Nev Power, CEO of Fortescue Metals Group, says the firm's focus on cost cutting and a weak Aussie dollar helped the miner to offset falling iron ore prices. He also explains what that means for the firm's dividend payout for 2015.» Read More
Australia's centre-left Prime Minister-elect Kevin Rudd named Labor's first cabinet in 11 years on Thursday, appointing former academic Wayne Swan to the key economic management job as treasurer.
Australian business investment unexpectedly fell last quarter as the booming mining sector took a breather, though firms still upgraded already ambitious spending plans for coming months.
Symbion Health said on Tuesday that a planned $2.4 billion takeover led by Healthscope would not proceed after Australian tax authorities disallowed tax relief on parts of the deal.
There wasn't much doubt by the end of last week that come late Saturday evening, Australia would indeed see a new Prime Minister and a Labor win. But few suspected the bloodbath, John Howard's ruling Coalition government of 11 solid years would suffer.
Shares in Australian health sector takeover target Symbion Health and its suitor Healthscope were placed on trading halts on Monday, ahead of a market announcement.
After more than 11 years in power, Australia's Prime Minister John Howard is now fighting for his political life as opinion polls continue to point to a Labor victory.
Australia's Symbion Health Ltd said on Friday Primary Health Care Ltd had lost a legal challenge against it over Symbion's proposed A$2.8 billion (US$2.4 billion) tie-up with Healthscope Ltd.
Australia's Publishing & Broadcasting said it was close to agreeing a major North American gaming acquisition, and was still considering two other deals.
AWB, Australia's embattled main wheat exporter, reported a 53 percent fall in full-year net profit on Wednesday, hit by a severe drought, but said the outlook for agribusiness in Australian was positive.
Eurofer, the lobby group for the European steel industry, said on Tuesday it will ask the European Commission to block BHP Billiton's plans to buy rival Rio Tinto due to competition concerns.
Building materials maker James Hardie Industries reported a 32 percent fall in second-quarter profit, hit by a drop in home building in the United States, and said it was comfortable with the bottom end of analysts' full-year forecasts.
Mining giant BHP Billiton, whose multi-million-dollar takeover plan has been rejected by Rio Tinto's management, may consider taking an offer directly to Rio's shareholders in the future, BHP's chief said on Saturday.
Australian iron ore prospector Fortescue Metals Group on Friday denied media speculation a Chinese company would take a stake in it, sending its shares down as much as 3.9 percent.
China National Offshore Oil Corp has been offered Royal Dutch Shell's oil business in Australia's North West Shelf oil and gas project, The Australian newspaper reported on Thursday.
Australian oil and gas producer Woodside Petroleum cut its 2008 production forecast by up to 20 percent on Thursday, citing recent asset sales and slow start-ups at new projects, driving its shares down as much as 5 percent.
Qantas Airways, Australia's largest airline, on Wednesday agreed to buy up to 188 new narrow-body planes worth more than $12 billion at list prices to defend its domestic routes and expand into Asia.
Palmary Enterprises has upped its offer for Australian manganese miner Consolidated Minerals to $964 million, in its latest bid to win a long-running takeover battle.
Macquarie Group, Australia's biggest investment bank, reported a 26 percent rise in second-quarter profit, helped by strong growth in Asia and takeover activity, but its shares fell 5 percent on a cautious outlook.
Australia's central bank on Monday raised its forecasts for underlying inflation to above its 2 to 3 percent comfort zone, strongly suggesting that further increases in interest rates might be needed to restrain price pressures and cool the red-hot economy
Australian infrastructure firm SP Ausnet plans to raise about $2.7 billion in an institutional share placement to help fund its purchase of $7.7 billion of assets from energy firm Alinta.