Sharon Olalia

Insurance Australia Group Ltd (ASX:IAG) has been sunken with claims arising from the devastating Queensland floods, but says it is too early to estimate the likely claim costs.

Microsoft Australia has appointed Michael Gration as director of public sector group in Australia. Gration takes responsibility for sales and marketing of all levels of government accounts which includes defence, education and health.

National Australia Bank (ASX: NAB) says it would increase its donation to the Premier's Disaster Relief Appeal to $350,000 and will now provide $650,000 to affected local communities.

Leighton Holdings Ltd (ASX: LEI) says that a number of the group's Queensland construction and contract mining operations may be affected due to extreme weather events.

Wesfarmers Ltd (ASX:WES) says it has secured an increase to its metallurgical coal prices for the first three months to 31 March 2011.

Rising waters in Queensland's capital city, Brisbane, have caused Australian conglomerate Wesfarmers (ASX: WES) to close some of its Coles supermarkets.

The Queensland floods, which on January 5 caused a steam outage at the Lytton Refinery, prompting an unscheduled shutdown, is expected to cost Caltex Australia (ASX: CTX) $5 - $10 million (after tax) in 2011. The company is continuing to assess the impacts of the severe weather conditions.

Australia's major airlines are set to experience a significant slump in passenger numbers because of the Queensland floods, The Australian Financial Review says.

Westpac has dismissed a report that it is looking to replace chief executive Gail Kelly.

National carrier Qantas (ASX: QAN) today announced it would resume A380 services between Australia and Los Angeles, commencing with QF93 from Melbourne to Los Angeles on 16 January.

Optus, Australia's second-largest telecommunications carrier, says the there has been limited impact to the Optus mobile network in the flood affected areas of Queensland as of 4pm today.

Severe flooding due to the Brisbane River breaking its banks has led the Regis Group to evacuate and temporarily close its New Farm Regis Corinya aged care home.

The total number of jobs advertised in major metropolitan newspapers and on the internet rose for the eighth consecutive month, the ANZ Job Advertisements Series shows.

Australia's trade surplus has decreased slightly to a seasonally adjusted A$1.925 billion in November from a revised surplus of A$2.561 billion in October, the Australian Bureau of Statistics said Thursday.

Australian executives are positive on the economic outlook for 2011, despite weakness in consumer spending, according to a business expectations survey by Dunn & Bradstreet.

General Motors Co.'s Opel unit says it plans to start exporting cars to Australia in 2012.

Qantas (ASX: QAN) unit Jetstar has been named the first ever official airline partner of the Women's Tennis Association (WTA) and its tournaments across the Asia Pacific region until 2013.

Retailers will be pleased to see an increase in retail figures in November, but this will not be enough to save the year, according to the Australian National Retailers Association (ANRA).

Transfield Services (ASX: TSE), an Australian provider of operations, maintenance, asset management and project management services, says its earnings have not been materially impacted by the Queensland floods.

Customers of Wesfarmer’s (ASX: WES) Coles supermarkets have donated over $1 million to help the victims of the Queensland flood disaster.

The Australian Capital Territory imposes the second heaviest tax burden on business in Australia according to a new report Business Bearing the Burden 2010 released today by free market think tank the Institute of Public Affairs (IPA).

Arc Exploration (ASX: ARX) had recommenced on its highly prospective West Papua project held under a strategic alliance with global mining player Anglo American.

Australians' demand for fixed rate home loans has not been this high since May 2008, according to loan approval figures from the country's largest independently-owned mortgage broker.

Activity in Australia's construction industry remained relatively subdued in December last year, according to the the latest Australian Industry Group Australian Performance of Construction Index (PCI).

Virgin Blue Group (ASX: VBA) and Skywest airlines have inked a 10 year strategic alliance to service regional Australia with Skywest operating up to 18 new Virgin Blue branded turbo prop aircraft to a number of existing and new destinations around Australia.

The company announced it will return $800 million via a fully franked special dividend of just under $140 million, nd a proposed capital return of $661 million, subject to shareholder approval.

Government funded National Broadband Network operator NBN Co today reminded Australia's development industry of new arrangements to provide fibre broadband infrastructure in new estates.

Equinox Minerals Ltd (TSX and ASX: EQN) has initiated compulsory acquisition procedures under the Australian Corporations Act to acquire all remaining shares in Citadel Resource Group Ltd. The company has a relevant interest of 90.59 per cent in Citadel.

The Insurance Council of Australia (ICA) has re-affirmed the commitment and focus of the general insurance industry in assisting policyholders affected by the Queensland floods.