Kill the competition: Panic strikes ... £50bn bank plan ... Planning discarded
October 7, 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.
News Corporation’s first-quarter profits down 30% after drop in television advertising revenue
News Corporation, parent company of The Times, reported a 30 per cent drop in first-quarter profits, as falling revenues from television advertising and declining film studio sales hit the bottom line.
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.
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.
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.
Qantas passenger revenues up 4.3%
Qantas says its May group passenger numbers increased by 3.9 per cent over the previous year.
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.
National Australia Bank shares fall 10%
National Australia Bank shares have dropped 10 per cent after the bank announced an extra $830m loss on its exposure to US mortgage-backed debt securities.
Santos revenue up with lower production
Oil and gas producer Santos has reported a lift in revenue despite a drop in half year production due to the suspension of gas processing on Varanus Island.
Woodside Q2 revenue up 52%
Woodside Petroleum Ltd has posted a 52 per cent jump in second quarter sales revenue, after production rose and the price of crude oil soared.
Woodside revenue surges
Woodside posts a 52% jump in second quarter revenue, after production rises and crude oil prices soar.
National Australia Bank talking to...
National Australia Bank Ltd., one of the country's biggest lenders, said Friday it is in consultations with the Royal Bank of Scotland about buying the local arm of investment...
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.
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.
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.
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.
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.
Mobiles, wireless lift Telstra
Telstra profit grows 13% to $3.7b, helped by higher mobile phone and wireless data sales.
CEO of Australia's Fairfax Media resigns
The chief executive of Fairfax Media, publisher of the Sydney Morning Herald, quit Friday after three years at the helm of a company that has lost advertising dollars to the...
Best of the big banks
So far, in this first anniversary week of the subprime implosion, Westpac has proved itself most adept among its peers at managing risk.
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.