Newcrest to expand as profit surges
August 19, 2008
NEWCREST MINING has outlined plans to increase its annual production by nearly 1 million ounces within five years after adding another 15 million ounces to its reserve inventory.
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.
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.
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
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.
Wesfarmers denies buying a bad apple
THE managing director of Wesfarmers has denied that earnings at its supermarkets and bottle shops have gone backwards.
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.
CSL to buy Talecris for $3.48b
CSL will buy Talecris Biotherapeutics Holdings, a plasma therapeutics business, for $3.48 billion.
08/13/08
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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.
Red Wings reward Babcock for winning Stanley Cup (AP)
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 over the next three years, Babcock's younger two kids likely will get the same opportunity.
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...
Australia's St. George agrees to...
St. George Bank Ltd., Australia's fifth-largest bank, agreed to a revised 17.3 billion Australian dollar ($14.4 billion) takeover proposal by larger rival Westpac Banking Corp....
Woolworths may plunge into a retail...
If Steve Johnson wondered what he had let himself in for by agreeing to be the
new chief executive of Woolworths, it was laid bare yesterday. According to
one City analyst, he...
Local punters moderate losing streak...
AFTER a disappointing nine months for James Packer's Crown Limited, in which investors had dumped stock amid fears the company was overexposed to the ailing US gaming market,...
08/20/08
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Woolworths angers shareholders by...
Woolworths faces a showdown with its biggest shareholders after the ailing
retailer rejected a takeover approach for its 815 stores yesterday from
Malcolm Walker, the founder...
Woolworths rejects offer by Iceland...
Woolworths has rejected a surprise offer to acquire its retail division by Malcolm Walker, chief executive of the frozen food specialist Iceland.
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.
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.
Babcock still has its tickets
And Michael Evans has a special friend he likes to call Mr Snufalufagus.
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.
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.
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.
Babcock CEO, Chairman Step Down
Babcock & Brown unveiled a major overhaul of its board and management but failed to stem the drop in its share price due to continued concerns about its financial position.
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.