Erik Pineda

The Australian Greens Party said on Friday that they would work on stopping the country’s four major banks from collecting $2 inter-bank ATM transactions, which they asserted is being shunned by financial institutions in the United Kingdom.

Property investment firm Mirvac Industrial Trust (ASX: MIX) said on Friday that a default would most likely occur on its $123.5 million debt facility following the company’s forced re-negotiations in extending the facility’s maturity date on August 7.

Nobel-laureate Joseph Stiglitz said on Friday that Australia has the Labor-led government to thank for when it steered the country out of harm’s way during the 2008 global financial crisis, indicating that such track record is hard to ignore when the time comes for electing new set of leaders come the August polls.

The New Zealand Commerce Commission announced in a draft report published on Friday that no further regulations would be required on Telecom New Zealand’s two backhaul links as the connections were already subject to competition.

Budget carrier Jetstar Airways announced on Thursday that it is embarking on management restructuring in light of its accelerated expansion plans for both domestic and international service routes.

Australia’s coal producers are facing stiff competition from Mongolia and Canadian mining magnate Robert Friedland is predicting that the country could eventually lose a sizeable share of its global market from Mongolia’s lower tax measures for its resource industry.

Australia’s superannuation system is still plagued by noticeable loopholes and requires some serious tinkering, that according to Superannuation Minister Chris Bowen as he reacted on ABC’s Thursday news that the country’s retirement fund only managed to collect an increase of three percent in returns since 1997.

Global media group News Corporation (ASX: NWS) revealed on Thursday that it has regained profitability in financial year 2009/10 with its net profit of $US2.54 billion or $A2.77 billion after bleeding huge losses on the year before as the company attributed growths on its business segments, stronger advertising markets and strings of blockbuster films for the impressive recovery.

Deputy Prime Minister Wayne Swan expressed elation on Thursday that former Prime Minister Kevin Rudd vowed to campaign for the Labor Party once he has recovered from his gall bladder surgery.

New data published by IPA recruitment agency on Thursday showed that national job vacancies improved by 13.9 percent in the month of July, the first upswing movement in Australia’s employment rate since March of this year.

Premier David Bartlett formally unveiled on Wednesday the $32 million Saffire Resort, Tasmania’s first boutique luxurious resort which boasts of 20 premium suites that command a panoramic view of the Coles Bay area.

A major Aevum Ltd (ASX: AVE) shareholder stressed on Wednesday that Stockland Corporation Ltd (ASX: SGP) could do much better than its rejected offer of $266 million in its bid to takeover the retirement village operator.

Deputy Prime Minister Wayne Swan calls on opposition leader Tony Abbot to convince his ‘friends’ in big tobacco companies to halt their ad campaigns against the federal government’s plain cigarette packaging measure.

Insurance and investment firm AXA Asia Pacific Holdings Ltd (ASX: AXA) issued confirmations on Wednesday on its earlier announcement that its net profit retreated to $219 million in first half of 2010, suffering a slide of 19 percent from the $270 million netted last year.

New figures published by the Australian Bureau of Statistics (ABS) on Wednesday showed that the country’s trade surplus registered at $3.539 billion in June, pointing to a gain of $1.714 million when compared to a previous corresponding period.

Private buyers raised up the ante on motor vehicle hunting in July as new vehicle sales soared by ten percent in the month compared to the sales figures posted in 2009 on the same month, with most customers taking a preference on the now-ubiquitous SUVs.

Coal producer Linc Energy Ltd (ASX: LNC) said on Wednesday that it has sold its mining rights at the Galilee Basin exploration site, located in central-west of Queensland, for $500 million to Adani Enterprises of India.

Paint manufacturer Wattyl Ltd (ASX: WYL)on Wednesday that it has regained profit status this year, revealing that the company garnered an unaudited annual net profit after tax of $5.2 million for the 2010 financial year.

Big tobacco companies appear to be taking the offensive this time against the Labor government’s anti-smoking campaign as the Daily Telegraph reported on Wednesday that the Alliance of Australian Retailers (AAR) paid for a full-page advertisement in tomorrow’s newspapers outlining its apposition on the federal government’s policy against cigarette use.

Babcock & Brown was solid enough and well positioned to face any financial troubles for at least ten months prior to its failure, according to the testimony given by the investment bank’s former director before a Federal Court on Tuesday, as investigation on the bank’s failure continues.

Construction firm BrisConnections Unit Trusts (ASX: BCSCA) said on Tuesday that it is expecting a full year capitalised construction and financing costs of $1.88 billion and basing on its latest report, the company is also revealed a capitalised costs of $551 million covering the first six months of 2010.

Fortescue Metals Group chair Andrew Forrest said on Tuesday that the federal government would be better off should it decided to completely dump the proposed mining resource rent tax as it would only benefit Xstrata, BHP Billiton and Rio Tinto, three of Australia’s largest mining firm.

Manufacturing firm Hills Industries Ltd (ASX: HIL) reported on Tuesday that its net profit for the past 12 months leading to June 30 soared to a remarkable 322.7 percent to $40.188 million as the company’s eco products division and home hardware experienced a significant recovery in 2010.

Prime Minister Julia Gillard said on Tuesday that her government is all about job creation and retention and the Australian economy as a whole, as she pointed to Labour’s sterling record of economic management, which she asserts could easily speak for itself.

Amidst circulating reports that giant oil firm Royal Dutch Shell may be eyeing Nexus Energy Ltd (ASX: NXS) as a takeover target, the energy company’s shares saw a steep climb on Tuesday.

The Australian Dental Association (ADA) said on Tuesday that 68 percent of students currently enrolled in schools across the country showed signs of tooth erosion and dentists are pointing to the overconsumption of soft drinks and energy drinks as the likely culprit.

Tiger Airways and Thai Airways International jointly announced on Monday that they are set to form an alliance that would start servicing routes in Thailand by the first quarter of 2011, en route to establishing some presence in promising markets in the Asia-Pacific regions.

The Australian Federation Against Copyright Theft (AFACT) said on Monday that iiNet was well aware of copyright violations committed through its facilities since film studios had duly informed the internet service provider on the cases of illegal downloading of movies.

Canadian gold mining firm Barrick Gold Corporation (TSE: ABX) said on Monday that it does not intend to lift a finger in blocking the looming takeover bid of Newcrest Mining Ltd (ASX: NCM) for Lihir Gold Ltd (ASX: LGL), calling the deal as an almost done arrangement.