Result Page 308 for Latest Business News & Archive

Last-Minute Sales Surge, Boosting Retail Players' Cautious Optimism

The Boxing Day aftermath proved encouraging enough for the Australian retail sector, and major players are still cautiously optimistic about the general picture.

Oldest U.S. Coal-Fired Plant Converts to Gas

Stricter U.S. regulations on pollution control, together with higher costs incurred in burning coal, have prompted Sunbury Generation LP, owner of one of the nation's oldest coal-fired power plants, to switch to natural gas by 2015.

WA Invites China to Invest in Oakajee Port and Rail Project

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.

YouTube Starts Video Clip Voting Game

YouTube launched Tuesday a new game wherein viewers and visitors can vote to pick which of two video clips pitted against each other weekly is more impressive, funnier, cuter or weirder.

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ACTU Criticises Australia’s Renewal of Trade Agreement With Fiji

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.

Jetstar Reveals Growth Plans for New Japan Venture

Jetstar has revealed plans to attract another partner for its new Japan venture, the Jetstar Japan, adding up to the budget airline's present investors - Japan Airlines and trading firm Mitsubishi.

Cliffs Natural Resource Buys Atlas Iron’s Magnetite Project for $18 Million

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

LCD Price Cartel Settlement Case Fetches $553 M in Payments

Major consumer electronic firms, led by Samsung and Sharp, have agreed to settle on Tuesday the U.S. lawsuits that alleged they collaborated to control prices of LCD panels, reports said.

America's Sears to Close Down 120 Stores Soon

Sears chief executive Lou D'Ambrosio announced on Tuesday that up to 120 Sears and the iconic Kmart stores will close shop soon, citing that the outlets targeted for shutting down failed to generate "the results we were seeking during the holiday."

Union Claims 400 Workers Exposed to Asbestos at Sydney Museum Redevelopment

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.

Foxconn Reveals $1-B Production Upgrade Plan in China

Foxconn, assembler of Apple's iPad and iPhone, has unveiled plans to upgrade its production capacity in mainland China, expanding the company's existing plant in the country's Henan province, reports said.

Arc Exploration Suspends Gold Project in Indonesia Due to Violent Protests

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.

Former Mobile Phone Employee Faces Lawsuit Over Twitter Followers

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.

Legacy Iron Ore Gets 60% of Hawthorn Resources

Indian-backed Legacy Iron Ore is poised to acquire a 60 per cent control in Hawthorn Resources, a move that will see the accelerated development of the Mt Bevan magnetite project in Western Australia.

Italy Fines Apple $1.18 Million for Misleading Consumers

Italy's Antitrust Authority fined three Apple companies $1.18 million (900,000 euros) for misleading local consumers on warranty terms and customer assistance.

China Sets Rare Earths Export Quota for 1st Half of 2012

China's Ministry of Commerce (MOFCOM) announced Chinese exporters of rare earths elements will be allowed to sell 10,546 tonnes of in the first six months of 2012, a 27 per cent reduction from the quota set for the first half of 2011.

Android Poised to Increase Market Share with 'Ice Cream Sandwich'

The release of Android 4.0, also known as Ice Cream Sandwich, paves the way for the mobile platform's further ascension in the tightening battle for mobile market supremacy, reports said.

Rio Tinto Extends Offer for Hathor Exploration Shares Until Jan 6

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.

Samsung Set to Acquire Full Control of LCD Partnership with Sony

Sony and Samsung announced on Monday a deal that would transfer whole ownership of S-LCD Corp, an entity jointly-owned by the two consumer electronic firms, to the South Korean tech giant.

Adam Internet Offers Business Cloud Computing in South Australia

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

British Economy Faces Deeper Recession in 2012

Tighter spending policy and deteriorating economic states of immediate neighbours may push British economy into a new recession.

Bank of Melbourne Moves Fixed Rate Peg

Bank of Melbourne has reduced fixed rates, only a week after offering to price match any other major.

Brazil Inches Further with Economic Growth, Surpasses UK

Declining Euro economies have catapulted Brazil past the United Kingdom this year, placing number six on the strength of the former's rising trade partnerships with growing Asian economies, mostly led by China, Japan and India.

Retailers Use Loopholes to Pass Off Foreign Products as Made in Australia

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

52% of Australians Unaware of Their Rights as Consumers

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.

Retailers Expect to Generate More Than $1-B Sales from Boxing Day Sales

Retailers are jostling to get a prime piece of the projected $1.1 billion gross that the Boxing Day is expected to generate on Monday, a fraction of the more than $14 billion that Australian consumers are set to unleash in the days ahead.

Smartphones Helped More Shoppers be Savvy

Gone are the days where the use of smartphones was limited to “geeks”. Nowadays, shoppers are now utilizing the potential of smartphones as a tool to help them get through their shopping needs.

Sony: We Didn’t Apologize for PS Vita Bugs

Sony Corp. has denied news reports that the company has apologized for the glitches with its newest console the PlayStation Vita. According to Sony, there was no evidence of widespread bugs on the Vita and that the reports about Sony apologizing were not true.

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