Business leaders exert more efforts in pushing for carbon emission tax
Australia’s business leaders need to unite and throw their support on the initiative that would set a price on carbon and establish an emission trading scheme in the country as the head of a giant property company asserted that climate change should be a dominant agenda of both business and political leaders.
Zinc miner Terramin stays on search for acquisition targets, projects upbeat outlook for global zinc prices
Junior mining firm Terramin Australia Ltd (ASX: TZN) said on Friday that its quest for acquisition targets is still underway as the company underscored its expansion plans by purchasing base metal projects that would deliver other opportunities aside from the companies core products of zinc.
Heemskirk pulls out from takeover bid of NQM, Conquest upbeat on its rival bid
Heemskirk Consolidated Ltd (ASX: HSK) has announced on Friday that it is set to opt out from its takeover proposal for North Queensland Metals Ltd (ASX: NQM) and would simply allow its standing offer to expire on September 10.
Qantas reaffirms two-brand approach amidst stiff competition in commercial aviation industry
Qantas Airways said on Friday that amidst the improving global environments, the aviation industry is still locked in a challenging situation which explains its commitment in to the two-airline approach that company said would provide more room for economic flexibility, market leverage and a solid cash flow.
Gold gains amidst rush to safe havens and bits of mixed news from US economy
Gold prices registered gains on Thursday’s closing as investors scrambled to secure bullion purchases in anticipation of the August job data that could lead to a tottering US labour market and the expected rush for the safe-haven investments.
Oil prices breaks $US75 barrier on heels of upbeat US economic data
As the US economy continues its slow recovery, oil prices barrelled through the $US75 per barrel with the light, sweet crude settled at $US1.11 to fetch $US75.02 a barrel on the New York Mercantile Exchange while Brent crude traded at $US0.56 to end up at $US76.91 a barrel on the ICE future exchange.
Economists blame weak export numbers and low commodity prices for short falls in July surplus
The Australian Bureau of Statistics (ABS) revealed on Thursday that the country’s trade surplus in July barely made it to the $2 billion mark, sharply detracting from the $3.438 billion surplus posted in the prior month and way below the $3.1 billion previously projected by most economists.
Woodside reaffirms sustained efforts for Browse LNG project in WA
As the Western Australian government started the process of compulsory land acquisition in the Kimberley region, north of WA, Woodside Petroleum Ltd declared on Thursday that the $1.25 billion work program for its Browse liquefied natural gas (LNG) development project will push through and completion should be expected by mid-part of 2012.
AGL takeover bid of Mosaic gets nod from independent assessment
Energy firm Mosaic Oil NL said on Thursday that PricewaterhouseCoopers Securities Ltd (PWC) had concluded that the acquisition proposal pushed forward by AGL Energy Ltd was wholly advantageous to the interests of the target shareholders.
Rio Tinto starts Brockman 4 site amidst expansion drive on its Pilbara mining operations
Rio Tinto Ltd’s expansion campaign in the Pilbara region is further boosted as the mining giant formally unveiled the operation of its $US1.5 billion Brockman 4 iron ore mine site in Western Australia.
Tasmanian Libs push for accelerated creation of energy panel inquiry
Tasmanian opposition leaders have been wondering why the government is taking too long in establishing the independent panel tasked to investigate the efficiency and effectiveness of the state’s electricity industry.
BHP modifies Potash bid, reiterates intents to purchase the aloof Canadian firm
Giant mining firm BHP Billiton Ltd has announced on Wednesday that it made some revisions on its proposal to acquire Canadian fertiliser maker Potash Corp of Saskatchewan, though the miner admitted that the adjustment were immaterial to the bid’s current status.
South Africa not bent on following Aussie lead, shoots down notion of a similar mining tax
South Africa is not about to follow the lead of the Labor-led Australian government as the country’s mines minister ruled out the possibility of a new mining tax similar to the proposed minerals resource rent tax, now in limbo as politicians struggle to form a government out of a hung parliament.
Australian mining firms pour growing investments in Africa
Australian investments on African mining projects have already reached a high of $20 billion while local resource firms with exploration interests in the continent and listed in the stock exchange had jumped from 2003’s level of 54 into its present size of 160.
James Hardie loses tax appeal case, sustains trading halt mode
Building product specialist James Hardie Industries SE would have to shell out a total of $370 million after all as its subsidiary RCI Pty Ltd’s tax appeal before the Federal Court was ordered dismissed on Wednesday.
WA Premier Barnett set to ditch talks with land council, plans force land acquisitions for LNG gas hub
Western Australia Premier Colin Barnett said on Wednesday that negotiations with traditional land owners in the Kimberley area has essentially bogged down and the state may have to compulsorily allocate land to be used by the proposed $30 billion LNG gas station.
Atlas upgrades reserve figures, aims to double output by 2012
Junior mining firm Atlas Iron Ltd (ASX: AGO) revealed on Wednesday an upgrade on its reserves that further supported its target of ramping up productions to 12 million tonnes per annum (MTPA) by the latter part of 2012.
Leighton secures $220 million Dubai contract
Giant contracting firm Leighton Holdings Ltd (ASX: LEI) announced on Wednesday that it is set to replace the current builder of a landmark project at Dubai International Financial Centre following the finalisation of its $220 million deal with UAE-based Daman Investments.
Potash Corp decries BHP moves of confusing its customers
Canadian firm Potash Corp has scored the apparent tactics of BHP Billiton Ltd to spread ‘doubt and confusion’ about the company’s future following the giant resource firm’s hostile bid for the world’s largest manufacturer of fertiliser.
Japanese newspaper reports of BHP coke price cuts in last quarter
A report published in a Japanese daily has indicated on Wednesday that BHP Billiton Ltd agreed to cut by seven percent coking coal prices that the company is set to ship into Japan for the last quarter of 2010.
CBA soars past big four rivals, leads in market share and satisfaction ratings
The Commonwealth Bank of Australia Ltd (CBA) is now the leading business lender in the country as it edged out the National Australia Bank Ltd (NAB) thanks to its remarkable satisfaction levels in the market.
Petsec Energy reports of losses due to stalled operations and uncertain situation in Gulf of Mexico
Oil and gas explorer Petsec Energy Ltd (ASX: PSA) reported on Tuesday that it suffered earnings retreat as the drilling moratorium in the Gulf of Mexico continues leading to dismal half year figures for the company.
WA Premier rejects report critical to planned LNG hub in Kimberley
West Australia Premier Colin Barnett shot down a university report that contends tourism in Kimberley would suffer once a planned LNG processing hub is established there.
Minara gains half year profit amidst low output and volatile markets
Mining firm Minara Resources Ltd (ASX: MRE) reported on Tuesday gains on its half year profit despite the prevalence of volatility in nickel and cobalt prices, which are the company’s present market focus.
RiverCity admits financial woes following write downs on Clem 7 tunnel
Toll operator RiverCity Motorway Management Ltd (ASX: RCY) said on Tuesday that it may have to deal with a substantial financial problem very soon following the $1.56 billion write downs of its Clem 7 tunnel road in Brisbane.
Holden says Commodore will soon run on Brazilian roads
A new line of Holden’s Commodore series will soon race through Brazilian roads as the car maker revealed on Tuesday that the new VE Series II model would be exported to the South American country under the name Chevrolet Omega.
Petrol fuel prices slide anew as CommSec predicts of cheaper pump prices
The Australian Institute of Petroleum (AIP) announced on Monday that the national average price of petrol fuel slipped by 124 cents each litre last week, which it said was the biggest drop from the past six months.
James Hardie halts trading while waiting for $300 million tax appeal decision
Building materials specialist James Hardie Industries SE announced on Monday that it would enter trading halt from 1400 AEST on September 1 pending the Federal Court decision on its appeal against a tax assessment that runs to more than $US330.4 million or $A366.62 million.
Confidence level among Australian farmers grow to record high in August
Global rural lender Rabobank Group said on Monday that business confidence among Australian farmers soared to a record level in August as commodity prices saw marked improvement with farm outlook further buoyed by the arrival of winter rains in most states.
Caltex picks Transfield for construction of its new WA terminal
Giant oil firm Caltex Australia Ltd (ASX: CTX) announced on Monday that it is tapping Transfield Services Ltd (ASX: TSE) for expansion works on the company’s fuel depot at Port Hedland in Western Australia.
