BUSINESS

Telstra chief information officer John McInerney has stepped down effective immediately, as the company plans to merge two IT divisions.

The Minerals Council of Australia is pulling out advertisements against government plans for a new levy on mining after new Prime Minister Julia Gillard pledged to open the door to the industry for consultation.

Bendigo and Adelaide Bank Ltd said on Thursday that retail deposits currently comprised 87 percent of the bank’s on-balance sheet funding source in May this year while its loan arrears settled to below the 0.94 percent of the bank’s loan book.

Incat admitted today that its current finance situation is problematic, but Tasmania’s biggest shipbuilder is still confident that it would survive the dwindling demand in global production of ferries.

AGL Energy Ltd., the leading power distributor in Australia, intends to hasten the $700 million (A$800 million) wind farm at Macarthur after the Senate passed law revisions that impel investment on renewable energy.

New Prime Minister Julia Gillard has promised to cancel the government's $38 million counter-campaign against the mining sector's anti-tax ads in return for co-operation in negotiations from the industry.

Erstwhile Fairfax Media chief executive David Kirk is set to invest and join the board of new data cable company Pacific Fibre, which was launched earlier this by TradeMe founder Sam Morgan, The Warehouse founder Sir Stephen Tindall and Xero founder Rod Drury.

Morgan Stanley has initiated coverage on iiNet with an Overweight rating, supported by earnings growth assumptions in coming years that are above market consensus.

Talga Gold Limited will be joining the ranks of trading companies at the Australian Securities Exchange on July 8 after it successfully closed its subscription of $5 million initial public offer (IPO).

Macquarie Group Ltd said on Thursday that uncertain market conditions are adversely affecting the company’s numerous business activity levels though it clarified that it is quite early to tell for now the implications on the investment group’s full year result for 2011.

AGL Energy Limited said on Thursday that it would fast track its Macarthur wind farm project after the Senate approved changes on the Renewable Energy Target (RET) scheme last Wednesday.

Rodinia announced today that the State of Western Australia has newly granted the company with two Petroleum EPAs (Exploration Permit Applications), spanning about 5,654,000 acres (22,880 square kilometres) in Western Australia. The new EPAs were granted pursuant to Rodinia’s application last March 1, 2010.

Twenty-first century metallurgical advances have liberated the value of an extensive gold-copper resource at Ravensthorpe for junior miner Tectonic Resources.

Sino Green Land Corporation, one of China’s leading distributors of quality fruits and vegetables, announced this day that it has begun its expansion of Green Food exports into Australia after a lucrative trial order with domestic distribution partners.

A new legislation would be introduced by the parliament following retailers' complaints that surfaced yesterday, stating that their trading hours would be shortened.

The Tasmanian Government faced another controversy as it was accused of knowing the financial problems of Aurora Energy before it announced to cap power prices during the election period.

Canberra failed in convincing Fortescue Metals chief executive Andrew Forrest to back the new mining tax by suggesting changes in the capital treatment.

Despite Tuesday's technical break-down, Wall Street managed to hold up last night in the face of very weak housing data and a more sober outlook from the Fed. Dow up 4.

The US Federal Reserve has no reason to lift interest rates from their current record low of 0% to 0.25%.Inflation is ve...

The discount in the share price of Seven Group Holdings continues to widen.The merger between Seven Network and Westrac...

Perpetual CEO, David Deverall, did the right thing by his employer yesterday in signalling his decision to stand down ne...

There is life after Babcock & Brown, just look at Alinta Energy (AKA Babcock & Brown Power)The power station company has...

A look at the Suncorp-Metway share price graph will tell us that the financial group is going nowhere as investors wait ...

Melbourne-based Sonray Capital Markets group flops and accounts of its 3000 clients have been frozen.

Trying to establish its presence in the direct sales and financial advice markets, Suncorp-Metway aims to more than double its new life insurance business in the coming three years.

Australia's largest brewer Foster's Group Ltd could save up to $150 million (US$130 million) by putting its Abbotsford plant in Melbourne on sale, Merrill Lynch analysts said.

Graphics-software company Adobe Systems recorded an 18 per cent leap in second-quarter profit, gaining from strong sales of its flagship Creative Suite 5.

The tuna industry is being urged to regulate bycatch - the capture of undersized specimens and fish other than tuna - to increase fishery sustainability, by the International Seafood Sustainability Foundation.The call comes as representatives of Australia's tuna industry regional fisheries managemen...

The US National Pork Board has issued a cease and desist letter to online retailer ThinkGeek regarding a potential infrigement of their trademark slogan 'The Other White Meat' - in regard to an April Fools Day 'canned unicorn' product.A headline on the ThinkGeek gag page for Radiant Farms Canned Uni...