20/05/2008 - 06:16

Today's Business Headlines

20/05/2008 - 06:16

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IAG spurns QBE's revised offer; Burrup says Apache deal ends gas shortfall fears; BHP pushes ship rates to record; Predators line up for bite at Albidon nickel; Woodside breaks $70 as resources stocks boom

Today's Business Headlines


IAG spurns QBE's revised offer
QBE Insurance chief Frank O'Halloran's ambition of owning Insurance Australia Group appears doomed, after its prey rebuffed a second revised and '' final proposal'' offer valued at $8.7 billion. The Australian

Burrup says Apache deal ends gas shortfall fears
Indian billionaire Pankaj Oswal has moved to end fears his Burrup Holdings fertiliser operation will run out of gas within seven years, confirming yesterday that Apache Energy had garanteed to meet any supply shortfalls until 2030. The West

BHP pushes ship rates to record
BHP Billiton appears to have moved to exploit the Chinese boycott of its rival Rio Tinto on spot iron ore markets by chartering a large number of bulk carrier ships -- and has pushed ship charter rates to new records in the process. The Australian

Predators line up for bite at Albidon nickel
Takeover predators are circling the $715 million emerging nickel group Albidon after a 20.5 per cent stake held by Lion Selection was put on the chopping block. The West


Woodside breaks $70 as resources stocks boom
Woodside Resources briefly punched through the $70-a-share mark for the first time yesterday as oil prices lingered near Friday's all-time high of the $US128 a barrel. The West

THE WEST AUSTRALIAN

Construction union secretary Kevin Reynolds hit back yesterday in the battle for control of the WA building union, branding his challenger Darren Kavanagh a political want-to-be who aimed to catch the top job to further his Labor Party ambitions.

Business: Indian billionaire Pankaj Oswal has moved to end fears his Burrup Holdings fertiliser operation will run out of gas within seven years, confirming yesterday that Apache Energy had garanteed to meet any supply shortfalls until 2030.

Global insurer QBE is on the verge of walking away from its hoped-for merger with domestic rival Insurance Australia Group after its target yesterday rejected a third and seemingly last takeover offer worth $8.7 billion.

Woodside Resources briefly punched through the $70-a-share mark for the first time yesterday as oil prices lingered near Friday's all-time high of the $US128 a barrel.

Takeover predators are circling the $715 million emerging nickel group Albidon after a 20.5 per cent stake held by Lion Selection was put on the chopping block.


 

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