Vittorio Hernandez

Moly Mines (ASX: MOL) is again postponing its $700-million molybdenum and copper mine projects at Spinifex Ridge in Western Australia. The company explained the move to falling prices of molybdenum, a key ingredient in the manufacture of steel, and the strong Australian currency.

Qantas compensated passengers of its Perth-bound plane from Singapore of up to $400,000 each. The 144 travelers were hurt when the Airbus A4330 jet they were riding on October 2008 nosedived twice.

The National Electrical and Communications Association (NECA) sought on Thursday more stringent electrical safety measures in Australia, particularly for older homes.

Australia's Human Services Ministry issued in 2010-11 192 departure prohibition orders (DPOs) against parents considered deadbeat. The DPOs, which prevents them from traveling, were made after repeated attempts to make them pay debts.

The Australian weather bureau cancelled on Thursday a cyclone watch it made for Cape York in Queensland. The bureau explained its move to changes in ex-tropical cyclone Grant.

New South Wales (NSW) Opposition leader John Robertson warned on Thursday that roadwork on the Sydney Bridge would affect about 200 events of the Sydney Festival. He said the closure of the bridge in three January weekends would make it harder for residents who live north of the span.

Yesterday, The Australian Stock market closed lower with The All Ordinaries Index (XAO) falling by around 50points. Today the market reopened lower, following the lead of major markets around the globe overnight. Key European and U.S. market index's off around 1pct.

A father and son tandem won separately first division lotto prize on the same day by using the same family birthday combinations.

The West Australian government invited China to be an investor in its $5.94-billion Oakajee port and rail project. The venture seeks to open up a new iron ore mine site in the state's Mid-West and make it WA's second major iron ore output behind Pilbara.

A train was derailed on Tuesday caused by floodwater brought by ex-tropical cyclone Grant. The accident involved OZ Minerals (ASX: OZL) whose $8-millon shipment of copper concentrates partly spilled into the Edith River.

Amid the spate of train accidents in Australia involving shipment of minerals, BHP Billiton (ASX: BHP) assured on Thursday that the route it would take to move toxic products from its Olympic Dam expansion is safe.

The Australian Council of Trade Unions (ACTU) criticised the Australian government on Tuesday for renewing a textile, clothing and footwear scheme with the Fiji government. The scheme is part of a multilateral trade agreement, which ACTU President Ged Kearney insisted would not improve the lives of textile workers in Fiji who are paid low wages.

The holidays are times when people frequently lose their mobile devices such as cellular phones and laptops. A survey made by AVG in 10 countries showed that 17 per cent of laptop owners and 39 per cent of mobile phone owners have lost their gadgets while traveling during the holidays or these items were stolen.

International mining company Cliffs Natural Resources bought Atlas Iron Limited's (ASX: AGO) magnetite project for $18 million.

The Construction Forestry Mining Energy Union (CFMEU) charged that 400 workers may have been exposed to asbestos for about one year in the $50-million redevelopment of the Museum of Contemporary Arts building in Sydney.

Australian mining company Arc Exploration (ASX: ARX) temporarily suspended the operation of its gold project at Bima in the Indonesia island of Sumbawa after violence broke out on the site on Christmas Eve.

Last Friday, the Australian Stock market closed early for the festive break at 2pm AEDT. The All Ordinaries Index (XAO) added nearly 50points. Today after a four day Christmas break the market reopened lower, at lunch The All Ordinaries Index (XAO) off 36pts, trading volumes have been light and eight out of the ten index sectors are trading lower.

Despite gold prices falling again this week, the metal is still the top performing commodity of 2011.

A lawsuit filed by a mobile phone company against one of its former employees could make clearer the blurry lines on the use of social networking sites by employees for work.

Australian economists forecast that the Reserve Bank of Australia (RBA) will keep the overnight cash rate below 4 per cent for 2012. The basis of their outlook is slower global growth in the first quarter of the coming year because of the European debt crisis.

Mining giant Rio Tinto (ASX: RIO) announced on Thursday that it has extended its offer to purchase Hathor Exploration shares to 5 p.m. of Jan 6, 2012. The offer, made through an indirect wholly-owned Rio subsidiary in Canada, is for C$4.70 in cash per common share.

Service provider Adam Internet announced on Friday the roll-out in 2012 of its Business Cloud computing service in South Australia.

A British government report credits Prince William and Kate Middleton's wedding and the Queen Elizabeth and Prince Phillip's 11-day visit to Australia for the brief respite from the republican movement.

Many beaches in Sydney will remain closed until Wednesday as waves of up to four meters created by ex-tropical cyclone Fina hit the coast.

Australian supermarkets are passing off foreign products as Made in Australia by using loopholes.

A survey by consumer watchdog Choice found that 52 per cent of shoppers are unaware of their rights regarding the purchase and return of products.

The Perth Magistrates Court fined Barrick Gold on Thursday $140,000 for the death of miner Daniel Williams in August 2009. Mr Williams fell into an ore chute at the underground mine of Barrick's Kanowna Belle gold mine near Kalgoorlie.

Finally some Christmas cheer for investors, with the stock market closing higher on the last trading day before the break. It was a shortened trading day, the market closed at 2pm AEDT. The All Ordinaries Index (XAO) added 49.9pts or 1.2pct to 4192 while the S&P/ASX 200 Index (XJO) was firmer by 496pts or 1.2pct to 4140.4.

A survey released on Friday by the Australian National Retailers Association (ANRA) found that 20 per cent of Aussies plan to give gift vouchers for the Yuletide.