BUSINESS

AMP Limited reiterates that it will continue to pursue a merger bid for AXA Asia Pacific Holdings.

Unemployment rate remained steady at 5.4 per cent in April, according to the Australian Bureau of Statistics (ABS).

Jetstar Airlines will seek an expansion in the Asian market by offering long-overhaul flights out of Singapore to Australia, North Asia, and in European countries starting this year.

The Federal Government on Wednesday ruled out an Emission Trading Scheme (ETS) and a $130 million home insulation plant in New Castle, New South Wales.

Phone carrier Optus reported an annual net profit up by 16 per cent. The Singapore Telecommunications Ltd subsidiary posted $676 million net profit for fiscal 2010.

China's Citic Pacific announced it has been hit by a cost blowout and has to pay an extra $US835 million to its contractor in its Australian iron ore project.

Rio Tinto chief executive Tom Albanese joined attacks against the government's planned super-profits tax saying that the text measures would reduce Australia's competitiveness and hurt investments.

Jetset Travelworld Ltd has announced plans to merge with Stella Travel Services Holdings as respective boards of the two travel companies have agreed on a conditional merger deal with Qantas Airways, Jetset’s majority shareholder, giving its thumbs up for the planned merger.

LCH.Clearnet Ltd., the largest independent clearing house group, has cleared the first-ever 50-year interest swap trades (IRS) through its SwapClear offering.

Curtain manufacturer and retailer Kresta Holdings Ltd has reported Wednesday of an expectedly higher full year 2010 result following a five percent surge of up to $29.5 million on its third quarter sales for this fiscal year alone.

To prevent the so-called 'May 6 rout" from happening again where the crash on Wall Street markets caused a global ripple effect, U.S. regulators Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), announced the creation of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory issues.

BTIG LLC, a broker dealer focused in institutional trading and related brokerage services, has announced its expansion into fixed income and equity capital markets. The move is seen to allow issuers a variety of solutions across their entire balance sheet and complements BTIG's existing lines of business, while leveraging its distribution platform and the deep experience and relationships of its sales and trading professionals.

New data released by the Australian Bureau of Statistics on Wednesday showed that the overall volume of owner-occupied housing slid to its lowest level since April 2001 as housing finance commitments declined by 3.4 percent in March to 48,260 following the government’s withdrawal of its stimulus suite grants for first home buyers.

The Australian gold stocks had inspired a beehive trading on Wednesday following the precious metal’s spot price record spikes in US trading overnight, with the spot gold price reaching as high as $US1,234.55 per fine ounce in the US session.

CSR Limited confirmed on Wednesday that it performed decently at 66 per cent in its annual result for the year ended March 31. The firm did not specify any expected figures for the following year.

Transurban Group turned down a $7.2 billion takeover bid from its three Canadian shareholders, stating the offer undervalued the company.

Energy utility company SP AusNet has reported that its full year net profit after tax (NPAT) jumped by 42.3 percent or $209 million in the March quarter as it cited that boosted activity from its new commercial arm, price increases and additional clients fuelled the recorded gain.

Shipbuilder Austal confirmed on Wednesday it will have a total transformation as it discontinues its Tasmanian shipyard operations and terminates 116 employees.

Manila Water Company (MWC) confirmed it engaged in a Japanese association to acquire an Australian wastewater treatment and desalination firm for $A225 million.

Xstrata chief executive officer Mick Davis said the Australian government's proposed tax measure is the "biggest assault" in the mining industry.

Paper maker Amcor Ltd is set to merge with Amcor Packaging Distribution and eventually combine all its Australasian operations into Amcor Australasia and Packaging Distribution, which will be based in Melbourne and set to be headed by US-based Nigel Garrard.

Transfield Services Infrastructure Fund (TSI) sold its 70-megawatt Mt Millar wind farm in South Australia to New Zealand-state owned Meridian Energy for $191 million.

Macarthur Coal Ltd announced Tuesday that it is "not inclined" to accept the reduced bid of Peabody Energy Corp.

Samsung Group announced Tuesday that it is set to invest a total of $US20 billion in healthcare and green energy sectors by 2020, which would create thousands of new jobs as company chairman Lee Kun-Hee hinted that governments around the world are channelling billions to sustainable energy over concerns on the planets dwindling resources.

The International Monetary Fund reported that Latin America and the Caribbean are experiencing better-than-expected economic recovery but at different speeds across countries.

Australians who want to get hold of Apple's latest electronic gadget, iPad, will have the opportunity to get hold of this latest device on May 28. In a statement, Apple said the iPad would be available in Australia, Canada, France, Germany, Italy, Japan, Spain, Switzerland and the UK before the end of this month.

Transport company Asciano Group has revealed Tuesday that it is set to book impairment charges of up to $1.1 billion by the second half of fiscal year 2010 following recommendations from its internal audit and risk committee, even as the company has reaffirmed its earning guidance of close to $700 million for the full year 2009/10.

Transfield Services Infrastructure Fund has announced Tuesday of plans for capital restructuring which involves a capital raising of up to $110 million and selling its Mt Millar Wind Farm for $191 million, as it added that TSI Fund is also set to extend its corporate debt maturity to May 2015.

Insurance Australia Group (IAG) warns its investors to prepare for unsolicited, undervalued offers for their shares.