BUSINESS

Equinox Minerals Ltd (ASX:EQN) says it has successfully completed its $1.25 billion friendly takeover of Citadel Resource Group Ltd (ASX:CGG), which owns a copper mine in Saudi Arabia.

New Hope Corporation Ltd (ASX:NHC) says its Queensland coal mines are back in operation, though the state's floods have inflicted significant damage to a major rail link.

Interest rates are expected to rise sooner as Queensland rebuilds damage incurred during the devastating floodwater says economists.

Fortescue Metals (ASX: FMG), Australia's third-biggest iron ore miner, says ore shipments jumped 9 percent in the December quarter from a year earlier as it continues with its expansion plans in Australia.

Woolworths (ASX: WOW) has reached a current total donation of $10 million for the Salvation Army flood appeal, with three shopping days still to go.

Despite a somber start of the year, there is still a lot to look forward to for savvy property investors.

Construction giant Leighton (ASX: LEI) says its subsidiary Thiess Pty Ltd has been awarded a major coal seam gas upstream infrastructure contract in Queensland.

Real estate prices in Brisbane are forecast to plunge and rental rates to rise as market demand for accommodation jumps during the wake of the disaster.

The largest real estate auction in the country offering 152 properties and 12 luxury boats on sale will begin from January 28 to 30.

A lack of influential data released and the US markets closed for Martin Luther King Day meant that the AUD was mainly influenced by Europe during last night's offshore session.

European stocks ended relatively flat Monday as shares held tight ranges as finance ministers prepared for a meeting to discuss the sovereign-debt crisis.

The German finance minister Wolfgang Schaeuble has said that there is no immediate need to increase the size of the euro-zone rescue fund.

Australia’s inflation remains above the central bank’s target 3% for the 4th consecutive month. Prices increased 0.2% from the previous month according to the Melbourne Institute.

The Australian TD Securities - Melbourne Institute monthly inflation gauge lifted 0.2 per cent in December, with price increases for fuel, fruit and vegetables, holiday travel and accommodation contributing the most to the rise, according to data released on Monday.

Agrichemicals company Nufarm Ltd (ASX:NUF) says it will fight legal proceedings vigorously after law firm Slater & Gordon Ltd (ASX:SGH) filed class action proceedings against it.

Spanish building giant ACS has secured regulatory clearance from the European Union to take control of Leighton Holdings Ltd (ASX:LEI) parent, Hochtief.

Transfield Services (ASX:TSE) says it has secured two new defence industry contracts totaling A$68 million.

An estimated 17,232 households failed to pay their gas bills in 2010, a 2.5 percent rise compared to the year before says a report made by the Economic Regulation Authority.

There are plans to convert the former site of the Charles Sturt University (CSU) into a residential estate in five year's time.

The Commonwealth Bank of Australia (ASX: CBA) has activated its special emergency assistance package to help Victorian residents and businesses affected by flooding from regional Victoria.

Resource giant BHP Billiton Ltd (ASX:BHP) is refocusing on organic growth after a string of failed high-profile takeover attempts.

Insurance companies are being urged to improve their policies when it comes to flood disasters says Queensland Premier Anna Bligh.

NBN Co has awarded three equipment contracts worth over $1.6 billion to Australian located companies to supply passive network infrastructure to build the national broadband network during the next five years.

The Queensland floods that inundated most of the state and crippled many of its major industries could possibly be the most expensive disaster in the country says Federal Treasurer Wayne Swan.

The Australian Dollar has opened this morning in the low 0.9900’ s after touching the mid 0.9800’s on Friday’s night trade after the Chinese central bank raised the loan reserve requirement by another 50 bps to 19%, the fourth rise in the last 2 months in a further attempt to cool inflation and the strong property market in the major cities.

The Australian Dollar opens this morning buying 0.9894 US Dollars. The Queensland floods still remain the focus for investors as the cost of the dictator start to weigh in. Insured losses may cost as much as $6 billion for insurers worldwide according to Munich Re, the world’s largest reinsurer.

U.S. stocks reached their highest closing levels in two and a half years Friday, driven by a rally in the financial sector following stronger-than-expected earnings from J.P. Morgan Chase.

The US consumer price index rose 0.5pct in December, ahead of forecasts centred on a rise of 0.4pct. The core rate (excludes food and energy) rose 0.1pct. Retail sales rose 0.6pct in December, below forecasts tipping a rise of 0.8pct.

The already weak Brisbane property market will take further beating as houses are expected to be taken out of the market completely and prices start plummeting.