08/02/2008 - 06:53

Today's Business Headlines

08/02/2008 - 06:53

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Rio tactics questionned as BHP ploughs on; Ferguson rail risk for Fortescue; NAB rate rise may outstrip Reserve's; Futuris profit hopes hinge on AACo sale; Retread: Scotsman takes the wheel at Coles

Today's Business Headlines

Rio tactics questionned as BHP ploughs on
BHP Billiton will push ahead with regulatory approvals for its $165 billion bid for Rio Tinto, despite the target board's second rejection of the biggest takeover offer in Australian corporate history. The Fin Review

Ferguson rail risk for Fortescue
Resources and Energy Minister Martin Ferguson has flagged changes to the Trades Practices Act that would protect BHP Billiton from having to allow upstart iron ore rival Fortescue Metals Group use of their rail lines in the Pilbara. The Australian

NAB rate rise may outstrip Reserve's
National Australia Bank has warned it may lift is standard variable mortgage rate by more than this week's increase by the Reserve Bank, as Westpac and St George Bank limited their rate rises to 0.25 of a percentage point. The Fin Review

Futuris profit hopes hinge on AACo sale
Futuris Corporation hopes to overcome a sharp fall in first-half profit with a strong second-half performance, underpinned by a mid-year sale of its 43 per cent holding in Australian Agriculture Company (AACo) and improving seasonal conditions. The West

Retread: Scotsman takes the wheel at Coles
Wesfarmers has lured the chief executive of British car parts and bicycle retailer Halford to run its newly acquired Coles supermarket business with a $2 million wlecome mat. The Australian

 

THE WEST AUSTRALIAN
Business: Europe's influential steel industry has vowed to fight BHP Billiton's $US147.7 billion ($164.7 billion) plan to take over Rio Tinto as opposition began to mount the Australian miner's record-breaking bid.

WA mining mogul and self-confessed Carlton tragic Michael Kiernan has recruited start Blues footballer Chris Judd to work as a public ambassador for his iron ore group, Territory Resources.

Wesfarmers insisted yesterday that the roll-out of its recovery plan for Coles supermarkets won't be delayed to await the arrival of its new groceries chief, Ian McLeod, in three months.

Futuris Corporation hopes to overcome a sharp fall in first-half profit with a strong second-half performance, underpinned by a mid-year sale of its 43 per cent holding in Australian Agriculture Company (AACo) and improving seasonal conditions.

National Australia Bank was yesterday forced to defend its share price and the purchase of US regional bank Great Western.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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