05/12/2007 - 06:36

Today's Business Headlines

05/12/2007 - 06:36

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Ukrainians in knockout ConsMin bid; Rudd test as chinese consider Rio Tinto bid; WA miners urged to go Dutch by importing Polish workers; Business reform to be fast-tracked; Palmer drops bid to sack Arc board

Today's Business Headlines

Ukrainians in knockout ConsMin bid
The long- running sage for control of Perth-based chrome steels miner Consolidated Minerals appears to be over with Ukrainian outfit Palmary Enterprises set to seize control for the lofty price of $1.15 billion. The Australian

Rudd test as chinese consider Rio Tinto bid
The Rudd Government may soon be facing the first big challenge to its vaunted china expertise - a counter bid from China's steel mills for Rio Tinto. The Australian

WA miners urged to go Dutch by importing Polish workers
A Dutch company wants to cash in on the WA mining industry's skills shortage by importing Polish workers. The West.

Business reform to be fast-tracked
The Rudd government is fast-tracking its business reform agenda, promising a clear and substantial cut in regulation in two years and the swift introduction of croiminal cartel laws tougher than those proposed by the coalition government. The Fin Review

Palmer drops bid to sack Arc board
Iron ore millionaire Clive Palmer has withdrawn his campaign for the board of Arc Energy to be sacked after signing a peace deal with the Perth oil and gas company. The West

 

THE WEST AUSTRALIAN
Page 1: The push for a new climate change agreement that includes binding emissions targets for developed countries was thrown into turmoil last night with revelations Japan and Canada could throw their weight behind the US in resisting the move at the United Nations conference in Bali.

BHP Billiton has signed Perth's biggest office leasing deal in a further sign of confidence from the world's biggest mining company that the resources boom driving the WA economy will continue.

Business: The year long takeover battle for Consolidated Minerals is as good as over, with Brian Gilbertson's Pallinghurst Resources last night conceading defeat in the wake of a $1.2 billion knockout punch from Ukrainian billionaire Gennadiy Bogolyubov.

Chinese steel giant Baosteel is considering a $US200 billion-plus ($229 billion) bid for Rio Tinto in an attempt to spoil BHP Billiton's hostile merger plans.

Iron ore millionaire Clive Palmer has withdrawn his campaign for the board of Arc Energy to be sacked after signing a peace deal with the Perth oil and gas company.

A Dutch company wants to cash in on the WA mining industry's skills shortage by importing Polish workers.



THE AUSTRALIAN FINANCIAL REVIEW

Page 1: The Rudd government is promising to fast-track a clear and substantial cut in regulation in two years. Retailer Harvey Norman is sitting on a massive $66 million in accumulated franking credits and has been fighting off demands to pay them to shareholders.

Page 3: BHP Billiton is facing a $729 million tax bill in a dispute over depreciation deductions related to a failed hot briquette iron plant.

Page 5: Shoppers have eased spending after buying up big in recent months, figures show.

World: Growth in factory activity in the US slipped in November to the lowest level since January.

Market: Market volatility has failed to quell demand for equity listings, with new data showing floats have increased in size and value so far this year.



THE AUSTRALIAN

Page 1: Deepening divisions among developed countries over climate change policy threaten to derail the Bali climate talks. Australia's top students are falling behind their international peers, a new study shows.

Page 2: Australia has a good chance of reining in the projected one per cent blowout in its Kyoto target.

Page 3: Victoria's police union is calling for a new anti-corruption commission.

Finance: Ukrainian outfit Palmary Enterprises is set to take control of Perth-based chrome steels miner Consolidated Minerals.




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