BUSINESS

The four largest banks of Australia invested more in global fossil fuel projects than in renewable energy in 2016, according to finance group Market Forces. Investment in fossil fuels – $10 billion cumulatively to expand non-renewable energy – outpaces that of clean energy by as much as three times.

Airbus has launched a one-of-a-kind online booking tool that allows users to choose the type of aircraft they wanted.

Etsy, the online crafts supplier, reported significant growth in its gross merchandise sales (GMS) for the fourth quarter that ended on Dec. 31, 2016. The company’s GMS stood at $865.2 million, a jump of 16.7 percent for the same period the previous year.

Australian stocks are expected to open slightly lower on Tuesday as investors await the decision of the Reserve Bank of Australia (RBA) for its second monetary policy of 2017.

Iron ore prices weakened on Monday, going below the US$90 (AU$118.5) a tonne mark overnight. This comes as the lowest recording in almost a month. The price for 62 percent fines closed at US$89.73 (AU$118.14) – a decline of 1.7 percent from the previous trading day.

The ABC managing director Michelle Guthrie has planned to axe middle managers and supervisors to create $50 million content fund.

European retailer TK Maxx chose 303 MullenLowe to launch advertising campaigns for the retail giant’s international brands in Australia.

Australian Competition and Consumer Commission has released an Annual Airport Monitoring Report showing the performance of Brisbane, Melbourne, Perth and Sydney airports.

Rio Tinto is considering whether to extend the project at Argyle diamond mine, Western Australia. In light of this development, the mining company has reduced its estimate of the mineral resources at the mine.

The Fair Work Ombudsman has encouraged horticulture businesses to provide a written piecework agreement for backpackers that the business would employ.

Iron ore spot markets saw a steep decline on Friday. By the evening, however, they had swung around. As a result, there are speculations that suggest the fall may unwind on Monday.

Commonwealth Bank of Australia (CBA) wealth manage group executive Annabel Spring has revealed that CommInsure staff used Google to test 1.5 percent of insurance claimants for fraud.

Mining giant Rio Tinto slashed its workforce by as many as 4,000 workers globally in 2016. The Australian operations were the most affected as part of the move.

Qantas and American Express has agreed to upgrade the credit card's rewards system that would boost the points earned by the cardholders.

The Organisation for Economic Cooperation Development (OECD) has warned that expanding household debt could bring about a recession. The findings come in the organisation’s first review of the Australian economy since August 2014.

Tesla founder Elon Musk has replied to the 10-year-old schoolgirl's letter through a tweet sent by her father.

Mining giant BHP Billiton has called for an “urgent” need to address a change in the power supply. As part of this, the company said large power generators should be “incentivised” to provide adequate baseload electricity in a short term.

Iron ore spot markets bounced back on Thursday. However, it is expected that the upward trend may start falling on Friday, as Dalian futures suffered a heavy slide overnight.

The Commonwealth Bank (CBA) has agreed to reimburse the superannuation after the Finance Sector Union (FSU) brought up that the bank should repay the entitlement to part-time workers.

TK Maxx has confirmed its arrival to the Australian market in April 2017 by converting all 35 existing Trade Secret stores into TK Maxx shops.

Victorian Legal Aid executive director Dan Nicholson has warned clients affected by a faulty debt-recovery system that their confidential information will be disclosed when they speak publicly.

Australia has been able to narrowly avert a recession, the national accounts data revealed. The statistics, revealed on Wednesday, show that the Australian economy climbed by 1.1 percent in the last quarter.

Australia’s mining and metals sector enjoyed an impressive 2016 with the total number of deals increasing. According to a report from global accounting and consulting firm EY, an escalation of 31 percent was witnessed in the Australian mining M&A deal volume.

Apple stock jumped by more than 2 percent during trading hours on Wednesday. With this, and following price target increases and Warren Buffet’s investment, the tech giant reached a high of US$139.99 (AU$182.6).

Iron ore futures returned to a steady trend as markets did next to nothing. This comes amid reports that Chinese regulators were looking to probe into speculative or "non-conforming" trading activity in the nation’s commodity futures market.

Westpac was facing allegations for breaching responsible lending practices.

Optus Business and Pure Storage announced the launching of All-Flash storage platform on Tuesday.

Commonwealth Bank of Australia (CBA) and Airtasker has teamed up to increase users' reputation as users handle their business.

Mining company Rio Tinto announced it will employ as many as 300 indigenous people on its Amrun bauxite project in Far North Queensland. During the course of the project, the company hopes to achieve the indigenous employment target of 20 percent.