BUSINESS

National Australia Bank is all set to put forward a revised offer for its takeover worth $13.3 billion of assets manager AXA Asia Pacific, according to a Reuters report, citing three sources who are privy to the deal.

The Australia 200 CFD Index closed 0.5% lower at 4254.6, with consumer discretionary, financial and energy names detracting most of the points.

BlueScope Steel Ltd said today that it is amenable to a Federal Court decision to hear its abuse of process claims against Cheung Kong Infrastructure Holdings (CKI), where the steel maker is accused of misleading CKI when it sought to acquire an iron sands mine subsidiary of the company in 2008 worth $190 million.

In accordance with its expansion plans in the region, Volkswagen said on Tuesday that it is looking to establish a new motor plant in North America where the company plans to invest up to $US1 billion which should commence by 2013.

Analysts compare the impact of the new MRRT and PRRT tax proposals to the previous RSPT proposal.

The decline in construction demand could be a reflection of the delayed impact of the withdrawal of the extra first home owners grant and the cumulative impact of the run of interest rate increases from last October, according to AI Group director public policy Peter Burn.

It has become fashionable to question the integrity of China's economic data, but what about data in the US?

A Toyota Motor Corp official admitted on Tuesday that the car company was well aware of the Lexus’ engine problem some two years earlier but instead of issuing a recall, it merely ordered the replacement of the spring part to correct what the company assumed then as an isolated manufacturing issue.

Aurora Funds Ltd is set to debut on the local bourse on Tuesday, next week, after acquiring three more asset managers and putting together $2 million.

The Australian share market started the day off in promising fashion after gains from both US and European shares overnight.

The Sydney office leasing market is showing signs of recovery as white-collar employment strengthens and new construction continues to shrink.

Australia’s largest grain growing corporation, AACL, has struck a pre-purchase deal with dealer Glencore for the upcoming harvest.

Chevron Asia Pacific Exploration and Production Co said it had found deepwater natural gas deposits off the coast of Western Australia, putting in a new potential to the company’s Clio development.

Sigma Pharmaceuticals Ltd is considering an updated acquisition offer of 55 cents cash per share, from South African bidder Aspen Pharmacare Holdings Ltd.

A widely monitored construction activity private index takes a turn for the worse this June, ending three straight months of progress.

AgBank, the last of China's big four state-owned banks to go public, is selling 25.41 billion shares in Hong Kong and 22.24 billion shares in Shanghai.

After a year of NBN talks with the Government, Telstra chief executive David Thodey says he now has its sights set on diversifying the business and satisfying unhappy customers.

Xstrata Coal's $186 million of investment in early works and exploration in Queensland, including the $6 billion Wandoan coal project, has resumed after the announcement of a revised resource rent tax, according to the company.

Wall Street opened strongly last night, failed, and then kicked at the close. There is now a clear battle between buyers and sellers. Dow up 57.

On Wall St overnight, stocks opened sharply higher after a three day break, with the S&P 500 rising from a 10-month low amid speculation earnings growth in the upcoming reporting season will help equities rebound from their cheapest valuations since the March 2009 bear market low.

The US ISM services index eased from 55.4 to 53.8 in June, below forecasts centred on a result near 55.0.

U.S. stocks closed higher Tuesday, with Microsoft, Alcoa and Bank of America among the gainers, although continued concerns about global growth sapped some of the market's earlier gains.

Employers are getting more confident with the economic upturn and are intending to hire more personnel in the coming months, according to a recent Hudson survey.

As expected, no rate rise from the Reserve Bank yesterday and indeed, rates could be on hold for an indeterminate time i...

The other side of the current economic paradox, referred to in yesterday's story on car sales, was shown in the May trad...

It was hardly the most ringing endorsement for the outlook for the Australian sharemarket.But in the end, the main obje...

Building materials group, Boral, aims to raise about $490 million to fund investments, reduce debt and pay for asset wri...

Macarthur Coal yesterday raised its full-year profit forecast by about 10% after revealing a late surge in exports in ...

Harvey Norman Holdings is set to deliver a cheque for more than $55 million today to seal the deal involving its takeover of more than 30 branches in the Clive Peeters retail chain.