13/02/2008 - 06:56

Today's Business Headlines

13/02/2008 - 06:56

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Coventry eyes failed rival; Woodside eyes two Pluto pipes; Good or bad, investors get ugly; Miner's Shougang showdown tipped tomorrow;'Very good thing' Mirvac tarred with sub-prime brush

Today's Business Headlines

Coventry eyes failed rival
The collapse of Australia's biggest car parts distributor, National Parts, could provide a fillip to WA's languishing Coventry Group, which yesterday expressed an interest in picking over the failed company. The West

Woodside eyes two Pluto pipes
Woodside Petroleum is considering building a second 180km subsea pipeline for its Pluto gas project as part of plans to treble the processing capacity of the $12 billion LNG plant on the Burrup Peninsula.The West

Good or bad, investors get ugly
The 2008 reporting season has turned into one of thr roughest for Australian companies, which are being dumped by unforgiving investors worried by the business fallout form the credit crunch, regardless of good or bad results. The Australian

Miner's Shougang showdown tipped tomorrow
Mt Gibson Iron is expected to take its complaint about Shougang Concord's controversial plan to buy a 19.7 per cent stake in the WA iron ore producer to the Takeover Panel as early as tomorrow in an attempt to scupper the $407.6 million deal. The West

'Very good thing' Mirvac tarred with sub-prime brush
Mirvac's strong half-year result failed to placate nervous invesors who sent the company's shares dowm to 18-months low yesterday on continued concern about the property sector. The Australian

THE WEST AUSTRALIAN
Business: The collapse of Australia's biggest car parts distributor, National Parts, could provide a fillip to WA's languishing Coventry Group, which yesterday expressed an interest in picking over the failed company.

Growing fear that high interest rates could curb consumer appetites overshadowed a record 60 per cent jump in profit for booming electronics retailer JB Hi-Fi yesterday as nervous investors wiped more than $100 million off the company's market value.

Mt Gibson Iron is expected to take its complaint about Shougang Concord's controversial plan to buy a 19.7 per cent stake in the WA iron ore producer to the Takeover Panel as early as tomorrow in an attempt to scupper the $407.6 million deal.

Woodside Petroleum is considering building a second 180km subsea pipeline for its Pluto gas project as part of plans to treble the processing capacity of the $12 billion LNG plant on the Burrup Peninsula.

Diversified property group Mirvac has been hit hard by jittery investors, despite management confirming the business is in good position to ride out higher interest rates and the volatile property market.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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