane refineries became higher after the oil giant announced on Monday $852 million loss for 2011. Caltex is currently reviewing its operations which could result in the axing of 800 refinery jobs.

It was a lopsided victory for Julia Gillard who handily beat Kevin Rudd 71 to 31 for the leadership post in the Australian Labor Party on Monday morning. With the votes, Ms Gillard would also retain her position as Australian Prime Minister.

The Australian share market edged out a win for the final trading session of the week, boosted by positive signs on the US labour market. The number of Americans lining up for unemployment benefits last week remained at the lowest reading since March 2008, giving US stocks a boost. The All Ordinaries Index (XAO) today gained 21.5pts or 0.5pct to 4389, and was up 2.7pct on the week.

Resigned Foreign Minister Kevin Rudd said on Friday in a Brisbane press conference that he will challenge Australian Prime Minister Julia Gillard for the leadership of the Australia Labor Party (ALP).He arrived earlier on the same day from Washington.

Jetstar passengers are complaining of the budget air carrier's flight delays and postponement. The average delay of 25 per cent of Jetstar planes in January was at least 15 minutes.

Both the Reserve Bank of Australia (RBA) and the ANZ Bank are apparently sending mixed signals to the public when it comes to interest rate setting. While RBA Governor Glenn Stevens said on one hand that the large Australian banks are not too profitable, he maintained on the other hand that the overnight cash rate of 4.25 per cent is where it should be even if the big four have lifted their lending rates.

The Australian share market is slightly higher in early trade, following modest gains on Wall Street overnight. US investors were encouraged by a report showing the number of Americans lining up for unemployment benefits last week remained at the lowest reading since March 2008. At lunchtime in the East, the All Ordinaries Index (XAO) is up 12pts or 0.3pct to 4379.6.

It takes a fellow con artist to pull off a fast one over another scammer. This was proven on Thursday by an Australian woman who pleaded guilty to cheating Nigerian scammers of $30,000.

A day after he resigned from his post, former Foreign Affairs Minister Kevin Rudd is back in Australia. In a press briefing on Friday morning upon his arrival at Brisbane Airport, Mr Rudd said he would make a statement later within the day on his plans about the Australian Labor Party leadership ballot on Monday.

The Australian sharemarket lost ground for the first time in five sessions today, with the All Ordinaries Index (XAO) down 0.1 pct or 4.6 pts to 4367.5. The energy sector performed strongly; however weakness from both the miners and big banks dragged the market slightly into the red.

The Church of Scientology has asked the federal government of Australia to exempt it from the provisions of the Fair Work Act. The church cited its status as a legitimate religion as the reason why it sought exemption from having to pay its workers the minimum wage.

An official of the Reserve Bank of Australia (RBA) lauded the high-quality lending practices of the country's banks which helped avoid a subprime housing slump similar to what happened in the U.S.

Santos, a coal seam gas (CSG) mining company in Australia, admitted committing environmental errors in its Pilliga East State Forest operations. In a report to the New South Wales government which contained a review of its drilling operation, Santos said there were many instances of pollution, including leaks and spills, that were reported.