Today's business headlines - updated

THE WEST AUSTRALIAN (BUSINESS NEWS HEADLINES)

ANZ squeeze leaves punters with dregs

ANZ, the bank that has stumped up nearly $100 million to underwrite Evans & Tate's ill-fated growth strategy, will emerge with a 61.2 per cent stake in the troubled winemaker as part of a deal that will see ordinary shareholders almost squeezed dry.

Any BHP move on Rio is years late: Gilbertson

BHP Billiton probably should have moved on arch rival Rio Tinto years ago, according to the chief architect of the $57 billion merger which created the mining giant in 2001.

Cooper gone as Clough wheels out new chief

Engineering and construction group Clough has appointed its third chief executive in just four months, cutting short the tenure of John Cooper.

THE WEST AUSTRALIAN (GENERAL NEWS HEADLINES)

Lord Eric giveth, then Lord Eric taketh away

First home buyers were the big winners yesterday in Treasurer Eric Ripper's seventh State Budget, which was otherwise roundly condemned as miserly and unimaginative.

State to fight Federal uni takeover

The State Government has vowed to fight a Federal takeover of universities, but it is unlikely to have the backing of WA's vice-chancellors, who said yesterday they were open to the idea of answering to Canberra.

$565m plans put in mothballs

Northbridge Link, the long awaited plan to sink the railway separating Perth and Northbridge and free up a prime 13.5ha for redevelopment is the biggest causalty among the $565 million in projects stripped from Treasurer Eric Ripper's record $21.6 billion infrastructure budget.