Philippines swimming in rice
The world & #39;s biggest rice importer, the Philippines, is now & #39;swimming & #39; in the grain because of huge imports by the former government that drove world prices up.

Disney sells Miramax for & #36;US660m
The Walt Disney Co has agreed to sell its Miramax Films to an investor group for about & #36;US660 million.

China second largest economy: bank chief
China has moved ahead of Japan to become the world & #39;s second-largest economy, a senior central bank official says.

Another gas contamination scare
Tests will be carried out at a second underground coal gasification (UCG) trial in Queensland.

Telstra incurs & #36;170m charge on HK telco
Telstra Corp says it will incur a non-cash impairment charge of & #36;170 million on the carrying value of its Hong Kong based mobile phone telco CSL New World.

British Airways posts & #36;STG122m Q1 loss
British Airways says its losses widened 15 per cent to STG122 million ( & #36;A211.4 million) in the three months ending June 30.

Programmed shares fall after Q1 update
Programmed Maintenance Services says its unlikely to replace all work won last year from the government & #39;s stimulus package.

Origin says sales revenue is up
Origin Energy says annual sales revenues at its exploration and production business are up.

AWB, GrainCorp set to merge
GrainCorp and AWB say they will merge to create Australia & #39;s largest agribusiness as AWB downgrades its earnings guidance.

Macquarie says annual earnings may fall
Macquarie Group warns earnings in major businesses may fall from fiscal 2010 if financial markets remain subdued.

Homeowner shortfall to worsen by 2020
A chronic national housing shortage means the dream of home ownership is slipping further out of reach for ordinary Australians.

ERA profits plunge, vows to do better
Energy Resources of Australia has revealed a first-half profit plunge amid falls in production, higher maintenance costs and a stronger Australian dollar.

Optus guidance reaffirmed
SingTel reaffirms annual guidance for Australian subsidiary Optus.

AWE blames low price on drill results
Oil and gas producer AWE Ltd says it had a disappointing June quarter, although production jumped 47 per cent to 1.65 million BOE.

iiNet agrees to buy AAPT consumer div
iiNet has bolstered its position as one of Australia & #39;s major telecommunications providers, agreeing to buy the AAPT consumer division from Telecom NZ.