03/07/2008 - 06:41

Today's Business Headlines

03/07/2008 - 06:41

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Carbon scheme 'may kill' exporters; Receivers go into Elderslie; Spending hit exposes Lew's target; St George Westpac merger uncertain; RCR chief resigns as woes take toll


Carbon scheme 'may kill' exporters
Many of the nation's biggest employers, including building products manufacturers and mineral processors, will be forced to close or move their operations offshore unless they get special treatment under the planned emission trading scheme, a business lobby group has warned.The West

Receivers go into Elderslie
Struggling investment group Elferslie Finance fell into receivership yesterday after a final-hour bid by lawyers for the Perth-founded group failed to buy it more time to come up with a rescue package. The West

Spending hit exposes Lew's target
Sliding June consumer spending has dealt a serious blow to Just Group's defence against Solomon Lew's $950 million takeover bid. The Australian

St George Westpac merger uncertain
Shares in St George Bank are edging into alignment with the terms offered by suitor Westpac, with the target's premium now at its narrowest since the takeover was announced in May. The Australian

RCR chief resigns as woes take toll
RCR Tomlinson boss John Noordhoek has stepped down as chief executive of the engineering group after a two-year reign punctuated by a 66 per cent share price decline and a series of profit downgrades. The West

 

THE WEST AUSTRALIAN

Many of the nation's biggest employers, including building products manufacturers and mineral processors, will be forced to close or move their operations offshore unless they get special treatment under the planned emission trading scheme, a business lobby group has warned.

Business: Struggling investment group Elferslie Finance fell into receivership yesterday after a final-hour bid by lawyers for the Perth-founded group failed to buy it more time to come up with a rescue package.

RCR Tomlinson boss John Noordhoek has stepped down as chief executive of the engineering group after a two-year reign punctuated by a 66 per cent share price decline and a series of profit downgrades.

Royal Dutch Shell has asked three groups to tender for a floating liquiefied gas facility, in the clearest sign yet the Anglo-Dutch energy giant is eyeing an offshore LNg processing plan for its massive Prelude gasfield in the Browse Basin off Broome.

Australians have felt the pain inflicted by sharemarket falls and rising interest rates but it's been a good four years for most, with net household wealth surging more than 50 per cent between 2002 and 2006.


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