BUSINESS

US-based companies have expressed their interests for a takeover bid to a Western Australian-based oil and gas producer.

The continued locust plague may become the biggest threat to the nation's grain farmers as it may possibily infest the areas from Birdsville to Bendigo.

Household savings have dramatically changed for the better in the June quarter, however, credit cards became the major cause of debt in Australia, according to a recent survey.

Leighton Holdings has signed $1.5 billion worth of contracts in Australia and Indonesia.

Mining group Xtrata brushed off claims that it is bluffing when it said it will suspend its multi-billion dollar project in the Surat Basin in central Queensland due to the Federal Government's proposed resources super profits tax.

Rio Tinto Ltd said on Wednesday that the company is re-assessing its existing Australian projects for a worst-case tax scenario possibility as it studies the effect of the proposed resources super profits tax on future growth projections.

The Tasmanian Government will interfere with the regulations regarding its State power prices.

Brazil’s mining giant Vale said on Wednesday that Aquila Resources Ltd’s latest moves could eventually lead to delays and frustrations on their joint coal project in Queensland as managing director Decio Amaral emphasised that the company merely wants to proceed with the feasibility study it is proposing.

New Zealand-based SBS Bank, formerly the Southland Building Society, has reported Wednesday an operating surplus of $NZ19.4 million or $A15.67 million in the year leading to March 31, coming from the $NZ18.5 million or $A14.94 million surplus it posted last year.

Qantas Airlines has appointed 11-year company veteran Gareth Evans to assume the position of chief financial officer.

Coalspur Mines Ltd said today that it is set to acquire new coal leases next to its existing Hinton project in Canada as the company revealed that the new acquisition would be funded by current cash reserves plus some project funding facility from the Highland Park Group.

The Reserve Bank of Australia is optimistic that the European crisis will not affect Australia's resources boom while it focuses on the next inflation rate since interest rate increase is looming.

Analysts are predicting that the economy would modestly grow in the second half of 2010 following the decline of a leading index, which predicts the possible pace of economic activity from three to nine months ahead.

Australian mining group Rio Tinto receives an environmental approval to develop its Kennecott Eagle nickel and copper mine project.

Queensland Premier Anna Bligh has successfully appointed Chris Rodwell as the Trade Commissioner to the Americas.

A stock analyst remarked today that Westfarmers' decision to raise their concerns to its shareholders about the resources super profits tax is a “political move.”

Australians are ignoring forecasts of the Reserve Bank that another interest rates may occur in the next few weeks as they continue to buy real estate properties.

The consumer regulator told media on Wednesday that the penalties thrown against Singapore Telecommunications Ltd's (SingTel) Australian subsidiary Optus for airing misleading advertising are insufficient.

Aquila Resources Ltd is fighting anew with its Brazilian partner, Vale and this time the two companies are in dispute over the approval of part of their proposed 2010/11 budget to start the construction of their Eagle Downs coal joint venture in Queensland.

The Australian bond market fired off with a steady pace on Tuesday following mixed signals from the US and as the market awaits the release of Reserve Bank of Australia (RBA) minutes on the same day.

Mitsubishi Corporation forged an agreement with Buru Energy Ltd to farm-in on the company’s Canning Superbasin project in Western Australia and is set to invest up to $152.4 million in exploration and development expenditures.

House prices in Perth are expected to rise sharply over the next three years, faster than any other capital city in Australia, experts had predicted.

House prices in Perth are expected to rise sharply over the next three years, faster than any other capital city in Australia, experts had predicted.

Creditors of Australia's largest cotton farm, Cubbie Station, will vote today on the bids of two foreign groups to restructure the debt-ridden farm.

Transport operator Asciano Group announced it has secured a contract that will add more than $775 million in revenue over a period of ten years with Anglo American Metallurgical Coal Pty.

The Northern Territory Department of Resources said it is investigating an unleaded fuel leak at the Rio Tinto Alcan mine.

Majority of Australian homeowners are holding on to the idea that more rate hikes would come their way, brushing aside Reserve Bank of Australia’s decision this June to pause for any upward movements with comforting assurance that the cash rates have so far reached their ideal level for now.

AVJennings Ltd said on Friday that it is cooking up a deal to sell the company’s contract building division to Sekisui House Ltd of Japan for roughly $18.5 million but would retain ownership and continued use of its brandname for further development operations.

Environmental services company CO2 Group Ltd announced it will expand its operations into New Zealand in June of this year.