Sharon Olalia

Shanghai-based Bright Food is on its way to signing a contract with Australian conglomerate CSR over the sale of the latter's Sucrogen. Reports suggested a settlement could be reached as soon as today.

The US Supreme Court has ruled in favour of National Australia Bank, stating that foreign investors cannot proceed with a US lawsuit against NAB.

Riversdale Mining has entered a $1 billion-plus contract with a Chinese state-owned steel maker to set up a second coking coal mine in Mozambique, in hopes to become the world's biggest producer.

British-based BG Group has won the Queensland government environmental approvals for a liquid natural gas plant at Gladstone.

Bendigo and Adelaide Bank arrears are running lower despite the recent interest rate increases.

Alcatel-Lucent has been granted a profitable contract to provide critical fibre optic equipment for the $43 billion national broadband network.

Mining stocks improved amid hopes that new Prime Minister Julia Gillard will have a more favourable tax regime than the proposed resource super-profits tax.

Leading gas producer Santos welcomed comments by Julia Gillard about RSPT negotiations, while Queensland mining billionaire Clive Palmer called on the new prime minister to formally abandon the controversial proposal.

Telstra chief information officer John McInerney has stepped down effective immediately, as the company plans to merge two IT divisions.

The Minerals Council of Australia is pulling out advertisements against government plans for a new levy on mining after new Prime Minister Julia Gillard pledged to open the door to the industry for consultation.

Australian industrial activity has grown quickly this quarter, with output and demand increasing and already strong employment levels set to progress further, a survey showed today.

New Prime Minister Julia Gillard has promised to cancel the government's $38 million counter-campaign against the mining sector's anti-tax ads in return for co-operation in negotiations from the industry.

Canberra failed in convincing Fortescue Metals chief executive Andrew Forrest to back the new mining tax by suggesting changes in the capital treatment.

Trying to establish its presence in the direct sales and financial advice markets, Suncorp-Metway aims to more than double its new life insurance business in the coming three years.

Australia's largest brewer Foster's Group Ltd could save up to $150 million (US$130 million) by putting its Abbotsford plant in Melbourne on sale, Merrill Lynch analysts said.

Ciena is using its acquisition of Nortel's Metro Ethernet division to set up shops in Australia and New Zealand.

Graphics-software company Adobe Systems recorded an 18 per cent leap in second-quarter profit, gaining from strong sales of its flagship Creative Suite 5.

Melbourne-based broker Sonray Capital Markets has entered voluntary administration, freezing accounts of 3,000 clients, its administrator Ferrier Hodgson announced Wednesday.

Internet giant Google has lost its mantle as Australia's best employer to NetApp, an IT company specialising in storage services that ranked second last year.

BP has tried to alleviate worries it is running out of cash, insisting it had enough resources to deal with the Gulf of Mexico crisis.

High profile banker Andrew Low resigned today, hitting Macquarie with a major blow.

Shares in Pharmaxis declined by almost 50 per cent today after investors took a gloomy view on trial results of its Bronchitol drug.

Oil and gas producer Woodside Petroleum warns of possible slow up and cost increases amid recurring labor disputes at Pluto project.

Ken Talbot never intended to bribe former Queensland government minister Gordon Nuttall, and regretted giving a total of $300,000, according to the mining magnate's legal counsel.

Queensland Rail did not achieve its coal-hauling obligations to the Dalrymple Bay Coal Terminal at Mackay, Rio Tinto Coal Australia claims, as the industry continues to battle the planned $3 billion float of QR's freight operations.

An alliance composed of APA Group, Japan's Marubeni and Origin Energy emerged as a key candidate for the Alinta Energy bid.

CEO David Deverall has filed for resignation, Perpetual announced today. He will, however, remain with the company until his successor comes or March 31, 2011, whichever comes first.

Photon is convincing 50 firms composing the marketing services group to accept profitable earn-out payments in stock, instead of cash.

Former Sundance Resources chairman George Jones will begin building a new junior's board after the mining company's executive team was killed in a plane crash in Western Africa.