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Days after Panasonic in Australia announced the launch of their 3D TV with a promise of the most affordable rates, Sony Australia, with an aim to get back its lost market share has come forward with its new offering in the TV markets.

The company has come with a new model of Sony Bravia 3D with an IPTV service. The IPTV service could cost a lot to the consumers. Sony initially will be releasing only one full 3D TV model, unlike its competitors Samsung and Panasonic who will be launching their TV with built in 3D.

Sony would be coming up with this new offering in July 2010, 3 months after competitors would have entered in the market.

Bank of America Corp - the largest US bank and the Securities and Exchange Commission (SEC) reached accord over alleged misstatements about the purchase of Merrill Lynch in January 2009, with BofA agreeing to pay a penalty of $150 million.

The US District Judge Jed S. Rakoff in New York said he 'reluctantly' approved the settlement of two suits in which the SEC accused the North Carolina-based bank of misleading investors following the announcement that it would acquire Merrill Lynch. The lawsuits accused BofA of keeping shareholders in the dark about the massive losses that the bank inherited when it acquired Merrill Lynch.

Considering the number of projects under progress, Papua New Guinea-based energy producer Oil Search has warned that there could be an oversupply of Liquefied Natural Gas (LNG) in coming years.

Talking to media, Chief Executive of the company Peter Botten said that the competition to supply LNG would intensify down the line with many companies eyeing for the same rights. "There is undoubtedly the potential for oversupply and there are a number of reasons why that may or may not take place," he said.

However, he added that recovery of the world and growth of Asian economy would play a major deciding factor.

GPT Group, the Australian property trust unloading overseas investments, released its results today. The group posted a profit in the second half of the year but posted loss in the full year. The profit in the second half was mainly attributable to the sales of its assets.

Honda Motors Co. is planning to come up with a hybrid car for the Indian market. There are reports that the company is developing a small-capacity engine which will be using diesel as the fuel.

The development is still in a nascent stage and once it does come up with it, brands like City, Jazz et al, will be using the engine.

While there has been no statement from the company till now, the indications given by Tomohiko Kawanabe, Chief Operating Officer, Research & Development, Honda point out towards this direction.

He said that if the company wants to compete in markets such as Europe and India, it needs to build a small capacity diesel engine. And now the company is moving from research stage to development stage.

Amcom Telecommunications, a Perth based company, has recently given a proposal to acquire IP Systems for up to $20.5 million. The telecommunication giant takes this step to expand its product range into enterprise voice solutions.

IP Systems is a voice and communications technology provider and operates an IP network over a fibre backbone in Australian and New Zealand cities. It has operation centers in Melbourne, Sydney, Brisbane, Canberra, Adelaide, Perth, Auckland and Wellington.