ONE of the world's newest airlines swamped Airbus and Boeing this week with one of the largest aircraft orders in the history of commercial aviation.

QANTAS boss Geoff Dixon has warned his 36,000 workers the airline had been "changed forever" due to rocketing fuel costs.

THE Seven Network's core media division has unveiled a major management reshuffle that will allow its boss, David Leckie, to step back from some day-to-day duties in the wake of a major health scare less than three months ago.

AUSTRALIA'S massive terms of trade boost of $45 billion - the windfall from the higher iron ore and coal prices achieved earlier this year - will bring the equivalent to $2250 for every man, woman and child into the country.

CENTRO has agreed to sell the majority of the properties in the Centro America Fund (CAF) for $734.9m - a 10pc discount to its book value.

THE RBA is still wary of inflation, but feels the economy is slowing - dampening expectations of further rate rises, economists say.

THE Australian dollar was higher at noon after hitting a fresh 25-yr high, as the US currency continues to dip on fears about the financial sector.

THE Australian stock market was over 1 per cent lower at noon, led by the big banks, after US stocks slipped on lingering concerns about the health of the financial system.

FUND manager and leasing financier Allco Finance Group has refinanced its senior debt facilities with the company's standing banking syndicate.

WESTPAC has joined its major rivals by lifting its standard variable mortgage rate by 14 basis points.

TOLL Holding's decision to offload almost all its majority stake in Virgin Blue is positive in the long term for the airline, analysts say.

RIO Tinto plans to invest more than $US500 million ($514.8 million) on upgrading its power sources in the Pilbara region of Western Australia to support its expanding iron ore operations.

THE competition watchdog has expanded its surveillance of Telstra, saying it will supervise the telco's treatment of rivals trying to install high-speed broadband equipment in exchanges owned by the former government-owned monopoly.

TOLL Holdings is assessing large and small acquisition opportunities after yesterday announcing plans to emerge as a pure logistics player with low debt from the long-awaited disposal of its majority stake in Virgin Blue.

BUYERS flocked to Freddie Mac's $US3 billion ($3.1 billion) debt sale yesterday, just hours after the US government pledged support for the nation's top mortgage finance agencies, but the steps failed to stem growing alarm on Wall Street.

WALL Street stocks tumbled in volatile trade overnight amid growing investor unease about the banking sector, following the failure of IndyMac bank and concerns about other banks' finances.