Baker's Dozen: Fab 50 Companies To Watch
September 4, 2008
Given their recent solid performance, these 13 companies are strong contenders for future Fab 50 rosters.
WorleyParsons' billion-dollar solar plan
WorleyParsons is studying the construction of the world's biggest project producing power from the sun's heat, tapping incentives for renewable energy generation.
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.
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.
Fortescue to double iron ore production
FORTESCUE METALS is forging ahead with plans to more than double its annual production capacity to 120 million tonnes of iron ore a year.
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
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.
WorleyParsons awarded Fortescue contract
WorleyParsons Ltd has been awarded a lucrative contract for the second phase expansion of Fortescue Metals Group Ltd's iron ore development project.
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....
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.
Newcrest to expand as profit surges
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.
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 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.
Lend Lease profit falls as expected
Property group Lend Lease has posted a 46.7 per cent fall in annual profit and says it has begun a global search for a successor to chief executive Greg Clarke.
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.
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 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.
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.
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.
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.
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.
Wesfarmers denies buying a bad apple
THE managing director of Wesfarmers has denied that earnings at its supermarkets and bottle shops have gone backwards.
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.
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
Similar news about Crown Ltd.
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.