Vittorio Hernandez

Australian Defense Minister Stephen Smith is in India to hold uranium export talks with officials of the south Asian nation in anticipation of the lifting of the ban.

Mining firm Atlantic (ASX: ATI), based in Perth, has admitted on Thursday there are delays in reviving its Windimurra vanadium mine in Western Australia. To address the delay, the firm will resume trading after a self-imposed trading halt.

The Australian sharemarket ended a touch lower today with the All Ordinaries index (XAO) losing 0.3 pct or 12.4 pts to 4338.9. Almost all regions of the market lost at least some ground, with the energy sector by far the worst in percentage terms. The miners flirted with positive ground for most of the day and did not add to the market's weakness today.

The Maria's Farm Vegetables in New South Wales will use coal seam gas (CSG) to power a $65-million glasshouse it would build near Fullerton Cover.

ANZ Bank announced on Thursday that it will pass on to consumers the full 25 basis points interest rate cut made by the Reserve Bank of Australia (RBA) on Tuesday. It becomes the first of the four large Australian banks to cut its interest rate by 25 basis points, leaving the pressure on Commonwealth Bank, National Australia Bank and Westpac to follow suit.

Australia's unemployment rate rose to 5.3 per cent in November, according to data released on Thursday by the Australian Bureau of Statistics.

The Australian sharemarket is losing ground for the second time this week with the All Ordinaries index (XAO) down 0.2 pct or 9.8 pts to 4341.5. Most sectors are lower with the energy and financial stocks holding the market back at lunch. The miners were lower in early trade, managed to creep into positive territory at around 11am (AEDT) only to pullback over the last hour.

While smaller Australian banks have passed on in full to customers the 25 basis points overnight cash rate approved by the Reserve Bank of Australia (RBA) on Tuesday, the four large banks are playing a waiting game which one will first pass on the rate reduction and by how much.

The Australian dollar received a boost yesterday, upon the release of a stronger than expected 3rd quarter GDP result.

US markets extended their gains overnight in a choppy session, as traders tried to position themselves ahead of the key European summit. Reports out of Europe continue to dominate trade, with plenty of headlines to digest. A report suggesting the G-20 is considering a $600 billion IMF lending program saw US markets charge higher late in the session. However, the IMF has since denied the report which resulted in US stocks retreating in the last moments of trade.

US consumer credit grew sharply for the second straight month, rising by $7.65 billion in October. German industrial production jumped by 0.8pct in October to be 4.1pct higher than a year ago. In contrast Italian Industrial production fell by 0.9pct with UK industrial production down by 0.7pct in October.

The local share market generally rebounded from yesterday's 1.5pct sell-off today, with investor sentiment boosted by hopes European leaders will make progress in addressing the region's debt crisis at the European Union summit being held later this week. The All Ordinaries Index (XAO) added 29.7pts or 0.7pct to 4351.3 while the S&P/ASX 200 Index (XJO) firmed by 30.5pts or 0.7pct to 4292.5.

Sony Ericsson is a joint venture between the Japanese company Sony Corporation and the Swedish telecom company Ericsson to manufacture mobile phones. It used to be the 4th largest mobile manufacturer in the world after Nokia, Samsung, and LG. However, in 2010, its market share fell to sixth place.

The New South Wale and federal governments announced on Wednesday that the Northern Sydney Freight Line system would be upgraded for $1 billion. The system links North Strathfield and Newcastle.

A crocodile is the suspect in the death of a 49-year-old Cairns fisherman and barge skipper. Queensland police said on Wednesday that they suspect a reptile after they recovered the body of David Fordson with signs of injury caused by a marine animal.

More Australians will resort to cosmetic surgery to have more beautiful bodies for summer, business information analyst IBISWorld said in a report released on Wednesday.

Australian shares gained at the open of trade, The All Ordinaries index rose 35points to 4,357. After U.S. market tracked higher overnight, concerns about the European debt situation are still floating around but a sense of calm has hit the Australian markets today.

The Western Australian (WA) government approved Ichthys $30-billion liquefied natural gas (LNG) project in the state. It would be the first Japanese LNG development scheduled to start in early 2012.

Xstrata Copper's shift to underground from open pit mining has extended the life of its Ernest Henry mine for 12 years. It also provides ongoing economic security for the Cloncurry community where the mine is located, said Myles Johnston, the general manager of the mines.

Australia expects a strong summer harvest of 43.3 million tonnes crops, the Australian Crop Report released on Tuesday forecast.

Woodside Petroleum said on Wednesday that there would be no delay on its $30-billion liquefied natural gas (LNG) project in Western Australia (WA) despite an adverse court decision.

After six sessions of gains, the local share market ran out of puff today. European debt woes were again the focal point for investors, and a key reason the Reserve Bank moved to cut interest rates for the second month in a row. The RBA cited that "the sovereign credit and banking problems in Europe, to which European governments are still seeking to craft a full response, are likely to weigh on economic activity there over the period ahead," as a reason to move the official cash rate lowe...

Australians are spending less on gambling compared to previous years. A report by Roy Morgan released on Tuesday said that Aussies spent $18.5 billion on all forms of gambling in the past 12 months to September 2011. It is down from the $20.2 billion they spend for 2002.

Many Australians have a sweet tooth and indulge in consuming lollies, toffees, éclairs and caramels. A study by Roy Morgan Research released on Tuesday found that 39 per cent or 7.2 million Aussies aged 14 and above ate sweets in the last four weeks.

Liberal MP Malcolm Turnbull asked Opposition leader Tony Abbott to allow coalition MPs to vote according to their conscience on the same-sex marriage bill. Mr Abbott has not ruled out a conscience vote, but said he will come out with a decision when he reads the legislation.

Overnight US market closed higher after a mid-session glitch that saw the index slide over 50points on the news that the Financial Times, out of London, had reported the rating agency Standard's & Poor's was likely to cut 6 key European nations AAA credit ratings. After the initial shock the market turned higher. Dow Jones Index and NASDAQ both ended stronger.

The Australian Competition and Consumer Commission (ACCC) had conceded defeat in the $215-million Metcash purchase of Franklins Supermarkets. After a prolonged legal battle, a Federal Court judge ruled last week in favour of Metcash despite opposition by the competition regulator.

Alliance Resources (ASX: AGS) disclosed on Monday that it has settled its legal dispute with venture partner, Heathgate, paving the way for the fifth uranium mine in Australia.

Federal Court Justice Michelle Gordon, in a landmark decision on Monday, ruled that late payment fees on credit card charged by the ANZ Bank are considered penalties and is a breach of contract on the part of the customer.