Today's Business Headlines

25/02/2008 - 06:47

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Port boost on $400m deal; Crack down on short selling says NAB; ASX warns miners on disclosure; Receivers kick off Westpoint actions with a $12.7m claim; Coal assets important: Goyder

Today's Business Headlines

Port boost on $400m deal
Cape Preston's emergence as the Pilbara iron ore industry's fourth principal port is set to receive a $400 million boost as early sa today when Cape Lambert Iron confirms plans to sell its flagship magnetite project to a Chinese Government-controlled group. The West

Crack down on short selling says NAB
NAB boss John Stewart has called for greater transparency and regulation of short-selling and stock-lending practices. The Australian

ASX warns miners on disclosure
The Australian Securities Exchange has stepped up surveillance of disclosure by small mining companies. The Fin Review

Receivers kick off Westpoint actions with a $12.7m claim
Receivers have started the first of what is expected to be an array of legal actions between companies in Norm Carey's Westpoint property empire, which imploded in late 2005 amid a major investigation by the corporate watchdog. The West

Coal assets important: Goyder
Wesfarmers chief executive Richard Goyder has effectively ruled out a sale of its coal assets in a move likely to end long-running speculation the WA conglomerate would consider a divestment of the unit to repay $4 billion worth of Coles takeover related debts. The West

 

THE WEST AUSTRALIAN
Business: Cape Preston's emergence as the Pilbara iron ore industry's fourth principal port is set to receive a $400 million boost as early sa today when Cape Lambert Iron confirms plans to sell its flagship magnetite project to a Chinese Government-controlled group.

Chelsea Football Club and Perth Glory could be a surprise match-up after $1.6 billion steel deal struck by the London soccer club's billionaire owner last week.

Receivers have started the first of what is expected to be an array of legal actions between companies in Norm Carey's Westpoint property empire, which imploded in late 2005 amid a major investigation by the corporate watchdog.

Wesfarmers chief executive Richard Goyder has effectively ruled out a sale of its coal assets in a move likely to end long-running speculation the WA conglomerate would consider a divestment of the unit to repay $4 billion worth of Coles takeover related debts.


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