29/04/2008 - 06:10

Today's Business Headlines

29/04/2008 - 06:10

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Investors ride Wesfarmers; ANZ broke law on Opes, Panel declares; Business hit with $7bn emission bill; Downgrade threatens IAG's merger resistance; AHG fails as Boyd pulls pin

Investors ride Wesfarmers
Investors yesterday sent Wesfarmers a vote of confidence by pushing the stock as much sa 4 per cent higher after 11 days on the sidelines.

ANZ broke law on Opes, Panel declares
The Takeovers Panel has ruled that ANZ broke the law -- the substantial shareholder provisions of the Corporations Act -- through its seizure of a 26 per cent BioProspect stake in the Opes Prime debacle. The Australian

Business hit with $7bn emission bill
Business will be forced to spend up to $7 billion rebuilding corporate computer system and overhauling workplaces to meet the federal government stringent new greenhouse gas reporting requirements. The Fin Review

Downgrade threatens IAG's merger resistance
The chief executive of Insurance Australia Group, Michael Hawker, has vowed to stay at the insurer's helm in an effort to double its size, after another earnings downgrade undermined IAG's fight against a $7.5 billion takeover bid by QBE. The Australian

AHG fails as Boyd pulls pin
Balcatta's Advance Healthcare Group has been put into the hands of administrators after its major shareholder and creditor, Michael Boyd's Fulcrum Equity, pulled its financial support for the pharmaceutical wholesaler. The West

 

THE WEST AUSTRALIAN

Business: Investors yesterday sent Wesfarmers a vote of confidence by pushing the stock as much sa 4 per cent higher after 11 days on the sidelines.

Fortescue Metals Group has pushed back plans for a high-profile opening ceremony for its $2.8 billion Pilbara mine-to-port project by several months until it is operating at a rate of 24 million tonnes a year.

Balcatta's Advance Healthcare Group has been put into the hands of administrators after its major shareholder and creditor, Michael Boyd's Fulcrum Equity, pulled its financial support for the pharmaceutical wholesaler.



 

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