AUSTRALIA

Australia and China struck their biggest trade deal ever on Tuesday as the world's two most valuable listed oil companies, Exxon Mobil and PetroChina , agreed a $41 billion liquefied natural gas deal.

Global miner Rio Tinto agreed to sell its Alcan packaging unit for about $2 billion to Australia's Amcor Ltd , easing its debt burden after an ill-timed acquisition two years ago.

Reader's Digest Association Inc, whose namesake magazine has been a staple of dentists' offices for generations, said on Monday it planned to file for Chapter 11 bankruptcy for its U.S. businesses as part of a prearranged plan with lenders to cut debt by 75 percent.

Reader's Digest Association Inc, publisher of the widely-read Reader's Digest magazine, said on Monday it would likely file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load.

Reader's Digest Association Inc, publisher of the widely-read Reader's Digest magazine, said on Monday it would likely file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load.

With two rivals set to merge, pressure is mounting on Japan's Asahi Breweries to be more aggressive on acquisitions and map out a clear growth path as its home market shrinks.

The Australian unit of Swiss bank UBS AG thriving, even as its parent struggles in the global financial crisis, and has earned a reputation for snatching deals from rivals and making a success of them.

Despite unveiling a face-saving iron ore deal with Australia's Fortescue Metals Group on Monday, China's embattled steel industry body CISA seems to be ceding its grip on the levers of China's iron ore pricing talks.

TomTom's much anticipated turn by turn app for the iPhone was released on Monday on iTunes for $99. The app uses the iPhone's built-in GPS chip to provide users with real-time navigation directions

The world may be slowly emerging out of recession, but the global financial crisis appears to have gone unnoticed to a whole swathe of people: teenagers.

Australia's No.3 iron ore miner, Fortescue Metals Group , has agreed to supply China at a 3 percent discount to prices offered by its bigger rivals, in a deal that will allow Chinese steel mills to claim a partial victory in their quest for a better iron ore settlement.

Indian Bollywood star Shah Rukh Khan said he felt angry and humiliated after he was detained and questioned at a U.S. airport, sparking an uproar in India among his fans.

Mexico's Cemex, the world's No. 3 cement maker, said on Friday it finalized a $15 billion debt restructuring to avoid default and announced it could sell shares worth about $1.7 billion as part of the deal.

BHP Billiton has hired Bank of America-Merrill Lynch to advise it on a sale of its Ravensthorpe nickel operation in an auction which could fetch $1 billion, a source with direct knowledge of the matter said on Friday.

China is undeterred by recent Sino-Australian tensions and is gearing up for a slew of deals down under in everything from iron ore to property, bankers and lawyers say.

Australia's parliament rejected a plan for the world's most ambitious emissions trade regime as expected on Thursday, bringing the nation closer to a snap election and prolonging financial uncertainty for major emitters.

Asian stocks and commodities rose on Thursday after the Federal Reserve said the ailing U.S. economy was showing signs of leveling out, spurring investors to buy back shares and other riskier assets and sell U.S. dollars.

Australia said on Wednesday that charges against four staff from Anglo-Australian miner Rio Tinto appeared to have been downgraded after China formally arrested the men but left aside accusations they stole state secrets.

An Australian website is giving texting an intergalactic touch and allowing users to send short mobile phone-type messages into space.

BHP Billiton Ltd/Plc , the world's largest miner, gave a guarded outlook for global commodity demand, sending a worrying signal for weaker rivals, after a slump in metals prices triggered its first profit decline in seven years.

U.S. coal giant Peabody Energy Corp. said Australia's planned carbon trade scheme would hurt investment in coal mines and could force mine closures as Australia's parliament prepares to vote down the scheme.