15/07/2008 - 06:46

Today's Business Headlines

15/07/2008 - 06:46

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Tax grab 'threatening to derail' WA gas expansion; Goyder says scale vital in inflation fight; Toll takes $1.3b hit as it bales out of Virgin Blue; AWB wins backing for corporate overhaul; BHP, Rio cap iron ore price rises for Europe

Today's Business Headlines


Tax grab 'threatening to derail' WA gas expansion
Expansion of WA's lucrative north west shelf gas development is threatened by the Federal Government's plan to put a $2.5 billion tax on the valuable condensate produced at the plant, the project owners have warned. The West

Goyder says scale vital in inflation fight
Facing an ACCC grocery inquiry, Wesfarmers says the economies of scale enjoyed by the major supermarket chains will be critical to fighting global food price inflation. The Fin Review

Toll takes $1.3b hit as it bales out of Virgin Blue
Toll Holdings will book a $1.3 billion write-down after offloading its majority stake in Virgin Blue, in a deal that puts Richard Branson'a Virgin Group back in the pilot's seat of the struggling airline. The West

AWB wins backing for corporate overhaul
AWB yesterday received a much-needed boost in its fierce stand-off with WA farmers after the Australian Shareholders' Association backed moves to overhaul the structure of Australia's biggest grains group. The West

BHP, Rio cap iron ore price rises for Europe
BHP Billiton and Rio Tinto have settled European iron ore contract prices, with BHP agreeing to lower price gains than it secured for Asia and falling into line with prices secured by Brazil's Vale in March. The Australian

 

THE WEST AUSTRALIAN

Expansion of WA's lucrative north west shelf gas development is threatened by the Federal Government's plan to put a $2.5 billion tax on the valuable condensate produced at the plant, the project owners have warned.

Billionaire builder Len Buckeridge has been ordered by the Federal Government to stop work on part of his controversial brickworks near the airport after pouring concrete close to the Dampier-to-Bunbury gas pipeline which will run through the site.

Business: Toll Holdings will book a $1.3 billion write-down after offloading its majority stake in Virgin Blue, in a deal that puts Richard Branson'a Virgin Group back in the pilot's seat of the struggling airline.

Wesfarmers managing director has taken a swipe at analysts' claims the new owner of Coles was struggling to kickstart the turnaround at the struggling supermarket chain, saying progress has been faster than expected.

AWB yesterday received a much-needed boost in its fierce stand-off with WA farmers after the Australian Shareholders' Association backed moves to overhaul the structure of Australia's biggest grains group.

Monarch Gold Mining administrator Bryan Hughes says he is not surprised by the high level of interest from potential bidders, even before he calls for expressions of interest for the collapsed Goldfields miner's assets.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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