Erik Pineda

Virgin Money is adding up life insurance to its current portfolio of motor vehicle insurance as the company revealed on Thursday that it is set to forge an alliance with Tower Australia Group Ltd by early 2011.

Gold mining firm Beadell Resources Ltd (ASX: BDR) gears up further in divesting the company’s non-core assets as it announced on Thursday the $31.25 million sale of its Brazilian Amapa project iron ore royalty to Anglo Pacific Group Plc of London.

Copper mining firm CuDeco Ltd (ASX: CDU) said on Thursday that a major institutional investor infused placement investment of up to $20 million into the company, allowing the institution to get a 6.84 percent interest in the emerging resource industry player.

Amidst allegations that the Australian Tax Office (ATO) crossed the line of decency on its Project Wickenby campaign, the office of the Inspector-General of Taxation hinted on Thursday that a review may be necessary to check on possible excesses in ATO’s conduct as it goes after alleged wealthy tax evaders.

Mineral explorer Navigator Resources Ltd (ASX: NAV) said on Thursday that it is entering into a trading halt following the Wednesday announcement of a collapsed pit wall on the company’s Bronzewing Gold Project, near Perth in Western Australia.

Virgin Blue Holdings Ltd (ASX: VBA) got the nod this time following the series of setbacks on its proposed alliances with Delta Air Lines in US and Air New Zealand in trans-Tasman routes as the Australian Competition and Consumer Commission (ACCC) gave on Thursday its green light for the carrier’s planned collaboration with Etihad Airways.

The Australian and New Zealand Banking Group (ANZ) is set to face a $50 million class-action lawsuit filed by an estimated 27,000 ANZ account holders in the Melbourne Federal Court on Wednesday.

BHP Billiton Ltd has acknowledged that the global economy is on its way to recovery but the giant resources company maintained that spots of fragility still exists as it added that encouraging economic prospects in Asia give the mining firm a positive outlook for more growth in the years to come.

Air New Zealand Ltd decried the recent decision of the Australian Competition and Consumer Commission (ACCC) to block the carrier’s proposed alliance with Virgin Blue Holdings Ltd, emphasising that the competition watchdog’s move is a threat to its existence.

Utility investment firm Spark Infrastructure Group (ASX: SKI) said on Wednesday that it has launched capital raising of up to $295 million that the company would utilise in paying off debts of up to $200 million and fund its $85 million equity investments.

Mineral and metal explorer Diatreme Resources Ltd (ASX: DRX) announced on Wednesday that it has entered into a joint partnership with fellow Aussie miner Image Resources NL (ASX: IMA) following the agreement that the company sealed last month with a Chinese firm to develop the Cyclone and Cyclone Extended heavy mineral sand deposit in Western Australia.

Mining firm Gindalbie Metals Ltd announced on Wednesday that a $120 million contract to construct a power transmission line on its $2 billion Karara iron ore exploration site in Western Australia has been awarded to resource contract specialist Downer EDI Ltd (ASX: DOW).

Fresh from its revelation that it garnered a total of $US12.47 billion of profit during the financial year 2009/10, BHP Billiton Ltd (ASX: BHP) rewarded its top honcho Marius Kloppers with a nine percent spike on his salary compensation, leading to a total pay of $US11.3 million or $A11.86 million last year.

Western Australian Christmas shoppers would be able to store-hop at least until 9:00 pm on weeknights come the holiday shopping season as the state parliament gave its approval on Tuesday night to laws that permit shops to operate late and some to trade even on Sundays.

High-end retailer David Jones Ltd (ASX: DJS) has withstood tough times this year as the company reported on Wednesday that despite consumers’ tentative shopping behaviour and the dwindling benefits from fiscal stimulus to households, it still managed to register record profit for fiscal 2010.

Foreign Minister Kevin Rudd claimed that he and incumbent Prime Minister Julia Gillard do enjoy a working relationship, describing his present connection with the woman who deposed him as prime minister earlier in June as ‘positive’.

Gold miner North Queensland Metals Ltd's (ASX: NQM) pronouncement yesterday that Conquest Mining Ltd (ASX: CQT) was likely nearing closer on its quest to take control of NQM may be coming true after all as Conquest announced on Tuesday that its stake on the target company went up from 32.76 percent to 37.49 percent.

South Africa-focused coal miner Continental Coal Ltd (ASX: CCC) reported on Tuesday that it has surpassed the company’s monthly target of 100,000 tonnes when its July output reached a total of 101,899 tonnes of thermal coal at its Vlakvarkfontein coal mining site.

The Liberal National Party (LNP) in Queensland urged the state government on Tuesday to issue guarantee on residents that the existing price caps on energy would remain in place as the opposition party anticipates the looming electricity and gas market review in 2012.

Oil and gas explorer Bow Energy Ltd (ASX: BOW) said on Tuesday that negotiations for strategic partnership with Liquefied Natural Gas Ltd has bogged down and so is the possibility that the two firms would collaborate on the planned liquefied natural gas (LNG) project in Gladstone, Queensland.

Junior mining company Avanco Resources Ltd (ASX: AVB) saw its market stocks climbing to steep levels as the company revealed on Tuesday that its drilling activities in Brazil yielded high copper grades that could see production very soon.

Power generator Alinta Energy Group (ASX: AEJ) said on Monday that it has struck a deal with its lenders that would see the company’s $3.5 billion debt being wiped out by sale of its assets to a company controlled by the lending consortium.

The Western Australian government said on Tuesday that works are currently underway to strengthen the reliability and security of the state’s energy sector as it announced that a new contract would take effect between power retailer Synergy and energy producer Verve.

The Chamber of Commerce and Industry in Tasmania is mulling the possibility of re-consolidating the state’s power generators in hopes of rationalising the region’s energy business following the spiralling electricity costs seen in the state lately.

Energy firm New Hope Corporation Ltd (ASX: NHC) said on Tuesday that it still netted significant profit despite the substantial earnings slide it saw during the past full year as coal productions and exports of the company reached new heights for the year while sale of a major asset ensured its profitability.

Giant mining firm BHP Billiton Ltd (ASX: BHP) revealed on Tuesday that it has extended the period of its takeover bid for Canadian fertiliser producer Potash Corporation of Saskatchewan for another 30 days following receipt of notice from the Canadian Competition Bureau.

Perth-based Arafura Resources Ltd (ASX: ARU) said on Monday that it has been informed by the South Australian government that the company’s breakthrough rare earths processing complex would be given major project status.

Australia needs to increase the entry of skilled migrant workers, at least temporarily, if it hopes to avoid considerable damage on its economy as an immigration expert cautioned that particularly vulnerable on the growing skill shortages is the country’s IT industry.

Uranium explorer Toro Energy Ltd (ASX: TOE) said on Monday that it is nearing the realisation of its uranium mine site following the approval granted by Western Australia’s Environmental Protection Authority (EPA) on the company’s scoping document for its Wiluna project.