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Australian Company News 28 November 2008 (Friday) | ||
| ABB | ABB GRAIN | AWB-ABB talks open door to possible overseas bidder (The Australian) The transaction could lead to the formation of Australia's second-largest agribusiness with a market capitalisation well in excess of $2 billion... |
| ABB | ABB GRAIN | AWB, ABB Grain in $2bn merger talks (The Australian) AUSTRALIAN grain-handling rivals AWB and ABB Grain are in "friendly" discussions about a possible $2 billion merger... |
| ABB | ABB GRAIN | AWB, ABB Grain in Talks for Australia’s Top Shipper (Bloomberg) AWB Ltd., Australia’s former monopoly wheat exporter, and ABB Grain Ltd. are in talks to create the nation’s biggest grain shipper as industry deregulation attracts global trading companies... |
| ABB | ABB GRAIN | Grain giants sow seeds of merger (The Sydney Morning Herald) RIVAL grain operators AWB and ABB Grain are in merger talks with an eye to creating a $2.3 billion giant dominating the nation's agriculture export markets... |
| ABS | A.B.C. LEARNING CENTRES | ABC landlord reeling (The Sydney Morning Herald) Of the 386 centres "under review" by the ABC Learning receivers, AEU says it owns 117 of them - 27 per cent of its portfolio. These centres provide an annualised income of $11 million to AEU... |
| AEU | AUSTRALIAN EDUCATION TRUST | ABC landlord reeling (The Sydney Morning Herald) ABC Learning Centres' main landlord, Australian Education Trust, took another beating yesterday after revealing its exposure to the child-care centres that are facing closure by the end of the year... |
| AHE | AUTOMOTIVE HOLDINGS GROUP | Automotive Holdings profit improves (The Sydney Morning Herald) Automotive Holdings Group Ltd (AHG) says its profit performance improved in October after a decline in the first quarter of its financial year... |
| AHE | AUTOMOTIVE HOLDINGS GROUP | Logistics division saves the day at AHG (WA Business News) The logistics division of Automotive Holdings Group has buffered the company from further losses as its core retail division suffers a 24 per cent fall in earnings over the past four months... |
| AIX | AUSTRALIAN INFRASTRUCTURE FUND | Passenger numbers rise at Perth Airport (WA Business News) Domestic travel has largely contributed to a rise in total passenger numbers at the Perth Airport during October... |
| AQA | AQUILA RESOURCES | Aquila set to offload coal asset to Vale (The Sydney Morning Herald) Mid-tier mineral explorer Aquila Resources Ltd expects to sell its Belvedere coking coal asset in Queensland to Brazilian mining giant Vale by late next year... |
| AWB | AWB | AWB-ABB talks open door to possible overseas bidder (The Australian) AUSTRALIAN agribusinesses AWB and ABB Grain are discussing a possible merger, the companies said in separate statements today... |
| AWB | AWB | AWB, ABB Grain in $2bn merger talks (The Australian) AUSTRALIAN grain-handling rivals AWB and ABB Grain are in "friendly" discussions about a possible $2 billion merger... |
| AWB | AWB | AWB, ABB Grain in Talks for Australia’s Top Shipper (Bloomberg) AWB Ltd., Australia’s former monopoly wheat exporter, and ABB Grain Ltd. are in talks to create the nation’s biggest grain shipper as industry deregulation attracts global trading companies... |
| AWB | AWB | Grain giants sow seeds of merger (The Sydney Morning Herald) RIVAL grain operators AWB and ABB Grain are in merger talks with an eye to creating a $2.3 billion giant dominating the nation's agriculture export markets... |
| AWC | ALUMINA | Alumina (AWC) $1.30; Rio Tinto (RIO) $42.85 (The Australian) WHEN Rio Tinto bid $US38 billion for Alcan in July last year, the splurge was easy to justify. Being light, strong and fuel-efficient, aluminium is the metal of the future... |
| BBP | BABCOCK & BROWN POWER | New gig for B&B boss (The Sydney Morning Herald) There is life after Babcock & Brown. Paul Simshauser, the former boss of B&B Power known for his upbeat comments about its debt position that sparked a share crash from $2 to not much, has a new gig. And having done his dash as a CEO, he's now doing dual duties as chief economist and head of corporate affairs at AGL.... |
| BCM | BABCOCK & BROWN CAPITAL | B&B Capital plans to give $100m back (The Sydney Morning Herald) Babcock & Brown Capital, one of the satellite funds of the troubled investment group, plans to return $101 million to shareholders rather than reactivate a share buyback... |
| BHP | BHP BILLITON | Deal's dead, now for the fees (The Sydney Morning Herald) If you have tears, prepare to shed them now... |
| BHP | BHP BILLITON | Analysts slap buy recommendation on BHP (The Sydney Morning Herald) BHP Billiton Ltd has emerged from its decision to dump a $100 billion-plus takeover for rival Rio Tinto Ltd with "buy" recommendations from analysts and a welcome boost to its stock price... |
| BHP | BHP BILLITON | BHP set for next tilt (The Sydney Morning Herald) IT IS back to basics for BHP Billiton... |
| BHP | BHP BILLITON | Warped view back to earth with thud (The Sydney Morning Herald) THE conception, the fight, the strategy and the ultimate abandonment of BHP Billiton's bid for Rio Tinto will be the subject of autopsy for a long time to come... |
| BHP | BHP BILLITON | BHP ratings upgraded while Rio suffers (WA Business News) BHP Billiton has emerged from its decision to dump a $100 billion-plus takeover for rival Rio Tinto Ltd with 'buy'recommendations from analysts, while Standard & Poor's has maintained its rating for Rio but warns of a downgrade... |
| BKN | BRADKEN | Greiner grabs Bradken (The Australian) FORMER NSW premier Nick Greiner has joined the club of company directors who reckon they can spot light at the end of the tunnel... |
| BNB | BABCOCK & BROWN | B&B still battling to resolve crisis (The Sydney Morning Herald) LAST-DITCH talks were under way last night between Babcock & Brown and its banking syndicate to try to resolve the financial crisis that could plunge the beleaguered asset management group into administration... |
| CAZ | CAZALY RESOURCES | Cazaly fights Rio for Rhodes Ridge asset (The Sydney Morning Herald) Feisty iron ore explorer Cazaly Resources Ltd is set for another legal stoush with mining giant Rio Tinto Ltd next week, this time over the Rhodes Ridge project... |
| CER | CENTRO RETAIL GROUP | Centro acts to cut losses from class actions (The Australian) CENTRO will seek a negotiated settlement of its two shareholder class actions to reduce losses from a potential $1 billion claim... |
| CER | CENTRO RETAIL GROUP | Centro tight-lipped in debt negotiations (The Sydney Morning Herald) Centro Properties Group walked a tightrope between its securityholders and bankers on Friday, refusing to disclose information that may give away its negotiating tactics aimed at securing a 12-month extension to refinance its debt... |
| CER | CENTRO RETAIL GROUP | Centro trust to go independent (The Sydney Morning Herald) CENTRO RETAIL TRUST will push ahead with plans to distance itself from its ailing parent, Centro Properties Group, by appointing at least two new directors to create an independent board, as the latter works towards securing relief from a $5 billion debt due in a fortnight... |
| CNP | CENTRO PROPERTIES GROUP | Centro Properties Continues Debt Talks as Receivership Looms (Bloomberg) Centro Properties Group, the owner of 794 shopping malls in the U.S., Australia and New Zealand, is continuing talks with lenders to extend more than $4.5 billion of borrowings by Dec. 15 after failing to raise new capital... |
| CNP | CENTRO PROPERTIES GROUP | Centro tight-lipped in debt negotiations (The Sydney Morning Herald) Centro Properties Group walked a tightrope between its securityholders and bankers on Friday, refusing to disclose information that may give away its negotiating tactics aimed at securing a 12-month extension to refinance its debt... |
| CNP | CENTRO PROPERTIES GROUP | Centro trust to go independent (The Sydney Morning Herald) CENTRO RETAIL TRUST will push ahead with plans to distance itself from its ailing parent, Centro Properties Group, by appointing at least two new directors to create an independent board, as the latter works towards securing relief from a $5 billion debt due in a fortnight... |
| CUO | COPPERCO | Receivers move into CopperCo as banks refuse to refinance (The Australian) COPPERCO, which operates the Lady Annie copper mine in Queensland, has joined a growing list of junior miners calling in administrators as banks close their doors to debt refinancing... |
| DJS | DAVID JONES | Investors turn on David Jones Amex card (The Sydney Morning Herald) David Jones Ltd shareholders don't appear to like the retailer's new store-branded American Express credit card but the retailer says it will buffer the store against the economic downturn... |
| DJS | DAVID JONES | Retail on the nose (The Sydney Morning Herald) Has the investment community fallen out of love with Gerry Harvey, or the retail sector in general? Over at Goldman Sachs JBWere on Tuesday they recommended investors "stay miles away from JB Hi-Fi, David Jones and Harvey Norman" in an institutional dealing-desk note by Richard Coppleson... |
| EFT | EFTEL | EFTel forecasts loss, enters deal (WA Business News) EFTel has forecast a loss making December half of over $2 million as it enters into a partnership with internet service provider Dodo to help deliver its BroadbandNext network... |
| FXJ | FAIRFAX MEDIA | Fairfax falling (The Australian) IT'S not exactly a "technical support level", to use stock market jargon, but shares in Fairfax Media this week suffered the ignominy of slipping below the $1.30 cover price of the company's flagship newspaper, The Sydney Morning Herald, for the first time... |
| FXJ | FAIRFAX MEDIA | Fairfax Media board agitation (The Australian) THE board of Fairfax Media held an unscheduled meeting in Sydney yesterday, without managing director David Kirk... |
| HVN | HARVEY NORMAN HOLDINGS | Retail on the nose (The Sydney Morning Herald) Has the investment community fallen out of love with Gerry Harvey, or the retail sector in general? Over at Goldman Sachs JBWere on Tuesday they recommended investors "stay miles away from JB Hi-Fi, David Jones and Harvey Norman" in an institutional dealing-desk note by Richard Coppleson... |
| JBH | JB HI-FI | Retail on the nose (The Sydney Morning Herald) Has the investment community fallen out of love with Gerry Harvey, or the retail sector in general? Over at Goldman Sachs JBWere on Tuesday they recommended investors "stay miles away from JB Hi-Fi, David Jones and Harvey Norman" in an institutional dealing-desk note by Richard Coppleson... |
| MAK | MINEMAKERS | Minemakers acquires iron ore project (WA Business News) Minemakers expects to partner up with a foreign firm to develop an iron ore operation in the south of the state, after today exercising an option to purchase 80 per cent of the project... |
| MMX | MURCHISON METALS | Oakajee agreement deadline pushed back (WA Business News) The state government says it will wait for an indication of federal funding for the $1.5 billion development of the Oakajee port and rail project before finalising an agreement with the proponent... |
| MQG | MACQUARIE GROUP | Macquarie chairman to leave for six months after cancer diagnosis (The Australian) DAVID Clarke, the chairman of investment bank Macquarie, has been diagnosed with cancer and will leave the bank for six months... |
| MQG | MACQUARIE GROUP | Macquarie Chairman Clarke Takes Leave for Cancer (Bloomberg) Macquarie Group Ltd., Australia’s biggest investment bank, said Chairman David Clarke will take leave for six months to undergo treatment for cancer... |
| MQG | MACQUARIE GROUP | A kick for MacBank (The Sydney Morning Herald) Classic MacDonut. The competition regulator has kicked MacBank in the shins for trying to force SCG and SFS fans buying food to use a MacBank-branded credit or debit card. We never figured Silver Doughnuts mixed well with hot dogs.... |
| MQG | MACQUARIE GROUP | Macquarie chairman treated for cancer (The Sydney Morning Herald) Macquarie Group Ltd and Goodman Group chairman David Clarke has cancer and will take a leave of absence from both companies while his illness is treated... |
| NAB | NATIONAL AUSTRALIA BANK | NAB cuts one-year fixed rate to 5.59% (The Sydney Morning Herald) Australia's biggest bank by assets, National Australia Bank Ltd, will cut its one-year fixed home loan rate by one percentage point, to 5.59 per cent... |
| NWS | NEWS CORPORATION | Employment website prepares for a monstering (The Sydney Morning Herald) COMPETITION in the Australian online employment market is set to heat up further after News Ltd revealed it has teamed up with Monster, the world's biggest online job-search operator, to take on its rivals, Seek and Fairfax Media's MyCareer... |
| OMH | OM HOLDINGS | ConsMin buys 11% stake in OM Holdings (WA Business News) Miner OM Holdings says it is seeking to clarify the intentions of Consolidated Minerals, which has bought an 11 per cent stake in the company... |
| OZL | OZ MINERALS | OZ was tardy with Hegarty's margin call (The Australian) OZ Minerals admits being aware that its most high-profile director, Owen Hegarty, was on the verge of a margin call... |
| OZL | OZ MINERALS | OZ Minerals seeks debt extension (The Sydney Morning Herald) OZ Minerals is seeking an extension to debt facilities from its lenders and has sought a suspension in the trading of its shares until the banks respond... |
| PRT | PRIME MEDIA GROUP | Prime says it has learnt Destra lesson (The Sydney Morning Herald) THE chairman of Prime Media Group, Paul Ramsay, has apologised to shareholders for the company's "disastrous" investment in the collapsed digital company Destra, which has wiped out about nine months' worth of earnings... |
| QAN | QANTAS AIRWAYS | Rudd Government considers Qantas ownership restrictions (The Australian) A QANTAS bid to convince the Rudd Government to lift overall restrictions on foreign ownership appears to have foundered... |
| QAN | QANTAS AIRWAYS | Pay-out on pay-out (The Sydney Morning Herald) Poor Dicko. For a while there his farewell was looking promising: apologising for the private equity buy-out attempt and telling suits of his grand achievements... |
| QAN | QANTAS AIRWAYS | Qantas GM's pay 'obscene', investors say (The Sydney Morning Herald) Geoff Dixon has retired as Qantas CEO but not before feeling the ire of shareholders outraged over his $12.2 million package... |
| QAN | QANTAS AIRWAYS | Joyce takes control at Qantas (The Sydney Morning Herald) For James Xenidis, Australia's Qantas Airways isn't as good as it used to be... |
| QAN | QANTAS AIRWAYS | 'Exceptionally challenging times' for Qantas (The Sydney Morning Herald) Qantas Airways, Australia's largest carrier, says it is is well placed to manage the volatile era as the global financial crisis continues to reduce demand for air travel... |
| QAN | QANTAS AIRWAYS | Qantas well placed to manage crisis (The Sydney Morning Herald) Qantas Airways Ltd, Australia's largest carrier, says it is well placed to manage the volatile era as the global financial crisis continues to reduce demand for air travel... |
| QAN | QANTAS AIRWAYS | Dixon faces backlash over pay (The Sydney Morning Herald) QANTAS'S knockabout boss, Geoff Dixon, will mark his last day on a sour note today, facing a backlash over his "excessive" salary that has made him the world's highest-paid airline executive... |
| QAN | QANTAS AIRWAYS | Qantas on sound footing: chairman (WA Business News) Qantas Airways, Australia's largest carrier, has seen a decline in travel demand over the past weeks but says it is well placed to manage the current market volatility... |
| QBE | QBE INSURANCE GROUP | QBE shares stay afloat (The Sydney Morning Herald) Strong demand from domestic and overseas institutional shareholders helped the global insurer QBE's $2 billion fund-raising exercise and kept its share price well ahead of the discounted placement offer terms of $20.50 yesterday... |
| RBM | REDBANK MINES | Kiernan to lift stake in Redbank to 40% (The Sydney Morning Herald) Mining identity Michael Kiernan says he will double his stake in cash-strapped copper and gold producer Redbank Mines Ltd whose chairman Kim McGrath stood down on Friday, citing personal reasons... |
| RIO | RIO TINTO | Chinese whispers (The Australian) IS it possible that Chinalco took some perverse pleasure in its spokesman being misquoted in the press regarding the aluminium giant's aspirations for Rio Tinto? Reuters yesterday published a statement by Chinalco's vice-president Lu Youqing that the company's leaders were considering "49.99 per cent" of the share capital of Rio Tinto... |
| RIO | RIO TINTO | Alumina (AWC) $1.30; Rio Tinto (RIO) $42.85 (The Australian) WHEN Rio Tinto bid $US38 billion for Alcan in July last year, the splurge was easy to justify. Being light, strong and fuel-efficient, aluminium is the metal of the future... |
| RIO | RIO TINTO | Cazaly fights Rio for Rhodes Ridge asset (The Sydney Morning Herald) Feisty iron ore explorer Cazaly Resources Ltd is set for another legal stoush with mining giant Rio Tinto Ltd next week, this time over the Rhodes Ridge project... |
| RIO | RIO TINTO | Deal's dead, now for the fees (The Sydney Morning Herald) If you have tears, prepare to shed them now... |
| RIO | RIO TINTO | BHP set for next tilt (The Sydney Morning Herald) IT IS back to basics for BHP Billiton... |
| RIO | RIO TINTO | Warped view back to earth with thud (The Sydney Morning Herald) THE conception, the fight, the strategy and the ultimate abandonment of BHP Billiton's bid for Rio Tinto will be the subject of autopsy for a long time to come... |
| RIO | RIO TINTO | BHP ratings upgraded while Rio suffers (WA Business News) BHP Billiton has emerged from its decision to dump a $100 billion-plus takeover for rival Rio Tinto Ltd with 'buy'recommendations from analysts, while Standard & Poor's has maintained its rating for Rio but warns of a downgrade... |
| RRA | RR AUSTRALIA | RR Australia (RRA) 46c (The Australian) AS a renter of chattels and a short-term loan provider, Radio Rentals is well placed to capitalise on the economic tempest at the expense of the likes of Harvey Norman... |
| RRA | RR AUSTRALIA | Radio Rentals posts 29% profit increase (The Sydney Morning Herald) Home appliance and rental company RR Australia Ltd, which trades as Radio Rentals, has reported a 29 per cent lift in half-year net profit on growing demand for flat panel TVs and computers... |
| RRT | RECORD REALTY | Capital-hungry Allco seeks new manager (The Australian) ALLCO'S struggling Record Realty Trust is looking for a new manager to inject fresh capital into the listed property trust... |
| SGH | SLATER & GORDON | Centro acts to cut losses from class actions (The Australian) CENTRO will seek a negotiated settlement of its two shareholder class actions to reduce losses from a potential $1 billion claim... |
| SGT | SINGAPORE TELECOMMUNICATIONS | Alphawest axes 33 staff (The Australian) OPTUS'S services arm Alphawest has made 33 employees redundant including senior and middle management as the global credit crunch continues to put pressure on local balance sheets... |
| SGT | SINGAPORE TELECOMMUNICATIONS | Telstra slams Optus broadband bid (WA Business News) Telstra has labeled rival Optus' national broadband network bid 'sub-prime' after calling into question an alleged $8 billion funding hole... |
| TAL | TOWER AUSTRALIA GROUP | Tower Australia (TAL) $2.04 (The Australian) THE once-tottering life insurer validates Criterion's theory that entities that came to grief earlier on (and made tough reforms) are now well-placed in a bear market... |
| TAL | TOWER AUSTRALIA GROUP | Towering profits (The Sydney Morning Herald) It may not operate in the most sexiest of industries but Tower Australia is making the most of its position as the fourth biggest life insurer in the country... |
| TLS | TELSTRA CORPORATION | NEC unit inks Telstra ADSL2+ contract (The Australian) TELSTRA has continued its push to wholesale ADSL2+ services, signing up NEC's internet wholesale arm, Nextep... |
| TLS | TELSTRA CORPORATION | Investors hang up on Telstra's broadband bid (The Sydney Morning Herald) A $9 billion proposal was not enough to stop the shares sliding... |
| TLS | TELSTRA CORPORATION | Telstra slams Optus broadband bid (WA Business News) Telstra has labeled rival Optus' national broadband network bid 'sub-prime' after calling into question an alleged $8 billion funding hole... |
| VBA | VIRGIN BLUE HOLDINGS | Virgin Blue prepares for 'tough times' (The Sydney Morning Herald) Low cost carrier Virgin Blue has deferred some capital expenditure for the fiscal 2009 year due to challenging conditions in aviation markets and said it has no need to raise fresh capital... |
| WOW | WOOLWORTHS | Woolies: let us grow (The Sydney Morning Herald) WOOLWORTHS has attempted to use the looming economic downturn as leverage to ensure the Government does not pass laws which could hinder its expansion, by boasting about how many jobs it creates and its contribution to the nation's economy... |
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