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Transurban Group (TCL), the company that operates toll roads in Australia and United States has declined a $6.7 billion takeover bid offered by two Canadian pension funds. However, the group has kept its door open for a better deal. According to some experts, the takeover bid could hit $7.5 billion mark. The two Canadian pension funds are currently looking forward to restart talks with the toll road giant regarding the takeover. Advertisement: read more

The Australian company Woodside Petroleum (WPL), which focuses on operation and management of hydrocarbon exploration, production, marketing, development, and transportation, operation and execution of the North West Shelf Gas Project has taken further initiatives to secure funds for the investments in a number of Australian gas assets by issuing $US700 million worth of corporate bonds in the United States. Advertisement: read more

One of the largest banks of Australia, Westpac Banking Corporation (WBC) has appealed last month’s High Court ruling in New Zealand regarding the structured financial transactions which might cost it as much as $NZ918 million plus penalties. Westpac stated that it had reviewed Judge Rhys Harrison's ruling termed the transaction as an attempt to avoid paying tax. Advertisement: read more

Australia based commercial broadcaster Seven Media Group has reduced the value of its television network by $1.5 billion putting the company into a total loss of $1.9 billion in annual accounts which was published on Monday. The alliance of Seven Netwrok and private equity firm KKR dropped to a negative equity of $1.7 billion due to Seven Network’s (SEV) liabilities which outstripped its assets by as much as $1.7 billion. Advertisement: read more

Rio Tinto (RIO), the renowned global mining company is planning to double its capital expenditure for the next year. The company has recently announced its budget of up to $US3.5 billion which it is planning to spend to pursue the growth projects. Rio chief executive Tom Albanese stated that strategic decisions taken by the company during the financial crisis has put Rio into a stronger position to utilize the present market opportunities. Advertisement: read more

The Australia based gold mining company Lihir Gold (LGL) has posted a 20 percent decline in production for the third quarter offset by an unexpected increase of reserves and commitment to go for paying out regular dividend. According to Arthur Hood, the managing director of the company, Lihir would make a payment of US1.5c dividend at the end of November; the first dividend the company would be paying since 2003. It is to be mentioned that Lihir made a 2c payout per share in 2003. Advertisement: read more

The Australia based gold mining company Lihir Gold (LGL) has posted a 20 percent decline in production for the third quarter offset by an unexpected increase of reserves and commitment to go for paying out regular dividend. According to Arthur Hood, the managing director of the company, Lihir would make a payment of US1.5c dividend at the end of November; the first dividend the company would be paying since 2003. It is to be mentioned that Lihir made a 2c payout per share in 2003. Advertisement: read more

Mirvac Group (MGR), a company that is involved in the real estate business is currently talking with two US based companies regarding the sale of Mirvac Industrial Trust. Among these two companies, one is privately owned while the other one is a listed company. These two groups have come forward to hold talks with Mirvac Group as the company called for expressions of interest in the portfolio of 66 warehouse assets located in Chicago previously in the current year. Advertisement: read more

Mirvac Group (MGR), a company that is involved in the real estate business is currently talking with two US based companies regarding the sale of Mirvac Industrial Trust. Among these two companies, one is privately owned while the other one is a listed company. These two groups have come forward to hold talks with Mirvac Group as the company called for expressions of interest in the portfolio of 66 warehouse assets located in Chicago previously in the current year. Advertisement: read more

Renowned Australia based skate, snow and surf apparel and accessories manufacturer and distributor Billabong International (BBG) has claimed that the financial tide is turning in United States with the company performing marginally better than the expectation. Billabong is expecting to see a weaker fast half followed by a strong second half. The company repeated its annual net profit growth forecast based on constant currency terms. Advertisement: read more

Renowned Australia based skate, snow and surf apparel and accessories manufacturer and distributor Billabong International (BBG) has claimed that the financial tide is turning in United States with the company performing marginally better than the expectation. Billabong is expecting to see a weaker fast half followed by a strong second half. The company repeated its annual net profit growth forecast based on constant currency terms. Advertisement: read more

The worldwide diversified financial service provider Macquarie Group (MQG) has faced renewed pressure in the value of its holdings in debt-laden infrastructure funds after it saw the sale of a stake in one of the company’s flagship European funds with almost 15 percent discount to the valuation which was conducted just a few months earlier. Advertisement: read more

The worldwide diversified financial service provider Macquarie Group (MQG) has faced renewed pressure in the value of its holdings in debt-laden infrastructure funds after it saw the sale of a stake in one of the company’s flagship European funds with almost 15 percent discount to the valuation which was conducted just a few months earlier. Advertisement: read more

Australia based Babcock & Brown Infrastructure Group (BBI), which is engaged in the business of acquisition, management and operation of quality infrastructure assets in Australia and some other countries has warned the rebellious exchangeable preference shareholders that it might go for taking legal actions against them for the damages that the company might face if wrong information leads to a turn down of a $1.8 billion worth of recapitalisation. Advertisement: read more

Australia based Babcock & Brown Infrastructure Group (BBI), which is engaged in the business of acquisition, management and operation of quality infrastructure assets in Australia and some other countries has warned the rebellious exchangeable preference shareholders that it might go for taking legal actions against them for the damages that the company might face if wrong information leads to a turn down of a $1.8 billion worth of recapitalisation. Advertisement: read more

Santos (STO), the Australia based oil and gas producer has claimed that it is currently in a good position to meet its production guidance for calendar 2009. The announcement came following a raise in the company’s third quarter output where it lifted the figures by 5 percent. Production of oil has increased to 13.9 million barrels equivalent in the first three months till September 30 where in the same quarter a year earlier, the production was 13.2 mmboe. Advertisement: read more

Santos (STO), the Australia based oil and gas producer has claimed that it is currently in a good position to meet its production guidance for calendar 2009. The announcement came following a raise in the company’s third quarter output where it lifted the figures by 5 percent. Production of oil has increased to 13.9 million barrels equivalent in the first three months till September 30 where in the same quarter a year earlier, the production was 13.2 mmboe. Advertisement: read more

Chairman of Qantas Airways (QAN) Leigh Clifford and his board were rebuked by the shareholders for the second consecutive year over the issue of executive pay. About 44 percent votes went against the Qantas decision of a huge remuneration for Geoff Dixon, who is the former chief executive of the Airlines. It is to be mentioned that Mr. Advertisement: read more

Chairman of Qantas Airways (QAN) Leigh Clifford and his board were rebuked by the shareholders for the second consecutive year over the issue of executive pay. About 44 percent votes went against the Qantas decision of a huge remuneration for Geoff Dixon, who is the former chief executive of the Airlines. It is to be mentioned that Mr. Advertisement: read more

Despite the considerable uncertainty in the worldwide economy, Australia based renowned hearing solution manufacturer and supplier Cochlear (COH) has forecasted a positive outlook for its business. According to the chairman of the company Tommie Bergman, Cochlear is currently standing in a strong position and is expected to boost its earnings through its newly launched products. Mr. Advertisement: read more