10/06/2008 - 06:49

Today's Business Headlines

10/06/2008 - 06:49

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WA grapples with energy shortfall; Burrup float in jeopardy; Investment banks' fees fall 27pc; Ship costs jump lifts BHP, Rio case; Bankrupted, but Cumins vows one last tax appeal

Today's Business Headlines


WA grapples with energy shortfall
The West Australian government has embarked on an urgent plan to reshuffle the state's reduced energy supplies, as the fallout spreads from last week's explosion on Varanus Island, the source of a third of the state's gas. The Fin Review

Burrup float in jeopardy
There was mounting speculation last night that the $2.5 billion float of Burrup Holdings may have to be pulled for a second time amid fears the gas crisis gripping WA could slash tens of million of dollars from the fertiliser maker's 2009 profit forecast. The West

Investment banks' fees fall 27pc
Fees racked up by Australia's top investment banks have slumped by 27 per cent so far this year according to global research house Thomson Reuters, as the US sub-prime crisis and resultant credit crunch continue to crimp local market activity. The Australian

Ship costs jump lifts BHP, Rio case
Rio Tinto and BHP have received a big boost in their iron ore price stand-off with China's steel mills after the cost of chartering ships soared to a record $243,083 a day last week, an increase of almost 200 per cent since the start fo the year. The West

Bankrupted, but Cumins vows one last tax appeal
The Australian Taxation Office has forced Cash Converters' founder Brian Cumins into bankruptcy after a decade-long probe into his financial affairs. The West

 

THE WEST AUSTRALIAN

There was mounting speculation last night that the $2.5 billion float of Burrup Holdings may have to be pulled for a second time amid fears the gas crisis gripping WA could slash tens of million of dollars from the fertiliser maker's 2009 profit forecast.

Rio Tinto and BHP have received a big boost in their iron ore price stand-off with China's steel mills after the cost of chartering ships soared to a record $243,083 a day last week, an increase of almost 200 per cent since the start fo the year.

Sinosteel Corp is fast approaching majority control of takeover target Midwest Corp amid expectations it will announce as early as today taht its stake has risen to about 44 per cent.

The Australian Taxation Office has forced Cash Converters' founder Brian Cumins into bankruptcy after a decade-long probe into his financial affairs.



 

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