Christine Gaylican

The government of Australia may be willing to compromise and put up new concessions on its proposed minerals resource rent tax that will satisfy the country's mining industry.

No less than Australian Prime Minister Julia Gillard has joined the fray in publicly criticising the country's banks for imposing higher rates above that of the Reserve Bank.

The Australian dollar has hit again the high note against the US currency as a result of the U.S. Federal Reserve's decision to pour more money into the American economy in the coming months.

Strativity Group, a leading provider of customer experience services, today announced it has opened an office in Sydney to support growing interest from Australian and New Zealand organisations in adopting customer-centric approaches and proactively managing their customer experiences.

The Queensland government has recently granted the approval to Xstrata Zinc Australia's expansion project of the George Fisher Mine in Mount Isa.

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.

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.

Australian government authorities can only warn banking institutions to temper their rate increases, thus, banking reforms and new rules are now being considered to be in place to protect the public.

The Reserve Bank has raised its key interest rates by 25 basis points to 4.75 percent from 4.5 percent to contain further economic expansion in the near term.

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.

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.

The Australian dollar may weaken in today's trading if the Reserve Bank of Australia keeps interest rates unchanged once more as the economic growth momentum also gradually improves.

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.

Australia's largest investment bank, Macquarie Group Ltd. will pursue further expansion in spite higher staff costs that slashed down first-half profits generated from its core equities trading and commodities businesses.

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.

Australian investment bank Macquarie Group Ltd. is now under pressure to slash down its workforce to cope with the lower trading and merger fees.

Australia & New Zealand Banking Group Ltd. has reported that profits soared to 69 percent as a number of its nonperforming loans dropped significantly.

Australian Prime Minister Julia Gillard met with BHP chief executive Mr. Marius Kloppers on Wednesday in an effort to save the agreement signed with the mining industry now on the brink of collapse.

The Australian banking industry is again facing tough calls from policy-maker led by opposition's Mr. Joe Hockey.

A sluggish day for the Aussie dollar and commodities is seen as the US dollar appreciated with the better-than-expected results of consumer confidence survey and home sales picking up at this time in the United States.

ANZ Banking Group plans to spend $250 million to increase its stake in Shanghai Rural Commercial Bank (SRCB).

Uranium producer Paladin Energy Ltd has issued an estimated $A304-million worth of convertible bonds to re-pay maturing debt obligations and expand its mining areas in the country and in Africa.

The nine Australians on board a tourist vessel near the shores of earthquake-hit Sumatra, Indonesia were declared safe, the Australian Department of Foreign Affairs and Trade said.

Australia is likely to raise its economic growth targets on the back of higher employment numbers during its mid-year budget assessment in December.

National Australia Bank has reported a 63 percent jump in net profits to $4.22 billion, due to lower charges slapped on its nonperforming loans.

A mixed performance of global stocks is seen to create a bearish mood in the Australian stock markets today.