ASX surges on interest rate hopes
August 6, 2008
The Australian share market made strong gains, closing more than three per cent higher following a strong US lead and hopes of cuts to domestic interest rates.
BHP Billiton abandons bid for Rio Tinto
BHP Billiton Ltd., the world's biggest mining company, abandoned a hostile $68 billion takeover bid for rival Rio Tinto Ltd., blaming the global economic downturn and plunging commodity prices.
Rio Tinto to invest $2.15 bln in Brazil iron ore mine (AFP)
AFP - Anglo-Australian mining giant Rio Tinto announced Wednesday that it will invest 2.15 billion US dollars in a major expansion of its iron ore mine in Corumba, Brazil.
Australia approves Chinalco's stake...
Australia has approved Aluminum Corp. of China Ltd.'s stake in miner and takeover target Rio Tinto Ltd., Treasurer Wayne Swan said Sunday.
Westpac expect 8% cash earnings growth
Westpac Banking Corporation says it is on track to deliver 2008 cash earnings growth of between six and eight per cent.
Rio Tinto ends Asian steel price talks
Rio Tinto has concluded price negotiations with its Asian customers for the steelmaking commodity.
Shares of BHP Billiton, Rio Tinto...
Shares of BHP Billiton Ltd. and Rio Tinto Ltd. surged in Australia on Wednesday as fresh rumors swirled around the two companies linked by what could be the largest takeover...
ASX high at noon as Wall St soars
The Australian stock market was up at noon as News Corporation Ltd reported robust fourth-quarter and full-year results.
08/06/08
Similar news about ANZ Bank
Rio Tinto rail access could 'cost $30b'
Rio Tinto says it could cost Australia $30 billion over 20 years if the company's Pilbara railways in Western Australia are open to third party access.
Rio Tinto to invest 2.15 bln dlrs in Brazil iron ore mine (AFP)
AFP - Anglo-Australian mining giant Rio Tinto announced Wednesday that it will invest 2.15 billion US dollars in a major expansion of its iron ore mine in Corumba, Brazil.
Westpac may have to boost $17.6 billion St George bid (Reuters)
Reuters - Westpac Banking Corp Ltd , which has bid $17.6 billion for St George Bank in the biggest banking takeover ever in Australia, is bracing for rival offers to emerge that could push the price tag even higher.
BHP and Rio Tinto lead market higher
The Australian sharemarket closed higher yesterday, boosted by strong rises in global miners BHP Billiton and Rio Tinto.
BHP Billiton's bid for Rio Tinto...
The European Union has begun a full investigation into BHP Billiton's proposed
$170billion ($£85.8billion)takeover of Rio Tinto, its rival.
Fortescue ship refloated in Port Hedland
BHP Billiton says the grounding of a ship at the Port Hedland harbour illustrates why third parties should not be given access to its Pilbara rail network.
Babcock & Brown shares dive on fee...
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.
Westpac Banking Corporation and St...
Westpac Banking Corporation, Australia's oldest company, is in talks with St
George, a former building society, about merging to form a A$64 billion ($£31
billion) institution.
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.
Rio Tinto says it is comfortable with debt level
Mining giant Rio Tinto on Wednesday sought to allay concerns about its debt levels a day after bigger rival BHP Billiton abandoned a takeover bid for that reason, sending Rio's share price plummeting.
BHP Billiton and China's Baosteel agree on iron ore price rise of up to 96.5 percent
BHP Billiton said Friday it has reached agreement with China's Baosteel on prices for iron ore deliveries, securing increases of up to 96.5 percent after protracted negotiations.
EU widens antitrust probe into BHP...
The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed...
US antitrust regulator clears BHP...
Global mining giant BHP Billiton said Thursday that U.S. antitrust regulators had granted partial approval for its US$170 billion hostile takeover bid for rival Rio Tinto.
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...
Rio Tinto upbeat on commodities as...
Rio Tinto, the world's second largest miner, today revealed a 51.8 per cent
rise in profit for the first six months of the year due to soaring commodity
prices as it...
To the brink of war
The inside story of Rio Tinto's iron ore battle with China. The final round of brinkmanship in the iron ore wars took place on the afternoon of June 23 at a Baosteel office in...
ASX marginally in the red
The ASX was marginally in the red at noon, with gold stocks heavily sold off for the second consecutive day on the back of a falling gold price.