BUSINESS

Iron ore prices continued to increase higher on Thursday. As noted by the Metal Bulletin, the spot price for benchmark 62 percent fines climbed 1.85 percent to settle at US$92.61(AU$120.68) a tonne. With this, the overall increase over the last two sessions has been extended to 5.1 percent.

A Project Facilitation Agreement, as part of a mining resource project worth $850 million, has been signed between the Northern Territory and Australian resource company TNG. Called the Mount Peake Vanadium-Titanium-Iron Project, it will include a metals processing facility that will be constructed in Alice Springs, Northern Territory.

Amid reports that sales of her brand have surged last month, Ivanka Trump’s fine jewellery line is shut down to focus on more accessible price points.

Iron ore spot markets saw an impressive run on Thursday, climbing highest in more than a month. With this, the benchmark price is over US$90 (AU$117.05) a tonne, helped largely by an escalation in Chinese futures.

Topshop Australia has announced that it would be launching its e-commerce platform in April offering expanded product collections.

Woolworths has expanded its private label by joining the European Marketing Distribution alliance.

Iron ore spot markets began slowly on Tuesday but Chinese futures continued to climb higher in overnight trade. It is not certain whether the trend witnessed concerning iron ore spot markets will persist on Wednesday.

Comcare has revealed weird compensation requests by Australian public servants including lawn mowing, longer coffee breaks and breast reductions.

Coal and gold sectors could witness a rise in mergers and acquisitions this year, according to a research by Herbert Smith Freehills. The professional services firm said factors including, but not limited to, commodity prices, lower production costs and Australian dollar will be crucial in raising the levels of M&A for 2017.

Iron ore prices are forecast to fall back to US$50 (AU$66.14) a tonne by the end of this year, as found by research firm Capital Economics. The steel making ingredient shrunk to its lowest in a decade, US$38 (AU$50.26) a tonne, at the start of last year.

It was known that Tesla was building Model 3 prototypes, made clear by a shareholder’s letter in February. Now, a brand new video showcasing a Tesla Model 3 prototype has surfaced. The footage was reportedly taken at the SpaceX office in Hawthorne, California.

The Commonwealth Bank of Australia (CBA) has financed $230 million solar farm project at Whitsunday, Hamilton and Gannawarra solar farms.

NAB Future Planners Scholarship was launched on Monday at four Australian universities, namely Deakin Business School, Griffith University, Western Sydney University and RMIT University.

Muffin Break and Jamaica Blue has partnered with the Fair Work Ombudsman (FWO) to make a public commitment to ensure workplace compliance.

Iron ore spot markets sustained another downslide on Friday. With this, they have now slumped for the fifth time in six sessions.

Qantas has announced that it would open its new Domestic Business Lounge and Premium Lounge Entry on March 14 at the Brisbane Airport.

David Jones has unveiled its redesigned two-level store in Macarthur Square Shopping Centre in Sydney.

BHP Billiton CFO Peter Beaven is pushing for a cut in company tax, which he said will lead to an increase in investment, employment and tax revenue. Beaven’s comments came during the Australian Financial Review’s Business Summit, held in Sydney on Thursday.

Iron ore spot markets experienced another plunge on Thursday. The latest development took the spot market to new one-month lows.

Sephora has announced that it would open another Australian store at Westfield Chermside in April.

Air New Zealand and Qantas has launched an industry group that would tackle public policy issues affecting Australian and New Zealand travellers.

The European Central Bank is expected to maintain dovish on its interest rate, but also maintain lower inflation target despite meeting the inflation target in February.

BHP Billiton said it will be investing further in the oil market sector as prices experience a stable recovery. The mining giant believes oil demand will grow and come at par with supply this year.

Gold futures declined on Wednesday, marking a slump for the seventh consecutive session. With this, the metal finished at its lowest recording since the start of February.

The price of iron ore is threatening to dip below US$85 (AU$112.8) a tonne. The export slipped 2.6 percent to settle at US$85.3 (AU$113.2) overnight, according to the Steel Index.

Westpac chief Brian Hartzer was the last executive to face the second round of questioning of the parliamentary on Wednesday.

Korn Ferry International announced on Monday that it has earned $381.9 million (AU$503M) for its third quarter fiscal year 2017 revenue fee.

Australian shares experienced a downslide on Wednesday. While prices of copper and iron ore showed a regressive growth, gold prices remained steady.

The Australian dollar has witnessed a significant downslide against its US counterpart. The development comes amid a forecast in the increase of US interest rates supporting the US currency.