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Australian Business News

One of Melbourne’s greenest office building sold for $33 million

TheAuBJ–25 October–Melbourne’s Environment Protection Authority’s head office at 220 Victoria Street in Carlton has been sold to the Impact Investment Group for $33.55 million. The Impact Investment Group, established early 2013, bought the building from its previous owner, D... Read More

Wesfarmers First Quarter Results Show Strong Retail Growth

TheAuBJ—24 October–Wesfarmers Limited today announced its retail sales results for the first quarter of the 2014 financial year. Managing Director Richard Goyder said he was generally pleased with the sales results, in particular the good performances of Coles, Bunnings, Officeworks and Kmar... Read More

Government releases draft bill to axe MRRT

AUBJ – 24 Oct – The Government has released a draft bill to axe the mining tax, in line with its pre-election promises. The Minerals Resource Rent Tax (MRRT) has met strong opposition from both mining companies and new Prime Minister Tony Abbot since former Labor PM Julia Gillard brought it in. ... Read More

Chevron acquires two permits offshore South Australia

AUBJ – 23 Oct – US corporation Chevron (NYSE: CVX) has acquired two new exploration permits in the Bight Basin, offshore South Australia. The energy giant has committed $486 million to developing Blocks S12-2 and S12-3, which span more than 32,000 square kilometres. Chevron Australia managing di... Read More

Major reform for WA ports

AUBJ – 23 Oct – A major reform package for Western Australia’s ports will allow the ports to operate 24 hours a day, as well as remove the entitlement of major port customers to a seat on the port authority boards. Legislation introduced today will consolidate seven regional port authoriti... Read More

Onshore Browse development unviable claims Shell boss

AUBJ – 23 Oct – Shell Australia boss Andrew Smith has defended his company’s walkout on James Price Point stating the proposed gas hub had become commercially unviable as new sources of gas supply emerged and competitors worked to bring costs down. Speaking before the state parliament&... Read More

Hartleys claims “outstanding” performance

AUBJ – 23 Oct – Perth-based stockbroking firm Hartleys has said today that its net profit for the year up to 30th June was $9.6 million, down slightly from a $10.1 million net profit in the previous financial year. Revenue for the financial year was $49.4 million, up from $48.3 million in FY... Read More

NZ’s LanzaTech awarded top 50 Hottest Companies in Bioenergy

The AuBJ–23 October–LanzaTech, a producer of low-carbon fuels and chemicals from waste gases, has been ranked #2 in Biofuels Digest’s annual list of the 50 Hottest Companies in Bioeenergy and #4 in its 30 Hottest Companies in Biobased Chemicals. Biofuels Digest is the most widely read ... Read More

BHP Billiton Commits A$10 Million to Australian Indigenous Scholarship Program

The AuBJ –22 October– BHP Billiton has committed a further A$10 million to the Australian Indigenous Education Foundation (AIEF) to fund an additional 90 secondary and tertiary scholarships for Indigenous students in Australia. Building on the success of the existing three-year partnership w... Read More

Murray Goulburn announce takeover offer for Warrnambool Cheese and Butter

AuBJ–18 October–Murray Goulburn Co-operative Co. Limited (Murray Goulburn) today announced that it has made a proposal to acquire all the issued shares in Warrnambool Cheese and Butter Factory Company Holdings Limited (WCB) via an off-market takeover offer for $7.50 cash per share (the O... Read More

Rio achieves record iron ore production in Q3

AuBJ – 16 Oct – Anglo-Australian mining giant Rio Tinto (ASX, LSE: RIO) produced and sold a record amount of iron ore in 2013’s third quarter. The miner shipped 68 million tonnes of iron ore over the past three months – 11% more than in the second quarter. Copper production also increased, b... Read More

Forrest pledges $65m to WA universities

AuBJ– 15 Oct – Fortescue Metals Group (ASX: FMG) chairman Andrew Forrest has made Australia’s largest single philanthropic donation to Western Australia’s universities. Of the total AU$65 million he pledged, $50 million will go towards funding scholarships and postdoctoral fellowships across... Read More

Queensland cuts wait time for exploration permits

AUBJ – 14 Oct – The state of Queensland in – often criticised for its time-consuming mining regulations – has vowed to cut the time mining companies have to wait to secure exploration permits. An overhaul of the approval process will see companies formally notified within 90 days of the appl... Read More

Westpac to acquire select businesses of Lloyds Banking Group Australia

TheAuBJ–11 October–Westpac today announced it has entered an agreement to acquire Lloyds Banking Group’s Australian asset finance business, CFAL, and its corporate loan portfolio, BOSI, for $1.45 billion. This follows Lloyds’ decision to focus on its UK business. Westpac Group Chief ... Read More

ACT Labor Government takes steps towards legalising same-sex marriage

TheAuBJ–11 October–Attorney-General, Simon Corbell, today introduced the Marriage Equality Bill 2013 into the ACT Legislative Assembly, paving the way for same-sex marriage to be legalised in the ACT. Mr Corbell said it was a proud moment for the ACT Labor Government, which has a strong ... Read More

Higgs boson Scientists win Nobel Prize

The AuBJ–9 October– François Englert and Peter W. Higgs are jointly awarded the Nobel Prize in Physics 2013 for the theory of how particles acquire mass. In 1964, they proposed the theory independently of each other (Englert together with his now deceased colleague Robert Brout). In 20... Read More