Cougar site closed

Cougar Energy has been ordered by Queensland's Department of Environment and Resource Management to shut down its trial underground coal gasification plant near Kingaroy. It makes final a decision to suspend the trial in July last year, when traces of the cancer-causing chemical benzene were found in groundwater bores on the site.


Slump persists

The construction industry is expected to remain weak this financial year, after it shrank for the 13th straight month as residential building slumped, according to the Australian Industry Group/Housing Industry Association performance index.


Murchison recovers

Shares in Murchison Metals regained ground for the second consecutive day after a fall on Tuesday when the iron ore miner admitted it didn't have the funds for the stalled Oakajee port and rail development. Its shares closed up 5.5? at 71.5?.


Temasek rides high

Singapore's state-linked investment firm Temasek Holdings said its net profit more than doubled in the year to March and the value of its global portfolio hit a record high.


ResMed buys Irish

ResMed, a supplier of equipment to treat sleeping and respiratory disorders, has acquired BiancaMed, an Irish company that supplies a sleep monitoring device. The purchase price was not revealed.


Austar still in sights

Regional pay TV provider Austar has urged caution following media reports Foxtel is about to formalise its $1.9 billion bid for the company. Austar said talks between the two were "continuing".


NZ rates soar

Standard & Poor's said the cost of Christchurch's earthquake damage meant reinsurance rates would treble for some NZ insurance firms.

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