ASX closes sharply lower
August 13, 2008
The Australian share market closed sharply lower, losing two per cent as weaker financial and resource stocks added to the negative direction from Wall Street.
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 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.
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.
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 ends Asian steel price talks
Rio Tinto has concluded price negotiations with its Asian customers for the steelmaking commodity.
Telstra to outdo profit guidance
Telstra is expected to do better than its guidance when it reveals its annual profit results this week, as it increases revenue from its Next G mobile services.
Telstra delays dividend plan but...
TELSTRA has fallen short of bullish market expectations for profit growth this year, disappointing investors who had wanted to begin reaping more benefits from its lauded...
Telstra executive Burgess to resign
Telstra's head of public policy and communications Phil Burgess is leaving the company and will return to the US, due to illness in his family.
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.
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.
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.
Gillard slams Telstra for ending EBA...
JESSE HOGAN AND CHRIS ZAPPONE The Workplace Relations Minister dismisses Telstra's rationale for ending talks with unions on collective agreements.
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.
Telstra gears up for ad blitzkrieg
TELSTRA'S outgoing brand chief and Sol Trujillo import, Bill Obermeier, will remain in Australia for at least two years to spearhead a "world leading" digital marketing venture...
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.
ASX lower led by financials, resources
The Australian share market closed more than two per cent lower, dragged down by the resource and financial sectors and a weak lead from Wall Street overnight.
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.
Rio Tinto posts record half-year profit
Rio Tinto Ltd., the world's third-largest mining company, said Tuesday that half-year profit more than doubled to a record on strong demand from China for iron ore and other metals.
ASX closes lower after financials fall
The Australian share market closed lower after falls from the financial sector, with Babcock & Brown suffering a heavy loss amid a drop in interim profit.
Australian merchant bank Babcock and...
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...
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...
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
BHP Billiton executives say Rio Tinto...
A BHP Billiton Ltd. executive said the world's largest miner will submit its first paperwork with European Union regulators regarding its planned takeover of rival Rio Tinto...
Red Wings reward Babcock for winning...
AP - Mike Babcock's new contract allows the oldest of his three children to graduate from the same high school she's attending. And if all goes well with the Detroit Red Wings...