04/06/2008 - 06:43

Today's Business Headlines

04/06/2008 - 06:43

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Action on corporate collapses; Bankwest says it's safe despite sale rumours; Brierty sticks with same line as exchange steps up pressure; Metcash profit leaps but warns on volatility; Suncorp takes a $15m punt on WA's sunshine

Action on corporate collapses
Laws governing property spruikers, the $2 billion reverse mortgage industry and the kind of debenture products that triggered the multimillion-dollar collapses of Westpoint and Fincorp will be tightened under sweeping reforms to the financial services industry. The Australian

Bankwest says it's safe despite sale rumours
Bankwest yesterday moved to reassure customers that the Perth-based bank was as '' safe'' as any of the major lenders in Australia amid speculation that its parent company, Britishbased Halifax Bank of Scotland (HBOS), might sell its Australian arm. The Australian

Brierty sticks with same line as exchange steps up pressure
Civil construction group Brierty remains under pressure from the Australian Securities Exchange, which has stepped up its probe into the circumstances leading up to the company's profit downgrades in April and May.The West

Metcash profit leaps but warns on volatility
Supermarket giant Metcash has refused to comment on how deregulated trading in WA would hit the group's bottom line, despite saying it would make for a "very, very volatile" trading environment in the State. The West

Suncorp takes a $15m punt on WA's sunshine
Australia's sixth-biggest bank will launch an ambitious $15 million expansion in WA over the next two years in the hope the State will emulate its highly successfull Queensland market. The West


THE WEST AUSTRALIAN

Business: The Federal Government could take regulatory control over margin lenders amid suggestions retail investors do not understand the risks involved in taking out a margin loan.

Civil construction group Brierty remains under pressure from the Australian Securities Exchange, which has stepped up its probe into the circumstances leading up to the company's profit downgrades in April and May.

Supermarket giant Metcash has refused to comment on how deregulated trading in WA would hit the group's bottom line, despite saying it would make for a "very, very volatile" trading environment in the State.

Takeover target Ausdrill is expected to sweeten its profit forecast and unveil a new contract this week in a bid to flush out a potential counter bid or squeeze a better offer from hostile suitor Macmahon Holdings.

Australia's sixth-biggest bank will launch an ambitious $15 million expansion in WA over the next two years in the hope the State will emulate its highly successfull Queensland market.


STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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