Kingsgate In Trading Halt Amid Speculations
Gold miner and explorer, Kingsgate Consolidated (KCN) fell by as much as 21% to $3.87 on Monday after the company requested a trading halt pending the release of an announcement.
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Newcrest Signs Definitive JVA With Japanese Mining Groups
Gold producer Newcrest Mining (NCM) announced today that it has signed a definitive joint venture agreement (JVA) with two Japanese mining groups, Nittetsu Mining Co and Mitsubishi Materials Corporation, to explore for copper-gold in the Namosi region of Fiji.
Read MoreOxiana Approves $200 Million Expansion At Laos
Oxiana (OXR) announced today that it has approved a $200 million expansion at its Sepon copper project in Laos in order to increase copper output by as much as 30%.
Read MoreVentracor Announces ‘Milestone’ FDA Approval
Medical technology company Ventracor (VCR) said today that the US Food & Drug Administration (FDA) has recommended conditional approval for the marketing of a second generation Left Ventricular Assist Device (LVAD), developed by rival company Thoratec.
Read MoreCooper Energy Soars As Energy Firms Struggle
While most energy firms struggled today following a slump in oil prices in the US on Friday, Cooper Energy soared as much as 80% to an all time high of $1.295 after it said it had discovered a new oil field in the Cooper Basin. In addition, oil shows have been detected at its Indonesian well.
Read MoreSurprise Switch On Rates
Investment bank, Goldman Sachs JBWere now says there won't be a rate rise in Australia next year because of the worsening prospects for the US and world economies, the continuing upward pressure on market interest rates, and the fact that risk levels are now at or near record highs.
Read MoreNAB’s Third Go At America
Six years after writing off billions of dollars of write-downs and losses on poorly run mortgage business, the National Australia Bank moved back into the US market.
Read MoreRetail Action For WOW, WHS, DJS
The chances of a capital return for Woolworths shareholders in 2008 have dropped following a court decision that will allow the retailer to bid for The Warehouse Group, in competition with its Kiwi grocery rival, Foodstuffs.
Read MoreCommercial Property Solid
Of all the sectors that have been an indicator of trouble in the Australian economy, none have been as good as the broadacres housing development and the CBD office tower, or commercial property.
Read MoreCape Lambert To Proceed With Caution
Cape Lambert Iron Ore (CFE) will proceed with caution when it comes to potential new interests in the business after $270 million sale agreement fell through earlier in the year, the business told its shareholders. Speaking at the annual general meeting today, chairman Ian Burston said the business will not take success for granted.
Read MoreMurchison Will Continue Chasing Midwest
At its AGM today, Murchison Metals (MMX) said that it has not ruled out offering an additional sweetener to get its all-scrip takeover bid accepted by Midwest Corporation (MIS)
Read MoreGunns Takes Control Of Auspine…Finally
Tasmanian Timber Giant Gunns (GNS) has finally taken formal ownership of Auspine after a long drawn out takeover battle.
Read MoreTattersall’s Struggle
Tattersalls Limited (TTS) told its shareholders today it will be hard to beat last years operating profit result, due to regulations imposed on the business by the Victorian government.
Read MorePrimary Tries To Sweeten $2.7 Billion Bid
Primary Health Care (PRY) announced today that it will declare its $4.10 offer for Symbion Health (SYB) unconditional and accelerate the payment terms if it receives at least 50.1% of acceptances by December 10.
Read MoreCredit Where Credit Is Due
Credit markets around the globe have taken a battering recently, both in real terms and figuratively speaking. The world of credit is invariably described as ‘frozen', ‘crunched', or, see above, ‘battered'. And while these may be suitable adjectives for the US or European markets, in Australia it's hard to see how they apply.
Read MoreBHP Confident, China Isn’t
BHP Billiton's play for Rio Tinto has overshadowed the impact of the volatile commodities markets on its share price (and Rio's) in recent weeks.
Read MoreABB Plans To Expand Despite Profit Slump
Adelaide-based ABB Grain yesterday revealed it was continuing to diversify away from concentrating on barley and grains with a move deeper into the wool industry.
Read MoreConstruction Booms
The resources and infrastructure booms continue to boost economic activity, with no sign of an easing.
Read MoreOroton-Allied
Australian luxury goods maker Oroton group says its first quarter performance is in line with expectations.
Read MoreExplaining The Unexplainable
Last night's ferocious rally in US equity markets has spread through the Australasian region today, providing relief for nervous investors.
Read MoreNAB’s $900 Million Purchase
National Australia Bank (NAB) announced today that it plans to buy Great Western Bancorporation, the holding company of the American Great Western Bank, for $900 million.
Read MorePMP Completes Acquisition
Printing and media services company, PMP Limited (PMP) said on Thursday it had completed the acquisition of Times Printers (Australia) Pty Ltd (TPA) from Times Publishing Limited (TPL) of Singapore.
Read MoreBluescope Unveils Blueprint
Shares in BlueScope rose up as much as 5.5% to $9.97 on Thursday after the company unveiled a blueprint which will focus on the company's Australian and New Zealand domestic business.
Read MoreGLM To Acquire QLD Iron Ore Project
Gulf Mines (GLM) rose today after the minerals exploration company announced that it has entered into an option agreement with Queensland Industrial Minerals (QIM) to acquire an iron ore project near Bundaberg in QLD.
Read MoreBrickworks: No Relief From Building Slump
Building materials company Brickworks Ltd says its first quarter earnings are down around 15% because of poor weather and tough conditions in the housing market, especially in NSW.
Read MoreCitigroup Saved
With private equity out of the game, sovereign wealth funds are starting to flex their muscles around the world. and Dubai's indicated a hunger for situations in the US and Asia.
Read MoreNew ANZ CEO’s Quaint Call
The new ANZ Banking Group CEO, Mike Smith has joined retiring Westpac CEO, David Morgan in calling for the abolition of the four pillars banking policy to allow Australian banks to compete with a looming wave of competition from Asia.
Read MoreCampbell Brothers Finds Sceptical Market
Despite an optimistic outlook for the second half, shares in Brisbane-based mining services group, Campbell Brothers were sold off yesterday by more than 2%.
Read More$7.5 Billion To Save Citigroup? Unlikely.
In a market desperate for some good news, yesterday's revelation that the Abu Dhabi Investment Authority (ABIA) had invested US$7.5 billion in Citigroup was seen as a positive.
Read MoreBHP Still Hopeful Of A Rio Merger
BHP Billiton (BHP) fell today after its annual general meeting (AGM) in Adelaide where it said it will aggressively continue its takeover pursuit of Rio Tinto.
Read MoreGindalbie Remains On The Lookout
Iron ore explorer, Gindalbie Metals (GBG) said it maintains a positive outlook and will continue its transition into an iron ore company in the year ahead, despite some challenges in the past year.
Read MorePBL Split Approved
James Packer's Publishing and Broadcasting (PBL) rose today after the company announced that the federal court had voted in favour of the PBL Scheme and Demerger Scheme.
Read MoreRudd’s WIN: Some Views On The Economy
Here's several views on the new government and the economy.
Read MoreZinifex’s $2.2 Billion War Chest
Zinifex is cashed up and looking to either spend via acquisitions or by way of capital return to shareholders.
Read MoreTabcorp’s Mixed Outlook
Amid all the hoopla around BHP Billiton, China and Rio, it's been a miserable start to the 2008 year for gaming giant, Tabcorp.
Read MoreRio’s Big Sell
Rio Tinto says it will lift this year's dividend 30% and spend $US3 billion on iron ore and diamond mines as it defends itself against the unwanted approach from BHP Billiton.
Read MoreBrickwork’s Q1 Mixed Results
Building products and investment company, Brickworks Limited (BKW), shares added 5 cents to $13.59 after it noted mixed first quarter results at today's annual general meeting due to tough market conditions.
Read MoreHealthscope Bid For Symbion Falls Through
Today Symbion Health (SYB) announced that the Australian Tax Office (ATO) has ruled that it cannot benefit from scrip for scrip capital gains tax rollover relief in the $2.8 billion bid from private healthcare operator Healthscope (HSP).
Read MoreBeach Make Another Oilfield Discovery
Beach Petroluem said on Tuesday it has discovered another oil field in the Parsons field located in West Cooper Basin, South Australia.
Read MoreGunns Positioned For Auspine Takeover
Tasmanian timber giant Gunns (GNS), which owns more than 60% of Auspine has launched an offer to acquire all remaining shares in the South Australian forestry company.
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