Christine Gaylican

Lease and housing rentals in Australia's capital cities are likely to increase annually between 3 to 7 percent in the next two to three years, reports said.

Andrew Thomas, owner of the "XSport Games" trademark, lost his infringement case launched by media giant ESPN Inc against him and is now prohibited from organising and staging the sports spectacle anytime soon.

Fairfax Media intends to cash it on its popular news websites The Age and The Sydney Morning Herald to further propel revenues in the near term.

Australia's mining giant BHP Billiton is seen targeting oil and gas producer Woodside Petroleum Ltd. to make up for its failed bid for Canada's Potash Corp., a report by Morgan Stanley said.

XStrata Plc was able to secure a controlling stake equivalent to 51.12 percent in Sphere Minerals, while remaining rival China-backed Sin-Tang continues to tighten its grip in its shares in the company top up its holding.

Krispy Kreme Australia will close down 21 stores across the country (15 stores in NSW, five in Victoria and one in Queensland) as part of restructuring efforts to meet financial obligations.

Australian mining firms Brockman Resources Ltd. and Ferraus Ltd. have been offered A$929 million by Hong Kong firm Wah Nam International Holdings Ltd. to increase its shareholdings in the company.

Employers in Australia employers hired new workers in October. This would be the eighth month that more companies hired additional people to boost their work force.

The Australian Competition & Consumer Commission will carefully scrutinise the proposed takeover of ASX Ltd. by Singapore Exchange Ltd.

Two of Australia's major banks, Westpac Banking Corporation and the National Australia Bank (NAB) are seen following its two competitors in implementing higher interest rates after government authorities tighten up on exit fees.

Bega Cheese has bought a $22 million or equivalent to 15 percent stake in the Victorian dairy company Warrnambool Cheese and Butter (WCB).

The Industry Funds Management and the Queensland Investment Corporation has acquired the Port of Brisbane for $2.3 billion, reports said.

Home loan approvals improved in September before the central bank's rate increase, but analysts are wary that this will not be sustained in the next 12 months.

Australia's biggest wheat producer AWB Limited (ASX: AWB) has posted a net loss of more than $55 million for fiscal year 2010 as the drought affected the quality of the grains produced and the nearing merger with the Canadian firm Agrium Ltd (TSX and NYSE: AGU).

Consumer confidence in Australia skidded to a five-month low as family finances became tighter due to rising mortgage fees, following the interest rate adjustments early this month.

The Australian Competition and Consumer Commission warned executives of Qantas Airlines Ltd. that it maybe criminally liable for an alleged involvement in a price-fixing cartel along with 11 other air cargo companies fined by the European Commission.

Luxury homes will be auctioned tonight at the Sydney Opera House as 11 prime pieces of property including five in Sydney and one in Brisbane will be up for grabs and estimated to cost A$30 million.

High-level talks between the United States and Australia will take place today as U.S. Secretary of State Hillary Clinton initiated discussions on China's monopoly of rare earths, which are used as key components in military systems.

Equinox Minerals Ltd., the Australian copper producer has turned in some $71.2 million profits in the third quarter as production at its Lumwana mine in Zambia increased.

The latest KPMG Fraud and Misconduct Survey has revealed Australian and NZ finance companies are more vulnerable to lending fraud and bogus insurance claims for the last two years.

Australian coal hauler and transporter QR National Ltd. has received keen interest from foreign investment managers for its $5 billion dollar initial public offering (IPO) before its formal offering on November 22

The Australian currency's appreciation against the US dollar will also mean lower export earnings for local industries, which would also entail declines in their tax remittances to government.

Travelers flying on Qantas Air will experience delays as the company shuffles its fleet to cover the grounded A380s, Qantas spokesman Simon Rushton said.

Foreign banking institutions in Australia are eager to take advantage of a more competitive environment in the country's financial sector that the Federal government is considering to implement.

Ten Network Holdings Ltd. (TEN.AU) chairman Nick Falloon have agreed to set down from his post to resolve pending issues with new shareholder James Packer.

Qantas Airways Ltd. and engine makers Rolls-Royce Group Plc with Airbus SAS have started an investigation of the malfunctioning plane engine that put 459 people in danger yesterday.

The American Republican Party's landslide victory in this year's mid-term elections in the United States will spell trouble for the administration of President Barack Obama.

A Qantas A380 plane has been forced to fly back to Singapore's Changi Airport after pilots found one of its engines malfunctioning and were forced to shut down.

The weak US dollar will continue to fuel the higher prices of commodities considered as the next safest forms of investment.