10/01/2008 - 06:40

Today's Business Headlines

10/01/2008 - 06:40

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Hopes for change at AWB hit as farm groups dig in; ASIC summons Centro for talks; CBA lifts rates as banks come under more fire; Stockland to pocket big profit on Karrinyup sale; Warning over power blackouts

Hopes for change at AWB hit as farm groups dig in
Scandal-plagued AWB's hopes of reinventing itself to compete in a deregulated wheat export market suffered an early blow yesterday when several powerful farm leaders confirmed they would fight plans to end grower control of the company. The West

ASIC summons Centro for talks
The corporate regulator was locked in discussions yesterday with Centro Properties Group over its $5 billion credit-crunch meltdown. The Australian

CBA lifts rates as banks come under more fire
Banks were taking advantage of customers by using the global credit crunch as an excuse to lift interest rates, a senior economist said yesterday as the Commonwealth Bank became the third big bank to increase mortgage rates on the back of the squeeze. The West

Stockland to pocket big profit on Karrinyup sale
Stockland has achieved a 120 per cent return on investment in the Karrinyup shopping centre after striking a deal to sell its 25 per cent stake to the centre's co-owners, Westfield Group and UniSuper, for $152.5 million. The West

Warning over power blackouts
The Australian Energy Regulator says it will take tough action against power companies that fail to prevent major blackouts. The Fin Review

 

THE WEST AUSTRALIAN
Page 1: Leadership tensions in the WA Liberal Party have reached boiling point with the publication of a letter written by a member of Opposition Leader Paul Omodei's staff which alleged Deputy Leader Troy Buswell was involved in a drunken escapade at Parliament House.

Banks were taking advantage of customers by using the global credit crunch as an excuse to lift interest rates, a senior economist said yesterday as the Commonwealth Bank became the third big bank to increase mortgage rates on the back of the squeeze.

Business: Scandal-plagued AWB's hopes of reinventing itself to compete in a deregulated wheat export market suffered an early blow yesterday when several powerful farm leaders confirmed they would fight plans to end grower control of the company.

Shares in Perth company Minemakers soared almost 90 per cent yesterday after it announced the start of a feasibility study for its Wonarah phosphate mine in the Northern Territory.

Stockland has achieved a 120 per cent return on investment in the Karrinyup shopping centre after striking a deal to sell its 25 per cent stake to the centre's co-owners, Westfield Group and UniSuper, for $152.5 million.

China's biggest nickel producer, Jinchuan Group, has swooped on another WA junior, snapping up an 11 per cent stake in Fox Resources.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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