The Australian property market is a hot topic at the moment with housing affordability at record lows, and a soaring rental market. It has resulted in many Australians being forced to abandon their dream of owning their own home, and has caused great distress among renters.

The share market started the week in negative territory. Shares in oil Search jumped on takeover speculation, and Newcrest Mining also shot up after it closed out its gold hedge fund but that wasn't enough as fresh worries about credit markets saw financial stocks come under pressure.

Australian shares fell 0.2 per cent as fresh worries about credit markets saw financial shares such as Babcock & Brown come under pressure.

Telstra has been accused of spending millions of dollars on free flights to US executives who've recently joined the company. News Limited Press reports that about $3 million worth of free flights has given to dozens of US executives and their families. Since Sol Trujillo took over as chief executive two years ago, Telstra has hired 30 foreign executives. However there's further speculation the amount spent on free flights may be higher with critics saying more than 100 US consultants have worked for Telstra and its business partners as the telco giant undergoes "Americanisation". Telstra has reported profits over the last five years with 2005 the highlight.

Australian shares could be searching for direction after a lacklustre day in New York.

It was a lackluster end to the week in New York, with the Dow moderately rising by the end of the Friday's volatile session with most investors eagerly anticipating an interest rate cut this week.

The share market finished the week on a high note, closing at a seven week high. Macquarie Bank led the market higher.

Australian shares rose point-nine percent with Macquarie Bank leading financial firms higher after it flagged a record first-half profit, while mining firms gained on firmer base metal prices.

Wizard Home Loans launched in the mortgage market in 1996 and in just over ten years has become Australia's leading non-bank lender with a network of over 250 branches. Finance News Network recently spoke with Wizard founder Mark Bouris about some of the issues affecting today's mortgage and housing markets.

Australia's biggest investment bank has forecast a record first-half profit. Macquarie Bank CEO Allan Moss says the profit for the six months ending September is expected to be strongly up on that of the $730 million a year ago. He says the bank's businesses were operating profitably, with no unusual provisions or write-downs. It's the first briefing Macquarie Bank has given since a global credit crunch roiled financial markets more than a month ago. Macquarie Bank's profits have increased considerably since 2003.

The puzzle pieces appear to be in place for another rise in Aussie shares through the day. Markets were up in New York, record-high oil prices are expected to boost energy firms and miners should get support from firmer base metal prices.

Stocks rallied in New York on Thursday on positive news from blue-chips and the country's largest mortgage lender. Rising financials also helped investors turn a blind-eye to record-high oil prices, which could have otherwise brought the rally to an end.

The share market found its way into positive territory today. Sentiment was mixed throughout the session banking shares were sold off early ? offsetting gains in energy firms following a rise in oil prices. Analysts say trading will remain choppy ahead of next week's Federal Reserve decision on interest rates.

Australian shares rose point four percent, with energy firms such as Woodside Petroleum rising on record high oil prices.

The world's biggest explosives maker, Australia's Orica, has delivered significant profit growth this year, with a global mining boom boosting its earnings. Chief Executive Graeme Liebelt says the company is satisfied with its progress and believes profits will be significantly ahead of last year. He also says Orica is interested in acquiring any chemical assets owned by conglomerate Wesfarmers. It's also looking at expanding across the globe including into Europe and China and was also attracted by opportunities in Brazil, Chile and Peru. Orica's profit highlight was in 2006 of just over $539 million.

Aussie shares could open higher this morning, with energy firms gaining on record high oil prices, offsetting a flat finish in New York. Consolidated Minerals will likely be in focus as Palmary and Pallinghurst continue to stalk the miner.

Markets in New York ended little changed yesterday as a rise in oil prices to a record $80 a barrel through the day lifted energy shares, but doubts were cast about the technology sector's outlook.

The share market wasn't able to hold on to earlier gains today ending the session in the red. Sentiment was high early on expectations a U.S. interest rate cut may be on the cards next week, while the big miners made some small gains on higher oil and base metal prices.

Australian shares gained in morning trade as hopes of a rate cut in the U.S. next week buoyed U.S.-focused firms while a jump in oil and base metal prices lifted resource stocks.

IBA Health Limited (ASX: IBA)(PNK: IBATF) - Australia's largest ASX listed eHealth company advises that the Directors of the iSOFT Group plc have issued to iSOFT Shareholders the "Recommended Revised Offer for the iSOFT Group plc, by IBA Health (UK) Holdings Limited to be effective by means of a Scheme of Arrangement under Section 425 of the Companies Act".