02/07/2008 - 06:40

Today's Business Headlines

02/07/2008 - 06:40

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BHP poised to match Rio's massive iron ore price leap; Boom sends city rents soaring to Paris levels; China warns Labor on curbs; Iluka gets lift from BHP success; Market debutant fuels frenzy over phosphate

Today's Business Headlines

BHP poised to match Rio's massive iron ore price leap
BHP Billiton is expected to conclude its iron ore price negociation in the next few days with agreement that more or less matches the average 85 per cent price increase secured for Pilbara iron ore exports in 2008-09 by its takeover target Rio Tinto. The West

Boom sends city rents soaring to Paris levels
WA's resources boom is driving the cost of office space in Perth through the roof, with rents poised to break through the $1000 per sqm barrier by the end of the year, making city accomodation more expensive than Melbourne and on a par with Paris. The West

China warns Labor on curbs
Beijing has turned up the heat on the simmering controversy over Chinese investment in Australia, with its ambassador saying that Chinese firms are '' puzzled'' by official delays over approving their foriegn investment approvals. The Australian

Iluka gets lift from BHP success
While struggling recently with its mineral sands operations, Iluka Resources has been a big beneficiary of iron ore price gains and expansions, with a royalty stake in BHP Billiton ground helping send shares soaring 40 per cent in the past two weeks. The Australian

Market debutant fuels frenzy over phosphate
Phosphate Australia tripled on its sharemarket debut yesterday as it became the latest in a swag of juniors looking to cash in on an 800 per cent rise in the phosphate prices. The West


THE WEST AUSTRALIAN

WA's resources boom is driving the cost of office space in Perth through the roof, with rents poised to break through the $1000 per sqm barrier by the end of the year, making city accomodation more expensive than Melbourne and on a par with Paris.

Business: BHP Billiton is expected to conclude its iron ore price negociation in the next few days with agreement that more or less matches the average 85 per cent price increase secured for Pilbara iron ore exports in 2008-09 by its takeover target Rio Tinto.

Phosphate Australia tripled on its sharemarket debut yesterday as it became the latest in a swag of juniors looking to cash in on an 800 per cent rise in the phosphate prices.

Euroz directors and staff stand to pocket at least $35 million in bonuses and dividends after the listed Perth stockbroker yesterday announced a near-doubling in annual profit and a record dividend.


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