ASX beefs up supervisory department

After months of criticism that its commercial interests put it at odds with its enforcement role, ASX has named a new chairman for its market supervision department.

Fortescue looking to bulk up quickly

FORTESCUE Metals Group is about to embark on its next stage of expansion, confident that demand for iron ore will remain strong for more than a decade, and signalling that its initial focus will be on increasing production from its base in Western Australia's Chichester Ranges.

Downgrade likely for Qantas profit as flights cut

QANTAS'S profit next year is expected to be slightly less than the $558 million investors had expected after the airline revealed that promised growth in flights would not occur.

Qantas cuts 4 pct of workforce, prunes growth plan (Reuters)

Reuters - Australia's top airline, Qantas Airways Ltd , will cut 4 percent of its workforce and scrap its growth plan for the coming year, saying the business would be at risk if it fails to offset soaring fuel prices.

No gas for Pluto 2 project as Woodside well turns up dry

WOODSIDE Petroleum will have to continue its search for gas to feed a proposed second production train at its $12 billion Pluto liquefied natural gas project after a potential feeder well turned up dry.

Turmoil for Qantas as craft grounded

QANTAS yesterday grounded a 747 aircraft because a crucial piece of equipment needed urgent maintenance, leaving the plane's tail at risk of breaking away.