Today's Business Headlines

09/01/2008 - 06:43

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Banks give Swan an interest rate slap; Bad year tipped for super; Race is on to power desalination plant; Alinta shareholders are better off: Indermauer; Investors wary after second stockmarket correction

Today's Business Headlines

Banks give Swan an interest rate slap
WA Banks and credit societies dealt Wayne Swan an embarrassing slap in the face yesterday when they warned of "inevitable" interest rate rises just hours after the Treasurer held an emergency meeting to investigate why some banks had raised rates despite the Reserve Bank of Australia holding official rates steady. The West

Bad year tipped for super
Australian should brace for a year of negative superannuation returns as the US sub-prime crisis takes hold in financial markets. The West

Race is on to power desalination plant
Fremantle inventor Alan Burns' Carnegie Corp is squaring off with Ric Stowe's Griffin Energy in a contest among Energy pioneers to provide new types of sustainable power for the water corporation's $1 billion Binnigup desalination plant. The West

Alinta shareholders are better off: Indermauer
One year after one of Australia's biggest corporate controversies engulfed WA energy giant Alinta, one of the architects of the failed management buyout plan that ultimately triggered the sale of the company maintains its former shareholders are better off. The West

Investors wary after second stockmarket correction
The Australian sharemarket yesterday recorded its second technical correction in six months. The Australian Prudential Regulation Authority is investigating whether banks have enough capital security to cope with severe financial market downturns. The Fin Review

 

THE WEST AUSTRALIAN

Page 1: WA Banks and credit societies dealt Wayne Swan an embarrassing slap in the face yesterday when they warned of "inevitable" interest rate rises just hours after the Treasurer held an emergency meeting to investigate why some banks had raised rates despite the Reserve Bank of Australia holding official rates steady.

The resurgence in wool prices in the past 18 months is tipped to continue this year as demand from the Chinese textile industry remains strong and the drought ravaged national clip is at its lowest for 60 years.

Business: Australian should brace for a year of negative superannuation returns as the US sub-prime crisis takes hold in financial markets.

One year after one of Australia's biggest corporate controversies engulfed WA energy giant Alinta, one of the architects of the failed management buyout plan that ultimately triggered the sale of the company maintains its former shareholders are better off.

Fremantle inventor Alan Burns' Carnegie Corp is squaring off with Ric Stowe's Griffin Energy in a contest among Energy pioneers to provide new types of sustainable power for the water corporation's $1 billion Binnigup desalination plant.

Privately owned Latent Petroleum is trying to raise about $50 million in an ambitious attempt to become a WA gas producer by next year.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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