Today's Business Headlines

13/08/2008 - 06:44

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Late surge nudges St George to record run; Gas blast warnings ignored; Partners set $1b budget for decision on Gorgon; WorleyParsons reaps bonanza on resources; BHP, Rio to square off as they pull out profit guns

Today's Business Headlines


Late surge nudges St George to record run
A late surge in profitable income over the final weeks of its current financial year is poised to take St George Bank into record-breaking annual earnings of $1.3 billion, although the figure is likely to be at the lower end of its own reduced forecasts. The West

Gas blast warnings ignored
WA's $2 billion gas pipeline explosion might have been avoided if a key state government department had not ignored constant warnings that Apache Energy was not complying with safety standards. The Australian

Partners set $1b budget for decision on Gorgon
Chevron and its Gorgon partners hope to secure final regulatory approvals for the massive gas project off WA's North-West within a year before deciding whether to push ahead with the $20 billion-plus development. The West

WorleyParsons reaps bonanza on resources
Australia's biggest engineering company, WorleyParsons, has grown so fat on the resources boom that earnings delivered by its metals and minerals business alone last year outstripped its entire profit for 2002, when it made its debut on the Australian Securities Exchange. The West

BHP, Rio to square off as they pull out profit guns
Looming profit reports from BHP Billiton and its $162 billion takeover target Rio Tinto are set to spice up the war of words between the two heavyweights in the lead-up to the conditional bid potentially going live in December.

 

THE WEST AUSTRALIAN

Business: A late surge in profitable income over the final weeks of its current financial year is poised to take St George Bank into record-breaking annual earnings of $1.3 billion, although the figure is likely to be at the lower end of its own reduced forecasts.

Bad weather and construction delays on the Raine Square site in the CBD have conspired against developer Luke Saraceni, who will be forced to pay up on expensive guarantees given to his anchor tenant, BankWest.

Chevron and its Gorgon partners hope to secure final regulatory approvals for the massive gas project off WA's North-West within a year before deciding whether to push ahead with the $20 billion-plus development.

Australia's biggest engineering company, WorleyParsons, has grown so fat on the resources boom that earnings delivered by its metals and minerals business alone last year outstripped its entire profit for 2002, when it made its debut on the Australian Securities Exchange.

Looming profit reports from BHP Billiton and its $162 billion takeover target Rio Tinto are set to spice up the war of words between the two heavyweights in the lead-up to the conditional bid potentially going live in December.

THE AUSTRALIAN FINANCIAL REVIEW

Page 5: Executive pay, wealthy individuals, property and share investors and self-managed super funds will face scrutiny by the tax office this year.



THE AUSTRALIAN

Page 1: WA's $2 billion gas pipeline explosion might have been avoided if a key state government department had not ignored constant warnings that Apache Energy was not complying with safety standards.

Finance: St George Bank has appeared to harden its stance over the $18 billion proposed merger with Westpac.


STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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