More From Erik Pineda
Swan downplays role of govt spending on RBA policy rates
Federal Treasurer Wayne Swan shot down suggestions coming from a board member of the Reserve Bank of Australia (RBA) that the country’s policy rates have spiralled upward because of the government’s propensity for too much expenditure.
Jan 07, 2011
Harvey remains firm on online GST, asks co-retailers for more active role on tax campaign
Retail mogul Gerry Harvey remains committed on his stand to GST on Australian consumers’ internet-based shopping despite the backlash spawned by his campaign.
Jan 07, 2011
Xstrata admits fire in NSW mine site, launches probe
Giant mining firm Xstrata has admitted that a fire broke out on its Hunter Valley coal mine site in New South Wales, forcing the miner to evacuate some 55 workers from down below and halt all activities until the cause of fire has been established.
Jan 07, 2011
Australian auto industry reaches 1M car sales for third time in 2010, records second best-ever year
The Australian automotive industry rolled into its second biggest year ever in 2010 as more than one million units of brand new vehicles hit the country’s roads with industry experts expressing confidence that gains would be sustained in the current year, at least in a moderate way.
Jan 07, 2011
Woodside denies talks of a pipeline from floating LNG platforms into East Timor
Woodside’s proposed billion-dollar Greater Sunrise floating liquefied natural gas (LNG) platforms in the Timor Sea remain locked in a controversy as the East Timor government maintains its position that a processing plant be built inside the country instead of the planned gas hub.
Jan 03, 2011
Gillard gives out federal reliefs for Queensland flood victims
The federal government is extending its assistance on Queenslanders affected by the heavy rains and flooding that deluded the state, the worst flooding incident seen in Queensland for almost half a century, according to experts.
Jan 03, 2011
BHP forecasts growth on its petrol division, guns for possible acquisitions
Giant global resource firm BHP Billiton Ltd is aiming to sustain the remarkable growth seen on its petroleum division over the past year and prowling the market for possible acquisition target is its way of further ramping up production outlook for some years ahead.
Jan 03, 2011
Gillard calls new NBN issue as dirty politics coming from Abbott
Prime Minister Julia Gillard scored the opposition for again fusing politics on the national broadband network project and this time around by dragging the names of two senior NBN Co executives to the alleged bribery scandals that occurred in Asia and Latin America.
Jan 03, 2011
Porsche, Ferrari fast becoming new art of investments for the rich
Investors jittery of the volatile equity markets appear to increasingly train their attention on an unlikely but viable investment vehicle.
Dec 29, 2010
Extreme weathers in Queensland and NSW could rack up billions of losses
The downpours and flooding sweeping through the regions of Queensland and New South Wales would inevitably lead to losses that could cost the national economy some $7 billion, according to Australian economists.
Dec 29, 2010
QR National admits losses due to heavy rains and floods in Queensland
The heavy rains and flooding currently denuding much of Queensland would definitely impact on QR National Ltd’s earnings but the rail operator is holding back its estimates until actual assessments are checked in.
Dec 29, 2010
China’s rare earths export cuts boost Aussie firm Lynas global outlook
China’s decision to reduce its export quota of rare earths boosted Lynas Corp’s prospect in the international market for the priced minerals and pushed up the emerging producer’s shares value in Australian market by at least 13 percent.
Dec 29, 2010
Tata Steel open to work with Rio Tinto or any firm set to acquire Riversdale
Indian firm Tata Steel is ready to work with any firm poised to acquire coal miner Riversdale Mining Ltd, where the giant South Asian steel company holds a 24 percent interest.
Dec 29, 2010
Leighton takes in Indian partners for its South Asian operations
Construction giant Leighton Holdings Ltd found a viable ally for its Indian business interests on Welspun Corp Ltd, which recently acquired a 35 percent stake on the Australian contractor’s operations in the subcontinent for roughly $103 million.
Dec 29, 2010
Mercedes Benz posts banner year, rolls out 1000th AMG model in December
Germany’s Mercedes Benz continue to enthral Australian luxury car aficionados as the carmaker rolled out its 1000th unit this year and just a day after Christmas from the global company’s AMG Performance Studio.
Dec 27, 2010
Western Australia records country’s first GM contamination
Western Australia now earns the distinction as the country’s first site of genetically modified (GM) canola contamination, with a farm in the state’s Great Southern region receiving confirmation from WA authorities that its organic produces could be laced with contaminants.
Dec 27, 2010
Vodafone’s poor services attract class lawsuit from affected customers
Seemingly unmindful of its mobile services woes, Vodafone pours million on advertisements that the telco hopes would lure new customers in light of the criticisms it now gets from disgruntled clients for apparent promises it could not deliver.
Dec 27, 2010
Rio Tinto faces spectre of rival bids from Brazil and India for its Riversdale acquisition proposal
India’s burgeoning economy exposed the inability of its local economy to adequately fuel its accelerating expansion and some Indian firms are devising ways to meet the needs of the country’s power-hungry industrial activities.
Dec 27, 2010
Rio Tinto gets green light on initial expansion work in WA’s Pilbara region
Global mining giant Rio Tinto Ltd won the official approval of the Western Australian government for proceeding on the initial phase of its $3.9 billion iron ore expansion in the Pilbara region.
Dec 23, 2010
ASIC scores mediocre company reports
Australian companies appear to be concealing the more pertinent information when they file their annual business reports as the Australian Securities and Investments Commission (ASIC) observed on its review that corporate declarations are lacking in quality.
Dec 23, 2010
MRRT revenue shortfalls could lead to budget black hole, says the Coalition
The budget surplus heralded by the federal government for fiscal 2013 may not be realised after all following reports that the targeted $7.4 billion revenue from the minerals resource rent tax could suffer considerable shortfalls.
Dec 23, 2010
ACCC calls Power Balance a scam
Popular athletes wear and endorse them purportedly to enhance their competitive skills but Choice merely labelled the rubber wristband as a waste of money and now Australia’s consumer watchdog calls the product as nothing but a scam.
Dec 23, 2010
Banks hit back at ASIC over planned Storm Financial lawsuits
Banks targeted by the country’s securities regulator for legal proceedings have lashed out on the agency, claiming that the lawsuits are unwarranted since their actions on the Storm Financial issue were merely procedural.
Dec 23, 2010
Telstra reports of $138 write-downs for its Octave business in China
Giant telecommunication firm Telstra Corporation is writing down some $138 million in carrying value of its Octave business operation in China, which mainly deals on giving out technical services and providing phone content to mobile platforms.
Dec 23, 2010
Heathrow Airport chaos forces delays on Qantas and other airlines’ flights
Severe weather systems hovering over the European continent spawned unfavourable flying conditions on its vast area’s airport terminals, including London’s Heathrow Airport where two Qantas Airways flights coming and bound for the terminal are suspended on Wednesday.
Dec 23, 2010
Premier Bligh insists on the stability of her leadership in Queensland
Queensland Premier Anna Bligh denies the existence of any challenges to her leadership of the state Labor Party, apparently convinced that politics is the last thing in the minds of people especially during the holiday season.
Dec 22, 2010
Sino-Aussie trade partnership grows further in the last 10 years
The trade relationship of Australia and China continue to bear fruit as it registered an annual growth of 8.8 percent in 2010, en route to whopping trade value of $90 billion, according to the latest report of the Department of Foreign Affairs and Trade.
Dec 22, 2010
Australian economy posts firm growth in October, signals slower expansion ahead
The Australian economy moderately grew in October but economists expressed optimism that the firm movement signals calculated expansion and not deceleration.
Dec 22, 2010
ASIC pushes through with legal suits against banks involved in Storm collapse
The Australian Securities and Investments Commission (ASIC) rolls into action its legal suits against parties allegedly involved in the $3 billion Storm Financial meltdown following the deadline’s lapse for banks to strike compromise deals with up to 14,000 investors affected by the collapse.
Dec 22, 2010
Telstra’s NBN deal with Feds suffers delay but telco’s outlook remains optimistic
Sealing the deal on the national broadband network project appears to require more time than first thought as Telstra Corporation informed its shareholders that its discussions with the federal government has been delayed.
Dec 22, 2010
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