29/05/2008 - 07:39

Today's Business Headlines

29/05/2008 - 07:39

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Grand plan to build six island hubs off north Freo coast; We will not pay more for Midwest: Sinosteel; ASX probes Brierty over shock profit downgrades; Failed Opes was $721m short; Qantas axes routes on fuel pain

Grand plan to build six island hubsoff north Freo coast
An ambitious $10 billion plan to build six islands across 345ha of seabed at Fremantle's North Quay, including houses offices, hotels and schools will be launched today by a consortium of some of Perth's leading property developers and wealthiest businessmen. The West

We will not pay more for Midwest: Sinosteel
China Inc has displayed first signs of financial discipline in its hiherto frantic grab for equity positions in Australia's resource sector, with the country's biggest steel trader Sinosteel Steel, declaring its $1.4 billion cash bid for Midwest Corp final. The West

ASX probes Brierty over shock profit downgrades
The Australian Securities Exchange has waded into the $75 million collapse of civil construction group Brierty, saying yesterday it was "looking closely" at the level of market disclosure by the company surrounding its two horror profit warnings of the past six weeks. The West

Failed Opes was $721m short
Stockbroker Opes Prime collapsed in March with an estimated asset deficit of $721.6 million, including $579.2 million owed to clients who now rank as unsecured creditors, according to the receiver Deloitte. The Australian

Qantas axes routes on fuel pain
Qantas will ground aircraft, cut some domestic and international routes and consider laying off staff in an attempt to offset its soaring fuel bill. The Fin Review


THE WEST AUSTRALIAN

An ambitious $10 billion plan to build six islands across 345ha of seabed at Fremantle's North Quay, including houses offices, hotels and schools will be launched today by a consortium of some of Perth's leading property developers and wealthiest businessmen.

Business: China Inc has displayed first signs of financial discipline in its hiherto frantic grab for equity positions in Australia's resource sector, with the country's biggest steel trader Sinosteel Steel, declaring its $1.4 billion cash bid for Midwest Corp final.

The Australian Securities Exchange has waded into the $75 million collapse of civil construction group Brierty, saying yesterday it was "looking closely" at the level of market disclosure by the company surrounding its two horror profit warnings of the past six weeks.

 



 

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