Today's Business Headlines

Billions lost in US fallout
More than $25 billion was carved off the Australian stock exchange yesterday, and the dollar climbed to within a whisker of parity with the greenback, as the fallout from the US sub-prime mortgage crisis deepened. The Sydney Morning Herald

Primebroker play challenges ANZ's primacy
ANZ Bank wrestle with struggling margin lender Chimaera Capital and its associate Primebroker Securities became more complicated yesterday as Primebroker's directors appointed voluntary administrators to the company in a move that could eventually challenge ANZ's $100 million secured charge over its assets. The West

WA, Qld need extra 127,000 workers every year
Western Australia and Queensland need an extra 127,000 workers every year to ensure the mining boom does not produce a wages breakout, Treasury modelling shows. The Sydney Morning Herald

Centro exits US portfolio for $728m to cut debts
Centro Properties yesterday sold its US property portfolio to a private American pension fund for $728 million - 10 per cent below its book value. The West

Drivers spared climate pain as excise cut offsets new tax
The federal government will cut petrol tax to offset the expected price hike at the bowser, driven by Australia's move to carbon emissions trading. The Australian

THE WEST AUSTRALIAN

Business: ANZ Bank wrestle with struggling margin lender Chimaera Capital and its associate Primebroker Securities became more complicated yesterday as Primebroker's directors appointed voluntary administrators to the company in a move that could eventually challenge ANZ's $100 million secured charge over its assets.

Centro Properties yesterday sold its US property portfolio to a private American pension fund for $728 million - 10 per cent below its book value.