COMPANIES

Australia's three top mining companies have called a meeting with the government to clarify the tax agreement seen on the brink of collapse.

Microsoft Australia launched Office 365 today. Dubbed as Microsoft's next generation software in cloud productivity, Office 365 aims to bring together Office, SharePoint, Exchange and Lync online in a cloud service.

Global mining firm Rio Tinto Ltd said on Wednesday that it is sticking with an earlier deal sealed with the federal government on the minerals resource rent tax, notwithstanding the reservations recently aired by its fellow giant miner BHP Billiton Ltd.

Toll road operator Intoll Group Stapled Securities (ASX: ITO) reported on Wednesday that the Canadian firm seeking to purchase the company has been granted approval by Australia’s Foreign Investment Review Board (FIRB) to finalise its takeover bid on Intoll.

Consumers are warned of the Tylenol 8 hour caplets with lot No. BCM155 (bar code No. 3 0045-0297-51 8). They should immediately be returned to the manufacturer.

With emerging reports on Wednesday that the provincial government of Saskatchewan has already decided on disapproving its close to $US40 billion or $A41.43 billion takeover bid on Canada’s Potash Corporation, BHP Billiton Ltd declared on the same day that it is able to deal with all the concerns of the proposal.

The Australian government is set to decide on the liquefied natural gas venture project of Santos Ltd. and BG Group PLC Origin and partner ConocoPhillips in Queensland on Oct. 22.

Giant telecommunication firm Telstra Corporation Ltd (ASX: TLS) saw a record dip on its market shares on Wednesday following the large-scale divestiture instituted by the company’s biggest shareholder and a threat of structural split up from federal authorities.

Any upward adjustments in the mining royalty rates to be implemented by states and territories will all be unacceptable to Prime Minister Julia Gillard as this would put Australia's top mining resources industry at risk.

It was billionaire gambling operator James Packer who caused the tremor movements of Channel Ten market shares as confirmation was made on Wednesday that Mr Packer paid a whopping $245 million to secure a 15 percent stake on the company through his private firm Consolidate Press Holdings.

The Australian mining industry and authorities are again headed for another serious debate with regards if taxes and royalties issues are not resolved immediately.

Toyota Australia is set to ship its 500,000th vehicle to Saudi Arabia tomorrow, the company announced on Wednesday.

Government sources revealed late on Tuesday that the provincial authorities of Saskatchewan were set to ditch BHP Billiton’s $US38.6 billion or $A39.98 billion takeover proposal for the Canadian firm Potash Corporation, dashing hopes by the giant resources company to secure additional profits from the anticipated demand spikes in fertiliser coming from China and India.

BHP Billiton Ltd. (ASX: BHP) has reported a 6 percent increase in its iron ore production, which meets higher steel demand and promotes wider expansion in Western Australia.

Giant retailer Woolworths Ltd (ASX: WOW) welcomed a ‘solid start’ on its new financial year as its first quarter sales surged by 4.1 percent while the company’s petrol volume turnovers jumped by 3.3 percent in value.

Airport operator MAp Group (ASX: MAP) saw its daily passenger traffic for both of Sydney Airport’s international and domestic segment breaching the 100,000 mark in September, which is a record month for the terminal according to company officials.

Australian consumers are now quite careful with their use of their credit cards, which may pose a threat to credit card issuers in Australia.

Rio Tinto is set to increase investments a further to US$3.1 billion (Rio Tinto share $2.1 billion) in expanding its iron ore infrastructure in the Pilbara.

The sudden tightening of fiscal policy in China again is seen sending a new wave of tests on the inner strength of the Australian dollar and equity markets.

Brokerage firm UBS advised its clients on Tuesday to expect declining coal and petroleum production for the September quarter from giant resource firm BHP Billiton Ltd but better iron ore and other mineral output for the company as its quarterly results were set to be made public on Wednesday.

In order to sustain its economic success, Australia needs to train its business eyes beyond its borders and reaffirm economic reform commitments or face an uncertain future.

Disney, Paramount and Marvel Entertainment announced that the worldwide marketing and distribution rights for Iron Man 3 and the Avengers of Paramount will be transferred to Disney which acquired Marvel Entertainment last year.

Amidst claims by some prominent fund managers of a too steep share prices for its public float, officials of QR National maintained that the prices were based on careful analysis by the Queensland government that have so far attracted considerable attention from investors.

Credit ratings agency S&P has given a triple B+ rating on Australia's biggest gaming firm Tabcorp Holdings Ltd.

Australian copper and gold mining firm OZ Minerals Ltd. said annual gold production will exceed earlier forecast by 10 percent based on third-quarter output rose to 51,451 ounces as of end-September.

A New York-based private equity firm has offered to acquire Australia's Perpetual Ltd. (ASX: PPT) for A$1.75 billion to take advantage of the higher yielding assets available.

The Finance Sector Union (FSU) today slammed Westpac's decision to cut its Asgard work force in Perth by one third. The bank's decision will see 120 jobs lost from Westpac's wholly owned subsidiary, Asgard's Perth operation.

Supermarket giant Coles is now set to shake up Australia's home and contents insurance market, following the launch of its car insurance product.

After years of continuous growth in the number of Australians choosing GreenPower electricity plans, the green tide has turned as 138,000 households ditched their GreenPower plan over the last 12 months.