06/11/2007 - 06:43

Today's Business Headlines

06/11/2007 - 06:43

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Anvil may loose mine in Congo overhaul; PetroChina hits the boards at $US1 trillion; Coventry chief grilled over long delays, cost blowouts; Nufarm's $3 billion Chem China deal makes it a global pesticide leader; $9bn loss: Prince leaves Citi a pauper.

Today's Business Headlines

Anvil may loose mine in Congo overhaul
West Perth miner Anvil Mining faces the loss of its flagship Dikulushi copper-silver operation in the Democratic Republic of Congo and having the terms of two other key projects renegotiated as part of a drastic overhaul of the African nation's mining code. The West

PetroChina hits the boards at $US1 trillion
PetroChina yesterday surged past ExxonMobil to become the world's first US$1 trillion ($1.08 trillion) company as investors in China started trading the stock. The West

Coventry chief grilled over long delays, cost blowouts
Coventry Group executive chairman Roger Flynn endured an hour of blistering comments, accusations and criticism from shareholders at the annual meeting of the troubled auto parts distributor and industrial gasket maker in Perth yesterday. The West

Nufarm's $3 billion ChemChina deal makes it a global pesticide leader
Pesticide maker Nufarm has endorsed a $3 billion bid from China's state-owned chemical company to combine their crop protection interests into the biggest producer of its type in the world. The Australian

$9bn loss: Prince leaves Citi a pauper
Charles Prince couldn't unite the pieces of Citigroup's sprawling empire, and his successor will face many of the same challenges that stymied the outgoing xhief executive. The Australian

THE WEST AUSTRALIAN
Page 1: Alan Carpenter has refused to release reports on Aboriginal affairs compiled by former governor Lt-Gen. John Sanderson - despite paying him $200,000 of taxpayer's money for the advice.

There's just one fundamental question for Kevin Rudd to answer in a week that will be dominated by interest rates: how would he control inflation better than the coalition?

Hundreds of WA sporting and social clubs face financial hardship because they cannot comply with tough new liquor laws, which make it illegal for untrained volunteers to serve alcohol.

Business: West Perth miner Anvil Mining faces the loss of its flagship Dikulushi copper-silver operation in the Democratic Republic of Congo and having the terms of two other key projects renegotiated as part of a drastic overhaul of the African nation's mining code.

Coventry Group executive chairman Roger Flynn endured an hour of blistering comments, accusations and criticism from shareholders at the annual meeting of the troubled auto parts distributor and industrial gasket maker in Perth yesterday.

PetroChina yesterday surged past ExxonMobil to become the world's first US$1 trillion ($1.08 trillion) company as investors in China started trading the stock.

The chief architect of Nufarm's rapid global growth over the past decade, Doug Rathbone, has agreed to stay on for at least three years if a $3 billion takeover bid led by state-owned China National Chemical Corporation is successful.

Investors wiped more than 70 per cent off the value of shares in biodiesel group Australian Renewable Fuels yesterday in the wake of its decision to stop production at its WA and South Australian plants.



THE AUSTRALIAN FINANCIAL REVIEW

Page 1: The federal government won't release research into the economic benefits of Work Choices; Citigroup losses shake market.

Page 3: The Reserve Bank of Australia meets today to decide interest rates.

Page 5: Punters are throwing money at the Melbourne Cup favourite but master trainer Bart Cummings has the sentimental edge.

Companies: Nufarm accepts $3 billion ChemChina bid.



THE AUSTRALIAN

Page 1: Labor retains its election-winning lead over the coalition, but is squandering one of its key electoral strengths, with a series of blunders on the environment dramatically undermining its standing among voters on key green issues.

Finance: Charles Prince couldn't unite the pieces of Citigroup's sprawling empire, and his successor will face many of the same challenges that stymied the outgoing chief executive.

Pesticide maker Nufarm has endorsed a $3 billion bid from China's state-owned chemical company to combine their crop protection interests into the biggest producer of its type in the world.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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