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Share price drop could encourage BHP Woodside bid

June 21st, 2011

AUBJ – June 21 – BHP Billiton could be about to launch an A$35 billion takeover bid for Woodside Petroleum, according to market analysts, after shares in the Perth-based explorer closed below $40. It is the first time in 10 months that shares have finished so low and followed investor reaction t... Read More

“Positive” hopes for strike-affected mines

June 21st, 2011

AUBJ – June 21 – Strike talks between BHP Billiton and striking miners in the Bowen Basin ended on a “positive note” on Monday raising hopes that an agreement between the two parties is close. The discussions were set to continue on Tuesday after Monday’s discussions focused on how eq... Read More

Mining not transparent – lawyers

June 21st, 2011

The public has less access to details of major coal mining projects than simple housing developments, environmental lawyers warn. A group of lawyers known as the Environment Defenders Office (EDO) have highlighted the discrepancies in a letter to Queensland Premier Anna Bligh. This comes as coal sea... Read More

Stocks jump 1.3pc on energy gains

June 21st, 2011

Australian shares held on to early gains to put in their best performance in about a week on the back of firm offshore leads. However, investors remain nervous ahead of a vote on Greek austerity measures. The benchmark S&P/ASX200 index today was up 56.5 points, or 1.27 per cent, at 4508.2 point... Read More

Foster’s soars on bets of SABMiller will raise the value of its rejected bid

June 21st, 2011

Shares in Foster’s Group soared today on expectations SABMiller will have to increase its near $10 billion rejected bid to secure the maker of iconic Australian beers such as VB and Carlton. Foster’s, which recently spun-off its struggling wine division, said the $4.90 a share offer “s... Read More

No urgency to lift interest rates: Reserve Bank minutes

June 21st, 2011

Minutes from the June policy meeting of the Reserve Bank of Australia signalled today that the board was in no rush to tighten policy, sending the currency sharply lower amid growing signs of global economic uncertainty. “Members judged that it would be prudent to leave the stance of policy un... Read More

F&N target Australia milk market from new Thai facility

June 20th, 2011

AUBJ – June 20 – Fraser & Neave’s (F&N) has opened an A$110 million canned milk factory in Thailand’s Ayutthaya province, as it looks to increase its market share in Australia and several Asian counties. The food and beverage manufacturer’s new plant will produce up to 3.5 millio... Read More

Federal backing for huge solar projects

June 20th, 2011

AUBJ – June 20 – The Australian government has pledged three quarters of a billion dollars to help build two of the country’s largest solar projects. The two projects, Solar Dawn in Queensland and Moree Solar Farm in New South Wales, were selected as the two successful first round proposals to... Read More

Focus centres on Crescent

June 20th, 2011

AUBJ – June 20 – Western Australian-based Focus Minerals has made a bid for Crescent Gold as it aims to become one Australia’s largest gold producers. The deal would lead to the creation of an A$460 million mid-tier miner and would represent further consolidation in Australia’s gold sector. ... Read More

ICANN backs new domain suffixes

June 20th, 2011

The world’s peak internet regulator today opened a new chapter on the internet’s history when it voted to allow organisations to run their own generic domain suffixes alongside the likes of .net, .org and .com. The Internet Corporation for Assigned Names and Numbers (ICANN) board today r... Read More

Victorian desal workers ordered back to work

June 20th, 2011

The workplace tribunal has ordered about 1000 striking workers at Australia’s biggest desalination plant back to work. The workers left the plant at the Victorian town of Wonthaggi on Friday in a dispute over the way redundancies will be handled as parts of the project wind down. Construction ... Read More

Cattle trade talks constructive – Ludwig

June 20th, 2011

Australia’s Agriculture Minister Joe Ludwig has described discussions with Indonesian officials aimed at resuming live cattle exports as constructive. Speaking as he arrived at the Agriculture Ministry in Jakarta on Monday afternoon, Senator Ludwig said it was hoped the trade would resume as s... Read More

Corrs Chambers Westgarth adds 11 partners

June 20th, 2011

Corrs Chambers Westgarth has promoted a record 11 lawyers to partner as part of its mid-year appointments, more than double the number selected last year. The internal promotions come on the back of 10 new lateral partner hires since January, bringing to 21 the number of new partners since the start... Read More

Pluto project hit by delays

June 17th, 2011

AUBJ – June 17 – Woodside Petroleum’s shares plummeted on Thursday after it announced a six-month delay and A$900 million budget over-run at its flagship Pluto gas-export project. Woodside shares had fallen by 3.8 per cent at the close of trading following the announcement. It is the latest si... Read More

Copper price staggers

June 17th, 2011

AUBJ – June 17 – The price of copper has fallen following fears of a slowdown in US growth and instability. Copper has come under pressure from the release of disappointing US economic data that suggests growth is stumbling in the world’s largest economy. Losses, however, have been limited by ... Read More

Strike action continues at Queensland coalmines

June 17th, 2011

AUBJ – June 17 – BHP Billiton coal workers have continued to strike in central Queensland following instructions to halt work by the Construction, Forestry Mining and Engineering Union (CFMEU). It is the first time in a decade BHP workers have gone on strike, as mine labourers ask for better pay... Read More