Fortescue Metals Group Ltd. (FMG.AU) has put a power station being built for its Solomon iron ore project in Western Australia's Pilbara region up for sale, a person familiar with the situation said Thursday.

Australian business confidence weakened through the second quarter despite big interest rate cuts, with the ongoing sovereign debt crisis in Europe and fears linked to the introduction of new taxes outweighing the positives, National Australia Bank Ltd. said Thursday.

Woodside Petroleum Ltd.'s (WPL.AU) giant Pluto project, once plagued by cost blowouts and delays, has gotten off to a flying start that's enabled the Australian oil company to jack up its annual production guidance.

Liquid crystal display maker Chimei Innolux Corp. (3481.TW) has said it plans to raise US$542.75 million from issuing global depositary receipts later this year to fund purchases of components.

Solid yearly production figures weren't enough to halt a further sell-down Wednesday in BHP Billiton Ltd. (BHP) shares to their lowest point in more than three years, as investors continue to worry about falling commodity prices.

Australian oil producer Santos Ltd. (STO.AU) said Thursday second-quarter revenue rose 18% on year after it switched on new projects in Western Australia state and Indonesia and received higher prices for its natural gas.

Australian stocks rallied in early Thursday action, carrying on gains from Wall Street and reacting to some positive news in the energy sector, with the benchmark S&P/ASX 200 up 1.2% at 4,173.70.

Woodside Petroleum Ltd. (WPL.AU) said Thursday that the successful activation of its giant Pluto project helped second-quarter revenue grow by 23%, and has underpinned an upgrade to its annual production guidance.

Japan stocks rose sharply in early Thursday trading, with investors shrugging off a rise in the yen and instead looking to overnight gains on the Nasdaq Composite to push tech shares higher.

Sandwich chain Quiznos Corp. named Stuart K. Mathis as its new president and chief executive, succeeding Greg MacDonald, who is stepping down immediately. Mr. Mathis's appointment is effective July 30. Mr. Mathis most recently served as president of United Parcel Service Inc.'s (UPS) UPS store