BUSINESS

Across the region, Asian markets are mixed following a complete lack of leads overnight and in very thin, holiday-affected trade.

The Australian market has today shrugged off weak leads, bouncing off the "flash crash" lows to make strong gains following Reserve Bank commentary this afternoon.

Xstrata renewed its earlier commitment of spending up to $186 million in canned exploration projects following the government’s decision to dump its proposed resources super profit tax in exchange for the tax deal it forged with giant mining companies.

While Holden has yet to start local assembly of the four-cylinder Cruze model, the company said on Monday that its imported version is already a hit with Australian buyers and in June alone, the becomingly popular car pushed 3000 units out of dealers’ stations, en route to the more than 14,400 units snatched up for the first six months of the year.

Chief Executive Don Matthews, of the Penola Pulp Mill subsidiary, said yesterday that he is confident that construction of the largest ever mechanical pulp mill will become a reality soon.

Official figures furnished on Tuesday by the Australian Bureau of Statistics (ABS) showed that the country posted a trade surplus for two consecutive months going into May and many economists are in agreement that Australia is all prepped up to enter a series of surplus performance in the months to come.

The Australian share market has started the day off weaker once again with the S&P/ASX 200 index down 0.1pct or 2.2pts to 4219.9.

Boral has identified a new strategic model and has announced its plans of raising $490 million to support investment and reinforce its balance sheet.

Sigma Pharmaceuticals Ltd, Australia’s major drug manufacturer, says it has not been given any formal offer by Aspen Pharmacare of South Africa as of yet, as the latter intends to continue carry out due diligence.

The spot uranium market was quiet last week ahead of the final US Department of Energy inventory sale for 2010.

The market is down 11. The SFE Futures were down 13 this morning. It looks as if the market will close down for the 10th...

First home buyers are now looking at 10 percent more savings for a deposit to be made on a housing prospect while husbands and wives need to save up at least $85,000 for a mere median-priced house unit when it used to cost only $78,100 from a year earlier.

Canegrowers, the sugar lobbyist group, says it is ‘surprised’ about the sale of CSR’s sugar and renewables arm, Sucrogen, to Wilmar International Limited, a company based in Singapore.

Brand-new car sales struck a record monthly high in June, with private buyers returning to the market.

The Australian dollar opened weaker early today as shareholders wait for the interest rate decision of the Reserve Bank of Australia during the domestic session.

A new research points out that Canberra housing affordability is getting worse, and it is getting more difficult for first time buyers to enter the housing market.

Macarthur Coal has upped its 2009-10 profit guidance today following its post of better-than-forecast sales of coal for the fiscal year.

Toyota Australia said on Monday that it has survived a jittery 12 months and even achieved a $182.3 million profit for the year to the end of March, thanks to much stronger domestic activities following a stale kick off at the beginning of 2010.

Senator Bob Brown on ABC television last night pledged to put the revised tax through a ''very close Senate scrutiny'' with a purpose of studying the repercussions on small business.

Heemskirk Consolidated has defeated Conquest Mining with an $84 million scrip bid for North Queensland Metals.

Germany's Bilfinger Berger has suspended the initial public offering of its Australian business recently named Valemus, citing a weak market.

Once again the core paradox on the consumption side of the Australian economy has been underlined.Another solid month of...

Once again the core paradox on the consumption side of the Australian economy has been underlined.Another solid month of...

CSR has sidestepped a political touchy deal with a big Chinese food group and plumped for a Singaporean company as the b...

It has probably been the most widely expected bid in the market, but that didn't stop Thai-based group, Banpu, producing...

Forget the argument over the resource tax, the debate over company tax cuts and the higher superannuation contributions,...

US financial markets were closed for a public holiday on Monday.

European shares ended slightly lower Monday after struggling for direction amid lingering worries about growth and with U.S. markets closed for a holiday, although oil giant BP managed to gain ground.

National Australia Bank and Leighton Holdings are suing the US distributor Warner Bros for $95m in a dispute over the rights to The Matrix.