Wesfarmers Mulling Spinoff of Cole Group Unit
Wesfarmers Ltd. (WES), Australia's second biggest retailer, is mulling to spinoff the 25 shopping centres it owns under its Coles Group unit for $700 million.
Global Nuclear Supply At Risk – Paladin
The world could be facing a supply shortage of the element uranium, the power source of nuclear reactors in most developed countries, as alternative non-nuclear materials remain elusive.
Rio Tinto Q3 Iron Ore Output Up, Maintains 2012 Guidance
Despite a volatile global market, Rio Tinto still managed to jack up its iron ore production by as much as five per cent in the September quarter to 62.9 million tonnes compared from 2011, beating analysts' and industry expectations.
Hewlett-Packard Slapped with Lawsuit in Australian Courts
Computer giant Hewlett-Packard (HP) has been slapped with a lawsuit in the Australian federal courts for allegedly misleading customers with deceptive conduct relating to warranties and consumer rights.
Australia May Be Rich in Resources But Its Citizens Are Getting Hungry
A stark study in contrast? Or a bittersweet reality? Australia may be rich in natural resources and its exports of this bounty may have propelled the nation to become one of the global economic leaders,but this abundance unfortunately still can't muster enough plenty to feed its poor citizens.
China Wants Coal Production Curbed
China, one of the world's biggest carbon emitters, wants to curb its yearly coal production growth on the existing global weak demand for the commodity as well as dwindling market prices.
Analysts Wary Iron Ore Price Rebound Will Last
Chinese steel mills may have snapped iron ore stocks last week, eventually rendering prices of the key steel making ingredient to rise, but this may not mean the momentum will last longer as analysts remained wary the trend could only be seasonal.
Australia’s Pension Among the World’s Highest and Best Managed
Despite it being constantly tinkered by the Australian federal government, the country's retirement savings and income system has been ranked by the 2012 Mercer Global Pension Index as one of the world's highest and best managed.
Australian Ski Industry to Banish Due to Global Climate Change?
Skiing aficionados who often go to Australia to experience the resource-rich nation's ski resorts and alpine regions may be forced to scout other locations in the coming years as the worsening global climate change could kill the Australian ski industry by year 2020.
Western Australia Posts the Most Dangerous, High-Risk Sexual Offenders Online
The state government of West Australia on Monday has launched the Community Protection Website, a portal which contains a list of names as well as photographs of the most dangerous and high-risk sexual offenders living within and nearby WA.
Australia’s Recipients of First 100 Women of Influence Awards Named
What do Business Council of Australia chief executive Jennifer Westacott, Origin Energy chief operating officer Karen Moses, Kraft Foods chief Rebecca Dee-Bradbury, philanthropists Layne Beachley, Carol Schwartz and Debbie Dadon, and Reconciliation Australia chief executive Leah Armstrong have in common? These strong-willed and leadership-capable women have been included in the first ever conducted 100 Women of Influence awards by the Australian Financial Review newspaper and Westpac Bank.
Australia Marks 100th Year of Tasmanian Mine Tragedy
One hundred years ago this day, Tasmania encountered its worst mining disaster when 42 miners died underground in the Mt Lyell mining tragedy. Today, the town stood still to commemorate the centenary of the ill-fated event.
Billabong Shares Dives In After Lone Bidder TPG Calls Off Takeover Bid
Shares of debt ridden Australian retailer Billabong International, already floating in oblivion, sank deeper on Friday after its lone bidder TPG International LLC decided with finality to call off its takeover bid of the surfwear maker.
Owing to Faulty Power Window Switch, Toyota Undertakes Massive Global Recall of Vehicles
Japan's Toyota Motor Corp is set to undertake a massive global recall of vehicles due to faulty power window switch found in its units.
Lynas License to Operate Malaysian Plant Put on Hold… Again
For the nth time, Lynas Corp.'s plans to operate what could rival China's rare earths industry has been hindered as a Malaysian High Court on Wednesday failed to come up with a final decision on the Australian miner's controversial temporary operating license (TOL), effectively delaying again the miner's start of operations of its rare earths processing plant.
Toro Uranium Mine Project Receives Environmental Clearance from WA State Government
Toro Energy Limited and its highly-contested Wiluna uranium mine project in the Mid-West region has received an environmental clearance from the Western Australia state government.
Rinehart, India’s GVK Secures Environmental Approval to Build Coal Terminal in Australia’s Queensland State
The highly controversial $6.4-billion coal mine project between India's GVK Power & Infrastructure, and Hancock Coal owned by Gina Rinehart, the world's richest woman, in Queensland state has been given environmental approval by the federal government of Australia.
Tourism Australia, Emirates To Spend A$14.3M Over New Joint Marketing Scheme
Tourism Australia and Dubai-based Emirates will be spending an estimated A$14.3 million over the next three years that will further improve inbound visitation from Europe and New Zealand.
China’s Stockpiles of Iron Ore Up – Report
Despite last month's government pronouncement that it would embark on a massive infrastructure plan to spur up economic stability and growth, Chinese consumers of iron ore still have to actually bite into the good news as stockpiles of the key steelmaking ingredient jumped week on week in at least 25 major Chinese ports.
Developing Australia’s CSG Projects in Queensland Will Go to Highest Bidder
Developing Australia's coal seam gas (CSG) reserves and projects will now go to the highest bidder, Natural Resources and Mines Minister Andrew Cripps said on Tuesday before the 2012 Australian Petroleum Production and Exploration Association (APPEA) Coal Seam Gas Conference in Brisbane.
BHP Slashes Jobs at Iron Ore Unit
And the inevitable has happened. Global mining giant BHP Billiton Ltd. will leave no stone unturned to maintain business stability and viability, as it announced job cuts will be made even at the expense of its top revenue business driver, the iron ore division.
This Time, China Helps Boost Australia’s Tourism
China's appetite for mining-related investments in Australia may be dwindling, but its appetite for Australian scenic spots has helped the resource-rich nation post a record number of tourist arrivals in August.
Despite Lowered Growth Forecast, Australia is Now 12th Largest Economy in the World – IMF
Despite its growth forecast being lowered for year 2013, Australia, nonetheless, has zoomed to become the world's 12th largest economy, according to the latest World Economic Outlook (WEO) released on Tuesday by the International Monetary Fund (IMF).
Australian Copper Producer With Mines in Botswana Eyed by China
Australian copper producer Discovery Metals Ltd., which has mines in Botswana, is being eyed for acquisition by Chinese private equity firm Cathay Fortune Corp. for A$830 million ($848 million).
Costs of Aquila’s Resources Pilbara Project Blows Out of Budget, Shares Down
Confidence of Aquila Resources investors' plummeted on Monday after the mining company announced it has incurred a $1.4 billion cost blowout for its West Pilbara Iron Ore Project.
Job Placements in Australia Down Yet Again in September – Survey
Monthly job placements in resource-rich Australia continued to slide down in September, slowing for the sixth consecutive month this year, the latest ANZ Banking Group Ltd's job advertisements survey released on Monday said.
Australia’s Elders Launch Online Business Portal to Accommodate Farmers’ Needs
Even Australia's farmers no longer need to physically conduct their business just to source their farming requirements.
Australia’s Queensland Govt Divests Stakes in QR National
Australia's state government of Queensland on Monday announced it will divest its remaining stakes in coal-freight company QR National Ltd. for $1.5 billion in a bid to pool funds that could be used to pay down the state's bloating debt.
Chinese Huawei Mulling IPO – Report
Chinese telecom equipment maker Huawei Technologies Co Ltd wants to conduct an initial public offering (IPO) to establish its credibility as it targets large contracts in major international markets.
Billabong Shares Down; Takeover Bidder TPG Raises Concerns
Billabong shares have sank, bordering at the $1 mark, which is way below TPG's indicative offer of $1.45 a share, after the troubled Australian surfwear retailer admitted that TPG is having some concerns and reservations about the takeover issue.