01/02/2008 - 06:51

Today's Business Headlines

01/02/2008 - 06:51

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ASIC under pressure to wade into Mt Gibson deal; Banks warn Tricom on asset sales; Business borrowing hits 20-year high; China not a shield from US impact; Second former promoter downgrades Emeco stock


ASIC under pressure to wade into Mt Gibson deal
Mt Gibson Iron is expected to pressure Australia's corporate regulator to intervene in the company's battle with its two Chinese shareholders in an effort to force them to either make a $2.4 billion takeover bid or halve their combined 40 per cent stake. The West

Banks warn Tricom on asset sales
Bankers, led by ANZ, urge troubled boutique margin lender Tricom to not damage the quality of its loan book by selling its best assets. The Australian

Business borrowing hits 20-year high
Businesses, buoyed by strong demand growth, are borrowing at the fastest pace in almost 20 years, highlighting inflationary pressures. The Fin Review

China not a shield from US impact
National Australia Bank chairman Michael Chaney has warned that Australia could easily become a victim of a US slowdown, despite booming Chinese demand for its commodities. The West

Second former promoter downgrades Emeco stock
A second major promoter of Emeco Holding's $1 billion 2006 float has downgraded the stock after the earth moving equipment group warned of reduced profits. The West

 

THE WEST AUSTRALIAN
Business: Mt Gibson Iron is expected to pressure Australia's corporate regulator to intervene in the company's battle with its two Chinese shareholders in an effort to force them to either make a $2.4 billion takeover bid or halve their combined 40 per cent stake.

Stockbroker Tricom which rattled stockmarkets earlier this week when it failed to meet settlement obligations, moved to reassure investors yesterday by insisting that there would be no more forced selling of shares.

National Australia Bank chairman Michael Chaney has warned that Australia could easily become a victim of a US slowdown, despite booming Chinese demand for its commodities.

A second major promoter of Emeco Holding's $1 billion 2006 float has downgraded the stock after the earth moving equipment group warned of reduced profits.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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