BUSINESS

Ausenco Limited (ASX: AAX), an Australia-based engineering and project management group, today confirmed that it had returned to growth in the second half of 2010.

U.S. stocks swooned in their biggest one day drop in nearly a month as fears mounted over a slowdown in Chinese economic growth and criticism of the Federal Reserve's recent action grew

US producer prices rose by a less than expected 0.4pct in October.

The Australian share market closed moderately higher on Tuesday, led by strong gains in the finance sector.

Australian stocks closed slightly firmer today, led by financial stocks. The All Ordinaries Index (XAO) closed up 9.5pts or 0.2pct to 4782.8.

After succeeding setbacks on planned merger and acquisition deals, BHP Billiton Ltd had conceded that absorbing such defeats were wholly difficult for the giant resources firm, which is also regarded as the world’s largest mining operator.

Bankers said today's minutes from the Reserve Bank Board's Monetary Policy meeting confirm that the cost of banks' funding has increased beyond the official cash rate.

Australia and New Zealand Banking Group Ltd (ASX: ANZ) said Tuesday it is continuing to conduct due diligence on a majority stake in Korea Exchange Bank, dismissing media reports that the Melbourne-based lender had lost out to another bidder.

AWB Ltd shareholders voted overwhelmingly on Tuesday to support the $1.24 billion takeover proposal of Canadian firm Agrium Inc for the Australian rural services provider.

The local share market is trading fairly flat in early trade, following a mixed offshore lead. US stocks ended relatively unchanged while base metals prices were mostly weaker on the London metals exchange.

A multibillion-dollar takeover bid for AXA Asia Pacific (ASX: AXA) hit a potential hurdle on Tuesday when the Australian company's board failed to meet a key condition of unanimously backing the proposal.

U.S. stocks climbed broadly Monday as a bigger than expected increase in retail sales for October set a positive tone for the holiday shopping season set to kick off in earnest next week.

US retail sales rose by 1.2pct in October - marking the biggest monthly gain in seven months and well ahead of expectations (0.7pct).

Toyota Australia today said its LandCruiser, which has the longest history of any Toyota nameplate, has passed 750,000 sales in the country during the 60th anniversary year of the iconic off-roader.

With another Qantas fight en route to Argentina turned back into Sydney Airport after an hour of flight due to electrical problems, the airline’s low-fare subsidiary Jetstar appeared to be smarting from the scary episodes that highlighted rising questions on the company’s safety integrity.

The Australian share market closed flat on Monday as weakness among materials stocks outweighed strength in the banking sector

Sports utility vehicles (SUV) continue to lord it over as it registered record sales anew in October yet the numbers proved insufficient for the industry as the overall turnovers of motor vehicles in Australia suffered a decline in the month.

Local stocks edged slightly lower in afternoon trade as mining stocks turned negative. Merger and acquisition activity had earlier supported the market.

ING Direct, Australia's fifth largest retail bank, announced today it will increase its residential variable home loan rates by 0.38% p.a. effective from 16 November 2010.

Australian car maker GM Holden Ltd appeared fully-recovered from the losses it suffered during the height of global financial crisis as it reopened its Adelaide factory and announced on Monday that the facility’s second shift has come online.

Australia's logistics and supply chain management solutions provider Brambles (ASX: BXB) has announced its bid to acquire IFCO Systems NV for $US1.255 million ($1.27 million) to expand the company's supply chain business in the US and Europe.

Elders (ASX:ELD), an Australian based agribusiness company, today declared a positive start to the financial year as it nearly halved its annual net loss.

Wealth management firm AMP tossed its new $14 billion cash and scrip bid to buy AXA Asia Pacific Holdings, in a coup deal that analysts believed would be given the nod once the AXA-APH board convenes this week.

Australian stocks have ignored a weak offshore lead and are instead being supported by a raft of company news in early trade.

Bankers said today media reports claiming that Australia's banks have won an exemption from tough new international rules are incorrect.

Commonwealth Bank of Australia (ASX: CBA), the country's top lender, has posted cash earnings of $1.6 billion for the three months to September. That compares with $1.4 billion reported a year-ago and hits the $1.6 billion average forecast of analysts.

Giant resource firm BHP Billiton Ltd formally announced on Monday that it is withdrawing its $US45 billion takeover bid for Potash Corporation of Saskatchewan Inc, re-echoing the earlier claims of the Canadian government that provisions of its offer sheet could not come to terms with the net benefit requirements of the Investment Canada Act for the deal.

U.S. stocks sank Friday, ending a lackluster week as investors already on edge about global growth prospects became concerned that China could take steps to brake its economy's expansion

The University of Michigan preliminary reading on US consumer sentiment rose from 67.7 to 69.3 in November - marking the highest reading since June.