COMPANIES

SA welcomes Arafura Resources

The South Australia Government is glad to have Arafura Resources Limited (ASX: ARU) operations in the state's third most populous city.

RBA trusts Australia's banks

The Reserve Bank of Australia (RBA) analysis shows Australia's banks will be able to satisfy the Basel III requirements.
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Aevum awaits decision of Stockland Corp

Retirement village operator Aevum Limited (ASX: AVE) awaits an updated opinion after property investment firm Stockland Corporation Limited (ASX: SGP) increased its bid.

Employers complain of overtating during interviews

Finance recruitment firm Robert Half International found a significantly high number of employers complaining about job applicants who have exaggerated their work experience during the recruitment process.

WA hospital union demands pay hike

The Liquor Hospitality and Miscellaneous Workers Union (LHMU) insists on a reasonable pay increase in order to end the work-to-rule ban in hospitals across Western Australia.

Coles reveals new store format, wants Sunday trading hours flexibility

Wesfarmers Ltd (ASX: WES) subsidiary Coles Supermarket said on Thursday that it is set to open some 100 new format stores within the current financial year, with about 60 new format supermarkets already operating in the whole of Australia, which the company said was integral to the fiver-year recovery blueprint for Coles.

Virgin needs time for Delta response

Australian airline company Virgin Blue requested the U.S. Department of Transportation for a three-week extension for submitting its argument.

Myer reports of declining net but still upbeat on new financial year figures

Retail firm Myer Holdings Ltd reported on Thursday that its full-year net profit plunged by almost 40 percent for fiscal 2010 as the after-effects of the global financial crisis wreaked havoc on consumer confidence, further deteriorating the already difficult business environment the company had faced on the past financial year.

Reed Resources mulls spin offs for some projects, fine tunes two major mines

Mineral resource firm Reed Resources Ltd (ASX: RDR) said on Thursday that it may be spinning off some of its various project portfolios in Western Australia though the company said that it is holding on to the Barrambie vanadium project while plans are underway to reactivate the Comet gold project in Kalgoorlie by June 2011.

Queensland free from Origin project costs

Origin Energy Limited (ASX: ORG) and PNG Energy Developments will undertake an 18-month feasibility study for building an 1800 megawatt power plant on the Purari River in the Papua New Guinea (PNG) highlands.

Origin renews plans for hydroelectricity project

Origin Energy (ASX: ORG) announced today it will sign an agreement with the governments of Papua New Guinea and Queensland to support the potential development of a renewable hydroelectricity project.

Focus Minerals gains three-fold profit on higher production rate

Gold mining firm Focus Minerals Ltd said on Wednesday that the company’s annual profit for fiscal 2010 soared by more than 300 percent as its newly-refurbished treatment plant paved the way for better-than-expected output that led to a 50 percent increase on its production rate.

McInnes disposes David Jones shares

Mark McInnes, former chief executive of Australian department store David Jones Ltd (ASX:DJS), has disposed about a fifth of his shares in the company since his departure in June, in order to raise $1.2 million to settle a tax obligation linked to his hasty exit.

Woolworths issues $1.25bn in US bonds for debt repayments

Australian conglomerate Woolworths Ltd (ASX: WOW) announced on Wednesday its issuance of up to $US1.25 billion ($A1.33 billion) worth of US bonds that the company said would be utilised to refinance its existing debt facilities.

Challenger to unfreeze $500 million

The Challenger Financial Services Group will be reopening its Howard Mortgage Trust and “recommence commercial lending” through a restructuring scheme.

Stockland is still on Aevum

Stockland Corporation Limited (ASX: SGP) could launch another takeover attempt for Aevum Limited (ASX: AVE) in six months.

Cleveland gets ex-Rio Tinto boss

Australian gold company Cleveland Mining today announced it has secured mining heavy-weight Donald Bailey as a non-executive director.

Allied Brands keeps Baskin Robbins

Food and retail franchisor Allied Brands (ASX:ABQ) said today it still has the rights to distribute Baskin Robbins products in Australia.

Greens are pushing it

The kingmaker Greens are beginning to use their influence on the prime minister and her court.

Future Fund GM seat vacant next year

Future Fund's Board of Guardians is searching for a new general manager after current GM Paul Costello announced his intention of leaving the $87 billion organization.

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