COMPANIES

Neither major political party has a policy on something that affects every Australian, every day - food and groceries, the Australian Food and Grocery Council (AFGC) said today.Highlighting that Australia's $100 billion food and grocery industry is four times larger than the automotive sector and em...

Westpac Banking Corporation (ASX: WBC) denied on Tuesday circulating speculations that the bank is about to launch a strategic move on Asia as it clarified that the company is maintaining its concentration on its Australasian business operations.

Telstra (ASX:TLS), through its philanthropic arm, today committed $3.5 million to support five projects driven by Indigenous leaders to improve education, create leadership opportunities and promote cultural pride among young Indigenous Australians, according a statement from the Telstra foundation.

Optus today announced that it will offer the iPhone 4 in Australia on July 30 with a range of plans.

Australian submarine- and ship-building company ASC announced today the appointment of Paul Gay as General Manager for its Air Warfare Destroyer Project.

Wesfarmers Ltd (ASX: WES) reported on Tuesday that coal production on its Premier mine site near Collie in Western Australia suffered an output decline of 7.6 percent in the June quarter.

Sir Richard Branson launched the first phase of Virgin Money's new range of banking products this morning, heralding a new era of competition for the Australian banking industry.

Real estate developer Australand Property Group (ASX: ALZ) said on Tuesday that its half-year net profit has more than doubled, enabling the company to reach its full year earnings guidance for fiscal year 2010.

More than 50 percent of Australian executives are being negatively affected by late payments, according to a survey by Dun & Bradstreet.

Newcrest Mining Ltd (ASX:NCM) has signed a Heads of Agreement to obtain at least a 7.1 per cent stake in British firm Sumatra Copper and Gold Plc.

The National Highway Traffic Safety Administration (NHTSA) said Monday that Nissan is recalling 46,000 units of the 2009-2010 Cube due to possible problems with fuel spilling during rear end collisions.

Victoria’s train services suffered chaotic delays on Tuesday morning as power was cut on Metro’s transport system at about 0500 AEST when a train got entangled by overhead broken wires between South Cross station and North Melbourne station.

UK's financial services giant Virgin Money has selected Sydney for its new headquarters in Australia.

Queensland-based coal mining company Macarthur Coal Ltd (ASX: MCC) has abandoned a $110 million deal to buy out CITIC Resources' interests after some minority interests failed to give up their pre-emptive rights in the project.

Insurance Australia Group Ltd (ASX: IAG) expects to post a decrease in annual profit in fiscal 2010. The company said it forecasts better performance next year and has made changes to its executive team.

Top central bankers and regulators around the world said yesterday they had agreed on new standards to ensure the banking system could survive any new financial crisis.

Kraft brings back the iconic 'Happy Little Vegemites' ad to the TV screen, using a reworked version of the original tune and visuals, as part of a new campaign to promote the typically Australian breakfast spread Vegemite.The new television commercial, which launched yesterday, combines the original...

Kirin Holdings has cut its sales and profits forecast for the first half of 2010.Kirin expects net sales to be JPY43bn (US$492m) for the six months to the end of June, 14% lower than previously predicted, the Japanese drinks giant said today (26 July).It added that net profits are expected to be JPY...

Coles retail sales growth in the fourth quarter has once more topped Woolworths. ?Total Coles’ food and liquor sales for the fourth quarter were $5.9 billion, up 4.2 per cent, with comparable food and liquor store sales growth of 4.2 per cent.Total Coles’ food and liquor sales for the financia...

A Sydney company director has been fined $16,900 for underpaying eight of his former staff. The employees, who received no money at all for weeks on end, were underpaid a total of more than $31,000.

An economic analyst has suggested the hyped debate over Australia’s sustainable population has overshadowed the country’s problem on housing shortage.

Wesfarmer's Coles has announced in a company statement today that it has signed a new two year agreement as the exclusive supermarket sponsor of Network Ten's MasterChef Australia.

The Directors of data and transaction services company Connxion Ventures Limited (ASX: CXN) today announced that based on June billings and unaudited financial accounts, full-year revenue for 2010 are now expected to be $12.6 million, a 14.5 percent increase on the previously announced forecast of $11 million.

A resumption of the publicity campaign against the Labor government’s Mineral Resources Rent Tax is part of political schemes aimed at the elections, Treasurer Wayne Swan claims.

Colin John Carleton, a Bendigo Bank manager of the Atherton branch in Queensland, has confessed to theft of bank funds worth about $3 million.

Wesfarmers says the market share of Coles supermarket lagged behind in the 2009-10 fiscal year and more work was required to make a successful recovery.

Australia's largest project development and contracting group Leighton Holdings (ASX:LEI) said today that its wholly owned subsidiary Leighton Asia has secured a A$172 million contract for the provision of mining services at the Martabe Gold Mine in North Sumatra Province, Indonesia.

Electrical and furniture retailer Harvey Norman Holdings Ltd (ASX:HVN) has posted a moderate rise in full-year sales, although its fourth-quarter figures were hit by weaker consumer sentiment.

The Australian bourse was floating in morning trade after higher-than-expected sales figures from Wesfarmers and gains in banking shares.