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Telstra (ASX:TLS) could have a share buyback next year if it gets the cash from its deal with the government. Under the agreement, the telco expects to get about $11 billion total—in current dollars and after tax is deducted—in disconnection payments, funding for universal services and for leasing infrastructure to NBN Co.

Chief financial officer John Stanhope said the company can give out ordinary dividends but not the special dividends possible with the payout from the NBN Co deal.

QBE Insurance (ASX:QBE’s) shares dropped almost 4 percent in over six months after the insurance group cut its profit margin forecast because of catastrophes. Stocks were down by 68 percent at $16.60, the group’s lowest since November last year.

Origin Energy (ASX:ORG) could net $693m from the potential sale of 7.5 percent stake in the Australia Pacific LNG (APLNG) project, but stake would be reduced to 35 percent. The company wants to keep as much of its stake as possible, according analysts briefed by the company.

The diversified international media and entertainment company News Corporation (NWS) has placed a massive $US11 billion worth of bid to gain complete control over the British Sky Broadcasting Group. It is to be mentioned that the recent takeover bid is one of the largest deals that News Corporation has come up with in years.

The proposed super-profit tax over the miners have seen the value of mining companies taking major hit on Tuesday as the sector lost another $7 billion worth of value.

Peabody Energy, a US based coal company has boosted the stakes in its takeover bid to win the control of Macarthur Coal (MCC), by coming up with an improved takeover bid that worth $3.56 billion.

Arrow Energy (AOE) is set to accept the takeover offer of Shell and PetroChina after it managed to convince the bidders to raise their offer by several hundred million dollars. Arrow is expected to make an announcement today regarding selling their Australian assets for more than $3 billion to the foreign companies. It is to be mentioned that this is the second Queensland based coal-seam gas frontier that is going to be acquired by overseas companies.