22/12/2008 - 06:40

Today's Business Headlines

22/12/2008 - 06:40

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Shake-up for ASX capital raising rules; ASX 100 face losses of $50bn; Metal meltdown to persist; Super funds seek tax relief; Razor gang to fund rescue

Shake-up for ASX capital raising rules

The ASX is looking at reforms to provide greater flexibility for share market-listed companies seeking to raise fresh capital from investors, as the credit crisis forces many to bolster their balance sheets. AFR

ASX 100 face losses of $50bn

The 100 biggest listed companies face a $50bn plus balance sheet hit next year as the carrying value of assets erodes in line with the economic crisis. The Aust

Metal meltdown to persist

Analysts tip 2009 to be another traumatic year for resources as global demand across all key commodities tumbles. The West

Super funds seek tax relief

Super funds are lobbying the federal government for temporary tax relief to allow further consolidation in the sector as players face average value loss of around one fifth. AFR

Razor gang to fund rescue

PM tells cabinet to find big budget cuts to pay for crisis measures. The Aust

 

THE WEST AUSTRALIAN

Page 3: Wealthy couple lose court fight over $3m tax.

Page 4: Barnett rfuses to rule out North Head gas hub; Premier defends his small list infrastructure list for fed funding; Varanus inquiry to focus on authorities.

Page 5: Pub prices set to soar to pay for new award.

Page 6: Holden uses bailout cash to build new small car; US economy worse than we thought, says Biden; Logging restructure not enough.

Business: Metal meltdown to persist.

 

THE AUSTRALIAN:

Page 1: Razor gang to fund rescue. Alice Springs is in meltdown, with escalating social unrest and entrenched dysfunction on display for international tourists to see. The Jesuit priest chosen to head a committee examining whether Australia needs a bill of rights has left open the option of rejecting the idea outright.

Page 2: The Salvation Army has labelled the Rudd government's promise to halve the number of homeless people by 2020 as "overly ambitious".

Finance: ASX 100 face losses of $50 billion. Future of international ratings agencies under fresh threat as corporates and influential fund managers believe the credibility of investment ratings is now destroyed. General Motors and Chrysler convince Bush administration to give them enough cash to survive into next year.

THE FINANCIAL REVIEW:

Page 1: Shake-up for ASX capital raising rules; Super funds seek tax relief; Limit on lifeline for US car industry.

Page 3: Qantas breaks wages impasse.

Page 4: Wong dismisses scheme's critics.

Page 5: Miners fear award shift will hit rosters; Opposition attacks infrastructure plan.

Page 6: Charity shake-out likely as donors slash giving.

Page 7: Cruch hits R&D and start-ups; Farmers decry slow rate cuts.

Page 11: Rio halts Kwinana smelter operations.

Page 12: Futuris expects profit from AACo stake.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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