BUSINESS

Potash Corp of Saskatchewan Inc announced overnight it has rejected an unsolicited takeover bid from Australian diversified natural resources company BHP Billiton (ASX:BHP) worth about $US38.49 billion ($42.85 billion).

Inflation is expected to remain under control until 2012 even though consumers continue to hold on to their money. The Reserve Bank of Australia (RBA) revealed its favorable outlook on the inflation rate and on the economy in the minutes of its August meeting.

Australia faced a 5.3 percent unemployment rate in July. Economic analysts are confident the figure will remain the same for August. Political analysts, however, say the figure may sway votes in the August 21 elections.

Australia-based medical centre operator and pathology provider Primary Health Care (ASX:PRY) has announced a 21.7 per cent increase in net profit but expects earnings in the current year to be at the lower end of earlier guidance.

A study by the Australian Farm Institute (AFI) published on Tuesday found that the country’s agricultural sector is suffering from labour shortage of at least 96,000 full-time workers and an additional skill drought of 10,000 part-time workers.

The Welfare Rights Centre (WRC) expressed deep concern over the employment policies of the Coalition and the Opposition parties. Both parties have included rewards, as well as, punitive measures in efforts to win voters for the August 21 elections.

A study by the Australian Farm Institute (AFI) published on Tuesday found that the country’s agricultural sector is suffering from labour shortage of at least 96,000 full-time workers and an additional skill drought of 10,000 part-time workers.

Woodside Petroleum (ASX:WPL) reported another gas find in Western Australia's Carnarvon Basin.

Australian exports have a stable market in the top three economies of the world. China, for one, moves on to overtake Japan as the second largest economy, next to the United States.

Using the waves of the southern Australian coastline can meet half of the country's current electricity needs. Setting up the electricity infrastructure to tap the energy along the coast now could even halt the rising cost of electricity.

It is the second year of profit for the Adelaide Casino. The recently released figures signal continued employment and government earnings.

The AUD has opened stronger this morning gaining overnight with news that China will take over Japan's place as the world's second largest economy.

US NAHB housing market index fell 1pt to 13 in August - marking the third straight month of falls and a 17-month low. A reading below 50 indicates that more builders view conditions as poor rather than good.

U.S. stocks bounced around in jumpy trading Monday, as major manufacturers including 3M lagged but technology companies Cisco and Intel jumped thanks to buzz generated by new deals activity.

Poor growth data released in Japan yesterday was enough for investors to once again eschew riskier assets which saw the Australian Dollar dip towards 0.8860 early in the Asian session.

The Australian currency opened in a better position today, thanks to news its primary trading partner, China, has overtaken Japan as the world's second-largest economy.

Sports utility vehicles (SUVs) is fast-becoming the car of choice for most Australians and according to the latest data furnished by the Australian Bureau of Statistics on Tuesday, the month of July alone saw some new 20,405 units rolling out of dealers’ outlets.

The airline industry enjoyed an increase in the demand for premium airline tickets. A 16.6 percent increase in ticket sales kept first class seats filled in June. The increase also covers sales for business class tickets.

The Australian share market opened flat following mixed leads from offshore trade overnight.

UGL Ltd (ASX:UGL) an Australian diversified services company operating in maintenance, facilities management, engineering and construction, announced today its annual profit increased 1 percent, thanks to higher earnings from its infrastructure and resources units.

Oops, but aren't the US, Chinese and Japanese economies, the world's three biggest, suddenly in synch again, on the dow...

Oops, but aren't the US, Chinese and Japanese economies, the world's three biggest, suddenly in synch again, on the dow...

Oops, but aren't the US, Chinese and Japanese economies, the world's three biggest, suddenly in synch again, on the dow...

Construction giant Leighton Holdings yesterday reported a 39% rise in annual profit and higher dividend, as it attempted...

Steel producer Bluescope Steel returned to the black in the 2010 year, earning a net profit of $126 million.The company...

Bid off, deal done, Sigma Pharmaceuticals survives to live another day.That's the bottom line from yesterday's news tha...

Virgin Blue is abandoning New Zealand after millions of dollars of losses in the three years of flying domestically ac...

Australia and New Zealand Banking Group (ASX:ANZ) said it is reviewing the finances of Korea Exchange Bank, the lender put up for sale by Lone Star funds.

PepsiCo stands to benefit from "significant" investment in functional and healthy products, amid tightening restrictions on the marketing of 'junk foods' to children, the head of health policy at the company said yesterday.Derek Yach, senior vice president of global health policy for PepsiCo, said t...