James Packer's Crown Group has scrapped plans for a $US350 million resort in Sri Lanka after the new government banned casinos and axed tax breaks.

BHP sheds Olympic Dam jobs

Mining giant BHP Billiton will shed hundreds of jobs at its Olympic Dam mine in South Australia, but the company hopes to redeploy some contractor roles.
Commonwealth Bank of Australia shares have touched $90 for the first time since it was privatised in 1991.

Rate cuts to come but Feb unlikely

The Reserve Bank is expected to keep the cash rate unchanged on Tuesday but it might start signalling that it is inclined to resume cutting this year.
Macquarie Radio has flagged a 65 per cent fall in half year profit because of several costs, including a contract extension for Alan Jones.
A new app has been launched by an Australian entrepreneur in the hope it can help cut the number of emails and meetings in the workplace.
Pilbara iron ore producer BC Iron is making deeper cuts as it renegotiates workforce tenders at a new mining hub amid weaker iron ore prices.
Whitehaven Coal expects to lower its production costs further over the second half of the financial year, after posting a $78 million first half loss.
Gold mining giant Newcrest has lifted its full year production targets, but is disappointed with the performance of its major PNG operation.

US Senate approves Keystone pipeline

The US Senate has approved the controversial Keystone pipeline, which President Barack Obama has threatened to veto.
Older women are Australia's happiest while women in their twenties are the gloomiest, a quarterly wellbeing study by a major bank has found.
API says sales at its Priceline and Priceline Pharmacy stores are growing despite the tough retail environment.

Clive Palmer falls from rich list

Falling commodity prices have hurt the fortunes of Australia's mining magnates, while a real estate boom lifted the value of property tycoons.
Explosives supplier Orica expects the problems being seen by its major customers to continue in the short term.
Beach Energy hopes to ride out the oil price downturn by cutting capital expenditure by 20 per cent.
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