Sharon Olalia

British heartthrob Actor Andrew Garfield is officially the new Spider-Man in Sony Picture's upcoming reboot of the billion-dollar franchise. The 26-year old relative newcomer has been chosen to portray Peter Parker after a comprehensive worldwide casting search.

Big miner Xstrata will resume a key project that it postponed after former Prime Minister Kevin Rudd proposed the troublesome resources super-profits tax.

Household goods retailer Harvey Norman will acquire most of the branches of its falling competitor Clive Peeters for $55 million. Clive Peeters receiver and manager Phil Carter announced this morning that details are still being finalised, with the number and location of the stores to be disclosed next week.

The Australian Securities and Investments Commission had admonished consumer credit providers it will be scrutinising their history carefully before it grants them a licence to operate.

Following the news of a revamped mining tax, a lobby for smaller mining companies argued that the federal government's decision was shaped out with the big three miners at the expense of others.

Global miners were encouraged by Gillard's announcement of a revamped resource super-profits tax, which has previously infuriated the industry in its original state.

The Australian currency opened higher this morning as data signalling a slack off in the US economic recovery undermined the American dollar.

Prime Minister Julia Gillard announced today in a press conference in Canberra the revisions involving the resource super-profits tax.

The Queensland government is seeking a new contract with Chinese aluminium producer Chalco, but may exclude a bauxite mine, which was part of the original deal.

Metal producers welcomed the possibility that they may be exempted from the Gillard government's modified resource super-profits tax, arguing that they deserved to be treated differently to bulk commodities coal and iron ore.

Australian Prime Minister Julia Gillard will hold a news conference in Canberra early Friday to announce a deal between the government and big miners has been struck, ending a dispute that removed her predecessor from office.

North Queensland Metals Ltd (NQM) says its belief that Conquest Mining Ltd's recent acquisition offer was insufficient has been validated by new mining producing heavy gold results.

An enormous Papua New Guinea gas project can potentially put the impoverished nation on the path to economic sustainability, according to Australian Trade Minister Stephen Smith.

Greens leader Bob Brown warned today that any agreement on the RSPT reached behind closed doors could be amended in the Senate.

The Gillard government and Australia's big three mining companies are now on the brink of an agreement that would end one of the biggest government-private sector debates in history.

The Gillard government has cautioned it may have to forego company tax cuts and higher superannuation contributions to counterbalance any loss of revenue from a potential agreement with the mining sector over the troublesome RSPT.

Retail trade climbed by a moderate 0.2 per cent in May to $20.16 billion, coinciding with the last of six interest rate increases by the Reserve Bank of Australia since October, according to Australian Bureau of Statistics data released today.

Grocery and liquor wholesaler Metcash is acquiring Franklins supermarket chain for $215 million, increasing 85 branches in New South Wales.

Manufacturing activity moved up at a slower pace in June due to lesser production movement, new orders, employment and supplier deliveries, according to a survey.

Fortescue Metals is planning to appeal a ruling by the Australian Competition Tribunal not to force BHP Billiton and Rio Tinto to share their two main railroads to Port Hedland - Mount Newman and Hamersley to other miners.

Leighton Holdings has cut deals in India worth $US550 million ($653.5 million). The construction and contract mining group disclosed it had been awarded two infrastructure projects: the Chenani-Nashri road tunnel in Jammu, northern India and the Vizag Port expansion.

After previous denying, Commerce Minister Paul Lynch today confirmed reports that five participants had made it to the shortlist of potential suppliers for the data centre consolidation initiative of the NSW government. These are Global Switch, Macquarie Capital, Gresham, Leighton Contractors and the Plenary Group Unit Trust.

Australia's first female Prime Minister, Julia Gillard has won the support of investors, but with a caution that any postponement to a compromise agreement with miners over the RSPT would stoke an investor revolt.

Job vacancy data from the Bureau of Statistics survey released yesterday indicate the mining industry was attempting to employ a record 6200 workers in May.

The Australian Competition Tribunal on Wednesday ordered BHP Billiton and Rio Tinto, the second- and third-largest iron ore exporters, to share their multibillion-dollar infrastructure in the Pilbara to others.

While the Australian share market remained in the red territory by early afternoon, it was off its lows as several investors tentatively sought bargains.

Credit demand from businesses and home buyers increased slightly in May to its fastest annual pace since August 2009 even with the consistent climb in loan rates.

Perth-based Macmahon Holdings announced today that as an alliance consortium member, it has been awarded a $50 million share of a $112 million rail contract extension by the New South Wales Government.

While the Australian share market recovered slightly by noon, it was still distinctly lower, with massive losses in various sectors.