AAP

26 Jul 2011

Downer secures $400m Xstrata Coal contract

Engineering firm Downer EDI has secured a contract worth more than $400 million for work on Xstrata Coal's Ravensworth North coal project in the Hunter Valley of New South Wales.

26 Jul 2011

Labor Party stalwart Ron Davies dies

Western Australian Labor stalwart Ron Davies, a man described as the "ultimate local member", has died aged 85.

26 Jul 2011

Skilled workers scarcer in latest year

Employers found it hard recruiting skilled workers in the past financial year, though not as hard as it was just before the global financial crisis, government data shows.

26 Jul 2011

$A reaches 12-week high as $US tumbles

The Australian dollar broke through 109 US cents to a 12-week high, benefiting from weakness in the US dollar as uncertainty over America's debt crisis grows.

26 Jul 2011

RBA says consumer hibernation will end

The current trend for household income to outpace consumer spending is no less sustainable than the opposite pattern - spending rising faster than income - seen in the decade beginning in the mid-1

26 Jul 2011

Westpac glitch causes payment delays

A technical glitch in Westpac's system has caused delays in payments for customers across Australia's four major banks.

26 Jul 2011

Gen-Y wants a nest egg rather than a nest

Generation Y is putting aside their aspirations to own their dream home and instead are looking to enter the market through an investment property.

26 Jul 2011

Court ruling boosts union power in Pilbara

A landmark victory in the Federal Court looks set to give unions more power to bargain on behalf of workers at Rio Tinto and BHP Billiton iron ore operations in the Pilbara.

26 Jul 2011

BHP gets US shale gas takeover approval

BHP Billiton has received approval from the US competition regulator for its $US15.1 billion ($A14 billion) takeover of shale gas company Petrohawk Energy.

26 Jul 2011

Stocks up on US debt stalemate hopes

Australian stocks opened higher on hopes that the US government would reach agreement on raising the country's debt ceiling by the August 2 deadline.

26 Jul 2011

Debt cap deadlock sends US stocks lower

The Washington deadlock over raising the US debt ceiling sent stocks tumbling on Monday, as the August 2 date to avoid a government debt default grew closer with no deal in sight.

26 Jul 2011

Today's Business Headlines

Unions claim victory in Pilbara – The Fin; Study shows giants' tax break – The West; CFMEU sets up fighting fund – The Fin; States in call to stall new OHS laws – The Aus; Only a 'trickle' of Indon beef - The West

25 Jul 2011

US default fears push stocks lower

Australian shares closed sharply lower on concerns the US government may default if an agreement cannot be reached on raising its debt ceiling.

25 Jul 2011

Quick US deal in everyone's interest: Swan

Federal Treasurer Wayne Swan says it will be in everyone's interest for a speedy resolution of US budget issues.

25 Jul 2011

Orica looks to higher profit in 2011

Explosives and fertilizer maker Orica has reaffirmed that profit in fiscal 2011 will be higher than that reported in 2010.

25 Jul 2011

Premier to close up to 50 stores

The company behind clothing stores Just Jeans, Jay Jays, Jacqui E and Portmans has downgraded its earnings outlook and announced the closure of as many as 50 underperforming shops.

25 Jul 2011

Carbon tax 'puts tourism industry at risk'

The carbon tax could force thousands of tourism businesses to close and cost tens of thousands of jobs, an industry group says.

25 Jul 2011

Ad blitz 'behind bounce on carbon tax'

A poll suggesting voters are warming to Labor's carbon tax is the result of a taxpayer-funded advertising blitz, the federal opposition says.

25 Jul 2011

PPI rise confirms short term CPI pressure

A rise in producer prices confirms there is pressure on consumer prices, at least in the short term.

25 Jul 2011

FMG can endure $US70/t ore price: Power

Fortescue Metals Group will remain profitable if the iron ore price slumps by $US100 a tonne, new chief executive Neville Power says.

25 Jul 2011

AACo expects profit despite live trade ban

Beef producer Australian Agricultural Company (AACo) does not expect the live cattle trade to Indonesia to resume quickly, but is still expecting a profitable year.

25 Jul 2011

GrainCorp acquires German maltster

Grains marketer and maltster GrainCorp has boosted its malting operations, agreeing to buy maltster GermanMalt GmbH & Co KG for an enterprise value of about $77 million.

25 Jul 2011

Market opens lower on soft US lead

Australian stocks opened weaker, as weakness among industrials and energy companies dragged the broader-market lower after a mixed lead from offshore.

25 Jul 2011

Mixed earnings hold back US stocks

Mixed earnings reports -- with General Electric and McDonald's beating expectations, while Caterpillar fell short -- held back US markets on Friday, though Microsoft gave Nasdaq a solid boost.

Government 25 Jul 2011

$A higher, US announcement expected

The Australian dollar was trading higher, as traders await an announcement from the US on the ongoing debt ceiling negotiations.

25 Jul 2011

Today's Business Headlines

Markets on a knife-edge – The Aus; Investors face tough profit season – The Fin; Murchison looks for deal to save company – The West; Shell move clouds Woodside's Sunrise – The Fin; Miners 'soaking up limited resources – The Aus

22 Jul 2011

Politicians criticise R 18+ for games

Some Western Australian politicians say introducing an adults-only classification for games will expand moral boundaries and make it difficult to monitor games children play.

22 Jul 2011

Shares up on euro zone debt deal

The Australian share market closed more than one per cent higher, bolstered by a new deal in Europe to manage the sovereign debt crisis.

22 Jul 2011

ACCC questions Foxtel's Austar bid

Shares in Austar United Communications plunged 18 per cent after the competition regulator said Foxtel's takeover bid for the regional pay television provider could substantially lessen competition

22 Jul 2011

Broadband users to pay comparable prices

Consumers will pay comparable prices for entry level access to internet services on the National Broadband Network, but superfast connections will cost up to $2,280 per year.

22 Jul 2011

Figures indicate record terms of trade

Import and export price figures show the terms of trade most likely hit a new high in the June quarter.

22 Jul 2011

Swan tells Europe and US to get on with it

Treasurer Wayne Swan says the sooner Europe and the United States resolve they debt issues, the better it will be for everybody.

AAP

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