The Kerry Stokes-controlled Seven Group Holdings has agreed to sell its wireless broadband business to Singapore Telecommunications' Australian unit Optus for $230 million.
A joint venture including Leighton subsidiary Thiess has won a $500 million contract to build storage tanks at the Wheatstone liquefied natural gas project in Western Australia.
Engineering firm UGL has reported a 15 per cent fall in first-half profit due to acquisition costs but it says it is on track to deliver a five per cent rise in full-year underlying profit.
Australian stocks have opened more than one per cent higher, as firmer oil prices and a relaxing of banking requirements in China fuelled a rally in the resources and energy sectors.
European stock markets closed higher on Friday as investors took heart from the latest comments on the Greek debt crisis and positive US economic data, analysts said.
Monadelphous Engineering has become the fourth contractor to announce a framework agreement with Rio Tinto, giving it preferred contractor status for structural, mechanical and piping work as well
Australia's two most powerful supermarket players, Woolworths and Coles, have increased their dominance on a global scale after being named among the top 21 retailers in the world.
Santos says its Crown gas prospect in Western Australia's Browse Basin could be large enough to feed into major liquefied natural gas projects in the area.
The Australian share market has opened stronger, with investors bouyed by further signs the US economy is recovering and renewed hopes the Greek bailout deal will go ahead.
Industrial services company and takeover target Spotless has posted weaker first-half net profit of $16.5 million, down 5.2 per cent on the previous corresponding period.
The Australian dollar has risen almost one US cent on further signs the American economy is recovering and renewed hopes the Greek bailout deal will go ahead.
The state’s peak real estate body has scoffed at claims of a rental crisis in Perth, with its latest research showing the vacancy rate for rental properties steady at 2.5 per cent.
The Australian share market was dragged lower by renewed concerns that Greece is heading towards default and a weak lead from Wall Street while lower commodity prices weighed on mining stocks.
Mermaid Marine has reported a 35 per cent increase in net profit for the six months to December 31, driven by an “exceptional performance” by the company’s Australian fleet.
Perth companies Arafura Resources and Raisama have both slashed the size of their board of directors, in order to cut costs as they continue long-running negotiations over the funding and developme
