11/01/2008 - 06:30

Today's Business Headlines

11/01/2008 - 06:30

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Wesfarmers debt concern; Investors melt down Alumina; Labor to dump takeover tax; Inpex signals cost blowout may delay Ichthys LNG project; Clough hints at surprise turnaround to black ink

Today's Business Headlines

Wesfarmers debt concern
Wesfarmers has admitted it will be "hard work" to refinance billions of dollars of debt it has taken on to buy the Coles retail empire but again denied it could be forced to sell other businesses such as its coal mines to raise cash. The West

Investors melt down Alumina
Investors have torched Alumina's share price after it issued a 17 per cent profit downgrade for 2007, making it the largest victim of a strong Australian dollar, weak aluminium prices and rising production and interest costs. The Australian

Labor to dump takeover tax
The federal governement looks set to reverse a controversial tax change that almost jeopardised more than $28 billion in corporate takeovers and has forced billions of dollars in potential takeover bids to be shelved. The Fin Review

Inpex signals cost blowout may delay Ichthys LNG project
Japan's Inpex Holdings said the budget and schedule for its proposed 9.5 trillion cubic feet Ichthys liquefied natural gas project off WA's North-West were "under review", signalling it may cost more and be delayed. The West

Clough hints at surprise turnaround to black ink
Less than a month after Clough declared its financial position as "far from secure" during a crucial legal battle with Indian client ONGC, the Perth engineer has foreshadowed a surprise return to profit. The West

 

THE WEST AUSTRALIAN
Page 1: Paul Omodei's hold on the Liberal leadership hung by a thread last night as he remained bunkered down on his Pemberton farm after party president Danielle Blain demanded he sack his staff member who had launched an extraordinary attack on deputy leader Troy Buswell.

Rising interest rates and high house prices are forcing young homebuyers to take 40-year mortgages and interest-only loans in a bid to get a foothold in the market.

Business: Wesfarmers has admitted it will be "hard work" to refinance billions of dollars of debt it has taken on to buy the Coles retail empire but again denied it could be forced to sell other businesses such as its coal mines to raise cash.

Japan's Inpex Holdings said the budget and schedule for its proposed 9.5 trillion cubic feet Ichthys liquefied natural gas project off WA's North-West were "under review", signalling it may cost more and be delayed.

Less than a month after Clough declared its financial position as "far from secure" during a crucial legal battle with Indian client ONGC, the Perth engineer has foreshadowed a surprise return to profit.

Integra Mining has made the most of a soaring gold price, revealing a 38 per cent increase in resources at its Kalgoorlie project that propelled its share price to a record high.

France has joined Canada in sounding the alarm bell over investments from sovereign wealth funds.

Australia's Big Four banks' $1 billion exposure to ailing US mortgage provider Countrywide Financial weighed on bank stocks yesterday as the US sub-prime crisis continued to rattle domestic investors.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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