BUSINESS

Qantas yesterday joined the gathering rush of corporate restructuring in Australian business.

Major Australian bank Westpac Tuesday reported $1.55 billion in cash earnings for April, May and June, down about 2 percent on the average for the first two quarters. Reported net profit after tax for the same period was approximately $1.45 billion.

MARKET CLOSE (4.30pm AEST)The Australian sharemarket pulled back in the second half of trade to wipe out a portion of yesterday's stellar gains. The ASX 200 index (XJO) fell 0.8 pct or 35.6 pts to 4247.3 while the broader All Ordinaries index (XAO) dropped 0.7 pct or 29.5 pts to 4317.3.

Qantas chief executive Alan Joyce’s new strategy will benefit Australia’s tourism sector, Tourism Australia says.

Google acquiring Motorola Mobility, the maker of Droid smartphones and Xoom tablets for $12.5 billion has shocked the tech industry but what does it mean for the end user? Will the Google and Motorola merger even affect the ordinary user on the street?

Qantas Airways has confirmed plans to set up a low-cost operation in Japan as it aims to increase its presence in Asia, the fastest-growing aviation market in the world.

Australia’s flagship airline Qantas has announced wholesale changes that will see the loss of 1000 jobs as it cuts international routes, retires four Boeing 747s and delays the delivery of six Airbus A380 superjumbos by up to six years.

Sources inside Apple's supply chain partners say the company has canceled plans for an iPad 3 launch later this year because of production constraints on the Retina Display, DigiTimes reports.

After announcing an expansion into Asia, Qantas Airways will be facing a government investigation over job losses at home.

By Greg PeelIt is fairly clear from the RBA's August monetary policy statement that the board approached the meeting with the intention of raising Australia's cash rate in a pre-emptive attack on inflation expectations, as it has been flagging for some months.

By Richard (Rick) MillsAs a general rule, the most successful man in life is the man who has the best informationThe public debt is the money borrowed by the US federal government.

The AUD has found strength once again, as local and offshore equity markets continue their recovery after the recent rollercoaster ride.

The US Empire State manufacturing index fell from minus 3.76 to minus 7.72 in August. The National Association of Home Builders index was stable at +15 in August.

U.S. stocks advanced Monday, wiping out last week's losses, as corporate deal making helped send the market to the biggest three-day winning streak since March 2009. The Dow Jones Industrial Average finished 213.88 points higher, or 1.90%, to 11482.90, closing near session highs for a third straight advance.

Google Inc. (NASDAQ: GOOG) signed a deal to acquire Motorola Mobility Holdings, Inc. (NYSE: MMI) total of $12.5 billion. While Google has assured that the Android will continue to be open source, and thus available to other smartphone makers, questions remain as to how Google will beef up its newly owned Motorola when the Android platform is also being 'freely' made available to Motorola's rivals.

Acer Group Inc., the Taiwanese firm known for the Aspire desktops and laptops, is joining the tablet war with its the 7-inch Acer Iconia Tab and is hoping to cash in the surging demand for smartphones with the wild looking Acer Iconia Smart.

Google Inc. (NASDAQ: GOOG) signed a deal to acquire Motorola Mobility Holdings, Inc. (NYSE: MMI) total of $12.5 billion. While Google has assured that the Android will continue to be open source, and thus available to other smartphone makers, questions remain as to how Google will beef up its newly owned Motorola when the Android platform is also being 'freely' made available to Motorola's rivals.

MARKET CLOSE (4.30pm AEST)The ASX 200 index (XJO) rose 2.6 pct or 110.3 pts to 4282.9 while the broader All Ordinaries index (XAO) is up 2.6 pct or 108.9 pts to 4346.8. All sectors managed to post solid gains today, with the energy and mining sectors leading the way.

EFTPOS Payments Australia Limited (ePAL), the company that manages one of Australia’s largest popular debit system, reiterated that its new interchange fees will not be passed directly on to the consumer or retailers.

Insurance Australia Group will acquire a 20 percent strategic interest in China-based general insurer, Bohai Property Insurance Pty Ltd (Bohai Insurance), for an estimated price of A$100 million or RMB687.5 million.

Virgin Australia launched on Monday its Capital Connect daily shuttle services between Canberra and Sydney, which offer up to 10 return services each day between the cities with guests receiving complimentary in-flight snacks and drinks.

Leighton Holdings Ltd (ASX: LEI) posted an after tax loss of $409m for the 2010/11 financial year, but targets to bounce back with its string of new projects on hand.

(This story was originally published on Friday, 12th August, 2011. It has now been repeated to make it available to non-paying members at FNArena and to readers elsewhere).

Australia's manufacturing firm Manassen Foods has been reported negotiating a deal with China's second largest food company Bright Food Group Co.

Newcrest Mining, Australia's biggest gold producer, has posted a 63 percent jump in its annual profit, driven by higher gold prices and the acquisition of Lihir Gold last year.

While Washington was busy holding the global markets hostage and placing billions in badly needed R&D funding on the chopping block, a new report from REN21

For the first time in a fortnight, investors will start the trading week without the threat of a major market slump.

It's another big week for the markets and economy here and offshore. Will the markets settle, or will we face more of last week's craziness?