BUSINESS

Coal prices experienced a sharp spike in the wake of the deadly Cyclone Debbie, which has had significant impact on the mining industry in Queensland. Chinese metallurgical futures climbed by more than 7 percent to reach $255 a tonne on Wednesday. This sets the highest recorded level for the prices since December.

Not much action was seen in the iron ore spot market on Tuesday as China celebrated the Tomb Sweeping Festival holiday. While there was marginal betterment on Tuesday, the prices continue to trend below $80 a tonne.

Coking coal market witnessed a significant spike on Monday, escalating by as much as 15 percent to settle at $175.70, according to Steel Index. The gain was seen as the largest since May 2013.

“MasterChef Australia” judge George Calombaris has apologised after it has emerged that his restaurant empire underpaid staff by $2.6 million.

Etsy announced the launch of the Congressional Microbusiness Caucus last month in an effort to elevate the requirements of microbusinesses. Formation of the bipartisan caucus was co-chaired by US Congressional representatives Barbara Comstock, Anna Eshoo, Tim Ryan and Patrick Tiberi.

Exports of coal from the world’s biggest coking coal region are expected to be heavily impacted by the damage caused to rail lines in northeast Australia. The catastrophe comes in the wake of Cyclone Debbie, which resulted in damage to an area of 1,000 kilometres.

Iron ore spot markets suffered a downslide on Monday, pulling the benchmark level below US$80 (AU$105.15) a dry tonne. It the first time since early January that such a low number has been recorded.

Auckland Transport has announced that it needed up to 600 general workers to build the City Rail Link (CRL) when the construction peaks.

Women groups and politicians have been surprised after learning that £250,000 (AU$411,936) of the tampon tax was going to anti-abortion group Life.

Australia’s economic relationship with China will be an instrumental factor in determining its future prosperity. With the importance of resource exports on the rise, there is a need for a newer model of economic engagement. The country should be able to accommodate Chinese demands concerning a variety of services.

Iron ore spot markets slumped yet again on Friday. As noted by Metal Bulletin, the spot price for benchmark 62 percent fines dropped by a margin of 1.7 percent to reach US$80.39 a dry tonne. This is the lowest price recorded since Jan. 10.

The Tesla Model 3 dashboard design may be a turnoff for many. The futuristic dashboard and the advanced heads-up display that everyone expected won’t feature in the Model 3. In a bid to keep the cost down, Tesla is taking some hard decisions.

The Australian Competition and Consumer Commission (ACCC) has required the banks to individually reach an agreement with Apple before their customers can use Apple Pay.

Asia’s coal markets were affected in March by cyclone affecting the mines in Australia and port disruptions seen in Indonesia. This comes as the strength of Chinese demand and other important import markets persist, thereby enhancing prices.

Brexit has divided the British people as it raised concerns in terms of the country's economy.

Iron ore spot markets witnessed a decline on Thursday, a setback that follows the gains of the last few days. This comes after Chinese futures experienced a reversal earlier in the session.

While Tesla Model 3 continues to catch every car buyer’s attention, there is another electric vehicle in the making that will complete the company’s “S3XY” line-up. It’s none other than Tesla Model Y, whose details are expected in the coming week.

Toshiba's nuclear unit, Westinghouse has filed for Chapter 11 or bankruptcy protection.

As Australia finds itself facing the “post boom” era, the contribution of the mining industry has been much larger than previously believed. The sector accounts for as much as 10 percent of all jobs. According to Reserve Bank of Australia (RBA) board member Ian Harper, the “export phase” of the mining boom has another 30 years to run.

Iron ore spot markets continued to increase for the second session in a row on Wednesday. As Chinese futures enjoyed a rise overnight, the trend is likely to continue on Thursday.

Telstra has announced two assistance packages for its Northern Queensland customers affected by Cyclone Debbie.

ACCC won the case against Telstra after Federal Court justice Lindsay Foster dismissed the telecommunications company's application for judicial review of the competition watchdog's 2014 Final Access Determination.

In 2014, a group of Australian, American and French entrepreneurs came together with the aim to build a platform that would disrupt the way digital offers are being consumed by smartphone users from around the world, as well as build an ecosystem that would reward those same users for their loyalty. This idea gave birth to Sh8pe Ltd, a London-based technology startup.

Woolworths CEO Brad Banducci has responded to health-conscious shoppers' demand for a  greater transparency around their food.

Fortescue Metals chief executive Nev Power has said Australia can find its next biggest source for iron ore demand in India. Currently, China serves as the Australia’s largest customer.

Iron ore spot markets reversed on Tuesday after witnessing heavy losses in the past several days. The trend will likely continue on Wednesday as Chinese futures remained strong overnight.

Morgan Stanley analyst Adam Jonas is of the opinion that the safety of Tesla Model 3 will allow the electric vehicle maker to steal away market share from its competitors. This is Tesla’s big opportunity, too good to miss.

According to a new industry report, Queensland will be home to major engineering work in 2017-2018 that will allow the state to reverse its five-year decline. However, it warns that without funding commitments, any improvements will not be met with long-term results.

Vodafone, Foxtel, Bunnings and more Australian companies are joining the boycott of YouTube advertising. The Google-owned video site has since apologised and promised to make necessary changes after it was learnt that unwitting companies’ ads appeared next to extremist content videos.