COMPANIES

iiNet acquiring retail division of AAPT from Telecom NZ

Internet service provider iiNet is set to acquire a division of AAPT from Telecom Corporation of New Zealand Ltd and according to a report by The Australian on Friday, about $60 million would change hands, with Telecom NZ also gearing to sell down 17.4 percent of its iiNet holdings to institutional investors.

Mitchell signs $363m takeover deal

Harold Mitchell has sold Mitchell Communication Group (ASX: MCU), which he founded 34 years ago, to British media company Aegis Group for $363 million. The Australian media mogul will, however, continue to lead the expanded company.

Experts warn - retail may take years to recover

Experts have warned that retail may take years to recover with continual sales over the past year having trained consumers to expect and only accept reduced prices.The warnings come as research group TNS' Discount Retailing Study found that 65% of Australians perceive retailers to constantly have sa...
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TNT opens new depot in East Arm

Freight company TNT announced in a statement today it had launched a new $6 million depot in East Arm, signalling its expanding international business and ongoing commitment to the Darwin region.
Sharon Olalia Jul 29, 2010

Qantas launches next generation check in

Australian airline company Qantas (ASX:QAN) today launched a trial of its all-new Next Generation Check-in system at its domestic terminal at Perth Airport.
Sharon Olalia Jul 29, 2010

Shell may join Woodside-rival Chevron

Oil major Royal Dutch Shell is likely to join Chevron's Wheatstone liquefied natural gas project in competition with Woodside Petroleum's Pluto project.
Sharon Olalia Jul 29, 2010

REX cuts down seat capacity of its Port Lincoln-Adelaide service route

Regional Express Holdings Ltd (REX) (ASX: REX) announced on Thursday that it is set to reduce its seat capacity by 18 percent for the Port Lincoln-Adelaide service route in South Australia, blaming stiffer competition from QantasLink which earlier resumed its flight services on the region.
Erik Pineda Jul 29, 2010

Union says Telstra lay offs attack customer service

Australian telecommunications and media company Telstra (ASX: TLS, NZX: TLS) is continuing with its plans to lay-off the 900 operational employees announced several weeks ago, according to a statement released today by the Communications Electrical Plumbing Union.
Sharon Olalia Jul 29, 2010

Centro wraps up financial arrangements for US operations

Property specialist Centro Properties Group (CNP) (ASX: CNP) said on Thursday that its financial arrangements covering a total of $US2.7 billion or $A3.03 billion of debt in the company’s US operations have been completed amidst the business’ continued restructuring.
Erik Pineda Jul 29, 2010

Lihir boss says new offer still likely

Graeme Hunt, chief executive of Lihir Gold, says it is still possible to better the cash bid worth $9.7 billion by Newcrest Mining.
Christine Gaylican Jul 29, 2010

Lihir boss says new offer still likely

Graeme Hunt, chief executive of Lihir Gold, says it is still possible to better the cash bid worth $9.7 billion by Newcrest Mining.
Christine Gaylican Jul 29, 2010

AMMA confronts issues under Fair Work Act

Queensland's resource and construction industry employers today convened to discuss the latest issues confronting them under the Fair Work Act
Sharon Olalia Jul 29, 2010

NBN completes software installation in record time

The NBN Co. has finished the three initial stages of a primary software installation. The new software systems will upgrade its inventory tracking on fiscal management while the NBN is being built.
Christine Gaylican Jul 29, 2010

Austar’s first-half profit down 42%

Australia's major TV subscription provider Austar United Communications Ltd (ASX:AUN) has reported a 42 per cent drop in first-half profits.
Sharon Olalia Jul 29, 2010

QRC, Opposition commend appointment of gas commissioner

The QRC (Queensland Resources Council) says the state government’s appointment of its first commissioner for LNG will surely help in balancing domestic gas demand and prospects for export.
Christine Gaylican Jul 29, 2010

CHOICE demands parties address consumer issues

Consumer advocacy group CHOICE has challenged the major political parties to declare their hand on a range of consumer issues in the lead up to the Federal election.The group sent letters to the Government and Opposition parties, as well as the Greens, asking them to outline their approach to consum...
Admin System Jul 29, 2010

Powering the world - with butter

A new study by scientists at the American Chemical Society has identified an unlikely new source for raw materials for biodiesel fuels - butter.Researchers report that butter could be used as an eco-friendly feedstock for diesel fuel, a possible new source beyond the current ethanol production.As pa...
Admin System Jul 29, 2010

ABCC wins $1.3m over West Gate Bridge dispute

The Office of the Australian Building and Construction Commissioner (ABCC) has secured a record workplace relations penalty of $1.325 million as a result of a legal proceeding initiated by the ABCC in response to a protracted union demarcation dispute at the West Gate Bridge strengthening project in 2009.
Sharon Olalia Jul 28, 2010

Billbergia seals purchase of Vision tower

Billbergia Group has struck a deal with the liquidators of the Vision tower site at the CBD of Brisbane to buy the site for an unknown amount.
Christine Gaylican Jul 28, 2010

BlueScope and Nippon Steel embark on joint-partnership in developing new steel products

Steel specialist BlueScope Steel Ltd (ASX: BSL) and Nippon Steel Corporation of Japan have agreed to undertake a long-term joint technical partnership in developing next-generation coated steel products as the Japanese company announced on Wednesday via its official online site that products to be manufactured by both firms are aimed for the global building and construction market.
Erik Pineda Jul 28, 2010

Downer EDI reveals $2 billion work project deals with BMA

Engineering firm Downer EDI Ltd (ASX: DOW) announced on Wednesday that it has sealed contract agreements amounting to about $2 billion with the BHP Billiton-Mitsubishi Alliance, which cover work projects at Goonyella Riverside and Norwich Park mines, both located at the Bower Basin in central Queensland.
Erik Pineda Jul 28, 2010

IAG posts poor performance for fiscal year

Insurance Australia Group is the most recent insurance firm to report a poor performance for the previous fiscal year, as the season for reporting profit has turned sour for investors in insurance shares.
Christine Gaylican Jul 28, 2010

Another annual loss for Alesco

Australian industrial brands business Alesco Corporation (ASX: ALS) has posted another annual net loss and remains cautious about the coming 12 months.
Sharon Olalia Jul 28, 2010

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