BUSINESS

Sigma says no formal offer yet from Aspen

Sigma Pharmaceuticals Ltd, Australia’s major drug manufacturer, says it has not been given any formal offer by Aspen Pharmacare of South Africa as of yet, as the latter intends to continue carry out due diligence.

Uranium Awaits The DOE

The spot uranium market was quiet last week ahead of the final US Department of Energy inventory sale for 2010.

AIR Midday Market Roundup

The market is down 11. The SFE Futures were down 13 this morning. It looks as if the market will close down for the 10th...
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Macarthur ups profit guidance

Macarthur Coal has upped its 2009-10 profit guidance today following its post of better-than-forecast sales of coal for the fiscal year.

Brown pledges to scrutinise new tax

Senator Bob Brown on ABC television last night pledged to put the revised tax through a ''very close Senate scrutiny'' with a purpose of studying the repercussions on small business.

Heemskirk outbids Conquest for NQM

Heemskirk Consolidated has defeated Conquest Mining with an $84 million scrip bid for North Queensland Metals.

Bilfinger postpones Valemus IPO

Germany's Bilfinger Berger has suspended the initial public offering of its Australian business recently named Valemus, citing a weak market.

Car Sales: At Record Levels In June

Once again the core paradox on the consumption side of the Australian economy has been underlined.Another solid month of...

Assets: CSR Sells To Singapore

CSR has sidestepped a political touchy deal with a big Chinese food group and plumped for a Singaporean company as the b...

Superannuation: Reforms On The Way?

Forget the argument over the resource tax, the debate over company tax cuts and the higher superannuation contributions,...

World Market Overview

European shares ended slightly lower Monday after struggling for direction amid lingering worries about growth and with U.S. markets closed for a holiday, although oil giant BP managed to gain ground.

NAB, Leighton pursue Matrix earnings

National Australia Bank and Leighton Holdings are suing the US distributor Warner Bros for $95m in a dispute over the rights to The Matrix.

The Overnight Report: For What It's Worth

While Wall Street enjoyed a public holiday the rest of the world took the opportunity to take a breather as well. European indices down 0.3% in thin trade.

Market to start flat

The Australian bourse is expected to start flat this morning after taking mostly flat to negative leads from major Asian and European markets yesterday as Wall Street stayed closed for the US July 4 Holiday.

Asia’s growing appetite for Australian assets

Multibillion-dollar offers from China, Singapore and Thailand for CSR's Sucrogen and Centennial Coal reflects a rise in Asian interest for a broad range of Australian assets.

Bright snubbed: CSR's Sucrogen goes to Wilmar International

CSR Limited has announced the sale of its newly spun-off sugar business, Sucrogen, to Singaporean agribusiness giant Wilmar International, for A$1.75 billion, rejecting previous offers from China's Bright Food Group, including a conditional offer at the same amount. The company has also rejected its...

Controversy over 'free range' redefinition

Plans by the Australian Egg Corporation Ltd to review the standards of free range egg production have caused a schism in the industry, with free-range producers refusing to agree to changes that could see the maximum number of 'free range' birds per hectare increase from 1500 to as many as 20 000, a...

Nestlé to invest in the Philippines

Swiss food giant Nestlé is to invest PHP 4.3 billion (A$110.5 million) in the construction of a Coffee-mate and Bear Brand factory in the Philippines.Construction on the 27-hectare site in Tanauan, Batangas will begin this month and is expected to be completed in March 2012, John Miller, chairman a...

Birds Eye UK launches sustainability initiative

UK frozen foods business Birds Eye Iglo is launching a company-wide sustainability plan called 'Forever Food'.The group has committed to sourcing 100% of wild and farmed fish from certified fisheries by 2012, reduce packaging by 15% by 2012, reducing water consumption used in manufacturing by 20% by...

Australian Banks Likely To Raise Rates Independent Of Central Bank Tightening

The chief operating officer of regional lender Bank of Queensland Ram Kangatharan, says that Australian banks face deteriorating funding conditions which likely cause lenders to raise interest rates independently of the central bank.Mr. Kangatharan says that the deteriorating funding climate is addi...

Australian Housing Grows More Unaffordable

According to the findings of a new report, housing in Australia has gotten increasingly unaffordable over the last year, with first time buyers needing stump up 10 per more for a deposit.The report which was released by Bankwest suggests that a couple in Australia now needs to raised $85,800 as a de...

IG Markets Australian Market Wrap

The Australia 200 CFD Index closed 0.4% softer at 4222.1, with industrial and consumer staples names detracting most of the points.

Cardno set to raise $49 million for planned acquisitions

Cardno Ltd said Monday that it is set to raise $49 million through capital raising, which the company intends to use on planned acquisitions of two leading US environmental consultancy group and balance sheet strengthening.

Aussie dollar moves up, ends 5-day skid

The Australian dollar moved up ending a five-day drop against other currencies, as Asian stocks advanced and signs the nation's labour market is improving enticed demand for higher-yielding assets.

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