Obama projects $US1.75 trillion deficit
US President Barack Obama's budget- to be presented on Thursday- projects a 2009 deficit of $US1.75 trillion $A2.69 trillion- the Wall Street Journal reports. ...
Thu 26th February 2009 - 11:54pm
Telstra to shut Bendigo call centre
Telstra will close its call centre at Bendigo in central Victoria in May. ...
Thu 26th February 2009 - 10:55pm
Telstra to shut Bendigo call centre
Telstra will close its call centre at Bendigo in central Victoria in May. ...
Thu 26th February 2009 - 10:30pm
Fire erupts in Pakistan Marriott hotel
A fire has erupted at the Marriott Hotel in Islamabad- two months after it was reopened following a suicide blast that killed 60 people- the management says. ...
Thu 26th February 2009 - 10:22pm
ASEAN to sign Australia- NZ trade pact
Southeast Asian economic ministers are set to sign a free trade pact with Australia and New Zealand vowing to resist protectionism despite the global slump. ...
Thu 26th February 2009 - 10:17pm
Fairfax seeking to raise $500m- report
Fairfax Media Ltd is soliciting interest in a capital raising for as much as $500 million- a media report says. ...
Thu 26th February 2009 - 10:11pm
Poor may pay more for Maccas
It seems that McValue can mean different things- depending on where you live. ...
Thu 26th February 2009 - 09:18pm
Poor may pay more for Maccas
It seems that McValue can mean different things- depending on where you live. ...
Thu 26th February 2009 - 09:15pm
Fairfax seeking to raise $500m- report
Fairfax Media Ltd is soliciting interest in a capital raising for as much as $500 million- a media report says. ...
Thu 26th February 2009 - 08:59pm
CyberAgent Reports Consolidated Results for January 2009
Tokyo- Feb 26- 2009 - JCN Newswire - CyberAgent TSE- 4751- a Tokyo-based leader in Internet media markets- has announced consolidated monthly results and overall position through January 2009. ...
Thu 26th February 2009 - 08:59pm
Chinas banking system stable amid global crisis- regulator
BEIJING AFP - The global economic crisis has had little impact on Chinas banking system- which remains sound and stable- the nations banking regulator said Thursday. ...
Thu 26th February 2009 - 07:54pm
ACT solar feed-in tariff bill passed
ACT residents who have a renewable energy generator will receive a tariff for the electricity they produce from March 1. ...
Thu 26th February 2009 - 07:49pm
Vic schools closed ahead of Friday scorcher
Hundreds of Victorian schools and child care centres will be closed tomorrow because of the bushfire threat. ...
Thu 26th February 2009 - 07:48pm
Prominent Hill production begins
The financially troubled miner OzMinerals says production has begun at its Prominent Hill gold and copper mine in South Australias north. ...
Thu 26th February 2009 - 07:46pm
McDonalds rejects pricing claims
Fast food chain McDonalds says the geographic location of its customers does not play a part in how it prices its menus. ...
Thu 26th February 2009 - 07:44pm
ANZ cuts dividend as profit sinks 11
ANZ became the first major bank to cut annual dividends after $800 million in bad debt provisions pushed net profit down 11 per cent. ...
Thu 26th February 2009 - 07:40pm
McDonalds rejects pricing claims
Fast food chain McDonalds says the geographic location of its customers does not play a part in how it prices its menus. ...
Thu 26th February 2009 - 07:39pm
RBS reports record $A53b net loss
The Royal Bank of Scotland has reported a net loss of STG24.1 billion $A52.75 billion in 2008- the largest shortfall ever recorded by a British company. ...
Thu 26th February 2009 - 07:33pm
Beaconsfield Gold rejects inquest findings
Beaconsfield Gold has rejected the findings of a Tasmanian Coroner who says the company could have done more to prevent the death of one of its miners. ...
Thu 26th February 2009 - 07:26pm
Bids lodged for ABC childcare centres
Around 180 formal binding offers have been lodged for the 241 ABC Learning Centres which were previously described as unviable. ...
Thu 26th February 2009 - 07:25pm
Beaconsfield Gold rejects inquest findings
Beaconsfield Gold has rejected the findings of a Tasmanian Coroner who says the company could have done more to prevent the death of one of its miners. ...
Thu 26th February 2009 - 07:24pm
ACT solar feed-in tariff bill passed
ACT residents who have a renewable energy generator- will receive a tariff for the electricity they produce from March 1. ...
Thu 26th February 2009 - 07:23pm
Insurer Allianz posts 2008 loss of 2.44 bln euros
FRANKFURT AFP - The German insurance giant Allianz on Thursday posted a worse-than-expected 2008 loss owing in large part to a massive charge connected with the sale of its Dresdner Bank subsidiary. ...
Thu 26th February 2009 - 07:21pm
ACT solar feed-in tariff bill passed
ACT residents who have a renewable energy generator- will receive a tariff for the electricity they produce from March 1. ...
Thu 26th February 2009 - 07:20pm
Gunns may have partner for pulp mill
Woodchipper Gunns says it may have a deal with a potential partner for its proposed $2.2 billion Tasmanian pulp mill by the end of April. ...
Thu 26th February 2009 - 07:17pm
ACT solar feed-in tariff bill passed
ACT residents who have a renewable energy generator- will receive a tariff for the electricity they produce from March 1. ...
Thu 26th February 2009 - 07:12pm
Cashed-up Arrow Energy eyes LNG sector
Arrow Energy says it is cashed up to deliver on its goal of becoming a player in the coal seam to liquefied natural gas sector. ...
Thu 26th February 2009 - 06:43pm
ANZ cuts dividend as profit sinks 11
ANZ became the first major bank to cut annual dividends after $800 million in bad debt provisions pushed net profit down 11 per cent. ...
Thu 26th February 2009 - 06:24pm
Origin Energy to draw on war chest
Origin Energy says it could spend $2 billion on a major acquisition as it plans to draw on its multi-billion-dollar war chest. ...
Thu 26th February 2009 - 06:21pm
Nursing strike causes chaos in PNG
Papua New Guinea health services have been thrown into chaos by a nationwide nurses strike. ...
Thu 26th February 2009 - 06:17pm
Trujillo to hang up on Telstra
Sol Trujillo will walk away with about $3 million in cash and share options potentially worth millions- when he ends a controversial four years as Telstra CEO. ...
Thu 26th February 2009 - 05:56pm
Banking sector boosts local market
Australian stocks have closed higher today after gains in the banking sector outweighed the miners losses. ...
Thu 26th February 2009 - 05:55pm
Year to rebuild- says profit-hit IAG
IAG says 2009 will be a year of rebuilding after falling investments values and a loss on the sale of a UK business led to a 96 per cent profit fall. ...
Thu 26th February 2009 - 05:51pm
Boart freezes dividend- cuts 2-000 jobs
Boart Longyear has posted a rise in annual profit but reduced its capital spending- suspended dividends and cut its global workforce by 20 per cent. ...
Thu 26th February 2009 - 05:49pm
Obama set to present budget to Congress
US President Barack Obama will ask Congress for $US634 billion to fund healthcare reform in his 2010 budget. ...
Thu 26th February 2009 - 05:42pm
Ukraine- Russia face March gas crisis- report
MOSCOW AFP - Russian energy giant Gazprom has warned it will again cut off gas to Ukraine on March 8 if the country does not pay back 400 million dollars of new debts- a newspaper report said Thursday. ...
Thu 26th February 2009 - 05:34pm
Telstra posts profit dip- CEO resigns
Telstra has posted a one per cent dip in first half profit and downgraded its full year earnings guidance as the economic downturn weighs on it ...
Thu 26th February 2009 - 05:32pm
Gunns may have partner for pulp mill
Woodchipper Gunns says it may have a deal with a potential partner for its proposed $2.2 billion Tasmanian pulp mill by the end of April. ...
Thu 26th February 2009 - 05:30pm
Unviable ABC Learning receivers happy with offers
The receivers for more than 200 ABC Learning Centres say they are pleased with the number and calibre of offers they have had to buy the businesses. ...
Thu 26th February 2009 - 05:28pm
Azure Minerals Limited ASX-AZS To Attend PDAC 2009 International Mining Convention In Toronto Canada
Perth- Australia- Feb 26- 2009 - ABN Newswire - Azure Minerals Limited ASX-AZSPINK-AZRMF is pleased to be an Exhibitor at the 2009 PDAC International Convention- Trade Show -amp amp Investors Exchange in Toronto- and invite convention attendees to visit us at Booth 2940.Azure is a mineral exploration company operating in the richly mineralised Sierra Madre Occidental mining province in northern Mexico. ...
Thu 26th February 2009 - 05:24pm
Obama set to present budget to Congress
US President Barack Obama will ask Congress for $US634 billion to fund healthcare reform in his 2010 budget. ...
Thu 26th February 2009 - 05:21pm
Aussie dlr buoyed by investment strength bonds up
SYDNEY- Feb 26 - The Australian dollar nudged up on Thursday after news of stellar growth in business investment last quarter fuelled hopes the economy may yet avoid a recession and reduced the chance of an interest rate cut next week. ...
Thu 26th February 2009 - 05:16pm
Lend Lease suffers $596m loss- cuts jobs
Lend Lease Corporation is to cut 1-700 jobs after asset writedowns and impairment charges led it to book a first half loss of almost $600 million. ...
Thu 26th February 2009 - 04:57pm
Departing Trujillo flags more job cuts
Outgoing chief executive of Telstra Sol Trujillo has flagged more job cuts over the next year as the company strives to cut costs. ...
Thu 26th February 2009 - 04:57pm
Asian Market Overview of February 26
Sydney- Australia- Feb 26- 2009 - ABN Newswire - Asian markets ended higher on Wednesday. Tokyo stocks jumped 2.7 as yens weakness boosted the Japanese exporters. South Korea and China markets delivered a modest rise of 0.3 each. Hong Kongs Hang Seng surged 1.6.Today the Tokyo- Singapore and Seoul stocks opened higher despite the fall in Wall Street. ...
Thu 26th February 2009 - 04:55pm
Westfield sees growth in Australia- NZ
Property developer Westfield says it expects growth in the Australian and New Zealand retail market after reporting an annual net loss of $2.1966 billion. ...
Thu 26th February 2009 - 04:50pm
Centro hit by $2.4bn loss
Centro Properties Group has reported a $2.4 billion first half loss as the shopping centre owner was hit by falling property values. ...
Thu 26th February 2009 - 04:46pm
Year to rebuild- says profit-hit IAG
IAG says 2009 will be a year of rebuilding after falling investments values and a loss on the sale of a UK business led to a 96 per cent profit fall. ...
Thu 26th February 2009 - 04:42pm
Tatts in good shape for acquisitions
Gaming firm Tatts Group has delivered a first half profit rise and says it's in good shape and wants to buy up to four businesses across Australia. ...
Thu 26th February 2009 - 04:31pm
Attacks over job cuts un-Australian
The Prime Minister has been forced to defend the Governments actions over the Pacific Brands job cuts amid continued attacks from the Opposition it is failing to protect jobs. ...
Thu 26th February 2009 - 04:31pm
Attacks over job cuts un-Australian
The Prime Minister has been forced to defend the Governments actions over the Pacific Brands job cuts amid continued attacks from the Opposition it is failing to protect jobs. ...
Thu 26th February 2009 - 04:29pm
Australia stocks gain on oil firms- earnings weigh
MELBOURNE- Feb 26 - Australian stocks closed 0.5 percent higher on Thursday- as Woodside Petroleum WPL led an advance in oil producers that helped offset the impact of company earnings downgrades. ...
Thu 26th February 2009 - 04:21pm
Banking- energy sectors lift share market
A rally in banking and energy stocks have helped boost the Australian share market today. ...
Thu 26th February 2009 - 04:19pm
Auspine purchase boosts Gunns profit
A financial analyst says the Tasmanian timber company Gunns latest profit result has been boosted by its acquisition of soft wood company Auspine a year ago. ...
Thu 26th February 2009 - 04:15pm
Auspine purchase boosts Gunns profit
A financial analyst says the Tasmanian timber company Gunns latest profit result has been boosted by its acquisition of soft wood company Auspine a year ago. ...
Thu 26th February 2009 - 04:12pm
Departing Trujillo flags more job cuts
Outgoing chief executive of Telstra Sol Trujillo has flagged more job cuts over the next year as the company strives to cut costs. ...
Thu 26th February 2009 - 03:56pm
Optimistic Toll eyes Asia expansion
Toll Holdings has posted a 33 per cent fall in first half net profit but says its second six months will be better than the same period last year. ...
Thu 26th February 2009 - 03:53pm
Lend Lease chief steps down- jobs axed
After six years at the helm of Lend Lease Corporation Greg Clarke has handed over the position of chief executive and managing director to Steve McCann. ...
Thu 26th February 2009 - 03:45pm
Telstra posts profit dip- CEO resigns
Telstra has posted a one per cent dip in first half profit and downgraded its full year earnings guidance as the economic downturn weighs on it. ...
Thu 26th February 2009 - 03:35pm
Growth figures defy dire predictions
Economists say the Australian economy may have escaped a quarter of negative growth after figures showed a surge in capital expenditure to almost $25 billion. ...
Thu 26th February 2009 - 03:32pm
Westfield sees growth in Australia- NZ
Property developer Westfield says it expects growth in the Australian and New Zealand retail market after reporting an annual net loss of $2.1966 billion. ...
Thu 26th February 2009 - 03:24pm
Lend Lease to cut 1-700 jobs after loss
Australia's largest property developer Lend Lease said it will cut 1-700 jobs over the next six months- after it posted an H1 loss of almost $600 million. ...
Thu 26th February 2009 - 02:51pm
Conquest Mining Limited ASX-CQT Robust High Grade Silver Gold Copper Mineralisation At Mt Carlton Project
Perth- Australia- Feb 26- 2009 - ABN Newswire - Conquest Mining Limited ASX-CQTPINK-CQMLF is pleased to announce that recent testing of the high grade zone at V2 Hill has more than confirmed the grades- with robust intersections.DrillingGold Fields commenced an 11 hole HQ3 diamond drilling program on V2 Hill in November 2008 and completed 9 holes. ...
Thu 26th February 2009 - 02:49pm
Lend Lease to cut 1-700 jobs
Property developer Lend Lease is cutting 2-000 jobs globally over the next six months- with about 400 of those in Australia. ...
Thu 26th February 2009 - 02:44pm
IAG first-half profit falls 96
Insurance Australia Group has reported a 96 per cent fall in first half profit after the country's biggest general insurer was hit by falling investment values. ...
Thu 26th February 2009 - 02:40pm
Arrow Energy enjoys steep jump in profit
Arrow Energy has achieved a steep rise in interim net profit and expects annual earnings of about $440 million- compared with $37.16 million in fiscal 2008. ...
Thu 26th February 2009 - 02:38pm
State urged to buy rail system
A Tasmanian economist says the Government should buy the states beleaguered rail network- and lease it out. ...
Thu 26th February 2009 - 02:37pm
State urged to buy rail system
A Tasmanian economist says the Government should buy the states beleaguered rail network- and lease it out. ...
Thu 26th February 2009 - 02:35pm
Competing interests could cloud NSW job summit
The Premier- Nathan Rees- is hoping a job summit in Sydney today and tomorrow will come up with ways of ensuring that the economic crisis does not become a human crisis as job loses start mounting. ...
Thu 26th February 2009 - 02:29pm
No-one to blame for Beaconsfield death- says coroner
A Tasmanian coroner has criticised the mining company Beaconsfield Gold- but found it was not directly responsible for the 2006 disaster in which miner Larry Knight was killed. ...
Thu 26th February 2009 - 02:28pm
Air NZ looks for tailwind in second half
Air New Zealand's profits may not be flying so high but the state-owned airline should face fewer headwinds in the second half of the 2009 financial year. ...
Thu 26th February 2009 - 02:22pm
Lend Lease to cut 1-700 jobs
Property developer Lend Lease says it will cut about 1-700 jobs globally over the next six months- with around 340 of those will be in Australia. ...
Thu 26th February 2009 - 02:18pm
Lend Lease to cut 1-700 jobs
Property developer Lend Lease says it will cut about 1-700 jobs globally over the next six months- with around 340 of those will be in Australia. ...
Thu 26th February 2009 - 02:16pm
Lend Lease to cut 1-700 jobs
Property developer Lend lease says it will cut about 1-700 jobs globally over the next six months- with around 340 of those will be in Australia. ...
Thu 26th February 2009 - 02:13pm
Trickle of students leaving Hopetoun could turn to flood
The Hopetoun Primary School has lost more than 30 students since BHP Billition shut down its nickel plant at nearby Ravensthorpe. ...
Thu 26th February 2009 - 02:11pm
Trickle of students leaving Hopetoun could turn to flood
The Hopetoun Primary School has lost more than 30 students since BHP Billition shut down its nickel plant at nearby Ravensthorpe.About 1-800 workers lost their jobs as a result of the mine closure and ...
Thu 26th February 2009 - 02:10pm
Capital expenditure up 6- says ABS
Local firms increased their planned capital spending in the fourth quarter despite the global economic slowdown- but future plans are easing- economists say. ...
Thu 26th February 2009 - 01:54pm
Telstra CEO Trujillo to leave company
Telstra chief executive Sol Trujillo will leave the company after four years to return to the US- where he plans to take time out with his family. ...
Thu 26th February 2009 - 01:53pm
No-one to blame for Beaconsfield death- says coroner
A Tasmanian coroner has criticised the mining company Beaconsfield Gold- but found it was not directly responsible for the 2006 disaster in which miner Larry Knight was killed. ...
Thu 26th February 2009 - 01:48pm
Storm Financial victims totally wiped out
A group set up to support investors stung by the collapse of a north Queensland investment company says the emotional toll has been enormous. ...
Thu 26th February 2009 - 01:40pm
Hold off on job cuts- Brumby tells companies
The Premier of Victoria- John Brumby- is urging companies to stop firing workers- until it is clear how long the global downturn will last. ...
Thu 26th February 2009 - 01:39pm
No-one to blame for Beaconsfield death- says coroner
A Tasmanian coroner has criticised the mining company Beaconsfield Gold- but found it was not directly responsible for the 2006 disaster in which miner Larry Knight was killed. ...
Thu 26th February 2009 - 01:38pm
No one to blame for Beaconsfield death- says coroner
A Tasmanian coroner has criticised the mining company Beaconsfield Gold- but found it wasnt directly responsible for the 2006 disaster in which miner Larry Knight was killed. ...
Thu 26th February 2009 - 01:36pm
Centro hit by $2.4bn loss
Centro Properties Group has reported a $2.4 billion first half loss as the shopping centre owner was hit by falling property values. ...
Thu 26th February 2009 - 01:34pm
Competing interests could cloud NSW job summit
The Premier- Nathan Rees- is hoping a job summit in Sydney today and tomorrow will come up with ways of ensuring that the economic crisis does not become a human crisis as job loses start mounting. ...
Thu 26th February 2009 - 01:33pm
Lend Lease to cut jobs after $596m loss
Australia's largest property developer Lend Lease said it will cut 1-700 jobs over the next six months- after it posted an H1 loss of almost $600 million. ...
Thu 26th February 2009 - 01:27pm
Citrus growers bracing for bitter harvest
Some Katherine citrus growers are reporting a disappointing and desperate harvest. ...
Thu 26th February 2009 - 01:24pm
More money for national building
The government is raising another $2.2 billion- mainly to pay for parts of its controversial national building and jobs plan. ...
Thu 26th February 2009 - 01:20pm
Mosaic Oil NL ASX-MOS Strong Interim Results Reflect A Continuation Of The Companys Solid Operational Performance Over The Last 4 Years
Sydney- Australia- Feb 26- 2009 - ABN Newswire - Australian oil and gas producer- Mosaic Oil NL ASX-MOSPINK-MSAOF today announced a record interim result for net profit after tax of A $3.117 million for the half year ended 31 December 2008- an increase of 39.4 on last years result for the corresponding period. The favourable result was based on a continuation of the Companys solid operational performance over the last 4 years. ...
Thu 26th February 2009 - 01:17pm
Australia stocks rise Toll up- but Macquarie slips
MELBOURNE- Feb 26 - Australian stocks rose 0.8 percent on Thursday- buoyed by gains for energy firms after oil prices surged- though the rise was capped as a number of firms- including Telstra Corp Ltd TLS- lowered earnings forecasts. ...
Thu 26th February 2009 - 01:15pm
Australia stocks rise Toll up- but Macquarie slips
MELBOURNE- Feb 26 - Australian stocks rose 0.8 percent on Thursday- buoyed by gains for energy firms after oil prices surged- though the rise was capped as a number of firms- including Telstra Corp Ltd TLS- lowered earnings forecasts. ...
Thu 26th February 2009 - 01:13pm
Inspectors to watch McDonalds pricing
The South Australian Government has fast food chain McDonalds in its sights over news of a new pricing structure. ...
Thu 26th February 2009 - 12:59pm
Citrus growers bracing for bitter harvest
Some Katherine citrus growers are reporting a disappointing and desperate harvest. ...
Thu 26th February 2009 - 12:57pm
No one to blame for Beaconsfield death- says coroner
A Tasmanian coroner has criticised the mining company Beaconsfield Gold- but found it wasnt directly responsible for the 2006 disaster in which miner Larry Knight was killed. ...
Thu 26th February 2009 - 12:54pm
Stocks buoyed by positive expenditure results
Australian stocks have been buoyed by news that capital expenditure was better than expected last quarter. ...
Thu 26th February 2009 - 12:45pm
Talks mean no ACTION for Brumbies fans
ACTION bus services to this weekends Brumbies game and the Canberra Show will be outsourced after a disagreement between management and staff. ...
Thu 26th February 2009 - 12:44pm
Bids lodged for ABC childcare centres
Around 180 formal binding offers have been lodged for the 241 ABC Learning Centres which were previously described as unviable. ...
Thu 26th February 2009 - 12:42pm
Talks mean no ACTION for Brumbies fans
ACTION bus services to this weekends Brumbies game and the Canberra Show will be outsourced after a disagreement between management and staff. ...
Thu 26th February 2009 - 12:38pm
Aussie jumps on strong investment data bonds slip
AUSTRALIAN CREDIT-FOREXSNAPSHOT FOREIGN EXCHANGE AT 0037 GMTagainst previous Sydney close AUD 0.6500-040.6505-10 AUDNZDR1.2735-531.2651-75 AUDJPYR 63.42-48 63 ...
Thu 26th February 2009 - 12:37pm
Economic downturn forces sacking apprentices- Minister says
Queensland Industry Minister Desley Boyle says companies across the state are sacking apprentices because of the economic downturn. ...
Thu 26th February 2009 - 12:37pm
No one to blame for Beaconsfield death- says coroner
A coroner has found that no one person or company was directly responsible for the 2006 death of Beaconsfield miner Larry Knight. ...
Thu 26th February 2009 - 12:34pm
Westfields Aust centres buck global trends
Shopping group Westfield says its Australian centres have helped it post a 10.4 per cent jump in full-year net profit. ...
Thu 26th February 2009 - 12:33pm
Talks mean no ACTION for Brumbies fans
ACTION bus services to this weekends Brumbies game and the Canberra Show will be outsourced after a disagreement between management and staff. ...
Thu 26th February 2009 - 12:32pm
No one to blame for Beaconsfield death- says coroner
A coroner has found that no one person or company was directly responsible for the 2006 death of Beaconsfield miner Larry Knight. ...
Thu 26th February 2009 - 12:31pm
McDonalds pricing in SA Govts sights
The South Australian Government has fast food chain McDonalds in its sights over news of a new pricing structure. ...
Thu 26th February 2009 - 12:29pm
Automotive Technology Group ASX-ATJ Signs Distribution Agreement With German Automotive Group IAP
Perth- Australia- Feb 26- 2009 - ABN Newswire - Leading Australian clean automotive technology company Automotive Technology Group ATG ASX-ATJ is pleased to announce that it has signed a distribution agreement with German automotive group- IAP Project Management GmbH IAP for the distribution of ATGs SprintexR supercharger products in Europe. ...
Thu 26th February 2009 - 12:26pm
Capital expenditure up 6- says ABS
Local firms increased their planned capital spending in the fourth quarter despite the global economic slowdown- but future plans are easing- economists say. ...
Thu 26th February 2009 - 12:25pm
Mesoblast Limited ASX-MSB Emerging Portfolio of Clinical Products Underpin Commercial Strategic Objectives
Melbourne- Australia- Feb 26- 2009 - ABN Newswire - Australias regenerative medicine company- Mesoblast Limited ASX-MSBPINK-MBLTY- today announced its half-yearly results.Mesoblast had cash reserves at 31 December 2008 of A $9.6 million- and remains well funded to execute on its strategic initiatives. ...
Thu 26th February 2009 - 12:18pm
Telstra CEO Trujillo to leave company
Telstra chief executive Sol Trujillo will leave the company after four years to return to the US- where he plans to take time out with his family. ...
Thu 26th February 2009 - 12:17pm
Otto Energy Limited ASX-OEL Confirms That Production Recommences At Galoc Oil Field Phillipines
Perth- Australia- Feb 26- 2009 - ABN Newswire - Otto Energy Limited ASX-OELPINK-OTTEF is pleased to confirm that production recommenced from the Galoc Field at 21.30 hours local time on 25 February 2009.Crude oil production is expected to return to pre-shut in levels of 14-000 barrels per day. ...
Thu 26th February 2009 - 12:17pm
Westfield sees growth in Australia- NZ
The world's biggest listed shopping centre owner Westfield Group says it expects growth in the Australian and New Zealand retail market in fiscal 2009. ...
Thu 26th February 2009 - 12:12pm
Po Valley Energy Limited ASX-PVE Second Offtake Agreement Secures Initial Sales Of A $150 Million For Castello And Sillaro Gas Fields
Perth- Australia- Feb 26- 2009 - ABN Newswire - A new sales contract announced today means Australian company Po Valley Energy Limited ASX-PVE has now pre-sold the first three years of production from its major northern Italy gas fields. The Company has announced that prominent Italian gas trading and distribution group- Elettrogas- will purchase 50 of the initial output from the Companys flagship Castello and Sillaro gas fields. ...
Thu 26th February 2009 - 12:12pm
Arrow to pursue Pure Energy bidding war
Arrow Energy is mulling its takeover offer for Pure Energy Resources after the target's directors and shareholders accepted a better offer from UK's BG Group. ...
Thu 26th February 2009 - 12:10pm
Australia stocks rise earnings downgrades weigh
MELBOURNE- Feb 26 - Australian stocks rose 0.7 percent on Thursday- buoyed by gains for energy firms after oil prices surged- though the rise was capped as a number of firms- including Telstra Corp Ltd TLS- lowered earnings forecasts. ...
Thu 26th February 2009 - 11:56am
Capital expenditure up 6- says ABS
New private capital expenditure rose 6.0 per cent in real terms- seasonally adjusted- in the December quarter- the Australian Bureau of Statistics ABS said. ...
Thu 26th February 2009 - 11:49am
School children brave croc infested waters
The Northern Territory Chief Minister Paul Henderson says hell look into reports children in a remote community are braving a billabong inhabited by crocodiles to get to school. ...
Thu 26th February 2009 - 11:48am
Average earnings rise 1.6 in Sept-Nov
Average weekly ordinary time earnings for adult full-time employees rose 1.6 per cent in the three months to November for an annual rate of 5.5 per cent. ...
Thu 26th February 2009 - 11:47am
Toll Holdings expects better second half
Transport and logistics company Toll Holdings has posted a 33 per cent fall in first half net profit after writedowns and says its second half will be better. ...
Thu 26th February 2009 - 11:35am
Scientists join Tarkine road campaign
More than 20 local- national and international scientists have joined the campaign against the $23 million Tarkine road in Tasmanias north west. ...
Thu 26th February 2009 - 11:28am
Scientists join Tarkine road campaign
More than 20 local- national and international scientists have joined the campaign against the $23 million Tarkine road in Tasmanias north west. ...
Thu 26th February 2009 - 11:27am
M2 Telecommunications Group Limited ASX-MTU Delivers 63 Increase In Half Year Earnings
Melbourne- Australia- Feb 26- 2009 - ABN Newswire - Diversified telecommunications services provider M2 Telecommunications Group Limited ASX-MTU today released its financial results for the half year ended 31 December 2008- delivering strong growth in earnings- earnings per share EPS- dividends per share DPS and consolidated revenues. ...
Thu 26th February 2009 - 11:24am
IAG profits plummet 96pc
Insurance giant IAG has reported a 96 per cent plunge in profit- warning the economic climate will continue to put pressure on earnings. ...
Thu 26th February 2009 - 11:22am
School children brave croc infested waters
The Northern Territory Chief Minister Paul Henderson says hell look into reports children in a remote community are braving a crocodile infested billabong to get to school. ...
Thu 26th February 2009 - 11:20am
Market loses early gains
Early gains on the Australian share market have fallen away. ...
Thu 26th February 2009 - 11:12am
Westfield hits loss on asset revaluation
Shopping centre developer Westfield Group has reported a net loss for fiscal 2008 of $2.19 billion- although it says underlying earnings were strong. ...
Thu 26th February 2009 - 10:57am
Rental crisis eases as investors return- REINSW
The Real Estate Institute of New South Wales says there are signs Sydneys rental crisis is easing- as investors return to the market. ...
Thu 26th February 2009 - 10:50am
Flight paths plan scrapped
Air Services Australia has confirmed it has scrapped plans for two new flight paths over Adelaides northern suburbs. ...
Thu 26th February 2009 - 10:49am
Business confidence down in SA- survey
Business confidence in South Australia has crashed in the wake of the global economic downturn- a bank survey has found. ...
Thu 26th February 2009 - 10:47am
Trujillo hangs up on Telstra
Telstra shares have fallen after high-profile chief executive Sol Trujillo announced he is stepping down and returning to the United States. ...
Thu 26th February 2009 - 10:44am
Origin forecasts increase in earnings
Power retailer Origin Energy Ltd has delivered an increase in first half profit and forecast up to a 25 per cent rise in earnings for the full year. ...
Thu 26th February 2009 - 10:39am
Queen Mary 2 arrives to Sydney dawn
The state Government says todays arrival of the superliner Queen Mary 2 will not trigger the traffic mayhem that marred the ships first visit to Sydney. ...
Thu 26th February 2009 - 10:32am
Asian Markets Overview of February 25
Sydney- Australia- Feb 25- 2009 - ABN Newswire - Asian shares fell broadly yesterday following the sharp losses in Wall Street. Japans Nikkei index extended its falling streak for the third trading session to a 26-year low. In Seoul- Kospi slumped 3.2. China market- which is said as one of the worlds best performers- saw a most massive drop of 4.6 in Shanghai Composite Index. Hong Kongs Hang Seng Index dropped 2. ...
Thu 26th February 2009 - 10:31am
Boart scraps dividend- cuts 2-000 jobs
Drilling services contractor Boart Longyear Ltd delivered a rise in profit and scrapped its final dividend after slashing 2-000 jobs. ...
Thu 26th February 2009 - 10:27am
Telstra CEO Trujillo to leave company
Telstra Corp Ltd has announced the departure of chief executive Sol Trujillo- after the group reported a one per cent dip in first half profit. ...
Thu 26th February 2009 - 10:26am
Australia shares advance- supported by oil producers
MELBOURNE- Feb 26 - Australian stocks gained 0.9 percent on Thursday- supported by energy stocks such as Woodside Petroleum Ltd WPL- though top phone group Telstra Corp Ltd TLS slipped after downgrading its earnings forecast. ...
Thu 26th February 2009 - 10:25am
Flight paths plan scrapped
Air Services Australia has confirmed it has scrapped plans for two new flight paths over Adelaides northern suburbs. ...
Thu 26th February 2009 - 09:57am
Trujillo hangs up on Telstra
Telstras high-profile chief executive Sol Trujillo is stepping down and returning to the United States. ...
Thu 26th February 2009 - 09:50am
Air NZ profits collapse 80pc
Air New Zealand has announced a huge drop in profits as the industry struggles with higher fuel prices and falling demand for travel. ...
Thu 26th February 2009 - 09:49am
Origin forecasts increase in earnings
Power retailer Origin Energy Ltd has delivered an increase in first half profit and forecast up to a 25 per cent rise in earnings for the full year. ...
Thu 26th February 2009 - 09:45am
Centro Properties reports $2.4b loss
Centro Properties Group has reported a $2.4 billion first half loss as the shopping centre owner was hit by falling property values. ...
Thu 26th February 2009 - 09:44am
Lend Lease makes $596m first-half loss
Property developer Lend Lease reported a loss of almost $600 million for the first half- and warned of continuing market volatility for the foreseeable future. ...
Thu 26th February 2009 - 09:44am
Public service cuts to be revealed tomorrow
The State Government remains tight lipped on its options for public service job cuts. ...
Thu 26th February 2009 - 09:44am
Trujillo hangs up on Telstra
Telstras high-profile chief executive Sol Trujillo is stepping down and returning to the United States. ...
Thu 26th February 2009 - 09:40am
ANZ slashes dividend by 25pc
ANZ will cut its dividend payout to shareholders by 25 per cent in 2009 because of the global financial crisis. ...
Thu 26th February 2009 - 09:38am
Swan defends job strategy- flags Budget changes
Federal Treasurer Wayne Swan has warned that economic conditions will get worse before they get better in the wake of yesterdays news that Pacific Brands is slashing almost 2-000 jobs. ...
Thu 26th February 2009 - 09:32am
Swan defends job strategy- flags Budget changes
Federal Treasurer Wayne Swan has warned that economic conditions will get worse before they get better in the wake of yesterdays news that Pacific Brands is slashing almost 2-000 jobs. ...
Thu 26th February 2009 - 09:29am
Pine waste may fuel Holden ethanol engines
Forestry waste from south-east South Australias pine plantations could produce fuel for Holdens proposed ethanol engines to be built at the Elizabeth plant in Adelaide. ...
Thu 26th February 2009 - 09:21am
Westfield hits loss on asset revaluation
Shopping centre developer Westfield Group has reported a net loss for fiscal 2008 of $2.19 billion- although it says underlying earnings were strong. ...
Thu 26th February 2009 - 09:19am
Telstra CEO Trujillo to leave company
Telstra Corp Ltd has announced the departure of chief executive Sol Trujillo- after the group reported a one per cent dip in first half profit. ...
Thu 26th February 2009 - 09:18am
Trujillo hangs up on Telstra
Telstras high-profile chief executive Sol Trujillo is stepping down and returning to the United States. ...
Thu 26th February 2009 - 09:15am
IAG first-half profit falls 96
Insurance Australia Group has reported a 96 per cent fall in first half profit after the country's biggest general insurer was hit by falling investment values. ...
Thu 26th February 2009 - 09:14am
Australia shares seen lower- banks set to drag
The countrys dominant telco Telstra Corp Ltd TLS is also likely to be in focus after the company said its controversial boss Sol Trujillo would depart on June 30. nSYU006097 ...
Thu 26th February 2009 - 09:13am
Competing interests could cloud NSW job summit
The Premier- Nathan Rees- is hoping a job summit starting in Sydney today will come up with ways of ensuring that the economic crisis does not become a human crisis as job loses start mounting. ...
Thu 26th February 2009 - 09:10am
Corporates- Goodman Fielders Profits Fall As Consumers Trade Down
We know that in this slowdown- it is possible to lose money selling people what they want- as well as what people dont want.The media is doing it tough as a result- some retailers are doing OK Woolies and JB Hi-Fi- health care companies are travelling OK as we saw with Sonic yesterday- but resources- oil and building companies remember Boral and James Hardie are struggling.Some have been hit through their offshore businesses Boral and Hardie and the resource companies- some have been hurt here by the slowdown in their sectors- or by the credit crunch e.g. banks and investors like AMP.Consumer products and consumer discretionary were supposed to be good havens- along with beer and gaming- the jury is still out on the latter- but if the consumer products group has high levels of debt- like Pacific Brands- then its trouble time- as nearly 2-000 Australians found yesterday.A major surprise yesterday was the poor result from major food group- Goodman Fielder.The shares plunged 18.5 $1.14 after the company- Australasias biggest listed food group- reported a 21.9 fall in interim earnings.That was despite a 12 rise in revenue- much of which was due to higher prices forced on it by higher input costs.Consumers were under pressure and in more and more cases were turning to cheaper house brands from major retailers.Its called trading down and is a major development in the US and UK retailing sectors- even involving consumers abandoning some retailers for the likes of cheaper Costco and especially Wal-Mart.Goodman Fielder GFF said net profit for the December half year was $73.9 million- down from $94.6 million in the previous corresponding period.Sales rose 12.2 to $1.48 billion.Goodman Fielder said it expects trading conditions to pick up in the second half of 2008-09 and be even more positive in 2009-10.As a result- it has forecast a strong rise in annual profit for this financial year. -amp quotNet profit after tax for the current year is expected to be in the range of $170 million to $185 million- -amp quot it said in a statement on Wednesday.Its 2007-08 net profit was $27.7 million. -amp quotDespite significant increases in commodity costs and the impact on inventory values at period end- working capital was held to a similar level to that as at the close of the prior financial year- -amp quot the company said in the statement to the ASX. -amp quotThere were two main contributory factors to the earnings decline- the extreme volatility of commodity costs and changing consumer buying patterns. -amp quotDuring the first half- high commodity costs impacted margins and added $120 million to the companys cost base. -amp quotAlthough international commodity costs are now retreating from an extended period at record high levels- little benefit was realised in the period due to time lags inherent in purchasing contracts and in clearing higher cost inventory of grains and oils- -amp quot Goodman Fielder said.It also noticed that negative economic conditions had hurt consumer confidence- resulting in a drift to cheaper alternatives such as house brand products. -amp quotThe continuing severe economic conditions have caused an erosion of consumer confidence and this has resulted in a drift to cheaper alternatives such as house brand products.This has impacted margins and had a negative effect on earnings which the company continues to combat by maintaining brand support and bringing new products to the market. -amp quotThe company continued to vigorously pursue internal savings through a continuing close attention to plant and other efficiencies. It is anticipated that this will result in a 5 reduction in employee numbers for the full year- predominantly through natural attrition. Restructuring costs incurred in the period amounted to $6.6 million. -amp quotGoodman Fielder said its key challenges were the impact of a recessionary economic environment on consumers and continuing volatility of commodity costs. -amp quotWe anticipate a softening of demand during the remainder of the financial year as our trading partners reduce inventory to preserve cash and to take advantage of falling commodity costs- -amp quot it added. -amp quotAs well- we expect a competitive pricing environment as industry participants endeavour to clear higher cost inventory. -amp quotThe company will benefit from softening commodity costs as this will assist with margin recovery- particularly in our baking- dairy and Asia-Pacific businesses. -amp quotGoodman Fielder declared an interim dividend of 4.5 cents- down from six cents in the first half of 2007-08.And the company believes it has no problems with debt- -amp quotThe company is comfortable with its net debt level of $1.1 billion as at 31 December 2008. Replacement arrangements for all maturations that will occur within the balance of the financial year have been completed- -amp quot Goodman said. -amp 160 ...
Thu 26th February 2009 - 08:56am
Pacific Brands On The Edge
Pacific Brands sparked a major story yesterday with the news that it will cut 1850 jobs from its Australian manufacturing and administration operations after posting a first half loss due to difficult market conditions.Despite the claims by the Federal Opposition- this cutback has been forced on the company by a combination of high debt and banks monstering the company.The market- after considering the Pacific Brands announcement- reacted by selling off the company in the last hour of trading.The share plunged to be down 37 at the close at 22 cents- after hitting an all time low of 21 cents.For all intents and purposes the company is in the hands of its banks and the market reckons theres no value.At that level the company is all but dead- with no future- unless someone can buy it.News of the job losses came without warning the relevant unions or the Federal and State Governments- a move that will unnecessarily provoke a round of ill feeling towards a company that has bought some of the problems on itself.The company is departing manufacturing in this country and will be gone by the end of next year.Manufacturing sites to close include the Bonds NSW factories in Unanderra in Wollongong with 207 job losses- Wentworthville in Sydney- which is set to lose 233 staff- and Cessnock- in the NSW Hunter Valley where 83 staff will be cut. At the King Gee plant in Bellambi- also in Wollongong- 74 staff will be made redundant- while a plant in West End in Brisbane- 56 will go.The cuts were decided on by the company after a lengthy review by management consultants- McKinsey and Co- a sure sign of a board and management uncertain- or unable to take the tough decisions.In fact for the company to depart Australia- when the Australian dollar is low it should have really gone last year when the dollar was high is a sign of the desperate straits it found itself in as sales slid- earnings dropped and retail conditions soured.Not even multi-million dollar marketing campaigns starring Sarah Murdoch and Pat Rafter the former tennis player and Michael Clark- the cricketer- could slow the slide.The company reported a net loss for the half year ended December 31 was $149.956 million- compared to a profit of $57.02 million in the previous corresponding period. Source- Comsec. -amp 160That result was made a loss by $206 million in write-downs.The board did not declare an interim dividend in order to preserve capital- and said a decision on the final dividend for fiscal 2009 will be made according to business conditions at the time.Ms Morphet said Pacific Brands will implement a new strategy- dubbed Pacific Brands 2010- to restructure the business- fold smaller brands to cut costs and complexity and shut down some clothing manufacturing in Australia. -amp quotUnfortunately these changes will necessitate 1850 jobs losses in Australia over an 18-month period including 1200 in clothing manufacturing- she said. -amp quotThe reduction in complexity will deliver the future strength- growth- profitability and sustainability of the business - for our shareholders and employees.The company says there was -amp quotno impairment of any recent acquisitions Sheridan- Yakka- Brand Collective -amp 62The company says the new strategy will deliver $150 million a year in cost savings by full year 2011 after an overhaul of sourcing- including closing the majority of its Australian clothing manufacturing operations.As well- Pacific Brands will offload non-core businesses- sell properties- relocate some head office functions and consolidate office space.One-off expenses of around $110 million would be incurred in the second half of 2009 with another $15 million in full year 2010 and 2011- the company said in a statement.The company will use increased operating cashflow to pay down debt which stood at $905 million at December 31.This may be complemented by asset sales- and would determine the most appropriate debt facilitates for the newly structured business.Ms Morphet said -amp 160the first half result as -amp quotsolid -amp quot and in line with the companys guidance.She said the current economic climate remains challenging and uncertain- with consumer confidence at low levels. -amp quotThe potential for the continuation of deterioration in the market means we are not in a position to confidently predict the second half performance- -amp quot she said.Revenue for the first half fell 5.2 to $1.04 billion- with the companys operating profit down 3.5.Impairment charges of more than $206 million plunged the company into losses.The company manufactures household brand names including Bonds- Holeproof- Dunlop- Stussy- Mossimo and Hard Yakka.The company said its Underwear -amp 38 Hosiery business -amp quothad strong performances from Bonds- Berlei and Hosiery- offset by decline in Clothing NZ and Holeproof. -amp quot -amp quotOuterwear -amp 38 Sport was up driven largely by the workwear group with strong performances across all business segments home Comfort sales decline driven by divested business NZ Foams- Flooring and Bedding and more discretionary higher priced items such as beds and bed linen footwear impacted by Grosby which had a very poor half with product quality issues and a lack of brand distinctiveness. -amp quotIt is improving with a good -amp quotback-to-school -amp quot season this January. -amp quotThe company said that after a period of declining retail sales and very low levels of consumer sentiment- -amp quotChristmas trading was stronger than expected with December 2008 ahead of last year -amp quotFollowing the devaluation of the Australian dollar- we have implemented price rises which began to take effect from 1 February 2009. -amp quotThe impact of price rise on volumes remains uncertain in the current environment and therefore it continues to be difficult to predict outcomes and provide earnings guidance. -amp quotPacific Brands said has extended the maturity date of its earliest maturing debt facilities- currently worth $550 million- until August 2010.The third tranche of debt- worth $250 million- matures on March 28- 2012. The company has gained easier covenants from its banks in exchange for the changes for 2009. -amp 160 ...
Thu 26th February 2009 - 08:54am
Goodman Property Groups Big Loss
The market gave property companies a hiding yesterday as Goodman Groups securities plunged in the wake of a very nasty result.The market sliced 28 from the companys securities after it reported a net loss of more than $465 million- compared with a net profit of $285 million in the first half of the 2008 year.This is the latest in a lengthening line of appalling results from the sector. Real Estate Investment trusts have shed more than 70 of their market value in the past year and some seemed bound for the knackerss yard- as the likes of Allco Equity- MFS- City Pacific- ABC Learning and others have already have gone. The Centro Group is struggling on a lifeline from its banks that has all but wiped out all of its shareholders.Goodman has cut back on development work- like its peers- such as Mirvac and Stockland which have chopped into their housing development plan for up to the next three years.These moves will conserve cash and capital.Mirvac saw its December half result move deeply into losses exceeding $645 million Stockland had a statutory loss of $726 million.Both companies took an axe to balance sheet values for property and listed assets here and offshore.Goodman saw had a similar experience- -amp quotthe key movements consist of a $487 million write-down in asset values- and a $171 million fall in the value of our listed investments- -amp quot the company said. Thats over $650 million.The $420 million non-cash mark to market valuation loss has been recorded against the Groups derivative positions. The bulk of this was interest rate related. Importantly the mark to market deficit does not impact on gearing covenants.For Mirvac- Goodman and Stockland- the non cash write-downs and other losses including Goodmans $420 million derivatives write-down the total losses were over $2.3 billion for the half year.Goodmans stapled securities fell to an all time low of 19 cents yesterday morning before recovering to 24.5 cents- down 5.5 cents- or 18.3.The net loss totaled $465.9 million included property and equity investment revaluations and some non-operating items.Analysts said the results were in line with the companys update last week- but it was still terrible.There was also a number of write-downs- including a loss on derivative valuation movements of $419.6 primarily relating to interest rate swaps.But the group maintained its distribution of 9.65 cents for the December half year. But the distribution was 17 cents a security a year ago.The company said it will take a conservative approach to development projects and has significantly cut new commitments to keep with its capital management strategy.Goodman posted operating income after tax of $216.2 million- but tidying up the accounts and cutting overripe valuations plunged the bottom line deeply into the red.It said it had -amp quotsuccessfully raised new equity of $956 million and completed $378 million of asset sales - of which- $210 million settled in the first half and a further $168 million to be settled in the second half. -amp quotCapital expenditure commitments significantly lower with development work in progress reduced to $1.5 billion down from $3.1 billion. Goodman Group is directly responsible for 11- with the remainder for third parties and our funds. -amp quotGoodman said it had -amp quotexecuted cost rationalisation strategy and restructured our Asian operations and Sound financial position maintained with available liquidity of $842 million as at 31 December 2008- headline gearing at 41.2 and an interest cover ratio of 3.4 times - well within the Groups debt covenant limits. Progressing positively on refinancing. -amp quotIt said it had cut back on more than $1.5 billion in projects to improve margins. -amp quotWhilst we are undertaking less activity in our development business- we are currently reviewing all projects to focus on doing only the best developments at the best margins. This means we have halved the size of our development work book- -amp quot the company said. ...
Thu 26th February 2009 - 08:53am
ANZ sees higher provisions for 2009
ANZ Banking Group Ltd says its provisions for the fiscal 2009 year are expected to be higher than last year and in line with market expectations. ...
Thu 26th February 2009 - 08:45am
Wall St closes down despite late rally
A late rally on Wall Street has helped to reverse steep losses from earlier in the session- but shares have still closed more than 1 per cent lower. ...
Thu 26th February 2009 - 08:44am
Trains to roll on while uncertainty grows
Tasmanias railways have lurched into another phase of uncertainty- with the State Government one step closer to a forced purchase of the network. ...
Thu 26th February 2009 - 08:39am
Govt didnt do enough to stop Pacific job cuts
The Council of Textile and Fashion Industries of Australia says the Federal Government is partially to blame for the big job cuts announced by clothing firm Pacific Brands yesterday. ...
Thu 26th February 2009 - 08:36am
Big turnout of Storm investors expected in Cairns
Organisers of a meeting of Storm Financial investors in far north Queensland are expecting a strong crowd in Cairns tonight. ...
Thu 26th February 2009 - 08:31am
Work to start this year on Gladstone LNG plant
A Western Australian company says it is hoping to start construction later this year on the first liquefied natural gas plant for the Gladstone region on the central Queensland coast. ...
Thu 26th February 2009 - 08:30am
Trains to roll on while uncertainty grows
Tasmanias railways have lurched into another phase of uncertainty- with the State Government one step closer to a forced purchase of the network. ...
Thu 26th February 2009 - 08:27am
Third appropriations bill before Assembly today
The ACT Government says its third appropriations bill will include about $2.5 million for upgrading childcare centres in Canberra. ...
Thu 26th February 2009 - 08:19am
Oil prices soar- US fuel reserves slide
Oil prices rallied on Wednesday- winning more than two dollars in New York- as the market reacted to news of sliding gasoline reserves in the United States. ...
Thu 26th February 2009 - 08:18am
ACT construction industry package before Assembly today
The ACT Government says its third appropriations bill will include about $2.5 million for upgrading childcare centres in Canberra. ...
Thu 26th February 2009 - 08:16am
ACT construction industry package before Assembly today
The ACT Government says its third appropriations bill will include about $2.5 million for upgrading childcare centres in Canberra. ...
Thu 26th February 2009 - 08:10am
Air NZ's earnings crash 84 per cent
Air New Zealand has announced its half year earnings were slashed 84 per cent to $NZ26 million $A20.6 million for the six-month period to the end of 2008. ...
Thu 26th February 2009 - 07:55am
SA mining conference still on agenda
An industry group representing Australian mining equipment and technology services says the South Australian Opposition is wrong to say a conference planned for Adelaide has been axed. ...
Thu 26th February 2009 - 07:41am
Hot conditions to test crews on 1-000k fire front
Victorian fire authorities say they are under pressure as they try to control fire fronts which now stretch for 1-100 kilometres. ...
Thu 26th February 2009 - 07:39am
Hot conditions to test crews on 1-000k fire front
Victorian fire authorities say they are under pressure as they try to control fire fronts which now stretch for 1-100 kilometres. ...
Thu 26th February 2009 - 07:38am
US announces start of stress tests for major banks
WASHINGTON AFP - US authorities announced plans Wednesday for so-called stress tests to be conducted through April on the -amp quotcapital adequacy -amp quot of troubled major commercial banks. ...
Thu 26th February 2009 - 07:25am
Wesfarmers gets $1.8b in capital raising
Coles owner Wesfarmers Ltd has completed a retail stock offering- securing commitments totalling $1.8 billion from investors. ...
Thu 26th February 2009 - 07:24am
US start 'stress tests' for major banks
US authorities announced plans on Wednesday for so-called stress tests to be conducted through April on the -amp quotcapital adequacy -amp quot of troubled commercial banks. ...
Thu 26th February 2009 - 07:24am
Nissan to cut 1-400 jobs in Spain- reports
MADRID AFP - Japanese automaker Nissan reached an agreement Wednesday with union officials at its plant in Barcelona to slash 1-400 jobs due to slumping global demand- Spanish media reported. ...
Thu 26th February 2009 - 07:23am
China spends $US10 billion in Germany
Chinese firms signed deals worth -amp quotmore than $US10 billion $A15 billion -amp quot with German companies on Wednesday- China's Trade Minister Chen Deming said. ...
Thu 26th February 2009 - 07:22am
Nigeria could be key gas player- Oil chief
ABUJA AFP - Nigeria could be a key player in the global gas industry if obstacles are removed- a multinational oil giants chief executive said Wednesday- as the west African country neared completing a deal with Russias Gazprom. ...
Thu 26th February 2009 - 07:18am
US announces start of stress tests for major banks
WASHINGTON AFP - US authorities announced plans Wednesday for so-called stress tests to be conducted through April on the -amp quotcapital adequacy -amp quot of troubled major commercial banks. ...
Thu 26th February 2009 - 06:49am
French jobless rate jumps by record amount
PARIS AFP - French unemployment soared by 90-200 to 2. ...
Thu 26th February 2009 - 06:32am
ASIC considers legal action against Storm Financial
The Australian Securities and Investments Commission ASIC says it is considering launching its own legal action against the failed investment advisory firm- Storm Financial. ...
Thu 26th February 2009 - 06:27am
Court confirms guilty verdict of ex-Qwest chief
DENVER- Colorado AFP - A federal appeals court in Denver on Wednesday reinstated the conviction of the former chief of telecoms giant Qwest- quashing a lower courts ruling for a new trial. ...
Thu 26th February 2009 - 06:14am
Coroner to rule on Beaconsfield collapse
The Tasmanian Coroner is preparing to hand down his findings into the mine disaster which killed a miner at the Beaconsfield mine in Tasmania on Anzac Day 2006. ...
Thu 26th February 2009 - 05:39am
French jobless rate jumps by record amount
PARIS AFP - French unemployment soared by 90-200 to 2. ...
Thu 26th February 2009 - 05:26am
EBRD to invest 7 bln euros in ex-Soviet bloc
LONDON AFP - The European Bank for Reconstruction and Development said Wednesday that it would invest a record 7.0 billion euros this year in the former Soviet bloc to combat an economic crisis in eastern Europe. ...
Thu 26th February 2009 - 04:26am
US existing home sales fall 5.3 percent in January
WASHINGTON AFP - US existing home sales fell 5. ...
Thu 26th February 2009 - 04:20am
Standard and Poors slashes Ukraine ratings
KIEV AFP - Standard and Poors said on Wednesday it had cut Ukraines credit ratings to reflect a vulnerability to default amid mounting concern the International Monetary Fund might hold back a promised loan. ...
Thu 26th February 2009 - 04:16am
Obama names Gary Locke as US Commerce chief
WASHINGTON AFP - President Barack Obama on Wednesday nominated Gary Locke- the first Chinese-American governor in US history- as Commerce Secretary- in his third attempt to fill the key cabinet post. ...
Thu 26th February 2009 - 03:57am
EU wants banks to come clean on toxic assets
BRUSSELS AFP - The European Commission on Wednesday unveiled plans for a common EU approach to handling -amp quottoxic assets- -amp quot with banks having to come clean about the size of the problem in order to give them -amp quota clean sheet -amp quot. ...
Thu 26th February 2009 - 03:39am
Europe must fight protectionism in auto sector
BRUSSELS AFP - Europe must make a concerted effort to avoid protectionism in the auto sector- which would only hurt the ailing industrys exports- the European Commission warned Wednesday. ...
Thu 26th February 2009 - 02:55am
US existing home sales fall 5.3 in January
WASHINGTON AFP - US existing-home sales fell 5. ...
Thu 26th February 2009 - 02:52am
EBRD to invest 7 bln euros in ex-Soviet bloc
LONDON AFP - The European Bank for Reconstruction and Development said Wednesday that it would invest a record 7.0 billion euros this year in the former Soviet bloc to combat an economic crisis in eastern Europe. ...
Thu 26th February 2009 - 02:33am
Vic bushfire insurance claims top $800m
Insurance claims from the Victorian bushfires have so far cost more than $800 million. ...
Thu 26th February 2009 - 01:47am
Vic bushfire insurance claims top $800m
Insurance claims from the Victorian bushfires have so far cost more than $800 million. ...
Thu 26th February 2009 - 01:37am
Pacific Brands jobs head overseas
The head of Pacific Brands says manufacturing clothing in Australia no longer gives it a competitive advantage. ...
Thu 26th February 2009 - 12:51am
Pacific Brands looks overseas to cut manufacturing costs
The head of Pacific Brands says clothing manufacturing in Australia is no longer a competitive advantage. ...
Thu 26th February 2009 - 12:48am
Vic bushfire insurance claims top $800m
Insurance claims from the Victorian bushfires have topped $800 million. ...
Thu 26th February 2009 - 12:47am
Vic bushfire insurance claims top $800m
Insurance claims from the Victorian bushfires have topped $800 million. ...
Thu 26th February 2009 - 12:46am
Coroner to rule on Beaconsfield collapse
The Tasmanian Coroner is preparing to hand down his findings into the mine disaster at Beaconsfield- nearly three years after a miner was killed in the ANZAC day rockfall. ...
Thu 26th February 2009 - 12:41am
Pacific Brands looks overseas to cut manufacturing costs
The head of Pacific Brands says clothing manufacturing in Australia is no longer a competitive advantage. ...
Thu 26th February 2009 - 12:37am
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