COMPANIES

Mining firm Xstrata Plc has increased its offer price for iron ore developer Perth-based Sphere Minerals Ltd (SPH.AU) to $3 a share and declared the offer best and estimated at $514 million.

St.George Bank, part of the Westpac Group (ASX:WBC) and one of Australia's leading retail and business banking brands, says it completed the 2010 financial year in a good position, with an increased lead over the major banks in customer advocacy and continued targeted investment in its front-line business.

Media assets are attracting attention these days and the spotlight is trained at this time to David Gyngell, who was tasked to take the helm at PBL Media, once a territory of James Packer who now toys with the idea of heading Channel Ten, if analysts were to be believed.

Diverse manufacturing firm CSR Ltd (ASX: CSR) came out of the red during the first six months of financial year 2010/11 and returned to profit status as of the end of September, with growth projections on its building products division for the rest of the current year.

The Commonwealth Bank of Australia (ASX:CBA), the country's biggest lender, stands to make an astonishing $1 billion in extra annual interest revenue by lifting its home loan margins over the last two years, according to data crunched by banking comparison website Mozo.com.au.

The Westfield Group has announced that a retail trust would separately be created and listed to raise A$3.5 billion in capital.

Westpac Banking Corp.'s second-half earnings hit a high of $3.47 billion ($3.47 billion) in the six months ending Sept. 30, as against the $1.27 billion a year earlier.

HP revealed its Instant-On Enterprise vision for Australian business and government through the provision of integrated solutions which help enterprise adapt new ways to best serve their customers and citizens.

Airport Link project glitches prompted Leighton Holdings Ltd to report an $85 million profit downgrade as the giant construction firm also cited that the rising Australian dollar and issues on its Western Australia rail contract added to its woes.

Macquarie Group dismissed allegations that a leasing arm of the financial firm actively took part on the questionable telecommunication equipment rentals deals offered to unsuspecting small business owners by 28 telco companies in 2008.

Network Ten (TEN.AU), has announced that it would restructure the composition of its Board of Directors as concerns of competitive disruptions arose recently with the entrance of James Packer and possible co-investor Mr. Lachlan Murdoch into the company.

Global consumers, mainly car aficionados in the United States, will have to bear a year of waiting before they could get their hands on the electrically-powered Nissan Leaf as all units so far shipped out were sold out as of this week.

Microsoft reiterated that it will not be giving political contributions to "527 Groups" as doing so is opposed to the company's political principles.

Sydney Airport operator MAp Group has reported a 7 percent increase in earnings for the year attributing to passenger traffic, which also rose 19.5 percent.

The Australian stock market is gathering mixed leads in today's trading day as the last-minute decline in the Wall Street trading will have some influence, but analysts are more optimistic.

Analysts are projecting that the Curtis Island liquefied natural gas (LNG) project in Queensland by the British Gas Group could exceed the previously headlined cost of $US15 billion and even surpassed that of Santos’ Gladstone cost estimates of close to $US19 billion.

Kate Vale, Google Australia's Youtube chief and Lars Rasmussen, Google Wave's co-founder, will both be leaving their posts within the Internet company.

Ten Network Holdings Limited (ASX: TEN) says it notes recent media speculation about discussions between it and Mr James Packer and Mr Lachlan Murdoch following the announcement of CPH's acquisition of approximately 18 per cent of the issued capital of Ten Holdings.

Amidst its on-going struggle on the domestic front, national carrier Qantas Airways Ltd maintained that the local market is seeing a turnaround while its international operations head the same way but remain patchy.

The Australia Pacific LNG consortium of companies has advised relevant landholders, the Queensland Government, Western Downs Regional Council and Maranoa Regional Council of the results of chemical analysis of samples taken from water bores on properties where exploration wells that have recently been hydraulically fracture stimulated in the Surat Basin, west of Miles.

Self-employment is fast-emerging as a more popular alternative for Australian workers at this time as the new list of the country’s top employers also yielded a trend which shows that seven out of 10 workers would not think twice in ditching their current employment for a new placement.

Integrated forestry company Gunns Ltd (ASX: GNS) today downgraded its full-year earnings guidance.

Ten Network is yet to issue a statement on reports on the resignation of its chairman Nick Falloon following James Packer's joining the company.

International fast-fashion brand Zara is among stores anticipated to arrive as the Westfield Group opened the first stage of the $1.2 billion Westfield Sydney development today with 130 fashion and food specialty stores.

Despite its insistence of continuing to dump mine processing wastes into the sea, Newcrest Mining Ltd said on Thursday that it has a solid environmental track record even if its recent acquisition of Lihir Gold puts that record into serious scrutiny.

Banks today rejected claims made by politicians and others that they are making record profits due to reduced competition. As the reporting season gets underway, National Australia Bank reported a $4.22 billion profit while Australia & New Zealand Banking Group announced that profits soared to 69 percent.

Australian telco Telstra will be laying off almost 1, 000 of its employees, as it pursues a simpler business model.

Lachlan Murdoch is reported to be seeking half of James Packer's new stake in Network Ten (ASX: TEN.AU).

Telecommunications firm Telstra has announced that it will cut down 950 jobs across the country.