16/04/2008 - 06:37

Today's Business Headlines

16/04/2008 - 06:37

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IAG rebuffs $7.6bn QBE takeover bid; Senior executives face ANZ Opes Prime Probe; Atlas wants $100m for faster mining program; Rate rises working, says Reserve Bank; Share sell-off signals end to Kolsen hope for Iluka

Today's Business Headlines

IAG rebuffs $7.6bn QBE takeover bid
Insurance Australia Group has rejected a $7.6 billion takeover offer from QBE Insurance Group. Shareholders of the former MFS face billions of dollars worth of writedowns. The Fin Review

Senior executives face ANZ Opes Prime Probe
Key executives within ANZ's financial institution product arm and its powers of approving tens of millions of dollars of loans are expected to be a major target of the wide-ranging investigation into the bank's links with the failed stockbroker Opes Prime. The West

Atlas wants $100m for faster mining program
Iron ore hopeful Atlas mining is raising $100 million to help fast-track development of its proposed Pilbara mines. The West

Rate rises working, says Reserve Bank
Interest rate rises from the Reserve Bank and private will be enough to slow the economy and bring inflation back under control, the central bank says in the minutes of its last meeting. The Australian

Share sell-off signals end to Kolsen hope for Iluka
The powerful Kolsen consortium, backed by Robert de Crespigny and the Packer family has all but ended its three-year pursuit of Iluka Resources, confirming yesterday it has sold most of its $12.6 million stake in the Perth Mineral sands miner. The West

 

THE WEST AUSTRALIAN
Business: Key executives within ANZ's financial institution product arm and its powers of approving tens of millions of dollars of loans are expected to be a major target of the wide-ranging investigation into the bank's links with the failed stockbroker Opes Prime.

The powerful Kolsen consortium, backed by Robert de Crespigny and the Packer family has all but ended its three-year pursuit of Iluka Resources, confirming yesterday it has sold most of its $12.6 million stake in the Perth Mineral sands miner.

Iron ore hopeful Atlas mining is raising $100 million to help fast-track development of its proposed Pilbara mines.

Embattled takeover target Midwest Crop is likely to as the WA Government for more time to submit its tender for the $1.5 billion Oakajee port project as it battles hostile suitor Sinosteel Corp and faces increasingly fractious relationship with one-time ally Yilgarn Infrastructure.


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