Today's Business Headlines

Coal prices surge more than 200%
Asian steel mills and utilities have reinforced demand for Australian commodities by agreeing to lift coal prices as much as 215 per cent. The West

ANZ flags $1b for bad debts
ANZ Bank has forecast that corporate defaults could increase in Australia, forcing the bank to commit nearly $1 billion to cover potential bad debts. The Australian

Second Opes director in ASIC's sights
The investigation into collapsed stockbroking foirm Opes Prime has widened after a second director, Julian Smith was accused in the Federal Court of manipulating clients' accounts and covering up a $38 million loss in an account in which he had an interest. The Fin Review

BHP's petroleum chief to woo Rio investors
The head of BHP Billiton's petroleum division is poised to enter the takeover battle for Rio Tinto with plans for his first presentation top investors in the takeover target to trumpet the value of his oil and gas business. The West

Shell opts for $2b floating LNG plant at prelude field
Royal Dutch Chell has flagged a $2 billion floating LNG plant for its Prelude gasfield in the Browse Basin in what would be a world first for the industry. The West

THE WEST AUSTRALIAN
Business: Asian steel mills and utilities have reinforced demand for Australian commodities by agreeing to lift coal prices as much as 215 per cent.

The head of BHP Billiton's petroleum division is poised to enter the takeover battle for Rio Tinto with plans for his first presentation top investors in the takeover target to trumpet the value of his oil and gas business.

Royal Dutch Chell has flagged a $2 billion floating LNG plant for its Prelude gasfield in the Browse Basin in what would be a world first for the industry.