BUSINESS

Fortescue Metals Group announced today that two of the mining company's three expansion projects have been placed on hold due to the financial impact of the government's proposed Resource Super Profits Tax (RSPT).

Real estate developer Stockland claimed it's on the right track as it posts a 5,000 net deposits on homes at the end of April for the fiscal 2010.

Minerals tester Ammtec Ltd announced it is considering a $123 million takeover offer from laboratory services and chemicals producer Campbell Brothers Ltd.

David Jones posted its stronger sales growth from its rival Myer to 1.4 per cent in the third quarter, but still below analyst expectations.

Real estate developer Stockland announced it is on track to achieve record residential sales in FY 2010, with approximately 5,000 net deposits achieved by the end of April.

Affordability is out the of the question as house prices and the continuous rising of interest rates have pushed home ownership farther away for many young Australians.

Chief executive Warwick Grigor of BGF Equities criticized Ken Henry for seriously recommending the resource super profits tax from the Henry Tax review.

BHP Billiton continues its campaign against the planned resources tax by saying that its implementation would impact dividends to 540,000 shareholders.

Morningstar France Holding, a subsidiary of Morningstar, Inc., a leading provider of independent investment research, has announced it has entered into a definitive agreement to acquire Seeds Group, a leading provider of investment consulting services and fund research in France. The companies expect to complete the transaction within the next few months, subject to customary closing conditions. The terms of the deal were not disclosed.

Origin Energy and BG Group have jointly informed the Australian Petroleum Production and Exploration conference held in Brisbane today that they will reveal by the end of the year if the planned multi-billion dollar liquefied natural gas (LNG) project in Queensland would push through.

A fund analyst said on Tuesday that gold will most likely see a temporary correction soon as its spot prices saw a record high of $US1,249.70 last week, which experts attributed to the economic uncertainties spawned by the Greek sovereign debt crisis.

Bradken Ltd kicked up on Tuesday its annual earnings guidance from the previous financial year of $169.1 million and revealed that it will raise $65 million to buy Canada’s Almac Machine Works as it hopes that better turnovers from its rail division would help propel the company beyond the profits it had amassed last year.

Chi-X Australia Pty. Limited has announced that the firm is a step closer to delivering on its commitment to introduce faster, cheaper and smarter equities trading for the Australian market later this year, with the expansion of its business development unit.

Macarthur Coal Ltd rejected the revised $3.81 billion offer of US-based Peabody Energy Corporation.

The National Bank of Australia will face a $450 million class action lawsuit for failing to reveal a massive debt dated two years ago.

Transurban Group Ltd shares were down 24 cents, or 5.1 per cent, to $4.44 after one of its key shareholder, Ontario Teachers Pension Plan Board (OTPPB), sold its stake in the company.

The Federal Government will rule out the possibility of banning exploration in Western Australia despite that several conservationists are angry over the continuance of oil drilling at Margaret River in Western Australia.

Resource and rail products makers Bradken Ltd intends to raise $50 million through share placement to fund the acquisition of Canada's Almac Machine Works.

Miners should be cautious now that China's economic growth may not be stable for longer periods.

The Federal Government remained pressured by Queensland miners to bend the rules on the resource super profit tax, however, the Treasurer is still not swayed and insisted the request may not happen too soon.

BHP Billition Ltd is taking its battle against super-tax profits by hosting shareholder meetings nationwide to warn investors of the impact of the proposed resources tax.

Air New Zealand hits back at Australian Competition & Consumer Commission (ACCC) and accused it of making a "jurisdictional and financial grab" after the corporate watchdog announced yesterday it has begun legal proceedings against Air New Zealand and Japan Airlines for price-fixing.

Goodman Group and the Canada Pension Plan Investment Board (CPPIB) announced the establishment of a new fund worth $400 million.

The Australia and New Zealand Banking Group (ANZ) has announced on Monday its accomplishment on the acquisition of the Royal Bank of Scotland (RBS) on its retail and commercial businesses in Singapore.

The $361.5 million takeover bid by a Japanese company for CBH Resources Ltd is fair and square, that according to Grant Thornton Corporate Finance Pty Ltd, which further described the offer as more beneficial and superior in favour of CBH on its published findings on Monday.

Department stores operator Myer Holdings has expressed confidence on Monday that it is en route to a previously established full year earnings guidance of $3.33 billion amidst anticipated sales slow downs as the company enters a much challenging fourth quarter.

Construction and energy biggie Leighton Holdings Ltd has reported on Monday that company net profit jumped by 82 percent as it listed an after tax earnings of $400.3 million in the past nine months ending in March 31 this year and subsequently reaffirmed its full year earnings guidance.

Australia & New Zealand Banking Group Ltd. (ANZ) announced the completion of its acquisition of Royal Bank of Scotland PLC's (RBS) retail and commercial businesses in Singapore as it officially opens its Singapore branches today.

A spokesperson of the Australian Council of Trade Unions said on Monday that low-paid workers should have their salary increased this year to compensate for the wage freeze last year.