12/06/2008 - 06:49

Today's Business Headlines

12/06/2008 - 06:49

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WA gas crisis strikes Babcock' debt plan; Guinea threatens Rio's key asset; Future Fund gives banks helping hand; Adviser UBS postpones $2.5b Burrup float on gas impact; Top Carpenter aide handed tough industry, resources job

Today's Business Headlines


WA gas crisis strikes Babcock' debt plan
Babcock & Brown's attempt to finalise a $2.7 billion debt refinancing has been dealt a serious blow after ratings agency Moody's investors Service warned the Alinta parent was hovering dangerously close to a sub-investment garde debt rating becasue of its exposure to the WA gas crisis. The West

Guinea threatens Rio's key asset
Rio Tinto's key asset to battle a $177 billion BHP Billiton bid is on shaky ground as the West African nation of Guinea threatens to withdraw rights to mine. The Australian

Future Fund gives banks helping hand
As the global credit crunch forces banks to look for alternate sources of capital, the Future Fund has provided $500 million of debt funding to Australia and New Zealand Banking Group. The Fin Review

Adviser UBS postpones $2.5b Burrup float on gas impact
Indian businessman Pankaj Oswal's ambition to list his Pilbara fertiliser company Burrup Holdings, is under a cloud following lead manager UBS decision yesterday to postpone the $2.5 billion float.The West

Top Carpenter aide handed tough industry, resources job
The incoming chief of the Deartment of Industry and Resources says she will use her contacts in the WA energy sector to build stronger relationaships with industry as her new department faces growing pressures to deal with the workload accompanying the China-fuelled boom. The West

 

THE WEST AUSTRALIAN

Business: Babcock & Brown's attempt to finalise a $2.7 billion debt refinancing has been dealt a serious blow after ratings agency Moody's investors Service warned the Alinta parent was hovering dangerously close to a sub-investment garde debt rating becasue of its exposure to the WA gas crisis.

Retail sales growth is set to take a nosedive over the next year as households slash their spending in response to higher prices, a forecaster has found.

Indian businessman Pankaj Oswal's ambition to list his Pilbara fertiliser company Burrup Holdings, is under a cloud following lead manager UBS decision yesterday to postpone the $2.5 billion float.

Rio Tinto has suffered its darkest day in its defence against BHP Billiton's scrip offer, with a wild mix of political intrigue and raising doubts over its highly promoted $6.3 billion Simandou iron ore project in Guinea.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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