BUSINESS

Analysts say ConsMedia is taking steps to privatisation

Consolidated Media Holdings Ltd (ConsMedia) has announced Friday that it is asking its shareholders to use $225 million in its plan to buy back 11.88 percent of the company’s 620.71 million shares on issue, which analysts said are indications that the media company is on road to become private anew.
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NAB survey say commercial property heads for growth

A National Bank of Australia (NAB) survey has revealed Thursday that capital values will be raised across all commercial sectors, as expansion in commercial properties is expected over the next 12 months with the office sector coming out as the lead player and edging out the retail and industrial sectors.

Iluka Resources touts increased mineral demands for 2010

Iluka Resources Ltd has reported that demands for high value mineral sands, such as zircon and rutile, increased on key markets in the first quarter of the year following restrained output during the global financial crisis.

Telstra plans to hike competitions’ access charges

Telstra has announced plans to impose an additional 20 cents charge on competitors accessing the company’s copper network, and raising the possibility that consumers will soon foot much higher internet and phone bills.

Caltex reports sales surge but remains cautious on outlook

Caltex Australia Ltd has released on Thursday its unaudited first quarter profit which showed sales spikes of up to 33 percent or $130 million on a replacement cost of sales operating profit (RCOP) basis, as the oil company cautioned that its short term outlook is largely tentative at this stage.

No plans to sell AVIVA: NAB

The National Australia Bank scrapped the idea of selling its Aviva wealth management business which was acquired ten months ago, as it still has unfinished business on the AXA Asia Pacific takeover bid.

Government set to effect new measures for mining safety

The State Mining Engineer has announced that the government is poised to collect millions via a safety regulation tax as the Department of Mines and Petroleum is set to impose fresh steps that will secure the safety performance of the resource industry.

BHP faces $2.7M graft scandal

Trouble looms over BHP Billiton as it faces a controversial a graft scandal on its exploration project in Cambodia.

IronClad Mining reveals joint venture with Chinese firm

A joint venture with China is in the offing for South Australia as Adelaide-based IronClad Mining Ltd has announced Wednesday that MCCM Capital Management Co Ltd is set to buy the mining firm’s stakes offering that could reach up to 4.4 million shares.

ANZ joins bidding race for KEB

Media reports revealed that ANZ Bank may seek to expand its business in Asia by bidding for a $4 billion stake in Korea Exchange Bank.

BHP Billiton dodges new controversy

Australian mining giant BHP Billiton is trying to dodge from the backlash the befell world's largest investment bank Goldman Sachs after it was revealed that the U.S. Securities and Exchange Commission was investigating the firm over alleged violations of anti-corruption laws.

ERA upbeat on stronger uranium market

The Energy Resources of Australia (ERA) has expressed optimism that the uranium market is bound for a more robust status over the long haul, as ERA chairman David Klingner is confident that nuclear power will remain as the forefront option for global energy solution.

AXA sales gained further amidst takeover battles

AXA Asia Pacific gained more sheen for takeover bids as the company reported yesterday that its first quarter sales for 2010 bumped up to 92 percent or an actual currency value of $146, with its strong sales surge pushed forward by the upbeat Asian markets.

Survey groups appalled over home ownership pessimism

In a recent poll conducted by both Mortgage and Finance Association of Australia and Commonwealth bank-owned Bankwest Retail, majority of young Australians fall under the category of lifelong renters instead of real estate owners.

Seven nods $3bn merger with WesTrac

Shareholders of Seven Network media group on Tuesday approved the planned merge with privately-owned earthmoving giant WesTrac after deliberating on the move for two-and-a-half hours.

AIG repeats its support for QR deal

The Australian Industry Group today reiterated its support for the sale of QR National and must be operated as a private entity to contribute to the increased competitiveness in the economy.

Telco's performance is “legendary” poor: ACMA

The Australian Communications and Media Authority is unsatisfied with the telecommunication industry’s ”legendary” poor performance on consumer service and threatened entities to change the regulator’s consumer protection codes into mandatory standards.

Newcrest to alter its deal with Lihir

Newcrest Mining announced today it is ready to make some changes regarding its takeover bid for Lihir Gold, presenting the shareholders a mix of either shares or cash.

ASIC propose disclosure to infrastructure sector

The Australian Securities & Investments Commission yesterday proposed a regulation to protect retail investors from using complex and risky financial systems, costly management fee structures and company disputes.

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