BUSINESS

Conquest Mining Ltd has announced its plan to acquire North Queensland Metals (NQM) through an off-market takeover offer worth $58 million.

Finance Minister Wayne Swan is hoping to entice world financial leaders on the country's resource super profits tax during this week's G20 summit.

Tata Motors of India has announced on Wednesday that the world’s cheapest car, the Nano, would again started rolling out from its new western India plant following the company’s forced desertion of its near-completed factory in Singur, West Bengal which was marred by violent land ownership dispute in 2008.

Leighton Holdings Ltd announced its subsidiary, Leighton Asia, has secured a $273 million contract to develop and operate a coal mine in western Mongolia for Mongolia Energy Corporation (MEC).

Swiss mining giant Xstrata announced it has suspended $586 million expenditures on its Wandoan Coal and Ernest Henry underground copper projects in Queensland due to the planned resources super profits tax (RSPT).

Fair Work Australia has announced today that minimum wage will increase by $26 a week, pushing the minimum weekly pay to $569.90 while minimum hourly wage has been set to $15.

West Australia's mining lobby is continuously pressuring the Federal Treasury officials to revise the resources super profits tax as it will damage the industry.

Shares in crane operator boom Logistics Ltd soared in early trading on the Australian Securities Exchange (ASX) following the announcement that Boom is a target of a $240 million takeover proposal.

Environment Protection Authority (EPA) has cancelled the licence of Mobil Refining Australia Pty Ltd following poor performance at its Altona site.

Federal Treasurer Wayne Swan is done battling out with Australian mining leaders on the resources super profits tax and took its fight now in China.

One resource company is not afraid of continuing its explorations and existing projects in North-West Queensland despite the plan for the Federal Government to push through with the resources super profits tax.

Chief advisor on major building projects of Prime Minister Kevin Rudd has advised the government to restart its resource tax from scratch and provide proper consultations with the mining industry.

Brazilian Mining giant Vale S.A. confirmed it is exercising its option to acquire the 24.5 per cent share of Aquila Resources in the Belvedere coal project in Queensland.

Virgin Blue is set to overhaul its operations in a bid to re-establish the airline as a corporate-focused airline and double its share in the domestic corporate market share.

The Hartford Mutual Funds today introduced three new funds. The Hartford Global Real Asset Fund and The Hartford Global All-Asset Fund offer investors global exposure at a time when global economies are changing rapidly and there is expanding demand for alternative investments.

Tiger Resources Ltd announced it has entered into agreements to raise $21.85 million to complete the funding for the Stage 1 Development of its Kipoi Project.

TFS Corporation launched its inaugural native Australian Sandalwood Project for retail investors and appointed WA Sandalwood Plantations Pty Ltd to be its plantation contractor.

Shareholders of Perth-based Rusina Mining NL approved the scheme of arrangement for the planned merger between Rusina Mining and UK-based European Nickel PLC.

The time has come for Australia’s mid-year sale as retailers offer big price slashes in hopes of getting the elusive attention of shoppers turned away by consecutive rate hikes with Australian National Retailers Association (ANRA) chief executive Margy Osmond admitting that consumers would shy away from stores unless bargain finds are on the shelves.

Cazaly Resources announced it has finalised a financing facility and off-take arrangement for its Parker Range iron ore project.

Citigroup Inc has announced Tuesday the closure of 330 branches of US consumer finance business in its continuing campaign of company restructuring that would also lead to job separations of up to 600 employees across the 48 states.

The New South Wales Premier Kristina Keneally has acknowledged she failed to declare her free airline upgrades for her children during her US trip in 2008.

The Australian Bureau of Statistics (ABS) said today that the country’s gross domestic product jumped by 0.5 percent in the first three months of 2010 and further grew by 2.7 percent in the year leading to March, thanks to sustained government spending that has substantially propped up the local economy.

West Australian mining leader and Fortescue Metals chief Andrew Forrest has raised stakes in the debate over the new mining tax, stating that Treasurer Ken Henry said privately the tax will not take effect if it was revised.

The Federal Government and key mining leaders sat down today to compromise over Canberra's resource super profits tax and stop trading insults through media that have hurt local markets and investors.

The Tasmanian Government on Wednesday has brushed off attacks on its economic credentials when it released its statement on the latest economic data.

The Prime Minister is prepared to deal directly with senior mining leaders over the controversial resource super profits tax to halt a public brawl between the industry and the government.

American hospital operator Tenet Healthcare Corp, the second-largest publicly traded hospital in the US, confirmed reports it is one of the bidders for Australian hospital operator and pathology services provider, Healthscope Ltd.

IDS Group (IDS), the global specialist investment administrator, has partnered with LC Abelheim (LCA), a Mauritian based Management Company to offer fund administration to the Indian Ocean region.