08/07/2008 - 06:31

Today's Business Headlines

08/07/2008 - 06:31

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Murchison quits bid with shot at Sinosteel; No need for exporters to fear: Garnaut; Pratt accuses ACCC of 'abuse of power'; Veteran brokers drive $150m takeover by Bell; Shock downgrade rattles market

Today's Business Headlines

Murchison quits bid with shot at Sinosteel
Murchison Metals has conceded defeat in its long-running battle to merge with Midwest Corp and create a $3.2 billion WA iron ore group, paving the way for China Inc to complete its first takeover of an Australian mining company. The West

No need for exporters to fear: Garnaut
Australian companies would receive enough compensation from day one of a carbon trading scheme to ensure they were not disadvantaged in their battles with foreign competitors, the Federal Government's climate change adviser, Ross Garnaut, said yesterday. The West

Pratt accuses ACCC of 'abuse of power'
Lawyers for cardboard magnate Richard Pratt have argued the ACCC's decision to file criminal charges against their client are an abuse of power.The Australian

Veteran brokers drive $150m takeover by Bell
Stockbroking veterans Colin Bell and Brent Potts spoke last year about getting their two stockbroking businesses together, but it was a deal neither could afford. After Bell Financial Group December float, Bell has unveiled a plan to outlay up to $150 million in cash and shares for Mr Potts' Southern Cross Equities over the next three years. The West

Shock downgrade rattles market
GPT Group has slashed its earnings outlook only six weeks after delivering a positive update to investors, blaming a sharp deterioration in global credit markets and falling asset prices in the real estate industry. The Fin Review

 

THE WEST AUSTRALIAN

Australian companies would receive enough compensation from day one of a carbon trading scheme to ensure they were not disadvantaged in their battles with foreign competitors, the Federal Government's climate change adviser, Ross Garnaut, said yesterday.


Packaging tycoon Richard Pratt has launched a spiteful counter-attack against Graeme Samuel and the Australian Competition and Consumer Commission, accusing the regulator of a "shameful abuse of power" in its pursuit of criminal charges against him.

Business: Murchison Metals has conceded defeat in its long-running battle to merge with Midwest Corp and create a $3.2 billion WA iron ore group, paving the way for China Inc to complete its first takeover of an Australian mining company.


 

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