Wesfarmers Ltd (ASX:WES) says it has secured an increase to its metallurgical coal prices for the first three months to 31 March 2011.
Rising waters in Queensland's capital city, Brisbane, have caused Australian conglomerate Wesfarmers (ASX: WES) to close some of its Coles supermarkets.
The floods in Queensland are being blamed on one of the strongest "La Niña” weather phenomenon case in the world to date that led to unusually less rain to the South America near along the eastern Pacific and more rain to the western Pacific.
The Queensland floods, which on January 5 caused a steam outage at the Lytton Refinery, prompting an unscheduled shutdown, is expected to cost Caltex Australia (ASX: CTX) $5 - $10 million (after tax) in 2011. The company is continuing to assess the impacts of the severe weather conditions.
Australia's major airlines are set to experience a significant slump in passenger numbers because of the Queensland floods, The Australian Financial Review says.
Westpac has dismissed a report that it is looking to replace chief executive Gail Kelly.
The Centro Properties sale of its 600 U.S. shopping centers and 112 overseas malls has attracted interest from six high-profile local and overseas companies.
The Australian securities regulator on Wednesday issued a class order which aims to clarify and standardise reporting of short positions in the Australian securities market.
Strength from mining stocks is managing to keep the Australian share market slightly firmer at lunchtime in the East, although worries about the economic cost of the Queensland floods is also having an impact.
The Australian dollar bounced back after lingering on the low side for a month as promising economic data pushed the market short.
The Australian Dollar fell on the release of yesterdays Trade Balance with the number coming in well below forecast at A$1,93 billion compared with a previous reading of A$2.56 billion.
The AUD has opened slightly higher this morning after a fairly uneventful offshore session overnight.
US wholesale inventories fell by 0.2pct in November - the first fall in 11 months.
U.S. stocks rose Tuesday as worries eased over the euro zone debt crisis, but the gains were pared in the afternoon as a shaky start to the earnings season made investors hesitant to leave big bets in the market ahead of an expected snowstorm in the New York metropolitan area.
National carrier Qantas (ASX: QAN) today announced it would resume A380 services between Australia and Los Angeles, commencing with QF93 from Melbourne to Los Angeles on 16 January.
Optus, Australia's second-largest telecommunications carrier, says the there has been limited impact to the Optus mobile network in the flood affected areas of Queensland as of 4pm today.
Australian stocks closed slightly lower on Tuesday, with investors targeting defensive stocks due to concerns over the economic impact of the Queensland floods.
As coal mining in Queensland came to a grinding halt due to floodwaters, many buyers run to U.S. coal producers to meet their needs.
The local share market closed flat today, although companies directly affected by the Queensland floods were sold off.
Brisbane residents are being advised to move to higher ground as heavy rains continue to pour in the state as authorities fear that the death toll from the floodwaters will continue to rise.
The total number of jobs advertised in major metropolitan newspapers and on the internet rose for the eighth consecutive month, the ANZ Job Advertisements Series shows.
Australian executives are positive on the economic outlook for 2011, despite weakness in consumer spending, according to a business expectations survey by Dunn & Bradstreet.
The South Australian government is sending a State Emergency Service crew to help rescue efforts in Queensland in addition to increasing its contribution from $300,000 to $1 million.
General Motors Co.'s Opel unit says it plans to start exporting cars to Australia in 2012.
Victorian residents wanting to build new household dams in areas located on the rural-urban fringe will be allowed a two-month grace period to register starting from January 1.
The number of mortgages in Western Australia dropped in December as more people considered fixed-rate mortgages to counter the threat of rising interest rates.
Qantas (ASX: QAN) unit Jetstar has been named the first ever official airline partner of the Women's Tennis Association (WTA) and its tournaments across the Asia Pacific region until 2013.
Local stocks are once again trading in the red mid-session, due to concerns about the impact the Queensland floods will have on insurers and banks, and thanks to a weak lead from offshore markets and a fall in metals prices in London.
The proposed gas hub slated at James Price Point, north of Broome, will impact the local housing raising prices and increase rents says the president of the Real Estate Institute of Australia
The AUD had a somewhat volatile night during the offshore session last night, especially compared to its recent tight trading ranges.
