26/06/2008 - 06:30

Today's Business Headlines

26/06/2008 - 06:30

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Futuris profit warning sparks calls for change; Limit on state-owned investment; Kiernan pressures Territory to save Monarch; BHP, Exxon in $1.5bn gas project; Pratt pursuit 'not personal'

Today's Business Headlines


Futuris profit warning sparks calls for change
Investors have demanded a management shake-out at Futuris after the rural conglomerate stunned the sharemakret yesterday with a rpofit warning that sent the stock plunging 27 per cent to a 14-year low. The West

Limit on state-owned investment
The federal government has delayed an attempt by a Chinese company to buy into a West Australian iron ore miner, signalling a tougher approach to Chinese investment. The Australian

Kiernan pressures Territory to save Monarch
Michael Kiernan warned last night he would put admninistrators into Monarch Gold Mining by the end of the week if the struggling miner's biggest shareholder, Territory Resources, refused to provide a financial lifeline. The West

BHP, Exxon in $1.5bn gas project
BHP Billiton and ExxonMobil are expected to approve the $1.5 billion development of the Turrum gas and oil field in Bass Strait late next month in what will become the biggest offshore gas development yet to supply the east coast. The Australian

Pratt pursuit 'not personal'
Competition regulator Graeme Samuel has hit out at suggestions the pursuit of businessman Richard Pratt was the result of any personal emmity between the men. The Fin Review

 

THE WEST AUSTRALIAN

Business: Investors have demanded a management shake-out at Futuris after the rural conglomerate stunned the sharemakret yesterday with a rpofit warning that sent the stock plunging 27 per cent to a 14-year low.

Back in 1989 when Robert Holmes a Court's right-hand man and prominent deal-maker, Alan Newman, first took up the challenge of running Futuris, the dream of establishing a vibrant rural conglomerate was still alive.

Michael Kiernan warned last night he would put admninistrators into Monarch Gold Mining by the end of the week if the struggling miner's biggest shareholder, Territory Resources, refused to provide a financial lifeline.

Perth coal-to-electricity proponent Aviva corp is standing by its beleaguered senior executive Mark Chatfield who faces court in Queensland next week over allegations he used inside inforation to buy shares in another gorup, PearlStreet.

A coalition of manufacturers has attcked the Green Building Council of Australia over its green star rating method, alleging it is not fair or truly sustainable.


STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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