BUSINESS

Mixed news on the housing front yesterday with Reserve Bank figures showing lending for May was solid, but new home sal...

Rio Tinto has moved to cement its control of Ivanhoe Mines of Canada and the huge Oyu Tolgoi copper and gold project in ...

Mining service provider, Ausenco Ltd, says it will take a $6.8 million after-tax, non-cash impairment charge in its ha...

Australian mining firm Indophil Resources NL has committed to continue developing its Tampakan copper-gold project in the Philippines.

The Australian Competition Tribunal on Wednesday ordered BHP Billiton and Rio Tinto, the second- and third-largest iron ore exporters, to share their multibillion-dollar infrastructure in the Pilbara to others.

Discount supermarket chain Franklins has been acquired by its wholesale supplier, Metcash Trading Ltd, in an unsolicited $215 million offer to its current owner, South African chain Pick n Pay.The sale, pending approval from the ACCC, will also bring to an end all current litigation between the two ...

The Federal Government has given the green light to apple imports from China today, following a recommendation by Biosecurity Australia.Fears of infestation by the spotted-wing fruit fly, Drosophila suzukii, a pest present in China and indigenous to south-east Asia, have caused concern among Austral...

Nestlé announced yesterday that it will invest CHF 40 million (A$44.6 million) in the Democratic Republic of the Congo, also known as the DRC, over the next three years.The Democratic Republic of the Congo remains one of the world's most unstable nations. The mineral-rich country was the centre of ...

A snapshot of economist responses to today's as expected Australian retail sales and weaker than expected building approvals data for May.

There simply is no two ways about it: China's economy is slowing down.

As many as 200 employees of Australian banking major Westpac could stand to benefit from a plan which proposes to pay super on unpaid parental leave to the lenders permanent staff.The first such measure to be adopted by an Australian bank would affect all group companies of Westpac, which include St...

Volatile global financial markets that plunged in the aftermath of the European sovereign default crisis have consumed the highly anticipated bounce in super fund returns.The drop in financial markets is likely to result in investment earnings falling below double digits for the financial year, endi...

With renewed worries about the Chinese economy, here's some news that will add to those concerns,Around 10% of China's a...

The Australia 200 CFD Index finished 1% lower at 4301.5, with material and industrial names detracting most of the points

STW Communication Group Ltd reaffirmed on Wednesday its guidance of double-digit net profit growth for 2010 as it expressed confidence that the company remains on track to deliver much solid performance for the half year leading to June 30.

Australia’s business credit experienced an annualised expansion rate of 1.2 percent over the quarter to May.

The Australian dollar advanced after news that bank lending strengthened in April and May. The Aussie dollar was at 85.21 U.S. cents as of 2:28 p.m. in Sydney, from 84.87 cents yesterday.

While the Australian share market remained in the red territory by early afternoon, it was off its lows as several investors tentatively sought bargains.

Downer EDI has rejected all claims that it is fidgeting with its operational funds to lift its end-of-year accounts.

Perth-based Macmahon Holdings announced today that as an alliance consortium member, it has been awarded a $50 million share of a $112 million rail contract extension by the New South Wales Government.

More than 200 experienced dairy workers will get laid off after National Foods announced that it would shut down its western Sydney plant.

While the Australian share market recovered slightly by noon, it was still distinctly lower, with massive losses in various sectors.

The Housing Industry Association (HIA) said on Wednesday that new home sales fell to a three-month low in May thanks to the ever-increasing interest rates which further doused cold water on an already struggling fresh housing demand recovery.

Declaring that negotiations with the mining industry members are "good," Australian Prime Minister Julia Gillard will likely unveil a compromise with the sector on its planned tax measures.

Telstra Corporation Ltd, the Australian telecoms giant, has defended its intentions of offering exclusive content via Foxtel, provider of pay television, asserting that the deal was done at “arm’s length” and rejecting claims of non-competition reported by Fairfax.

Multinational mining and resources group Rio Tinto will exercise warrants to acquire shares of Ivanhoe Mines, expanding its interest to 30 per cent for about $US393 million.

FNArena has the pleasure to welcome senior resources analyst Gavin Wendt as contributor to our news and analysis service.

Northern Star Resources has signed a new deal with Intrepid Mines for Paulsens Gold Mine after renegotiating the offer to $40 million, an increase of $13 million.

Waning hopes on the potential power of continued international growth pushed down commodities today, with copper suffering the hardest hit.