Sharon Olalia

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Telstra, NBN Co seals the deal by next week

The famed deal between Telstra Corporation Ltd and the National Broadband Network (NBN), which amounts to $9 billion, is expected to be signed as early as next week with the cabinet to see documents by late second quarter or early third quarter of this year.

Moody’s slashes credit rating of top four banks

Moody’s Investors Service, in the latest indication of increasing scrutiny of international banks, has slashed its credit rating for Australia’s big four banks, that are among the world’s most creditworthy.

Interest rate growths to happen as Liberals toy with budget

The Reserve Bank has confirmed anticipations of interest rate growths. According to the government, the policy positions held by the opposition has added to the rate pressures as it would wipe almost $7 billion off the budget bottom line.

Xstrata to phase out copper smelting

Global miner Xstrata Mount Isa Mines says it plans to phase out copper smelting at Mount Isa and refining operations in Townsville by the end of 2016 in a bid to sustain the future of its Mount Isa operations through expanded mining and concentrate production.

Malaysia deal affects Gilliard’s poll ratings

A recent poll indicated that Prime Minister Julia Gillard’s ratings experienced decline as the federal government’s deal for asylum-seekers exchanges with Malaysia has taken its toll on Julia Gillard.

Leighton reports Q3 loss but expects solid 2011/12 results

Leighton Holdings Ltd (ASX: LEI) today announced a loss after tax of $382m for the nine months to 31 March 2011 from total revenue of $13.8bn. The company said it expects to report a loss after tax of $427 million for the 2010/11 financial year.

ACCI declares large wage upsurges would hurt small industries

Another huge wage increase is expected to destabilize the struggling sector of small businesses in the face of federal budget warnings of a patchwork economy. This shall be the argument of the Australian Chamber of Commerce and Industry or ACCI in the succeeding national wage trials this week.

BHP meets Olympic Dam concerns

Resource giant BHP Billiton (ASX: BHP) says it has met all concerns raised over its planned expansion of the Olympic Dam uranium and copper mine.

Population strategy evicts housing policy

The Federal Government’s population strategy released today reveals housing policy has become the latest Government evictee, according to the Residential Development Council.

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