Today's Business Headlines

04/07/2008 - 07:08

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Resources slump leads market carnage; Palmer planning $5b float; Eastwood set to call time after 45 years; US regulators clear BHP Rio bid, now for Europe; CBH looks to double share of exports

Resources slump leads market carnage
A 10 per cent drop in European spot coal prices and Wall Street's official move into a 20 per cent bear market yesterday knocked Australia's benchmark equities index below the 5000 level for the first time in almost two years, stripping the market of the strength it had come to rely on from the resources sector. The Australian

Palmer planning $5b float
Eccentric iron ore tycoon Clive Palmer is planning a $5 billion float of his iron ore, nickel, steel and energy assets on the Hong Kong and Australian stock exchanges this year in what would become the Queensland billionaire's most high-profile venture yet. The West

Eastwood set to call time after 45 years
More than four decades after joining Wesfarmers in 1963 as a cadet with Kleenheat gas, Trevor Eastwood yesterday flagged plans to sever his board links with the group b retiring as chairman at the annual meeting in November. The West

US regulators clear BHP Rio bid, now for Europe
BHP Billiton $190 billion takeover bid for Rio Tinto has received a major boost after US competition regulators waved through the hostile scrip-swap proposal. The West

CBH looks to double share of exports
WA's biggest bulk grain handler, CBH, has flagged ambitious plans to double its share of wheat exports as part of a strategy to take advantage of new deregulated bulk wheat export arrangements. The West

 

THE WEST AUSTRALIAN


Business: Eccentric iron ore tycoon Clive Palmer is planning a $5 billion float of his iron ore, nickel, steel and energy assets on the Hong Kong and Australian stock exchanges this year in what would become the Queensland billionaire's most high-profile venture yet.

More than four decades after joining Wesfarmers in 1963 as a cadet with Kleenheat gas, Trevor Eastwood yesterday flagged plans to sever his board links with the group b retiring as chairman at the annual meeting in November.

BHP Billiton $190 billion takeover bid for Rio Tinto has received a major boost after US competition regulators waved through the hostile scrip-swap proposal.

WA's biggest bulk grain handler, CBH, has flagged ambitious plans to double its share of wheat exports as part of a strategy to take advantage of new deregulated bulk wheat export arrangements.

The listed company behind boutique beer brand Little Creatures added another notch to its aggressive national expansion yesterday, opening its first retail venue on the east coast.


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