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Australian retail sales unexpectedly declined in December, the first drop in six months, as consumers spent less at grocers and on dining out in an economy where employment growth stalled last year.

Sales slipped 0.1 percent from a month earlier, when they rose a revised 0.1 percent, the Bureau of Statistics said in Sydney today. The result compares with the median forecast in a Bloomberg News survey of 26 economists for a 0.2 percent gain.

The report validates Reserve Bank of Australia Governor Steven’s decision to lower the nation’s benchmark interest rate by a quarter percentage point on Nov. 1 and Dec. 6 to help revive household demand. The central bank’s board meets tomorrow to decide on rates, and most economists predict a third straight reduction.

Bloomberg

As trading volumes spiked to 567 million shares, CNNMoney tried to get in on the action.

Stocks closed out an ugly week. Despite initial euphoria surrounding Facebook’s public debut, the social network’s shares barely popped above its offering price and failed to inspire investors to buy into the broader market.

Facebook’s stock market debut is finally here — and investors jumped on the breathlessly hyped IPO, sending shares up almost 11% at the start of trade.

Reports of Bono’s payday have been greatly exaggerated.

General Motors will not advertise during this year’s Super Bowl game, the automaker said Friday.

General Motors will not advertise during this year’s Super Bowl game, the automaker said Friday.

Reports of Bono’s payday have been greatly exaggerated.

General Motors will not advertise during this year’s Super Bowl game, the automaker said Friday.