Today's Business Headlines

14/11/2007 - 06:28

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Burke faces threat of charges; Stand-off over merger bid; 'Deeper, darker scarier' warning unnerves investors; Steven Goh back with Bell tilt at online trades; PM banks on budget revenue surge.

Today's Business Headlines

Burke faces threat of charges
A Western Australian upper-house committee has recommended criminal charges be laid against former premier Brian Burke, and former Liberal Senator Noel Crichton Brown, for giving false evidence to a state parliamentary inquiry. The Australian

Stand-off over merger bid
BHP Billiton Marius Kloppers and his counterpart at reluctant merger target Rio Tinto, Tom Albanese, are whizzing around London Seeking to secure shareholder support for their opposing positions in what has become a $400 billion stand-off. The West

'Deeper, darker scarier' warning unnerves investors
Private equity giant Blackstone Group says the subprime crisis is much "deeper" than first thought by banks. The Fin Review

Steven Goh back with Bell tilt at online trades
Wunderkid Steven Goh, whose Sanford Securities helped define the online trading market during the dot-com boom only to falter and fall to a hostile takeover, is returning with a venture backed by stockbroker Bell Potter Securities. The West

PM banks on budget revenue surge
The budget surplus could be 50 per cent greater than the $14.4 billion forecast, Prime Minister John Howard says. The Fin Review

 

THE WEST AUSTRALIAN
Page 1: Politicians, lobbyists, businessmen and lawyers have all been found guilty of varying degrees of contempt by a secretive parliamentary committee and face sanctions ranging from criminal charges to a slap on the wrist.

The company which loomed as the best private competitor to the State owned generator Verve Energy in the WA electricity market has shelved its expansion plans because of the sharp rise in domestic gas prices.

As Australian farmers harvest their drought-shrunken crop, growers in [arts of the Southern Wheatbelt have emerged among the fortunate few who have enjoyed a solid season allowing them to capitalize on high global grain prices.

Business: BHP Billiton Marius Kloppers and his counterpart at reluctant merger target Rio Tinto, Tom Albanese, are whizzing around London Seeking to secure shareholder support for their opposing positions in what has become a $400 billion stand-off.

Wunderkid Steven Goh, whose Sandford Securities helped define the online trading market during the dot-com boom only to falter and fall to a hostile takeover, is returning with a venture backed by stockbroker Bell Potter Securities.

The financial chief of ERG said yesterday the troubled ticketing group would look at legal options to recover $80 million spent on its Sydney ticketing contract if the NSW Government pulled the plug next month.

News Corp chairman Rupert Murdoch yesterday assured investors the company had made a strong start to the second quarter but warned that the global credit market squeeze would create more shocks.

 

THE AUSTRALIAN FINANCIAL REVIEW

Page 1: The budget surplus could be 50 per cent greater than the $14.4 billion forecast, Prime Minister John Howard says. Private equity giant Blackstone Group says the subprime crisis is much "deeper" than first thought by banks. BHP Billiton chief Marius Kloppers will fly to Shanghai next week to persuade Chinese resource customers of the mining giant's proposed takeover of rival Rio Tinto is in their best interests. Infrastructure and property, and strong Australian and Asian operations, will see Macquarie Group post a $1.06 billion first half profit.

Page 3: Telco giant Telstra has told the High Court it is being denied just compensation for giving rivals access to its network.

World: The Bank of Japan has decided against lowering interest rates after third quarter data showed the country had averted a recession. (Tokyo)

Market: The Australian stock market rose in trading yesterday, buoyed by financial stocks, and in spite of a weak US lead.



THE AUSTRALIAN

Page 1: Opposition leader Kevin Rudd's promise that private schools would not be worse off under a Labor government has been undermined by high profile candidate Mike Kelly. The headmaster at elite Sydney private school King's says tax rebates for school fees should be means tested, in contrast to an election promise by Prime Minister John Howard made on Monday. Prime Minister John Howard says a pledge to keep budget surpluses at one per cent of gross domestic product (GDP) has not been damaged by his multi-billion election promises. A Western Australian upper-house committee has recommended criminal charges be laid against former premier Brian Burke, and former Liberal Senator Noel Crichton Brown, for giving false evidence to a state parliamentary inquiry.

Page 3: Top partners at accounting firm PricewaterhouseCoopers supported a colleague accused of sexual discrimination, even though they knew he was not "squeaky clean", court documents have revealed.

Business: A merger between mining giants BHP Billiton and Rio Tinto would lead to the quicker extraction of Australia's iron ore resources, BHP head Marius Kloppers says.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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