Top business news

Iron ore drops below $US60
The big miners are being heavily sold off after the spot iron ore price fell below $US60 a tonne for the first time since May.
Stocks to watch at close on Wednesday
Stocks of interest on the Australian Securities Exchange at close on Wednesday
Melbourne fashion label to expand
A fast-growing Melbourne fashion label is wanting to grow its presence overseas and in Australia after successfully taking on the US market.
Building approvals hit record highs
A record $57.6 billion of new homes have been approved for construction in the past 12 months, official data shows.
NZ retailer launches takeover of Kathmandu
Kathmandu suitor Briscoe Group has launched an official $NZ1.80-a-share takeover bid for the outdoor retail chain.
Woodside pushes ahead with Browse
Woodside Petroleum is pushing ahead with the design and engineering of its massive Browse offshore floating liquefied natural gas project off WA
Samsung merger ruled ok
The proposed merger of two Samsung Group subsidiaries has been given the green light in a South Korean court.
Greece seeks new loans after default
Crisis talks are set to resume in Brussels after Athens asked for a further 29.1 billion euros to cover its financing needs and restructure its debt.
Price set for MG Unit Trust
The price for Murray Goulburn's special trust has been set at the lower end of its indicative range.
Low home rent yields warn of overvaluation
Falling rental yields on housing add weight to the view that the housing market is in overvalued territory.