BUSINESS

ASX rival Chi-X Global keen to launch in March 2011

Chi-X Global Inc. is still set to work towards launching in March 2011, in spite the growing threat of a tougher competitive environment with the bid takeover of the Singaporean bourse of rival ASX Ltd.

Australa's Citadel approves Equinox A$1.25-B offer

Canadian Equinox Minerals Limited (TSX and ASX: EQN) ("Equinox") has announced that it has completed an agreement Australia's Resource Group Limited (ASX:CGG) ("Citadel"), under which Equinox proposes to acquire all of the issued and outstanding shares of Citadel by way of a recommended takeover offer (the "Offer"). The Board of Citadel has recommended unanimously that Citadel shareholders accept the Offer, in the absence of a superior proposal.

SGX offers A$8.4-B takeover bid to ASX

The Singapore Stock Exchange is set to offer some A$8.4 billion deal to Australia's ASX that targets to build one of the biggest exchange trading hubs in the Asia-Pacific as competition stiffens in the local arena.
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ASX competitor Chi-X prepares for launch

Chi-X Global Inc. is preparing a unique trading platform that could provide the fast and efficient platform beneficial to Australian and foreign investors keen on participating in the market action worldwide.

Currency, equity markets gear up on G-20

Currency and equity markets are on the up trend at today's trading as markets speculate that the G-20 summit scheduled this weekend in South Korea will resolve the currency devaluation issue.

World Market Overview

U.S. stocks bounced higher in a day of choppy trading Thursday as encouraging corporate earnings overshadowed jitters over recent currency fluctuations.

Australian Stock Market Report - Morning

The US Philadelphia Fed index rose from -0.7 to 1 in September. Despite still being weak sub indices including new orders, shipments and employment all improved.

Daily forex forecast - 22/10/2010

Growth and inflation figures released from China supported their move to increase interest rates earlier this week. Chinese GDP expanded 9.6% for the previous quarter, exceeding expectations, while inflation accelerated at its fastest pace in 23mths at a rate of 3.6%.

ACCC investigates Packer's investment in Ten

The Australian Competition and Consumer Commission will look into the recent purchase of billionaire Mr. James Packer's acquisition of an 18% stake in Ten Network Holdings Ltd. (ASX: TEN.AU).

Slow entry, constant exit send business numbers down

A decline in new business registrations sent the number of actively trading businesses in Australia 1 per cent lower in 2008/09, according to data released today by the Australian Bureau of Statistics (ABS).

Fortescue defends itself on alleged cost expansion blow out

Iron ore miner Fortescue Metals Group Ltd (ASX: FMG) scored on Thursday a media report suggesting that the company’s declared Solomon Project cost overshot by almost $US2 billion, arguing that the news article was based on an incomplete and confidential document.

ASIC denies relief for Leighton

Leighton Holdings Ltd (ASX: LEI) said the competition watchdog has decided not to grant the relief sought by the company's German parent Hochtief.

Newcrest Mining reports gold output up by 79%

Australia's biggest producer of gold Newcrest Mining Ltd. (ASX: NCM) has reported that its gold production in the first quarter went up by 79 percent to 674,219 ounces, the company said in a disclosure.

Lenders' bumper profits discard need for rate rise above RBA levels

Reports early this month said the big four will give the Reserve Bank of Australia until next month to raise rates or they will go it alone, but a national accounting firm warned lenders that increase interest rates above RBA levels should have their market dominance reviewed by the Federal Government.

Australian Property Mart: Offices and hotels doing well—NAB survey

Business conditions in the Australian Commercial Property market improved in the third quarter ending September, driven by gains in the Office and Hotels segments, while conditions in the Retail and Industrial markets, however, remain negative, the National Australia Bank said in the report of its latest survey released today.

Reports say Packer’s entry on Channel Ten forebodes key network changes

As billionaire investor James Packer moved late on Wednesday to increase his stake on Ten Network Holdings Ltd (ASX: TEN) from an initial share raid haul of 15 percent to 17.88 percent, media reports whirled around stating that the veteran media player would sue for a considerable overhaul in running the television company.

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