FORTESCUE Metals Group did not mislead investors about binding agreements with Chinese parties because investors knew that its Pilbara iron ore project was in its infancy, a court has heard.
The Australian Securities and Investments Commission has alleged Fortescue engaged in misleading and deceptive conduct by overstating the nature of deals with three state-owned Chinese companies [...]

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Considering the economic and financial crisis at the moment, some are confident that Australia can manage the situation. The long-term effects have altered significantly to what Australians were thinking, but it’s not certain, it will depend on the country’s investment on productivity-increasing innovation and reform and getting the right balance on regulation, says Glenn Stevens, RBA governor. Things [...]

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The Reserve Bank of Australia have just announced another cut to interest rates. This time rates have been slashed by 1 percent. RBA Glenn Stevens said “At its meeting today, the Board decided to reduce the cash rate by a further 100 basis points, to 4.25 per cent, effective 3 December 2008.”
Some good news to come from the RBA’s [...]

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The Commonwealth Bank (CBA) has defended its decision not to fully pass on yesterday’s 100 basis point cut in interest rates.
 Ralph Norris, CBA chief executive, says he expects the bank to cut interest rates further when the global financial system stabilises.
“Once we get back to a normalised market situation, I think it’s fair to say [...]

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Oz Minerals, the merged Oxiana and Zinifex, has reassured shareholders of the company’s fundamentals and prospects after a significant drop in the group’s share price.
The share price of the merged company - which legally was Oxiana acquiring the Zinifex business - has dropped more than 67% from $3.90, when the merger was announced in March, [...]

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AAAI’s new website
The AAAI Group has launched its new website at www.aaai.com.au. They have made their website easier to navigate, more user friendly and have added a range of new features. The new site features a streamlined navigation system which now only contains four main sections, helping candidates get to what you want faster. They [...]

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The National Australia Bank (NAB) has announced that CEO John Stewart will step down at the end of 2008.
Stewart will be replaced in January by head of NZ’s operations, Cameron Clyne who has previously worked for accounting firm PriceWaterhouseCoopers.
Mr Stewart believes that after 18 months of preparations by the bank’s board, Mr Clyne is the [...]

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Overnight trade on global financial markets has featured a two-year low for US stock prices and a 25-year high for the Australian dollar.
Heightened volatility has been fuelled by crude oil prices, which have dropped sharply.
US President George W Bush concedes the American people face testing times, but is still talking up the economy as “remarkably [...]

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The Commonwealth Bank has announced it is increasing its variable home loan interest rates by 0.14 per cent.
The bank’s standard variable rate home loan will increase from 9.44 per cent to 9.58 per cent from Monday for both new and existing customers and its basic variable home loan from 8.93 per cent to 9.07 per [...]

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The previous federal government introduced a $2,000 rebate for motorists to convert their cars to LPG, since then more than 125,000 cars have been converted and the demand is only getting stronger.
The $2,000 rebate was introduced in October 2006 for privately registered cars, halfing the cost of an LPG conversion. Since then, more than $250 [...]

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