BUSINESS

WorkSafe Victoria said on Tuesday that it has issued directives for Esso Australia to check on the alleged corrosion problems at its Longford oil and gas facilities following the occurrence of the series of oil and gas leaks in August this year and November last year.

His entrepreneurial spirit will not be put down easily, not by a technical glitch or by any other trouble at hand. Billionaire Richard Branson launched his latest space tourism project amidst a flight technical glitch that grounded his airline company Virgin Blue.

High-end retailer David Jones Ltd (ASX: DJS) said on Tuesday that it is right on track to achieve its 2010/11 profit guidance though it admitted that in order to reach the higher range of its earnings forecast, the company must experience a full swing recovery for the whole of the fiscal year.

The next decade will be difficult for Australia's poor because the prices of fruits and vegetables are expected to rise.

After almost two days of a computer system glitch, Virgin Blue CEO Richard Branson had to personally apologise to customers/passengers for the chaotic delays.

The Center for Science in the Public Interest (CSPI) and ice cream company Ben and Jerry settled for dropping the phrase 'all natural' from all product labels.

With a lack of economic releases during the offshore session, the markets were fairly subdued.

In an otherwise quiet session yesterday the Australian dollar managed to once again touch fresh 26-month highs.

The Chicago Fed activity index fell from -0.11 to -0.53 in August. The sub indices of employment, production and income eased in the month. Similarly the Dallas Fed manufacturing index of general business activity fell from -13.5 to -17.5 in September.

U.S. stocks lost steam in the final stretch to finish lower as Wall Street paused from a four week winning stretch even as corporate America engaged in another round of deal making.

The National Australia Bank (ASX: NAB) took the first step in preparing for the strict government rulings on credit card use by cutting a range of credit card fees.

Wesfarmers Limited (ASX: WES) and Woolworths Limited (ASX: WOW) are preparing for the expected increase in demand for home improvement items.

A mechanical heart invented in Queensland needs to go through animal studies. The lack of funds, however, has put the studies on hold.

The Australian sharemarket opens lower after the U.S. sharemarkets eased on Monday.

Greenpeace protesters are up against the selling of Wyeth's S-26 baby formula in supermarkets.

The Australian currency finished near a two-year high on Monday, its high-yield appeal clearly working in its advantage amid growing speculation the Reserve Bank of Australia (RBA) may lift domestic rates as soon as next week.

Australian stocks finished higher on Monday, touching a five-month high as banks surged and miners raced ahead on higher metal prices.

Dark pool trading may see more light in the Australian trading floor as demand is seen to be picking up along side in Europe.

Up to 400 hundred top level business executives from around the world are set to plane in to Sydney on Tuesday as the city hosts for the second time the annual Forbes Global CEO Conference.

The Australian Greens party voiced out its concerns on Monday that the South Australian government may be rushing too much on the proposed rare earths processing plant in Whyalla following the state’s move of giving major project status to the planned $1 billion rare earths facility by Arafura Resources Ltd (ASX: ARU).

Junior mining firm Murchison Metals Ltd (ASX: MMX) downplayed on Monday circulating speculations that its iron ore joint venture partner Mitsubishi Corporation of Japan is dropping out from its earlier deal with the company to develop the Oakajee Port and Rail project in midwest Western Australia.

Major changes will soon be felt in the credit card payment system of the National Australia Bank Ltd (ASX: NAB) as the giant bank announced on Monday that a new scheme is set to take effect that seeks for the settlement of high interests first prior to payment of lower interest items.

Lawyers handling the $37 million sexual harassment case against luxury retailer David Jones Ltd and its former chief executive Mark McInnes requested the Federal Court on Monday that the names of a number of witnesses for the case remain protected by confidentiality.

Westpac Banking Corporation (ASX:WBC) said business credit growth is set to resume in the next six months as a gradual pick-up in consumer spending flows through to the commercial sector.

The Health Lies in Wealth report shows the poorest of Australians dying three years earlier than the wealthiest.

The New Zealand government has put some necessary brakes on its policy allowing foreigners to own tracts of farmlands in the country.

Virgin Blue said on Monday that it has restored its check-in system that crashed yesterday as the airline continues to grapple in restoring normalcy on its service flights across Australia and catch up on the backlogs left by the apparent computer glitch.

Two new mobile breast screening units will be accompany health team units during their two year rounds across the state.

The Australian currency traded near a two year high at Monday noon on rising equities in the region and a weaker greenback, but had drifted lower this morning's high as it consolidated.