Sharon Olalia

Brand-new car sales struck a record monthly high in June, with private buyers returning to the market.

The Australian dollar opened weaker early today as shareholders wait for the interest rate decision of the Reserve Bank of Australia during the domestic session.

The Gillard Government has been untrue in its account of the effect of the revamped resources tax on forward revenue, the Coalition says.

Senator Bob Brown on ABC television last night pledged to put the revised tax through a ''very close Senate scrutiny'' with a purpose of studying the repercussions on small business.

Heemskirk Consolidated has defeated Conquest Mining with an $84 million scrip bid for North Queensland Metals.

Germany's Bilfinger Berger has suspended the initial public offering of its Australian business recently named Valemus, citing a weak market.

National Australia Bank and Leighton Holdings are suing the US distributor Warner Bros for $95m in a dispute over the rights to The Matrix.

The Australian bourse is expected to start flat this morning after taking mostly flat to negative leads from major Asian and European markets yesterday as Wall Street stayed closed for the US July 4 Holiday.

The Cooper superannuation review has held a highly interventionist method to regulation after enumerating extensive cases of market failure in Australia's $1.3 trillion superannuation industry.

Multibillion-dollar offers from China, Singapore and Thailand for CSR's Sucrogen and Centennial Coal reflects a rise in Asian interest for a broad range of Australian assets.

The pension industry should offer a new standardised fund with lower charges to help employees save an additional $40,000 (US$33,700) for their retirement, according to a government-commissioned review overseen by Jeremy Cooper, former deputy chairman of Australia's markets regulator.

A court in South Africa has dismissed a case filed against Paris Hilton for allegedly using illegal drugs.

Paramount Pictures is releasing Grease in a sing-a-long format for a limited two-week engagement this July.

Lady Gaga has proven to be the most famous living person in Facebook, surpassing US President Barack Obama and Britney Spears.

Black Eyed Peas are collaborating with Avatar director James Cameron for a 3D tour movie.

Crude oil futures plunged for a fifth consecutive session today, recording the steepest weekly decline since early May.

Macquarie Telecom Group claims its preliminary full year results have come in above guidance.

Shares in Centennial Coal have opened 34 per cent stronger after the company agreed to a $2.5 billion acquisition offer from Thailand's Banpu Public Co Ltd.

The rate of inflation soared for the eighth straight month in June, along with the prices of food, travel and insurance services while Australia moves closer to total employment.

CSR shares rose 3.2 per cent this morning after the Australian conglomerate disclosed it had cut a deal to sell Sucrogen to Wilmar International for $1.75 billion, outdoing China's Bright Food Group offer of $1.65bn.

Reports are calling the government's effort in assisting Australia's banks during the height of the world financial crunch an after-dinner mint after discovering that Macquarie Group chief executive Nicholas Moore held a private dinner for then financial services minister, Senator Nick Sherry days before the help came in.

The Australian share market is expected to open lower today after weak employment growth in the US cause fears about the strength of the world's largest economy.

The Gillard government's mining tax deal will not likely lead to an increase in debt issuance, according to analysts.

Hollywood star Meryl Streep is in talks to portray former Prime Minister Margaret Thatcher in a biopic that could reunite the Oscar-winning actress and Mamma Mia! director Phyllida Lloyd.

Talks over the Gillard government's watered down mine tax announced on Friday carry on as junior iron ore companies propose further concessions in a meeting with Resources Minister Martin Ferguson in Perth today.

Lindsay Lohan's misadventures had cost her job again, and the 23-year-old tabloid favorite was not taking the news well.

Rock star Sting and his wife Trudie Styler last night delivered a 19th century performance for charity at Jazz at Lincoln Center.

"The Twilight Saga: Eclipse" has set a new record for a movie debuting on Wednesday after pulling in $68.5 million in its first day. The third instalment in the vampire romance franchise outperformed the Wednesday high of $62 million set last year by "Transformers: Revenge of the Fallen."

Legendary guitarist Carlos Santana is currently collaborating with actor Benjamin Bratt, and brother Peter Bratt, to put together a biopic, sources disclosed this week.