Today's Business Headlines

Green likely to quit as B&B melts down
Beleaguered Babcock & Brown last night called a trading halt as it put the finishing touches to a management revamp that will include the departure of chief executive Phil Green amid growing concern over the viability of its satellite funds. The West

Woodside threatens to pass on proposed tax to WA households
Woodside Petroleum has threatened to lumber its customers, including WA households, with price increases worth up to $2.5 billion over four years unless the Federal Government abandons its plan to slug the North-West Shelf project with a new tax. The West

Aussie John brokers deal with CBA
Commonwealth Bank of Australia is negociating to buy a stake in John Symond's Aussie Home Loans in a deal that would value the mortgage broker and lender at more than $200 million, as the big banks look to take advantage of acquisition oppotunities in the midst of the credit crunch. The Fin Review

Strike threat looms over iron ore trains
Train drivers in the Pilbara are threatening to shatter industrial peace in the booming North-West with a series of strikes that could hold up millions of dollars worth of iron ore as part of a bid to boost union involvement in the mining sector. The West

Nickel price slide dampens BHP mine
BHP Billiton's $US2.2 billion ($2.5 billion) Ravensthorpe laterite development is not assured of an easy path and could struggle to turn a profit at full capacity if nickel prices continue to slide. The Australian

THE WEST AUSTRALIAN

Woodside Petroleum has threatened to lumber its customers, including WA households, with price increases worth up to $2.5 billion over four years unless the Federal Government abandons its plan to slug the North-West Shelf project with a new tax.

Train drivers in the Pilbara are threatening to shatter industrial peace in the booming North-West with a series of strikes that could hold up millions of dollars worth of iron ore as part of a bid to boost union involvement in the mining sector.

Business: Beleaguered Babcock & Brown last night called a trading halt as it put the finishing touches to a management revamp that will include the departure of chief executive Phil Green amid growing concern over the viability of its satellite funds.

An 800-hectare show farm on the outskirts of Perth is set to smash price records for WA agricultural properties, with its long-term owners putting the sprawling estate on the market for $25 million.

Virgin Blue has warned it will make a loss this financial year because of high jet fuel prices and the costs from its long-haul carrier, V Australia, flying between Australia and the US.

THE FIN REVIEW

The Reserve Bank of Australia has warned of the danger of a deep and persistent downturn in the economy unless tight financial conditions ease.

Commonwealth Bank of Australia is negociating to buy a stake in John Symond's Aussie Home Loans in a deal that would value the mortgage broker and lender at more than $200 million, as the big banks look to take advantage fo acquisition oppotunities in the midst of the credit crunch.

THE AUSTRALIAN

Embattled Babcock & Brown plunged another 23.5 per cent yesterday as investors panicked and dumped the stock, hedge funds triggered margin calls on staff shares and speculation mounted that CEO Phil Green would resign tomorrow.

A strong maiden full-year result from Consolidated Media Holdings has been blemished by its stake in PBL Media.

BHP Billiton's $US2.2 billion ($2.5 billion) Ravensthorpe laterite development is not assured of an easy path and could struggle to turn a profit at full capacity if nickel prices continue to slide.