Kill the competition: Tesco bank buy ... Merrill write-down ... Bond scheme
July 29, 2008
Welcome to today's round-up of business news from The Times: what we're
saying, what they're saying]
Transurban toll revenue jumps
Toll road operator Transurban has reported an increase in annual revenue from tolls and fees on its roads in Australia and the United States, helped by higher traffic volumes and toll increases.
Australia's Commonwealth Bank eyeing BankWest: report (Reuters)
Reuters - Commonwealth Bank of Australia (CBA) , the country's No. 2 bank by assets, may offer over A$6 billion ($5.2 billion) to British bank HBOS for its Australian unit BankWest, the Australian newspaper reported on Monday.
Qantas passenger revenues up 4.3%
Qantas says its May group passenger numbers increased by 3.9 per cent over the previous year.
Orica to demerge consumer products
Orica Ltd plans to demerge its consumer products business into a separate company and raise up to $900 million through an entitlement offer.
Westpac's ray of light
Westpac has so far managed to avoid big problem credit exposures, and should it successfully swallow St George, will become Australia's biggest bank.
Transurban tolls and fees pay off
Toll road operator Transurban Group has reported an increase in annual revenue from tolls and fees on its roads in Australia and the United States.
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
Qantas full-year profit up 44%
Qantas has increased its full year profit by 44.1 per cent but says it is starting to feel the effect of higher fuel costs amid an uncertain economic outlook.
Babcock & Brown shares dive on fee flow fears
Babcock & Brown, the worst- performing stock on the MSCI Asia-Pacific Index, fell on concerns that credit market turmoil may cut proceeds from asset sales to reduce debt.
Fairfax moves to unwind margin loan
THE Fairfax Media director John B. Fairfax has unwound a margin loan over 159 million of the publisher's shares, which was believed to have prompted short-sellers to target the stock over recent weeks.
Qantas gets more passengers
Qantas says its passenger numbers in May increased by 3.9% over the previous year.
Orica set for demerger
THE chemicals maker Orica last night revealed plans to raise $900 million and demerge its paint division as it focuses on expanding its booming mining services business.
07/21/08
Similar news about Acquisition
Jetset to merge with Qantas
Jetset Travelworld Ltd is set to merge with Qantas Airways' travel businesses after Jetset shareholders approved the deal on Thursday.
07/17/08
Similar news about Qanta Airways
Woolworths still eyeing The Warehouse
Cashed-up retailer Woolworths is still likely to make a tilt at the New Zealand general merchandise retailer The Warehouse, an investment house says.
Amcor searches for 'way forward'
Amcor's disappearance this month from the Top 25 holdings of one of the largest investment specialists spoke volumes.
07/14/08
Similar news about Amcor Ltd.
Telstra make $24.8b in sales revenue
Telstra's profit grew 13.3 per cent in the year to June 30, on a jump in mobile phone revenue as customers took up services with the Next G network.
CSL to acquire Talecris for $3.4b
Blood products and vaccine firm CSL will acquire Talecris Biotherapeutics Holdings for $3.48 billion to boost its presence in the plasma therapeutics market.
Australian merchant bank Babcock and Brown faces lenders
Babcock & Brown Ltd., Australia's second-largest merchant bank that last week lost half its market value, is accelerating an examination of its listed funds as it faces its bankers over a potential review of its 2.8 billion Australian dollars (US$2.7 billion) corporate debt facility.
Telstra jumps Optus in mobile revenue
Telstra Corp Ltd's mobile phone revenue has surged, extending Australia's biggest telecommunications company's lead over rival Optus in the segment.
Tolls boost Transurban revenue
Transurban reports an increase in annual revenue from tolls and fees on its roads in Australia and the US.
Crown reports $370.1m in profit
Casinos operator Crown Ltd says its Australian casinos have been trading satisfactorily since the start of the 2008/09 financial year.
Wesfarmers expecting solid growth
Coles owner Wesfarmers has delivered a 33.6 per cent rise in annual profit and expects solid growth again this year despite a tougher economic environment.
Babcock's jig is up
The writedowns have begun, corporate finance has been axed, and a fire sale of assets is now on. Babcock's survival hinges on this.
Qantas profit up but outlook uncertain
Qantas expects a 41 per cent fall in profit this financial year as the airline faces the headwinds of rising fuel costs and a slowing global economy.