BUSINESS believes corporate watchdog the Australian Securities and Investments Commission concentrates on easy targets, focuses on punishment at the expense of prevention and is too cautious about taking action to enforce the law.

WALL Street wobbled to a mixed close today as fresh highs for crude oil prices and a weak reading on consumer confidence took the lustre off data showing a surprise rebound in US housing starts.

THE closing bell overnight tolled the end of an era at the Chicago Mercantile Exchange livestock trading floor, where, since 1983, traders dressed in colorful jackets have used an array of hand signals and shouts to buy and sell cattle,

US CONSUMER confidence tumbled to its lowest in 28 years this month, a survey showed overnight, as short-term inflation expectations reached the highest levels since the stagflationary early 1980s.

SHARES in BHP Billiton surged to another record high yesterday on speculation that Chinese interests are angling to buy into the mining giant.

AUSTRALIA'S biggest grocer Woolworths said price inflation for fresh foods is easing in its supermarkets.

AUSTRALIA'S All Ordinaries index has smashed through the psychological 6000 level for the first time in more than four months.

THE price of oil rocketed to a record high of $US127.43 ($136) a barrel overnight, as US President Bush prepared to urge Saudi Arabia to pump more crude.

ST George Bank's share price indicates that the market is expecting a new offer, chief executive Paul Fegan said yesterday, with eyes on the big banks.