Erik Pineda

Property group Stockland Corporation Ltd (ASX: SGP) announced on Monday that it would pursue its takeover negotiations with Aevum Ltd (ASX: AVE) despite the latter’s rejection of a $266 million cash bid for the blanket acquisition of the retirement group’s shares at 38 percent premium of the stock’s closing price on Friday.

A teachers’ group in New South Wales is expressing alarm that the state government is set to use school maintenance funds in replacing unflued gas heaters as two school principals received advisory that delays on scheduled maintenance works should be expected while the government is scrambling for replacement money.

Chevron Corporation said on Friday that its second quarter earnings saw three-fold increases as the company pointed to improved refining margins and solid market prices for both oil and natural gas as major contributors to the impressive performances.

Walt Disney Company announced on Friday that it is all set to turnover its Miramax Films division to Filmyard Holdings consortium for a total amount of $US660 million or $A732.56 million, adding that the deal should be finalised by the latter part of 2010 once regulatory approval has been granted.

Retail giant Coles said on Saturday that the Coalition’s proposed 1.7 percent company tax on Australia’s largest companies is more likely to carry soft impact on consumer goods prices even as company managing director Ian McLeod stressed that he was more concern on rising utility bills than the planned levy.

The Australian Beef Association chided the New South Wales government on its apparent soft stand in labelling disputes with the country’s supermarkets as it urged the state to implement much stricter regulations in its beef labelling management.

The Australian Tax Office said on Friday that the global financial crisis was one of the major reasons that tax avoidance have spiked up in the country as it noted that glaring numbers of small businesses operating in rural regions were particularly hurt by the economic decline.

Ginger and macadamia grower Buderim Ginger Ltd (ASX: BUG) said on Friday that its trading results for the first half of the current year would be a notch higher from earnings registered on the previous corresponding period last year.

New Zealand’s TrustPower Ltd chair Bruce Harker made calls on Friday for the partial privatisation of the country’s government-owned power companies as he underscored that under the plan, companies operating in the industry would be subjected to constant pressure of prudently utilising capital and maintaining minimal operational costs.

Diverse-business operations firm Programmed Maintenance Services Ltd announced on Friday that projected earnings for fiscal 2010 would reach $58.9 million while net profit is expected to gain by ten percent in 2011 from figures posted in the previous year.

Grain retailers GrainCorp Ltd (ASX: GNC) and AWB Ltd (ASX: AWB) issued a joint statement on Friday announcing that the two companies are poised to merge their operations and end up as one of Australia’s biggest agribusiness operators.

The Australian Tax Office (ATO) said on Thursday that it is set to launch a data matching program that will aid the agency in tracking online retailers who have breached the $20,000 mark in selling good and services within the past three financial years.

Victoria issued a total of 113,670 building permits in the past financial year reaching a total worth of $23.9 billion and according to the latest figures published by the Building Commission on Thursday, loan grants for the state’s first home buyers spiked up by 30 percent to $13.1 billion in 2009/10.

Uranium producer Energy Resources of Australia Ltd (ERA) (ASX: ERA) said on Friday that its first half profit suffered declines as the company saw sliding production, spiralling maintenance costs and a better performing Australian dollar all conspiring in pulling down its revenues.

Internet service provider iiNet is set to acquire a division of AAPT from Telecom Corporation of New Zealand Ltd and according to a report by The Australian on Friday, about $60 million would change hands, with Telecom NZ also gearing to sell down 17.4 percent of its iiNet holdings to institutional investors.

Junior coal miner Aston Resources Ltd has been reportedly identified by mining giants Xstrata and Peabody Energy Corporation for a possible buyout deal as sources privy to the company’s moves revealed that an initial public offering would be announced next week to raise an estimated $400 million.

Victoria’s Ombudsman said on Thursday that the cheating it has uncovered on RMIT University’s Aerospace program could lead to a possible compromise on public safety as questions were raised on the institution’s quality of graduates.

Gas and electricity firm Arrow Energy Ltd (ASX: AOE) said on Thursday that its annual gross sales in financial year 2010 indicated strong performance in the June quarter as gas and electricity sales more than doubled from the prior year.

Many Australians are bracing for a property slowdown over the next 12 months following the accelerated price expansion seen last year as the latest survey by the National Australia Bank (NAB) showed that the annual property price growth plunged from the 5.2 percent posted in March to a mere 1.4 percent in the June quarter.

Synthetic gas producer Carbon Energy Ltd (ASX: CNX) said on Thursday that the emerging underground coal gasification (UCG) technology should not be dismissed outright in the wake of a failed UCG project in Queensland ordered shut down by the state government this month amidst cases of water contamination on the Kingaroy site.

A transport group said on Thursday that enabling trucking companies to implement the dual-run system would lead to better profits, slashed costs and less travel time for the freight industry as the Australian Competition and Consumer Commission (ACCC) instructed DP World Australia and Patrick to set up a blue print on the trucking scheme.

Regional Express Holdings Ltd (REX) (ASX: REX) announced on Thursday that it is set to reduce its seat capacity by 18 percent for the Port Lincoln-Adelaide service route in South Australia, blaming stiffer competition from QantasLink which earlier resumed its flight services on the region.

Property specialist Centro Properties Group (CNP) (ASX: CNP) said on Thursday that its financial arrangements covering a total of $US2.7 billion or $A3.03 billion of debt in the company’s US operations have been completed amidst the business’ continued restructuring.

Qantas Airways Ltd (ASX: QAN) said on Wednesday that it is looking into establishing possible service routes to Europe by going through China, that is if and when Euro authorities give their seal of approval on the proposal.

The federal government faces the spectre of eventually collecting less revenue from commodities should coal prices plunge to the same levels seen from some few years ago but on the upside, some companies would end up as beneficiaries of a one percent cut in company tax should the proposed mineral resources rent tax is implemented.

Steel specialist BlueScope Steel Ltd (ASX: BSL) and Nippon Steel Corporation of Japan have agreed to undertake a long-term joint technical partnership in developing next-generation coated steel products as the Japanese company announced on Wednesday via its official online site that products to be manufactured by both firms are aimed for the global building and construction market.

The National Seniors Australia said on Wednesday that their group gained assurance from Treasurer Wayne Swan that the Labour government would fully support payment increase for the country’s pensioners.

Engineering firm Downer EDI Ltd (ASX: DOW) announced on Wednesday that it has sealed contract agreements amounting to about $2 billion with the BHP Billiton-Mitsubishi Alliance, which cover work projects at Goonyella Riverside and Norwich Park mines, both located at the Bower Basin in central Queensland.

Retail giant Coles announced on Tuesday that it would start selling car insurance, which the company described as a product carrying flexible coverage with a lifetime guarantee on auto repairs by authorised motor vehicle repair outlets.