05/06/2008 - 06:41

Today's Business Headlines

05/06/2008 - 06:41

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Midwest investor swing to Sinosteel; Rudd to drive Asian union; Opes director recanted fraud claim; Burrup eyes early shutdown as gas dwindles; Upgrade by Ausdrill fails to impress

Today's Business Headlines


Midwest investor swing to Sinosteel
One of Midwest Corp's biggest shareholders has silenced accusations by Sinosteel of abetting deputy chairman David Law's tight grip on the WA iron ore miner by selling its stake to the Chinese suitor's $1.4 billion cash bid. The West

Rudd to drive Asian union
Kevin Rudd will push for the creation of an EU style Asia-Pacific Union by 2020, appointing Richard Woolcott as a special envoy to lobby leaders in the region. The Australian

Opes director recanted fraud claim
An Opes Prime director signed a document in March where he withdrew his allegations of fraud inside the collapsing stockbroker, saying the statements were speculative, made in haste and were '' without any factual or evidentiary basis''. The Australian

Burrup eyes early shutdown as gas dwindles
Burrup Holdings is poised to bring forward a major maintenance shutdown of its Pilbara fertiliser plant after struggling to secure enough gas to keep the operation going in the wake of Apache Corp's Varanus Island explosion. The West

Upgrade by Ausdrill fails to impress
A rare earnings upgrade by Ron Sayers' drilling contracting group, Ausdrill, failed to make an impression on either investors or its hostile suitor yesterday. The West

 

THE WEST AUSTRALIAN

Business: One of Midwest Corp's biggest shareholders has silenced accusations by Sinosteel of abetting deputy chairman David Law's tight grip no the WA iron ore miner by selling its stake to the Chinese suitor's $1.4 billion cash bid.

Burrup Holdings is poised to bring forward a major maintenance shutdown of its Pilbara fertiliser plant after struggling to secure enough gas to keep the operation going in the wake of Apache Corp's Varanus Island explosion.

A rare earnings upgrade by Ron Sayers' drilling contracting group, Ausdrill, failed to make an impression on either investors or its hostile suitor yesterday.

The head of the peak industry body representing stockbrokers and investment banks has warned that proposed changes to the way margin lenders are regulated could increase costs.


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