BUSINESS

Woodside Petroleum (ASX: WPL) sought permission for the West Australian (WA) government to postpone its decision on the proposed and controversial $30 billion Browse liquefied natural gas (LNG) project to 2013 from mid-2012.

Australian supermarket giant Woolsworths (ASX: WOW) bought 31 pubs worth $500 million across New South Wales.

Stocks of Billabong International Limited (ASX: BBG) fell 34 per cent after the Gold Coast firm forecast lower earnings for the first half of the financial year and issued a profit downgrade due to the chilly summer weather.

Yanzhou Coal Mining of China is in an $8-billion merger talks with Gloucester Coal of Australia. In anticipation of the takeover, Gloucester (ASX: GCL) will halt trading on its stocks on Tuesday.

European shares were mixed on Monday. Despite no further downgrade of sovereign credit ratings, investors remained cautious.

U.S. stocks fell Monday after European Central Bank President Mario Draghi made cautious comments on the state of Europe's economy and as bank stocks sagged in expectation of tighter capital standards.

By SM Ali Abbas, Nazim Belhocine, Asmaa El-Ganainy and Mark HortonAs policymakers continue to grapple with high debts and the troubles that come with them, this column looks at the lessons from data on public debt in 178 countries stretching back as far as 1880.

By Kathleen Brooks, Research Director UK EMEA, FOREX.comPrice action may feel like the markets have ground to a halt as we wait for the Christmas break; however headline risk is as strong as ever as we get close to the end of the year.

By Rudi Filapek-VandyckThe Dow ended down 100 points at 11766, the S&P fell 1.2% to 1205, and the Nasdaq lost 1.

Canadian gold and iron miner Eldorado Gold Corp. wants to buy European Goldfields Ltd. in cash and shares worth $2.4 billion, in an effort to add its gold reserves.

The Internet and magazines helped 8 million Australians who renovated their homes in the past 12 months.

As Myers and other major retailers revealed plans to reduce their store numbers to survive the ongoing slump, sellers' group has expressed optimism that a considerable pick up late into the holiday season could offer some relief.

About 4,000 litres of sulphuric acid leaked on Friday from the Foreshore Road Plant of Orica in New South Wales (NSW). It was the sixth industrial accident to hit the chemical manufacturer since its Kooragang Island plant suffered a carcinogenic chemical spill over the Newcastle suburb of Stockton in August.

Refund Home Loans franchisees still plan to bid for the business, but have expressed frustration with administrator SV Partners.

The Australian government announced on Sunday that it would allow by July 2012 the entry to the country of season workers from the Pacific Islands to be employed in fruit and vegetable farm

If you want your car to be innovative within an upmarket-yet- affordable range, then the Kia Rio is the perfect ride to invest on.

A New Zealand air force plane on Monday dropped fuel and pumping equipment beside a Russian fishing vessel stranded in an Antarctic ice shelf and taking on water because of a hole in its hull.

A drilling rig with 67 people fell into the icy Sea of Okhotsk off Russia's far eastern island of Sakhalin on Sunday while it was being towed amid rough waters. The accident killed four people and 50 were lost at sea.

Qantas has ended its industrial dispute with aircraft engineers after both parties agreed to a 3 per cent annual wage increase for the next three years. However, the other demands of the Australian Licenced Aircraft Engineers Association (ALAEA) such as the construction of a new engineering hangar, was rejected.

- Coca-Cola on Friday updated earnings guidance- Guidance broadly disappointed (as predicted by some)- Estimates trimmed across the market- Credit Suisse downgrades to an Underperform ratingBy Chris ShawOn Friday Coca-Cola Amatil ((CCL)) offered a trading update to the market, management indicating ...

Australian miners such as BHP Billiton and Rio Tinto and the country's steel industry are to be affected by the weaker metal demand in China for 2012.

Days after menswear store Fletcher Jones announced the closure of several outlets, the weak retail environment claimed another victim. Giant Myer (ASX: MYR) announced on Monday it would shutter in 2012 weak performing chains.

U.S. stocks ended the week with a whimper Friday as continued jitters surrounding Europe's debt crisis weighed on investor sentiment. T

US consumer prices rose were flat in November after a 0.1pct drop in October. Consumer prices were up 3.4pct in the 12-months to November. Excluding food and energy consumer prices was up just 0.2pct in November.

A top broker believes risk specialists are making the products too complex and difficult for many consumers to understand.

Westpac chief Gail Kelly has joined the chorus of bankers warning borrowers may not be so lucky after the next RBA cut.

Wealth Today CEO Michael Stephens has refuted Mortgage Choice's position on individual brokers holding more than one licence, arguing this only increases their capacity to provide good service.

Another weak week for global markets, especially commodities led by gold, and the euro.

The impact of China's slowing economy on our export performance was clearly shown yesterday, but home loans rose for yet another month.