BUSINESS

Channel Ten owner Ten Network Holdings Ltd (ASX: TEN) appeared fully recovered from the net loss it suffered in the previous financial year as the broadcast company reported of a full year net profit due to spikes seen on its revenue.

Australian consumers are looking to reduce their lifestyles through simpler living amid pressures of heavy debts, new research shows.

ASX-listed gaming firm Tabcorp Holdings Ltd (ASX:TAH) has raised some $238 million from institutional investors and is now set for the retail component of its entitlement offer worth $190 million

Reports early this month said the big four will give the Reserve Bank of Australia until next month to raise rates or they will go it alone, but a national accounting firm warned lenders that increase interest rates above RBA levels should have their market dominance reviewed by the Federal Government.

Wesfarmers has reported first-quarter sales up 4.3 percent as its subsidiary Coles food and liquor contributed to what the company described as "a generally pleasing result".

Business conditions in the Australian Commercial Property market improved in the third quarter ending September, driven by gains in the Office and Hotels segments, while conditions in the Retail and Industrial markets, however, remain negative, the National Australia Bank said in the report of its latest survey released today.

As billionaire investor James Packer moved late on Wednesday to increase his stake on Ten Network Holdings Ltd (ASX: TEN) from an initial share raid haul of 15 percent to 17.88 percent, media reports whirled around stating that the veteran media player would sue for a considerable overhaul in running the television company.

While the AUD took a breather yesterday, worn out after its assault on parity over the last few weeks, the break was not for long.

U.S. stocks extended their broad based rally Wednesday, as a positive outlook from the financial sector and a spate of strong earnings from airlines helped investors move past the previous day's bruising losses.

The US Federal Reserve Beige Book has reported sluggish economic conditions in late September/early October.

The Australian Dollar rose for the first time in 2 days after its drop to the lowest level in 2 weeks.

Australia's three top mining companies have called a meeting with the government to clarify the tax agreement seen on the brink of collapse.

Investors have taken advantage of the Australian dollar's decline yesterday amidst further speculation that the Reserve Bank of Australia is bound to adjust interest rates upwards.

The Australian share market closed weaker on Wednesday as local equities followed a weak lead from Wall Street

Microsoft Australia launched Office 365 today. Dubbed as Microsoft's next generation software in cloud productivity, Office 365 aims to bring together Office, SharePoint, Exchange and Lync online in a cloud service.

Global mining firm Rio Tinto Ltd said on Wednesday that it is sticking with an earlier deal sealed with the federal government on the minerals resource rent tax, notwithstanding the reservations recently aired by its fellow giant miner BHP Billiton Ltd.

Toll road operator Intoll Group Stapled Securities (ASX: ITO) reported on Wednesday that the Canadian firm seeking to purchase the company has been granted approval by Australia’s Foreign Investment Review Board (FIRB) to finalise its takeover bid on Intoll.

Consumers are warned of the Tylenol 8 hour caplets with lot No. BCM155 (bar code No. 3 0045-0297-51 8). They should immediately be returned to the manufacturer.

With emerging reports on Wednesday that the provincial government of Saskatchewan has already decided on disapproving its close to $US40 billion or $A41.43 billion takeover bid on Canada’s Potash Corporation, BHP Billiton Ltd declared on the same day that it is able to deal with all the concerns of the proposal.

The Australian government is set to decide on the liquefied natural gas venture project of Santos Ltd. and BG Group PLC Origin and partner ConocoPhillips in Queensland on Oct. 22.

Giant telecommunication firm Telstra Corporation Ltd (ASX: TLS) saw a record dip on its market shares on Wednesday following the large-scale divestiture instituted by the company’s biggest shareholder and a threat of structural split up from federal authorities.

Any upward adjustments in the mining royalty rates to be implemented by states and territories will all be unacceptable to Prime Minister Julia Gillard as this would put Australia's top mining resources industry at risk.

It was billionaire gambling operator James Packer who caused the tremor movements of Channel Ten market shares as confirmation was made on Wednesday that Mr Packer paid a whopping $245 million to secure a 15 percent stake on the company through his private firm Consolidate Press Holdings.

The Australian mining industry and authorities are again headed for another serious debate with regards if taxes and royalties issues are not resolved immediately.

Job opportunities for Australians seeking employment within the resource sector are hitting new highs as the industry recovers from the global financial crisis, according to new research.

Toyota Australia is set to ship its 500,000th vehicle to Saudi Arabia tomorrow, the company announced on Wednesday.

Government sources revealed late on Tuesday that the provincial authorities of Saskatchewan were set to ditch BHP Billiton’s $US38.6 billion or $A39.98 billion takeover proposal for the Canadian firm Potash Corporation, dashing hopes by the giant resources company to secure additional profits from the anticipated demand spikes in fertiliser coming from China and India.

BHP Billiton Ltd. (ASX: BHP) has reported a 6 percent increase in its iron ore production, which meets higher steel demand and promotes wider expansion in Western Australia.

Giant retailer Woolworths Ltd (ASX: WOW) welcomed a ‘solid start’ on its new financial year as its first quarter sales surged by 4.1 percent while the company’s petrol volume turnovers jumped by 3.3 percent in value.