BUSINESS

Junior mining firm Murchison Metals Ltd (ASX: MMX) downplayed on Monday circulating speculations that its iron ore joint venture partner Mitsubishi Corporation of Japan is dropping out from its earlier deal with the company to develop the Oakajee Port and Rail project in midwest Western Australia.

Major changes will soon be felt in the credit card payment system of the National Australia Bank Ltd (ASX: NAB) as the giant bank announced on Monday that a new scheme is set to take effect that seeks for the settlement of high interests first prior to payment of lower interest items.

Lawyers handling the $37 million sexual harassment case against luxury retailer David Jones Ltd and its former chief executive Mark McInnes requested the Federal Court on Monday that the names of a number of witnesses for the case remain protected by confidentiality.

Westpac Banking Corporation (ASX:WBC) said business credit growth is set to resume in the next six months as a gradual pick-up in consumer spending flows through to the commercial sector.

The Health Lies in Wealth report shows the poorest of Australians dying three years earlier than the wealthiest.

The New Zealand government has put some necessary brakes on its policy allowing foreigners to own tracts of farmlands in the country.

Virgin Blue said on Monday that it has restored its check-in system that crashed yesterday as the airline continues to grapple in restoring normalcy on its service flights across Australia and catch up on the backlogs left by the apparent computer glitch.

Two new mobile breast screening units will be accompany health team units during their two year rounds across the state.

The Australian currency traded near a two year high at Monday noon on rising equities in the region and a weaker greenback, but had drifted lower this morning's high as it consolidated.

The Australian sharemarket extended its gains at Monday noon, buoyed by financial and materials stocks and positive offshore leads from the US and Asia.

New Zealand's retail stores have a common reaction of a cautiously moderate spending in the forthcoming Fall 2010 shopping towards the Christmas season would further boost up sales.

Eighteen more Bunnings stores are set to be established in all of New South Wales over the next three years as the Wesfarmers Ltd (ASX: WES) hardware subsidiary announced on Monday that up to $600 million would be earmarked for its planned expansion in the state.

Treasurer Andrew Fraser has ensured the corporate office of Queensland Rail (QR) to remain in Queensland.

The Reserve Bank of Australia's next move will be largely dependent on the Financial Stability Review (FSR) on Thursday.

Australia's largest rabbit farm is up for sale and food packaging company EasyFood is about to buy the shares.

Joint venture partners Hydro Tasmania and Roaring 40s said on Monday that the suggestion made by a Tasmanian senator on the nearing restart of their $450 million wind farm project in the north-eastern part of Tasmania may be a little inaccurate.

The Victorian Supreme court has finally agreed to have an April trial for barrister Allan Myers' outback property.

Gas producers Liquefied Natural Gas Ltd (ASX: LNG) and Metgasco Ltd (ASX: MEL) said on Monday that they have struck a deal to collaborate on the possibility of producing liquefied natural gas (LNG) from regular gas LNG’s Gladstone project in Queensland.

Myer Pty becomes the trail blazer in putting an end to the seemingly continues mark downs and discounting in department stores across the country.

US durable goods orders fell 1.3pct in August after a revised 0.7pct gain in July. The decline was largely due to a 40.2pct fall in non-defence aircraft spending.

Last week saw a solid performance from the Australian Dollar, gaining approximately 2.5% in value against the Greenback and closing higher yet again on Friday.

The Australian share market sets to open higher after Wall Street rallied to a four-month high.

The Australian market has finished off the week around 0.75pct weaker after the ASX 200 (XJO) index pulled back by 0.7pct or 31.7pts today.

The Australian dollar jumped against the yen on Friday amid speculation Tokyo had intervened again, while expectations of rate hikes in Australia kept the Aussie buoyant on the US currency.

Australian stocks fell on Friday and snapped a three week winning streak after edgy investors preferred to take profit as lacklustre U.S. and euro zone economic data rekindled recovery worries.

Kathmandu Holdings Ltd., a clothing and outdoor equipment retailer listed in theAustralian and New Zealand Stock Exchanges (ASX/NSX:KMD) has reversed a slack in its shares performance and recorded an uptick of 1cent to NZ$1.78 as at the 5 p.m. market close in Wellington today and a 1.84 percent hike to A$1.385 earnings per share in Sydney.

Australia's second largest retail holdings firm Wesfarmers Ltd.reported a net profit after tax of $1,565 million for the full-year ended 30 June 2010. This was an increase of 2.8 percent compared to last year.

Air New Zealand informed its shareholders on the company’s annual meeting on Friday that it had a tough year for fiscal 2010 but the airline’s chairman expressed optimism that good days are ahead and recovery would accelerate come next year.

Taxi fare payment company Cabcharge Australia Ltd (ASX: CAB) will pay $15 million in penalties and costs related to legal action taken against it by the consumer watchdog.