Erik Pineda

It was maybe an afterthought but Myer Holdings Ltd (ASX:HVN) chief executive Bernie Brookes expressed regret on Friday that his company went public last year as he revealed frustrations on dealing with shareholders, alluding to the experience as similar to ‘herding cats’.

Electrical retailer Harvey Norman Holdings Ltd (ASX: HVN) said on Friday that it saw an eight percent growth on its annual profit as it added that further growth could be expected in the current financial year.

Toll road operator Intoll Group Stapled Securities (ASX: ITO) announced on Friday that it has endorsed the revised takeover proposal of its suitor Canada Pension Plan Investment Board (CPPIB), stating that the new bid was an enhancement of up to 2.5 percent from the original submission in July.

The Australian Tax Office (ATO) is set to meet with lawyers of actor Paul Hogan on Friday to discuss the movie star’s chances of flying out from Australia following a hold-departure order on him due to an alleged multi-million dollar tax question.

Fairfax Media Ltd (ASX: FXJ) announced on Friday that it has regained profit for 2010 financial year despite a slide on its overall revenue as it looks forward for more growth in the remaining months of the year.

A consumer group called on giant grocery chain Coles Supermarket to toe the line and follow the lead of its rivals, ALDI and Woolworths, which recently implemented the online publication of their in-store grocery prices.

Rio Tinto chief executive Tom Albanese said on Thursday that lingering uncertainties may continue to hound further growth of the resource industry but he assured that despite the hurdles, the sector’s long-term prospect remains strong.

Western Australia mining firm Fortescue Metals Group Ltd (ASX: FMG) reported on Thursday that its full year net profit for fiscal 2010 reached $US581 million or $A657, registering a 14 percent spike from the $508 million the company previously posted in the 2009 financial year.

Retail giant Woolworths Ltd (ASX: WOW) reported on Thursday that it has surged past its market growth forecast of $1.99 billion and posted a statutory net profit of $2.02 billion in fiscal 2010 despite its overall revenue advancing only by measly 4.2 percent in the same period.

Virgin Blue Holdings Ltd (ASX: VBA) said on Thursday that it has regained profit status in fiscal 2010 as it announced further growth strategies by forging more global partnerships and upgrading its domestic fleet with fresh Airbus aircrafts.

Citing lower passenger traffic amidst the pressure-laden economy, Air New Zealand announced on Thursday that its full year earnings before tax for fiscal 2010 fell by six percent to $NZ137 million or $A108.98 million.

Paint manufacturer Wattyl Ltd (ASX: WYL) disclosed on Wednesday that it has received an assurance from the Australian Competition and Consumer Commission (ACCC) that it would intervene on the company’s merger plans with US firm The Valspar Corporation.

The Australian Bureau of Statistics (ABS) revealed on Wednesday that overall construction work completed in the second quarter of 2010 soared to a record high $41.7 billion as residential building activities surged during the past three months leading to end of June.

As the government, the opposition and the independent MPs are set to gather in Canberra on Wednesday to discuss the creation of a working parliament, business leaders in Queensland have voiced out their concerns that a hung parliament could prove indifferent to the business community.

Road management firm Transfield Services Ltd (ASX: TSE) said on Wednesday that it has sealed a preferred contractor status for a $US172 million or $A195.21 million contract with Canada’s Ontario Ministry of Transportation.

US federal regulators announced on Tuesday that two Spanish investors were charged with insider trading as they tried to capitalise on BHP Billiton Ltd’s recent bid to takeover Canadian firm Potash Corp of Saskatchewan.

Reports published in a Canadian newspaper on Tuesday have indicated that giant mining firm Rio Tinto Ltd is seriously mulling a takeover bid for PotashCorp of Saskatchewan, with a Chinese partner in tow.

The Australian and International Pilots Association (AIPA) expressed apprehensions on Tuesday that Jetstar’s accelerated pilot training program could put cadets with less experience in control of the company’s fleet of aircrafts.

New South Wales retailers expressed indignation on Tuesday as property group GPT announced its decision to abandon its $600 million Newcastle inner-city development project and blamed the state government for refusing to support the Hunter Development Corporation (HDC) renewal report.

Travel agency firm Flight Centre Ltd (ASX: FLT) said on Tuesday that it has garnered a three-fold full year profit growth for fiscal 2010, declaring that further earnings growth could be expected for the remaining part of the year.

In its sustained campaign to gain more foothold into the ballooning iron ore market, Swiss mining giant Xstrata announced on Tuesday that it is set on a friendly takeover of Sphere Minerals Ltd.

Tiger Airways said on Tuesday that it would stop servicing routes between Adelaide and Brisbane and between Adelaide and the Gold Coast starting November 11 due to the dismal performances of the flight destinations.

Amidst the company’s demerger plans for its beer and wine businesses by 2011, brewer and winemaker Foster’s Group Ltd (ASX: FGL) reported on Tuesday that it suffered an annual net loss of $464 million for fiscal 2010.

Prime Minister Julia Gillard said on Monday that she is duty-bound to honor the agreement she forged with the mining industry on the minerals resource rent tax just before the federal election.

A mixture of local and foreign resource analysts said on Monday that giant mining firm BHP Billiton Ltd (ASX: BHP) is set to report a full year profit of $US12.6 billion once the company’s results are made public on Wednesday this week.

Moody’s Investor Services said on Monday that Virgin Blue Holdings Ltd’s (ASX: VBA) recent decision to halt all its domestic service routes within New Zealand would redound to considerable benefits for its rivals, Qantas and Air New Zealand.

With a deadlocked election results and a prospect of no definite government in place for a few more days, CommSec said that Australia may be in for some overhauls which could render an uncertain market conditions, temper the ambitious NBN project and finally seal the demise of the polarising mining tax.

Utility investment firm Spark Infrastructure Group (ASX: SKI) said on Monday that its first half profit for the current year suffered a retreat of almost 20 percent but the decline could be easily reversed as the company projects firm movements on its electricity distribution operations this year.

Mining firm Gindalbie Metals Ltd (ASX: GBG) jumped to the next stage of its Karara iron ore project as it announced on Monday that it has inked a deal with Oakajee Port and Rail that would define its use of the deepwater port near Geraldton in Western Australia.