01/07/2008 - 06:39

Today's Business Headlines

01/07/2008 - 06:39

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Pundits tip rough ride on way back to 6000; Mittal enters battle for control of Rio Tinto; Banks let Babcock off hook; Kiernan plans Territory sell-down in Monarch rescue plan; Windimurra seeks in-the-money options nod to reward directors

Pundits tip rough ride on way back to 6000
The stockmarket is tipped to recover to 6000 points over the next year but investors should brace for another rough ride as record oil prices, further economic bad news from the US and the threat of a global recession continues to take their toll. The West

Mittal enters battle for control of Rio Tinto
Lakshmi Mittal, head of steel giant ArcelorMittal, is rumoured to be looking at entering the multi-billion-dollar takeover battle for Rio Tinto -- a move analysts predict is highly likely. The Australian

Banks let Babcock off hook
Embattled investment house Babcock & Brown will overhaul its business model, reducing reliance on its balance sheet and avoiding a massive fire sale as a result of 25 banks agreeing to continue providing a $2.8 billion loan facility. The Australian

Kiernan plans Territory sell-down in Monarch rescue plan
Michael Kiernan is thought to have been in Hong Kong yesterday trying to sell his $18 million stake in iron ore producer Territory Resources as part of a desperate mission to save the stricken Monarch Gold Mining. The West

Windimurra seeks in-the-money options nod to reward directors
Windimurra Vanadium wants shareholders to approve the issue of millions of in-the-money options to its board as an incentive to improve the company's performance. The West

 

THE WEST AUSTRALIAN

Kerry Sanderson has quit as head of Fremantle Ports after a 17-year reign, sparking speculations that one of WA's most experienced bureaucrats is about to take up another high-profile job with the State public service.

Australia's big four banks are the most profitable in the developed world and managed to thrive last year despite the global credit crunch, a report shows.

Business: The stockmarket is tipped to recover to 6000 points over the next year but investors should brace for another rough ride as record oil prices, further economic bad news from the US and the threat of a global recession continues to take their toll.

Windimurra Vanadium wants shareholders to approve the issue of millions of in-the-money options to its board as an incentive to improve the company's performance.

A revised deal with banks to cuts its borrowing needs to $2.4 billion has secured Babcock & Brown's release from a market capitalisation hook that ahd threatened to add its name to the list of recent high-profile corporate debt casualties.

Michael Kiernan is thought to have been in Hong Kong yesterday trying to sell his $18 million stake in iron ore producer Territory Resources as part of a desperate mission to save the stricken Monarch Gold Mining.


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