BUSINESS

Aussie government implements lower home loan exit charges

Starting Thursday this week, the Australian Securities and Investments Commission (ASIC) will be granted the authority to void skyrocketing home loan exit charges that are not directly related to expenses banks actually shouldered in closing accounts, a clear benefit for consumers and home owners.

Vodafone Hutchison rebrands mobile outlets

Vodaphone Hutchison Australia has started on a multi-million-dollar exercise that will see all 93 of VHA's 3 mobile stores revamped as multi-branded Vodafone and 3 stores.

Telstra to focus on customer household services

Telstra intends to acquire companies with software capabilities and product development as it seeks to chart a new course to focus on digital households and customer services, David Thodey, chief executive officer of Telstra said.

China's taste for WA wine translates to market opportunity

Chinese consumers' growing thirst for premium Western Australian wine has led to a new book profiling top local wineries.Agriculture and Food Minister Terry Redman will tonight launch the ‘Western Australia Wineries' book, as part of a WA wine masterclass in Shanghai. The publication is printed in...
More news

Junior oil company sells PNG subsidiary

Mosaic Oil NL announced today that it has sold its Papua New Guinea subsidiary for $US11 million or $A12.7 million in cash to an unidentified company it merely described as a major player in the international oil and gas industry.

Caltex predicts first half earnings at $140M

Fuel marketer Caltex Australia expected its net profit for the first half of calendar 2010 to reach half of what was earned from the same period last year based on a stronger Australian dollar.

Rio unveils operations center in Perth

Mining firm Rio Tinto has finally opened its high-tech operations center in Perth today that would remotely control and maneuver the mining giant's network of mines, rail systems, infrastructure facilities, and its port operations in Western Australia's Pilbara.

Bright Food-CSR deal may close today

Shanghai-based Bright Food is on its way to signing a contract with Australian conglomerate CSR over the sale of the latter's Sucrogen. Reports suggested a settlement could be reached as soon as today.

Downer EDI Board appoints Harding as Deputy Chair

Downer EDI’s Board has announced its appointment of a new Deputy Chairman in the person of Mike Harding today, starting July 1, 2010. Currently, Mr. Harding is non-executive director of Santos Ltd. and chairman of Clough Ltd. He had also held various administrative positions with British Petroleum. Since July 2008, Downer has had him as Director.

QRC to negotiate with new PM on RSPT

The Queensland Resources Council has temporarily put a stop to campaign ads for opposing the Federal Government's planned super profits mining tax and it will try to negotiate with the new Prime Minister Julia Gilliard.

Westpac survey shows dips in June quarter business conditions

The latest Westpac-Australian Chamber of Commerce and Industry (ACCI) survey of industrial trends showed that business conditions saw a decline in the June quarter, with the series of interest rates hikes and doubts over the European debt crisis hounding the domestic economic outlook.

Peabody Energy still eyes Australia, Asia expansion

Peabody Energy, denied in a bid for acquisition in Australia recently, is still interested in expanding their holdings in the area in order to answer demands in the region and is also working at striking a deal with the Mongolian government, said Gregory Boyce, CEO of Peabody today.

$65M in client accounts frozen after Sonray collapse

More than $65 million in client accounts are now being frozen after derivatives group Sonray Capital Markets collapsed on Tuesday due to insufficient funds and a derivatives position that took a wrong turn.

Gold prices rise anew

Gold prices rose to $1,250 an ounce on Thursday as market jitters over sovereign credit risk and equity markets urged investors to park their funds into safer domain.

China deal stirs up Riversdale coal ambitions

Riversdale Mining has entered a $1 billion-plus contract with a Chinese state-owned steel maker to set up a second coking coal mine in Mozambique, in hopes to become the world's biggest producer.

NZ Economy Still Growing

The New Zealand economy grew for a 4th straight quarter in the three months to March, thanks mostly to the strength of...

Fed Survives US Shake Up

US Congressional leaders (mostly Democrats from the Senate and the House of Representatives) are working towards complet...

Pages