BUSINESS

BP Solar is partnering with Verve Energy as the lead contractor to build Australia's largest ever grid-connected solar power plant, a 10 megawatt (MW) utility scale solar photovoltaic (PV) plant in Western Australia.

Oil and gas explorer Bow Energy Ltd (ASX: BOW) said on Tuesday that negotiations for strategic partnership with Liquefied Natural Gas Ltd has bogged down and so is the possibility that the two firms would collaborate on the planned liquefied natural gas (LNG) project in Gladstone, Queensland.

Australia and New Zealand Banking Group (ASX:ANZ) announced today it will commence lending and banking operations in China on October 1 after its wholly owned subsidiary Australia and New Zealand Bank (China) Company Ltd received regulatory approval.

Junior mining company Avanco Resources Ltd (ASX: AVB) saw its market stocks climbing to steep levels as the company revealed on Tuesday that its drilling activities in Brazil yielded high copper grades that could see production very soon.

Forecasts of a rise in mango exports could be affected by the collapse of a company that owns a mango farm in Western Australia.

Power generator Alinta Energy Group (ASX: AEJ) said on Monday that it has struck a deal with its lenders that would see the company’s $3.5 billion debt being wiped out by sale of its assets to a company controlled by the lending consortium.

The Australian currency was slightly firmer at Tuesday noon after the central bank gave another strong indication of an increase in cash rates.

The Australian bourse remains stronger at Tuesday noon although it pared some morning gains, following a rise on United States markets overnight.

Landowners and a housing developer have sent the Queensland government a copy of the deal they have recently signed to develop Palmview.

The Reserve Bank of Australia is ready to increase its policy interest rate if the nation's economic strength continues to point to higher inflation, the central bank said in minutes of its September board meeting released in Sydney today.

Investment bank Nomura Australia released a report showing the strong capability to face funding and liquidity issues.

The Chamber of Commerce and Industry in Tasmania is mulling the possibility of re-consolidating the state’s power generators in hopes of rationalising the region’s energy business following the spiralling electricity costs seen in the state lately.

Australia's Future Fund expanded its portfolio by investing in U.S. hedge funds and developed markets in the 2009 – 2010 financial year.

Energy firm New Hope Corporation Ltd (ASX: NHC) said on Tuesday that it still netted significant profit despite the substantial earnings slide it saw during the past full year as coal productions and exports of the company reached new heights for the year while sale of a major asset ensured its profitability.

The Australian dollar hit a 2 year high overnight, falling just short of USD 0.9500 after positive comments from RBA Governor Glenn Stevens yesterday boosted the local currency.

The US NAHB housing market index remained changed at 13 - the lowest level since March 2009. A reading above 50 indicates that more builders view sale conditions as favourable. The survey´s expectations index for the next six months fell to a 18-month low.

U.S. stocks rallied to their highest level in more than four months as encouraging financial and home builder earnings boosted confidence in the economic recovery.

The Aussie is taking no prisoners so far this week, continuing its rally from yesterday's open of 0.9362 to push through 0.9450 by the end of the Asian session.

Insurance Australia Group Limited (ASX: IAG) may have posted a slump in its profits last year, but it was still able to give the chief executive a raise.

Giant mining firm BHP Billiton Ltd (ASX: BHP) revealed on Tuesday that it has extended the period of its takeover bid for Canadian fertiliser producer Potash Corporation of Saskatchewan for another 30 days following receipt of notice from the Canadian Competition Bureau.

The Australian Competition and Consumer Commission (ACCC) proposal for telecommunications giant Telstra Corporation Limited (ASX: TLS) to lower its price will send ripples.

Retirement village Aevum Limited (ASX: AVE) seems to be close to hoisting up the white flag when its board of directors reluctantly recommended last night investors to accept offer from Stockland Corporation Limited (ASX: SGP).

Superannuation guardian Future Fund posted a 10.6 percent return for the financial year

The September share price index contract was 42 points higher at 4,693 this morning at eh Sydney Futures Exchange. The surge follows after Wall Street closed at a four-month high.

The Australian currency closed slightly higher on Monday after Central Bank governor Glenn Stevens gave a clear hint that higher interest rates would likely be needed if the economy accelerates as he expects.

The Australian bourse finished lower on Monday amid some profit-taking, although heavyweight mining and bank stocks partly recouped their losses after a speech by Reserve Bank of Australia governor Glenn Stevens described a "robust economic upswing" in Australia.

Perth-based Arafura Resources Ltd (ASX: ARU) said on Monday that it has been informed by the South Australian government that the company’s breakthrough rare earths processing complex would be given major project status.

The Central Bank today hinted an increase in interest rates as Reserve Bank of Australia governor Glenn Stevens said policy makers would manage what he described as a "robust economic upswing".

Uranium explorer Toro Energy Ltd (ASX: TOE) said on Monday that it is nearing the realisation of its uranium mine site following the approval granted by Western Australia’s Environmental Protection Authority (EPA) on the company’s scoping document for its Wiluna project.