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Australian Business News

News Corp Revenue Drops 22 per cent

TheAUBJ–12 November–News Corp reported first quarter results for Fiscal 2014, with a drop in revenue following major restructure three months ago. Commenting on the results, Chief Executive Robert Thomson said:“Our first quarter as the new News was the beginning of a journey in the dig... Read More

2014 ACT Australians of the Year announced

TheAUBJ–12 November– Chief Minister Katy Gallagher this evening announced neonatal specialist, Associate Professor Zsuzsoka Kecskes, as the ACT Australian of the Year for 2014 at a ceremony at the National Arboretum. “The Australian of the Year Awards recognise the hard work and de... Read More

November 11 marks Remembrance Day

TheAUBJ–11 November–At Remembrance Day services being held across Australia, today we remember the armistice which ended the Great War and the sacrifice of our armed forces in times of conflict. A press release from the office of the Prime Minister reads, “On Remembrance Day we sto... Read More

Melbourne CBD commercial office transaction volumes smashing records

AUBJ-5 November–Melbourne CBD commercial office transaction volumes (above $5 million) could hit $2.25 billion by year end given to date they have already reached $1.8 billion,  the highest total recorded in 25 years. While the physical market conditions remain challenging, investor demand fo... Read More

“The Race that Stops the Nation”

AUBJ–5 November–Emirates Melbourne Cup Day sits at the pinnacle of the Australian racing calendar and is the focal point of the Melbourne Cup Carnival. There’s nothing like being there amongst the 100,000 plus crowd to experience this unique event. It’s an exhilarating day that p... Read More

Values continue to rise in October fuelled by Australia’s three largest cities

AUBJ–1 November–Australian capital city dwelling values increased by 1.3 per cent in October, driven largely by the Sydney housing market as well as significant value growth in Melbourne and Brisbane. The release today of the RP Data and Rismark International October housing market resul... Read More

BHP donates $500k to help bushfire victims

AuBJ – 30 Oct – Top mining company BHP Billiton has donated AU$500,000 to Red Cross emergency response to help people impacted by the recent bushfires in New South Wales, Australia. On top of that, it has vowed to give two dollars for every one dollar donated by its employees. BHP coal president... Read More

Strong Economic Growth set for WA

TheAuBJ—30 October–While Western Australia will remain the fastest growing economy in Australia over the next decade, private and public sector leaders will need to continue to respond carefully to the challenging environment of a state in transition, with the winding down of the constructio... Read More

Rio Tinto sells $1 billion worth of Aus coal assets

TheAuBJ—28 October–Rio Tinto has reached a binding agreement for the sale of its 50.1 per cent interest in the Clermont Joint Venture to GS Coal Pty Ltd, a company jointly owned by Glencore Xstrata and Sumitomo Corporation, for US$1.015 billion. Under the terms of the sale, Glencore Xstrata ... Read More

Perkins wins $50m in new contracts

AUBJ – 28 Oct – Perkins Builders has bolstered its order book with $50 million worth of new contracts across Perth and Bunbury. The projects won include new facilities at the South West Health Campus, Bunbury and Australind high schools, and Eaton Community College. Perkins has also won a $17 m... Read More

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