20/02/2008 - 06:54

Today's Business Headlines

20/02/2008 - 06:54

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Desperate FMG hits road; RBA cash rate may hit 8% to curb inflation; Rural revival feeds boom economy; Rio eyes $2.6b windfall if Asian mills stump up; More time please, urges Foster's chief

Today's Business Headlines

Desperate FMG hits road
Fortescue Metals Group is using massive 200-tonne road trains to help transport iron ore from its Pilbara mine site to Port Hedland s it battles to defy its critics and complete the 260km railway line by mid-April. The West

RBA cash rate may hit 8% to curb inflation
An official cash rate of eight per cent could be needed to bring inflation under control because the economy is so strong, the Reserve Bank has warned. The Australian

Rural revival feeds boom economy
Australian farmers could rebound from their drought down-and-out with expectations of a bumper summer grain crop. The Fin Review

Rio eyes $2.6b windfall if Asian mills stump up
Rio Tinto is trying to force Asia's steel mills to pay a $2.6 billion premium for its Pilbara iron ore to reflect the cost savings the steel mills enjoy from sourcing the key steel ingredient from nearby WA, rather than distant Brazil. The West

More time please, urges Foster's chief
Foster's boss Trevor O'Hoy has asked for more time for the company to realise its $7 billion investment in the world wine industry, after less than impressive profit results. The Fin Review

 

THE WEST AUSTRALIAN
Page 1: Former Labor minister Julian Grill is willing to be sent to jail for refusing to apologise to Parliament over the leaks-to-lobbyist affair, saying he has been denied natural justice - a principle which outweighed the threat of imprisonment.

Business: Fortescue Metals Group is using massive 200-tonne road trains to help transport iron ore from its Pilbara mine site to Port Hedland s it battles to defy its critics and complete the 260km railway line by mid-April.

Foster's boss Trevor O'Hoy has refused to tell the market how long it will take to lift his troubled wine business, or how much longer he will remain at the helm of the company, after revealing profit growth had sowed in the first half.

Rio Tinto is trying to force Asia's steel mills to pay a $2.6 billion premium for its Pilbara iron ore to reflect the cost savings the steel mills enjoy from sourcing the key steel ingredient from nearby WA, rather than distant Brazil.

Emeco Holdings yesterday defended the international expansion which ahs hit its progits but admitted it may have been "too enthusiastic".

Buoyed by the new found health of its balance sheet, Newcrest Mining is close to making an acquisition to add to the growth opportunities already locked in as its existing operations and those being generated by its exploration effort.



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