BUSINESS

Iluka reports of production slump in June quarter

Mineral sands explorer Iluka Resources Ltd (ASX: ILU) revealed on Tuesday that total production for its June quarter only reached 418.2 kilotonnes, slumping by 9.6 percent from the 462.5 kilotonnes posted on the corresponding period last year.

Australian Dollar Outlook 20/7/2010

The AUD has opened fairly unchanged this morning currently trading around USD0.8690. The AUD did strengthen during the offshore session before it fell victim to profit taking and some risk averse trading.

ASIC keen on supervising housing market

Australian Securities and Investments Commission chief economist Alex Erskine says the oversight of the housing market by the securities regulator is the "next logical step'', arguing that this would increase transparency while lowering sharp distortions in home prices.
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The Overnight Report: Revenue Crunch

Wall Street bungled its way to a gain last night but after-the-bell earnings from IBM disappointed, putting pressure on tonight's trade. Dow up 56.

TPG and Carlyle to pay $2.7b for Healthscope

TPG and Carlyle will pay Healthscope $2.7 billion, the largest takeover offer for from a private equity concern in more than four years, for Australia's second-largest hospital owner.

Fairfax reveals John B Fairfax’s retirement from company board

After almost 50 years of attachment on Australia’s foremost media group, John B Fairfax is set to retire from the board of Sydney-based Fairfax Media Ltd (ASX: FXJ) as the company announced on Monday that the long-time board member would waive re-election bid for this year’s annual general meeting.

Woolies helps Foodbank net record donations

Foodbank has hit a record high for donations, receiving over 2.3 million kg of food from Woolworths over the past 12 months, thanks to a 'reverse logistics' initiative to reroute non-saleable products from the supermarket's outlets.The initiative brings non-saleable products from 825 metro and count...

Convenience market loves energy drinks, iced tea

The 2010 Nielsen Convenience and Impulse Report suggests a 'softened' convenience and impulse market, with a modest sales growth of 3.3%, and sales down by 0.5% from the quarter to the same period last year."While the usual suspects including carbonated beverages, ice cream, snack foods, cigarettes,...

Toffee scorpions and BBQ worm crisps: not for the faint of heart

UK-based online retailer Edible has made a specialty out of unusual and sometimes daunting foods, specialising in unusal delicacies and weird epicurean delights.Featuring departments for insects, aphrodisiacs, carnivores, herbivores, herbs and spices, apothecary products and even an English Garden c...

NZ dairy draws international takeovers

New Zealand dairy has drawn attention from international buyers, with Singapore-based agribusiness and food ingredients group Olam International making a takeover bid for NZ Farming Systems Uruguay, and China's Bright Food Group buying a 51% share in Synlait.Bright Food's NZ$82 million purchase of t...

RBA Undecided On Further Interest Rate Hikes

The Australian central bank has signalled that interest rates may be held steady over the next few months, if inflation data which is to be released next week is in line with forecasts. “The important question for the board at its next meeting would be whether the new information materially change...

CBA Says Australian Consumer Spending Weak

A new report authored by Commonwealth Bank suggests that whilst the job market is stronger, consumer spending is at its weakest level since the height of the global financial crisis.The Commonwealth Bank Business Sales Indicator (BSI) fell by 0.3 per cent in trend terms in June after a similar decli...

GE Capital Say Smaller Australian Lenders Still Find Funding Difficult

Non bank financial company GE Capital says raising finance for smaller lenders continues to remain difficult for smaller lenders when compared to the major banks.Skander Malcolm who runs GE Capital in Australia says that because the banks have large depositor bases they were able to fund raise more ...

IG Markets Australian Market Wrap

The Australia 200 CFD Index closed 1.5% lower at 4358.3, with industrial and consumer discretionary names leading the market lower.

Bright Dairy offers $58 M to Synlait

Synlait Milk Ltd., a New Zealand milk processing firm, will now have better chances of doubling its capacity at its South Island plant because of a new offer from Bright Dairy & Food Co.

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