BUSINESS

The Australian Competition and Consumer Commission (ACCC) has announced today on its official website that Mitsubishi Motors is set to recall up to 42,525 units of Triton utes citing potential problems on the vehicles’ suspension bolts.

IT service provider ASG Group has announced the acquisition of IT consulting firm Capiotech for $30 million.

Moody’s said in a report released on Tuesday that the Australian airport sector’s economic outlook remains stable and added that stiff price competition among airlines and strong business activities should encourage further passenger load growth.

Apple has announced that iPad sales have topped two million in less than 60 days since its launch on April 3. Apple began shipping iPad in Australia, Canada, France, Germany, Italy, Japan, Spain, Switzerland and the UK this past weekend. iPad will be available in nine more countries in July and additional countries later this year.

US Federal Reserve Chairman Ben Bernanke urged on Monday members of the Group of 20 world powers to closely coordinate financial reforms in its aim to strengthen the global economy as he leaves note that governments’ international cooperation is a must in overhauling market rules following the global financial crisis.

Cazaly Resources Ltd announced the finalisation of a Memorandum of Understanding (MOU) with HWE Mining Pty Ltd for the development of its Parker Range iron ore project in Western Australia.

Hospital operator and pathology owner Healthscope has received two new takeover bids that values the company at $1.84 billion, which may challenge the bid of private equity consortium Blackstone Group.

Australian resources and investment company Cape Lambert Resources Ltd announced that it has completed the $315 million sale of its Lady Annie mine in Queensland to China Sci-Tech Holdings Ltd.

Ranked as the fastest for the past eight years, the Australian manufacturing growth fell down in May for the first time as new orders slowed following the central bank's decision to boost its interest rate for the sixth month since October.

A financial analyst said on Tuesday it is likely that a large company may be pushing for a takeover bid for Tasmanian timber company, Gunns.

Index reports have shown that home prices in April went for a halt with some capital cities citing some falls and others barely made it on the marginal gains.

National Australian Bank has agreed to put on hold its exclusive $12 billion acquisition of AXA Asia Pacific on three weeks.

Cape Lambert Resources Ltd requested for trading halt of its share while it settles the sale of its Lady Annie Project in Queensland to China Sci-tech for $135 million.

Cougar Energy Ltd has announced Monday that it sealed a deal with China’s Inner Mongolia Qi De Investment Co Ltd to jointly-develop an underground coal gasification (UCG) project site deep in the Inner Mongolia region of China.

After more than a year of property price growth, signs are starting to show that the residential property boom is slowly grinding to a halt with most major cities around Australia posting either declining or moderate growths.

Corporate giant Wesfarmers Ltd said yesterday that the federal government’s proposed resources super profits tax could hurt its operational value in the coal sector as chief executive Richard Goyder stressed that it would be hard to estimate the new tax’s actual financial impact on the company.

New figures released by the Australian Bureau of Statistics (ABS) on Monday showed that Corporate Australia has experienced a windfall in the first quarter of 2010, amassing a total of $57.2 billion while companies’ gross operating profits jumped by 3.9 percent in the March quarter.

Shares in Cazaly Resources Ltd have been placed in a trading halt over the company's Parker Range iron ore project in Western Australia.

Qantas Airways Ltd and Tourism Australia announced a new three-year partnership worth $44 million to market Australia internationally as a tourist destination.

Following some pick ups early this year, luxury may be back in style as consultancy firm Bain & Company said Sunday that the luxury goods industry sales in 2010 would grow by four percent to 158 billion Euros or $A229.78 billion with much of the sales spikes to be seen within the first half of the year.

Senetas Corporation, known for its information technology services, was unsuccessful in renewing a contract from Telstra Corporation. However, the company is optimistic the revenue loss will not affect its financial year.

Sigma announced it has entered into a confidentiality agreement with Aspen Pharmacare Holdings Ltd, providing access to the company's due diligence information.

The Australian Securities Exchange privately questions Virgin Blue after it revealed its shocking profit downgrade in less than a month.

Healthscope announced it has received two additional indicative and non-binding proposals to acquire all of the company's issued capital for cash consideration by scheme of arrangement at a price of $5.80 per share.

The $7.7 billion Gladstone liquefied natural gas (GLNG) project of Santos and Petronas in Queensland is expected to create a huge number of jobs for the region.

Local unions are angry towards Premier Anna Bligh for pushing for a sell-off of State Government assets, which includes the Queensland Rail's coal network.

Queensland Premier Anna Blight told media on Monday that direct air travel from Brisbane and China will strengthen the tourism industry for both countries.

Hundreds of childcare centres formerly operated by the collapsed ABC Learning group will be turned over to non-profit consortium today.

Asian equities extended their global rallies that help buoyed the Australian and New Zealand dollars. At the close of Friday's trading session, the Australian dollar was poised for its first five-day advance in more than a month and the New Zealand dollar appears to gain for the first time in three weeks.