01/04/2008 - 06:36

Today's Business Headlines

01/04/2008 - 06:36

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Broker accused of hiding losses; Sinosteel claims market uncertainty is a threat for Midwest; Landmark deal promises reward for WA's Martu; Lew lobs $898 bid for Just; Lehman sues over $US350m fraud

Broker accused of hiding losses
Regulators are investigating allegations of fraud by Opes Prime chief executive Laurie Emini after a court heard claims he told his staff to alter share trading accounts so favoured wealthy clients did not face margin calls. The Fin Review

Sinosteel claims market uncertainty is a threat for Midwest
Sinosteel has warned that Midwest shareholders need to take volatile equity markets into account when deciding on the state-owned Chinese group's hostile $1.2 billion for the fledging WA iron ore miner. The West

Landmark deal promises reward for WA's Martu
WA's Martu people have struck a potentially lucrative deal designed to deliver them major equity in a listed company in return for mining rights to their land - and agreements believed to be the biggest and most significant of its kind in Australia. The West

Lew lobs $898 bid for Just
Former Coles chairman Solomon Lew has launched a takeover bid for clothing retailer Just Group that values the target company at up to $898 million. The Australian

Lehman sues over $US350m fraud
Lehman Brothers filed a lawsuit against major Japanese trading company Marubeni yesterday, demanding $US350 million ($382 million) in damages in an unfolding case of alleged massive fraud. The West

 

THE WEST AUSTRALIAN
Business: Experts do not believe there are more Opes Prime-style meltdowns pending, but have warned that wealthy investors will be soon forced to sell off assets to hang on to their shares as margin calls come in.

WA's Martu people have struck a potentially lucrative deal designed to deliver them major equity in a listed company in return for mining rights to their land - and agreements believed to be the biggest and most significant of its kind in Australia.

Lehman Brothers filed a lawsuit against major Japanese trading company Marubeni yesterday, demanding $US350 million ($382 million) in damages in an unfolding case of alleged massive fraud.

Sinosteel has warned that Midwest shareholders need to take volatile equity markets into account when deciding on the state-owned Chinese group's hostile $1.2 billion for the fledging WA iron ore miner.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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