Companies

  • QGC in $890m bid for coal-seam rival

    Queensland Gas Company has launched an $890 million takeover bid for fellow coal-seam gas player Sunshine Gas, in a move that has implications for the sector and for the $13.8 billion battle for Origin Energy.

  • MAp sells assets to fund buyback

    Macquarie Airports has sold stakes in two key assets, the Copenhagen and Brussels airports, to fund a $1 billion share buyback in a move that it hopes will improve its market value and repair sentiment towards wounded infrastructure stocks.

  • Decisive fix-it strategy an answer to animosity

    By taking swift action against stubborn equity markets, Macquarie Airports has set a precedent for ailing infrastructure companies.

  • Coalminer's big gain 'a taste of things to come'

    NSW coal producer Centennial Coal is set for a big rise in profit this financial year as it forges ahead with plans to lift export volumes, a move that would help it extract higher prices from domestic customers.

  • Low prices force miner to cut staff

    Base metal miner Perilya will significantly downsize its Broken Hill operations in NSW and wind back its $60 million hedge book as it seeks to extricate itself from a quagmire of low metal prices and a collapsed share price.

  • Indophil board backs revised bid

    The board of Indophil Resources has endorsed a revised takeover bid from chief executive Richard Laufmann and a consortium of backers from Asia and the Middle East, defeating a rival offer from Xstrata.

  • Briefs

    SKILLED GROUPSkilled Group said an uncertain economic outlook was a potential risk to earnings this year

  • James Hardie vows fast call on US move

    Building materials group James Hardie Industries says it will decide whether to shift its domicile to the United States within a year after tax disputes with Australian and US authorities forced it to speed up a review of its tax liabilities.

  • There's life in the business model

    Coca-Cola Amatil has put to bed any lingering doubts about the strength of its business model after yesterday's strong interim profit.

  • Las Vegas puts drag on Crown

    Crown Ltd expects profit growth from its two casinos in Australia to shrink to about 5 per cent in financial 2009 and has reversed its policy on taking minority stakes in US casino groups after some painful write-downs totalling $258 million.

  • Wal-Mart fears weigh on pallets

    Brambles chief executive Mike Ihlein said investor concerns about the impact on its pallets business from Wal-Mart's decision to review warehouse distribution systems had been overdone, but conceded talks with the retailer were taking longer than expected.

  • Briefs

    KAGARA

  • Briefs

    Sims upgrades forecasts

  • Ausdrill talks tough as rival fires up bid

    Contractor Macmahon Holdings has turned up the pressure on rival mining services group Ausdrill, increasing its hostile scrip bid by 14 per cent while at the same time handing down a strong annual result.

  • Strong sales help deliver, trim debt

    Managing director Michael Fraser believes AGL Energy is in a better position to participate in the privatisation of NSW's energy assets after what he said were improvements to the company's balance sheet and operating base.

  • Ausenco on track to double its earnings

    Mining services group Ausenco remains in a position to almost double earnings this year after a strong first half, as it shifts focus to coal and iron ore projects and boosts its South American presence.

  • Fairfax sells its holdings in Carnival

    Fairfax Media has sold its stake in the British film and television production company Carnival to US media group NBC Universal for £22.5 million ($48.3 million).

  • Mozarella you? Eh! Things are not so bad

    Australia's biggest pizza retailer is pinning its hopes on consumers opting for cheaper, fast food alternatives in the face of rising living costs to drive profit growth in the 2009 financial year.

  • Basic needs won't wear thin

    Sue Morphet, the chief executive of underwear and footwear group Pacific Brands, has warned it might take another 12 months before a sales recovery emerges because shoppers are curbing their spending in rough economic conditions.

  • Briefs

    Early activity at millAnthony Klok,

  • Highly acceptable result for discounter

    Discount retailer The Reject Shop expects new store openings and demand from value-conscious shoppers to fuel solid sales growth this year, after it defied the broader slump in consumer spending to book a healthy lift for its 2008 profit.

  • Chanticleer: Privateers circle troubled Centro

    The latest Securities and Exchange Commission filing by the US-based Centro NP entity indicates the extent of stress on the group as it restructures to provide its bankers with more comfort at the same time as a slowing US economy is eating into revenue.

RTC model

The US appears to be putting its houses - Fannie and Freddie - in order, writes Glenn Mumford.