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Australian Company News 1 December 2008 (Monday) | ||
| ABS | A.B.C. LEARNING CENTRES | Unviable ABC centres in spotlight (The Sydney Morning Herald) ABC LEARNING'S receivers are expected to whittle down the list of unviable child-care centres on Wednesday from the 386 that were named as "under review" last week... |
| AGO | ATLAS IRON | IMC breaks silence over Atlas Iron (WA Business News) Privately-held IMC Resources has broken its silence on events surrounding Atlas Iron's shareholder meeting, disputing claims that it swayed stakeholders to vote against the re-election of chairman David Nixon... |
| ALB | ALBIDON | Albidon managing director resigns (WA Business News) Nickel miner Albidon is on the hunt for a new managing director after the company and Dale Rogers mutually agreed to part ways... |
| AMM | AMCOM TELECOMMUNICATIONS | Amcom wins Adelaide contract (WA Business News) Perth-based Amcom Telecom has secured a contract to extend a high-speed fibre optic cable network in Adelaide for SABRENet... |
| ANQ | ANAECO | AnaeCo prepares for overseas expansion (WA Business News) Waste recycling company AnaeCo has entered into a partnership with a UK-based firm to expand its DiCOM waste processing system through India, China and South East Asia... |
| ASX | ASX | IPOs hit the wall (The Sydney Morning Herald) New share listings have had their worst year since 1992 but will see a rebound next year, according to a report issued today... |
| ASX | ASX | Trans-Tasman merger details clarified (The Sydney Morning Herald) The issue of a possible merger of the Australian and New Zealand share markets still is sensitive if a statement on Monday by New Zealand's Capital Market Development Taskforce is anything to go by... |
| ASX | ASX | IPO activity to pick up late next year (WA Business News) It has been a dismal 2008 for company floats with initial public offer activity of non-resource stocks in Western Australia raising only 20 per cent of that achieved last year, a study has found... |
| AZS | AZURE MINERALS | Azure in $5m JV deal with JOGMEC (WA Business News) West Perth-based Azure Minerals has entered into a near $5 million joint venture with Japanese government entity, JOGMEC, over two of its Mexican projects... |
| BCS | BRISCONNECTIONS UNIT TRUSTS | Pay thousands and owe millions (The Sydney Morning Herald) BRISCONNECTIONS has rejected pleas for it and its underwriters to provide a reprieve to retail investors who have unknowingly exposed themselves to millions of dollars in liabilities after snapping up securities in the listed toll road... |
| BHP | BHP BILLITON | BHP, Rio may have to slash coal prices (The Sydney Morning Herald) BHP Billiton, partner in the world's biggest coking coal exporter, and Rio Tinto may have to cut contract prices by a third next year because of slumping demand from steelmakers, according to a survey of analysts... |
| BHP | BHP BILLITON | Macmahon secures $50m BHP contract (WA Business News) BHP Billiton's approval to proceed with further expansion works at its Pilbara iron ore operations has proved to be a boon for Macmahon Holdings, which today secured a $50 million contract with the miner... |
| BNB | BABCOCK & BROWN | B&B seek extension to trading suspension (The Sydney Morning Herald) Babcock & Brown Ltd has extended a suspension on the trading of its shares as it continues talks with its bankers to secure a short term debt facility... |
| BNB | BABCOCK & BROWN | Babcock to extend suspension (The Sydney Morning Herald) BABCOCK & BROWN is expected to extend its share suspension this morning as it hammers out final details of fresh funding agreement with its banks, in a deal that will throw the beleaguered infrastructure funds group a lifeline... |
| BRT | BRAINYTOYS | Finn leaves Brainytoys despite election (WA Business News) O'Connor-based Brainytoys has announced that Robert Finn has resigned as a director of the company, despite being re-elected at last week's annual general meeting... |
| CBX | CAPE ALUMINA | Cape Alumina IPO commitments total $15m (The Sydney Morning Herald) Bauxite explorer Cape Alumina Ltd says it has satisfied the minimum capital raising conditions for its initial public offer (IPO) and has extended the closing date to allow for oversubscriptions... |
| CMJ | CONSOLIDATED MEDIA HOLDINGS | What life beyond Nine could mean for sport (The Sydney Morning Herald) Fears that Channel Nine could fall into receivership next year, jeopardising TV rights contracts, has generated some nervousness among sports officials, particularly in cricket and rugby league, while codes relying on pay TV contracts are grateful they signed with the Packer/Murdoch-owned Premier Media Group... |
| CUO | COPPERCO | Anger as profitable miner goes belly up (The Sydney Morning Herald) LAST week a one-time rising star of the mining industry with a profitable operation, no less, fell into administration... |
| EVG | ENVIROGOLD | EnviroGold launches legal action (WA Business News) West Perth-based EnviroGold's wholly owned subsidiary, Las Lagunas, has today lodged a statement of claim against Intermet Engineering in the Federal Court... |
| FCL | FUTURIS CORPORATION | Futuris cuts forecast, changes name (The Sydney Morning Herald) Futuris Corporation has foreshadowed a further earnings downgrade and a small profit loss this financial year in announcing a major restructure in which it well sell $350 million worth of assets and rebrand the company as Elders... |
| FCL | FUTURIS CORPORATION | Futuris downgrades profit guidance (The Sydney Morning Herald) Agribusiness Futuris Corp Ltd has downgraded its profit guidance as it anticipates tough market conditions for the rest of fiscal 2009... |
| FMG | FORTESCUE METALS GROUP | Fortescue shares surge on takeover talk (The Sydney Morning Herald) Today's spike in the share price of iron ore miner Fortescue Metals may have been caused by short covering and market rumours the iron ore miner is a takeover target... |
| FMG | FORTESCUE METALS GROUP | Rumours rife as Fortescue shares spike (The Sydney Morning Herald) The spike in Fortescue Metals Group Ltd's share price on Monday may have been caused by short-covering and market rumours the miner is the target of a forthcoming takeover bid, analysts say... |
| FWD | FLEETWOOD CORPORATION | Rio quits Fleetwood's Pilbara contract (The Sydney Morning Herald) Rio Tinto Ltd has terminated a contract for the provision of accommodation units after putting the brakes on plans to expand its iron ore operations in Western Australia's Pilbara region... |
| FWD | FLEETWOOD CORPORATION | Rio terminates $25m Fleetwood contract (WA Business News) Rio Tinto's review of its Pilbara expansion projects has resulted in the termination of a $25 million accommodation construction contract with East Perth-based Fleetwood Corporation... |
| FXJ | FAIRFAX MEDIA | Fairfax family stays mum on dividends (The Sydney Morning Herald) FAIRFAX MEDIA'S biggest shareholder, the Fairfax family investment company Marinya Media, is staying mum on investor calls for a reduced dividend payout ratio to retire debt early... |
| GTP | GREAT SOUTHERN | Great Southern posts loss, sells asset (WA Business News) Agribusiness Great Southern has signed a conditional agreement to sell its Queensland asset for a discounted $23 million as it posts an annual loss of over $64 million... |
| IAG | INSURANCE AUSTRALIA GROUP | IAG expands footprint in Asia (The Sydney Morning Herald) Insurance Australia Group Ltd (IAG) has expanded its footprint in Asia, increasing its interest in its joint venture with Malaysian insurer AmAssurance to 49 per cent... |
| LEI | LEIGHTON HOLDINGS | No worries on Trump Tower halt: Leighton (The Sydney Morning Herald) Leighton Holdings Ltd says the suspension of construction at the $AED2.9 billion ($A1.22 billion) Trump Tower project in Dubai will not have a material financial impact on its 45 per cent held Al Habtoor Leighton Group... |
| MAH | MACMAHON HOLDINGS | Macmahon secures $50m BHP contract (WA Business News) BHP Billiton's approval to proceed with further expansion works at its Pilbara iron ore operations has proved to be a boon for Macmahon Holdings, which today secured a $50 million contract with the miner... |
| MAP | MACQUARIE AIRPORTS | Sydney Airport waits for green light (The Sydney Morning Herald) ANTHONY ALBANESE was never shy in expressing his views on Sydney Airport and the aviation industry while in opposition... |
| MFI | MARINER FINANCIAL | Mariner hits stormy waters (The Sydney Morning Herald) As the Babcock & Brown executive desperately negotiates a lifeline with its bankers half-way up Chifley Square, at the very top level of the ritzy Sydney office tower another boom-time asset shuffler is careering towards the rocks... |
| MIG | MACQUARIE INFRASTRUCTURE GROUP | MIG sell stake in Westlink M7 for $805m (The Sydney Morning Herald) Toll road owner Macquarie Infrastructure Group has sold its entire stake in Sydney's Westlink M7 toll road to Western Sydney Road Group (WSRG) for $805 million... |
| MXX | MINERAL SECURITIES | Anger as profitable miner goes belly up (The Sydney Morning Herald) LAST week a one-time rising star of the mining industry with a profitable operation, no less, fell into administration... |
| MYO | MYOB | MYOB rejects Manhattan takeover offer (The Sydney Morning Herald) Software company MYOB Ltd has rejected a $400 million-plus takeover offer from a private equity consortium and says it is talking with a range of parties about possible takeover bids... |
| OZL | OZ MINERALS | OZ banks extend refinance deadline (The Sydney Morning Herald) Australian miner Oz Minerals Ltd , facing sharp falls in selling prices for its minerals, was given one month instead of two by its lenders to come up with a way to refinance $US560 million in debt, it said on Monday... |
| OZL | OZ MINERALS | OZ deal endangered (The Sydney Morning Herald) THE former market darling OZ Minerals held hurried weekend negotiations with its bankers after a crucial debt extension deal was thrown into disarray by a rogue bank in the seven-member consortium to a $US420 million ($640 million) facility... |
| QAN | QANTAS AIRWAYS | Jetstar starts Perth-Singapore flights (WA Business News) Low fare airline Jetstar has today started its new daily Perth to Singapore service, its third overseas destination from the Western Australian capital since its international services launch in October... |
| RIO | RIO TINTO | BHP, Rio may have to slash coal prices (The Sydney Morning Herald) BHP Billiton, partner in the world's biggest coking coal exporter, and Rio Tinto may have to cut contract prices by a third next year because of slumping demand from steelmakers, according to a survey of analysts... |
| RIO | RIO TINTO | Rio Tinto mulls Pilbara cutbacks over Christmas (The Sydney Morning Herald) Rio Tinto may place some of its iron ore mines in Western Australia on care and maintenance over Christmas and New Year in response to slowing demand from Chinese steel mills... |
| RIO | RIO TINTO | Rio quits Fleetwood's Pilbara contract (The Sydney Morning Herald) Rio Tinto Ltd has terminated a contract for the provision of accommodation units after putting the brakes on plans to expand its iron ore operations in Western Australia's Pilbara region... |
| SEV | SEVEN NETWORK | Seven on top, but that is not high enough (The Sydney Morning Herald) KERRY STOKES'S Seven Network has defended its lead in TV ratings this year but analysts are spoiling the party, cautious about the broadcaster and its rivals because of the advertising downturn... |
| SGB | ST GEORGE BANK | Westpac complete $15b St George takeover (The Sydney Morning Herald) Westpac Banking Corporation has become Australia's second biggest bank, completing its $15 billion takeover of St George Bank Ltd... |
| SGB | ST GEORGE BANK | Dragon bosses put to the knife (The Sydney Morning Herald) WESTPAC has started cutting a swathe through the senior managerial ranks at St George Bank as part of tens of millions of dollars of immediate cost savings it is looking to extract from the newly merged group... |
| SGB | ST GEORGE BANK | Thwarted at every turn (The Sydney Morning Herald) ST GEORGE'S painful experience of being on the receiving end of a merger with a much bigger partner could have been averted if it had managed to pull off a tie-up with BankWest in the early 2000s... |
| TSE | TRANSFIELD SERVICES | Transfield shares dive on equity offer (The Sydney Morning Herald) Shares in Transfield Services Ltd fell by more than 60 per cent on Monday after coming out of a three-week trading halt... |
| VBA | VIRGIN BLUE HOLDINGS | Sydney Airport waits for green light (The Sydney Morning Herald) ANTHONY ALBANESE was never shy in expressing his views on Sydney Airport and the aviation industry while in opposition... |
| WBC | WESTPAC BANKING CORPORATION | Westpac complete $15b St George takeover (The Sydney Morning Herald) Westpac Banking Corporation has become Australia's second biggest bank, completing its $15 billion takeover of St George Bank Ltd... |
| WBC | WESTPAC BANKING CORPORATION | Dragon bosses put to the knife (The Sydney Morning Herald) WESTPAC has started cutting a swathe through the senior managerial ranks at St George Bank as part of tens of millions of dollars of immediate cost savings it is looking to extract from the newly merged group... |
| WBC | WESTPAC BANKING CORPORATION | Thwarted at every turn (The Sydney Morning Herald) ST GEORGE'S painful experience of being on the receiving end of a merger with a much bigger partner could have been averted if it had managed to pull off a tie-up with BankWest in the early 2000s... |
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