BUSINESS

Iron ore prices witnessed a downslide for the second consecutive day. With this, the Australian export dove to a six-week low, dropping by a substantial margin overnight in terms of percentage since December.

In an exclusive interview with International Business Times Australia, Mackay shares more of how his business started, what pushed him to pursue his passion, his secrets to success, as well as setbacks in the industry.

SunPower CEO Tom Werner has been skeptical that Tesla CEO Elon Musk could pull off an affordable solar roof.

Optus Business has announced that it would support EnergyAustralia's telecommunications needs through its new expanded telecommunications and managed-services agreement.

Researchers have found out that drinkers who mix energy drinks with alcoholic beverages may be more likely to have increased risk of injury.

Qantas CEO Alan Joyce has released a statement saying that companies should express a view on social issues.

Customers of Commonweath Bank of Australia (CBA) and Australia and New Zealand Banking Group (ANZ) could see a surge in interest rates – of more than 20 basis points for investor loans and 10 basis points for owner-occupiers. The development comes in the wake of National Australia Bank (NAB) and Westpac upping their interest rates out-of-cycle with the Reserve Bank last week.

The Fair Work Ombudsman has launched an app called Record My Hours that would protect young and migrant workers.

Iron ore prices sustained a considerably heavy decline on Tuesday. With this, it slipped by the largest margin of a day in recent months. According to Metal Bulletin, the spot price for benchmark 62 percent fines went down by 4.26 percent to US$87.59 (AU$114.23) a tonne.

A method that can bolster memory similar to what champions have was underscored by a team of research scientists.

Uncertainty surrounding iron ore prices lies within the Chinese borders, Rio Tinto chief executive Jean-Sébastien Jacques said. The prices for iron ore will rely largely on the Chinese output.

Austrend has faced penalties up to $54,000 per contravention for allegedly discriminating its employee during her pregnancy period.

Online marketplace Etsy has announced it will be testing rearranging the display order of items in its seller’s Etsy shops, making it similar to eBay’s Best Match. As part of the move, the test will order items based on the information of the seller’s products.

Coal extraction from the $16.5 billion Carmichael project in Australia is expected to begin in 2020. Chairman of India’s Adani Group, Gautam Adani, said the company will begin work three months after it secures an approval from Prime Minister Malcolm Turnbull’s government.

Qantas has announced that it was looking for startups, scale-ups and digital disruptors that could pitch ideas to create seamless journeys for the airline.

After iron ore spot markets witnessed a significant increase for two days, they gave a relaxed performance on Friday. As noted by Metal Bulletin, the spot price for benchmark 62 percent fines declined by 0.29 percent to settle at US$92.34 (AU$119.70) a tonne.

While Elon Musk revealed plans of streamlining Tesla Model 3 deliveries, an interesting render of the much-awaited Model Y has surfaced online, making fans excited. Even though Tesla is currently focusing only on its upcoming electric vehicle (EV) sedan, it has not stopped fans from speculating about the Model 3 crossover.

The Australian Securities and Investments Commission (ASIC) has warned financial advice firms that they would be publicly named and shamed if they do not background check their financial advisors.

The Fair Work Ombudsman has launched Record My Hours app that aimed to solve underpayment problems experienced by young workers and migrant workers.

Iron ore prices continued to increase higher on Thursday. As noted by the Metal Bulletin, the spot price for benchmark 62 percent fines climbed 1.85 percent to settle at US$92.61(AU$120.68) a tonne. With this, the overall increase over the last two sessions has been extended to 5.1 percent.

A Project Facilitation Agreement, as part of a mining resource project worth $850 million, has been signed between the Northern Territory and Australian resource company TNG. Called the Mount Peake Vanadium-Titanium-Iron Project, it will include a metals processing facility that will be constructed in Alice Springs, Northern Territory.

Amid reports that sales of her brand have surged last month, Ivanka Trump’s fine jewellery line is shut down to focus on more accessible price points.

Iron ore spot markets saw an impressive run on Thursday, climbing highest in more than a month. With this, the benchmark price is over US$90 (AU$117.05) a tonne, helped largely by an escalation in Chinese futures.

Topshop Australia has announced that it would be launching its e-commerce platform in April offering expanded product collections.

Woolworths has expanded its private label by joining the European Marketing Distribution alliance.

Iron ore spot markets began slowly on Tuesday but Chinese futures continued to climb higher in overnight trade. It is not certain whether the trend witnessed concerning iron ore spot markets will persist on Wednesday.

Comcare has revealed weird compensation requests by Australian public servants including lawn mowing, longer coffee breaks and breast reductions.

Coal and gold sectors could witness a rise in mergers and acquisitions this year, according to a research by Herbert Smith Freehills. The professional services firm said factors including, but not limited to, commodity prices, lower production costs and Australian dollar will be crucial in raising the levels of M&A for 2017.

Iron ore prices are forecast to fall back to US$50 (AU$66.14) a tonne by the end of this year, as found by research firm Capital Economics. The steel making ingredient shrunk to its lowest in a decade, US$38 (AU$50.26) a tonne, at the start of last year.