Industry News

NAB chief's credit alert
THE head of NAB has warned that the threat of a new credit squeeze is "increasingly real" and would impact on future interest rate cuts.
Troubled firm looks to wind up funds
BELEAGUERED fund manager Equititrust will seek court orders on Monday to wind up two of its funds and have a temporary group of managers appointed to oversee the process.
Uranium stocks get a new glow
THE Federal Government's move to lift a ban on uranium sales to India has ignited uranium stocks but share prices remain below levels before the Fukushima crisis.
Second chance for 400 adult apprentices
FOUR hundred adult apprentices will be given a second chance to complete a formal qualification and be employed in the construction of three Queensland LNG plants.
Tiger reports loss following grounding
BUDGET airline Tiger Airways has blamed the grounding of its fleet over safety concerns and high fuel prices for its nearly $50 million loss.
Gunns shares soar on deal with billionaire
GUNNS shares soared today after it announced a $280 million deal with New Zealand billionaire Richard Chandler.
BHP Billiton's profit down...to $9.3 billion
WORLD's biggest miner posts a first-half profit drop of 5.5 per cent as Europe's woes hit commodity prices.
Yahoo! chairman, directors step down
YAHOO! chairman Roy Bostock announced today he is stepping down from the board of the struggling internet company.
Ansell expects to recover lost ground
ANSELL has increased its first-half profit by 1.1 per cent and expects to recover lost ground in the second half.
Bush to get broadband access from space
TWO satellites costing a total of $620 million will deliver the NBN to just three per cent of Australia by 2015.
World's biggest merger in resources sector
MINING giant Xstrata agrees to union with Glencore to create a $US90b global entity.
Asahi beer finds new Australian home
ASAHI beer has found an Australian home with the brew to be distributed by the Japanese giant's subsidiary Independent Distillers.
Review after mixed fortune for NAB
NATIONAL Australia Bank is looking at an overhaul of its struggling UK business as bad-debt levels soar.
Thiess wins $1 billion mining contract
LEIGHTON Holdings' Thiess wins a $1 billion mining contract to extend the life of OZ Minerals' Prominent Hill copper and gold mine.
Cochlear shares soar despite $20m loss
COCHLEAR shares leapt today despite the company reporting a $20 million net loss for the half year to December 31.
Checks ordered for A380 superjumbo fleet (AAP)
The European Aviation Safety Agency says the entire fleet of 68 Airbus A380 superjumbo jets needs to be checked for cracks on parts of the wings.
Nasser warns about abandoning car industry (AAP)
Former Ford boss Jacques Nasser says Australia should support the car making industry as it goes through tough times.
Jetstar brings forward Japan launch date (AAP)
Jetstar says its new Jetstar Japan domestic airline will begin operations in July this year.
BHP profit falls for first time in 3 yrs (AAP)
BHP Billiton's $US9.941 billion first half profit is historically high, but analysts were expecting more.
Aust stocks end higher on IT, energy (AAP)
The Australian stock market has closed firmer as gains among information technology and energy stocks offset a weak day for the banks and BHP.
$A pushes above 108 US cents (AAP)
The Australian dollar rose above 108 US cents as markets continued to react to the RBA's decision not to cut interest rates
Australia a gold standard country: BHP (AAP)
Australia remains a gold standard country to invest in amid the unstable world economy and lack of credit availability, BHP boss Marius Kloppers says
Suncorp to send 65 more jobs offshore: FSU (AAP)
Suncorp is to send 65 jobs offshore in a new round of cuts, with two thirds of positions coming from Brisbane, the Finance Sector Union says.
Gunns strikes $280m share issue deal (AAP)
Gunns strikes deal which could reap up to $280 million through the issue new shares to New Zealand billionaire Richard Chandler and shares soar
Geelong 'faces devastation' if Alcoa goes (AAP)
Up to 600 jobs in Victoria could be at risk as Alcoa reviews viability of the Point Henry aluminium smelter in Geelong.
BHP confident of robust demand
BHP Billiton says it's confident long term commodities demand will remain robust, as first-half profit fell to $US9.94 billion.
Alcoa reviews Victorian smelter
ALCOA blamed pressures including the high Australian dollar for forcing it to put its Point Henry aluminium smelter under review.
Shares close with mild gains
AUSTRALIAN shares closed higher as investors hoped for progress in Greek debt talks.
Suncorp cuts 65 Australian jobs
SUNCORP is sending a further 65 jobs offshore, as the bank and insurance giant battles rising costs and subdued economic conditions.
Swan holds fire on banks
AFTER days of bank bashing, Wayne Swan has urged homeowners to "wait and see" whether lenders hike interest rates independently.
Australand profit falls 15pc
AUSTRALAND posted a 15 per cent profit fall, but its shares rose after it forecast higher earnings within a difficult environment.
Ansell reports 1pc H1 profit rise
ANSELL blamed its new IT system for a dip in sales as the company reported a 1.1 per cent rise in first-half net profit.
$280m raising is great Gunns
DEBT-LADEN Tasmania-based forest products company Gunns is set to nearly triple its current market value with a capital raising.
Rio keen to secure Husab JV
RIO Tinto is eager to secure a joint venture with the likely new owners of the huge Husab uranium deposit in Namibia.
Greeks protest as talks drag
THOUSANDS of Greeks protested against the threat of more spending cuts and tax increases, as talks continued over a new bailout.
Glencore and Xstrata seal merger but not all shareholders happy
Glencore International has agreed to buy Xstrata for $38 billion to create one of the world's largest resources companies.
Pike River explosion blamed on roof collapse
Pike River coal mine's deadly explosion has been blamed on a string events caused by a roof collapse.
FMG looks beyond iron ore in South Australia
Fortescue Metals Group is exploring South Australia for copper, gold, and uranium in an effort to diversify beyond its Pilbara iron ore business.
Rio Tinto annouces massive Pilbara expansions
Rio Tinto has announced a massive $3.1 billion expansion to its Pilbara iron ore operations.
BHP Billiton posts strong first half profit
BHP Billiton has posted a first half profit of $9.2 billion, one of the biggest in Australia's history but short of analyst's predictions and the record it set last year.
Margaret River coal mine vetoed
LD Operations proposed coal project in the Margaret River has been rejected by WA environment minister Bill Marmion.
Drill rig battle drags on
The fight over the GT3000 drill rig has heated up as Strange Investments seeks a court order to take possession of the rig.
Alcoa reviewing Point Henry smelter's future
Alcoa has announced a review into the future viability of its Point Henry aluminium smelter in Geelong.
Whitehaven Coal restarts mining
Whitehaven Coal has recommenced operations after heavy rains halted mining in the Gunnedah Basin.
Rio Tinto sees board changes
Rio Tinto has appointed John Varley as a senior independent director to its board.
Mining jobs boost labour market
Mining jobs in resources states have helped boost job advertisements on the internet and in newspapers to their highest level in almost two years.
Mystery buyer for FMG
Shares in Pilbara iron ore miner Fortescue Metals jumped yesterday amid speculation diversified commodity trader Noble Group had bought a stake in the company.
China bans Vale mega-ships
The Chinese Government has effectively banned Vale's $8 billion mega-ships from using its ports, citing safety concerns.
Glencore and Xstrata close to inking merger
The talks between Glencore and Xstrata over their proposed $88 billion merger have escalated, with Glencore expected to pay an eight per cent premium to seal the deal.
Xstrata's Ernest Henry mine forced to close
Heavy rains have forced the closure of Xstrata's Ernest Henry copper mine.
BHP Billiton posts rare fall in profit - ABC Online

Globe and Mail
BHP Billiton posts rare fall in profit
ABC Online
By business editor Peter Ryan and staff BHP Billiton has posted a drop in net profit for the first half of the financial year, the first time profits have fallen in three years. The world's...
Alcoa smelter jobs under threat - Abbott seeks to blame carbon tax - ABC Online

BigPond News
Alcoa smelter jobs under threat - Abbott seeks to blame carbon tax
ABC Online
Alcoa's smelter in Geelong is the latest manufacturer facing an uncertain future. Alcoa says the smelter is losing money and will review its viability and may stop...
Gunns in 'best position' to build pulp mill - ABC Online

NEWS.com.au
Gunns in 'best position' to build pulp mill
ABC Online
ELEANOR HALL: The head of the Gunns timber company is expressing confidence today that his company will finally get the finance it needs to build Australia's biggest pulp mill in ...
Homeowners' threat: We'll desert Big Four banks - Herald Sun

The Age
Homeowners' threat: We'll desert Big Four banks
Herald Sun
AUSTRALIANS have threatened to desert the Big Four banks en masse if interest rates increase. Outraged by the banks' decision to divorce themselves from official rate moves, more ...
EASA Extends Airbus A380 Wing Checks To Entire Fleet - Wall Street Journal

Daily Mail
EASA Extends Airbus A380 Wing Checks To Entire Fleet
Wall Street Journal
By David Pearson PARIS (Dow Jones)--European aviation safety authorities will issue a notice later Wednesday requiring all airlines operating the Airbus A380 superjumbo to ge...
GLOBAL MARKETS: European Stocks Up Cautiously; Focus On Greece - Wall Street Journal

USA TODAY
GLOBAL MARKETS: European Stocks Up Cautiously; Focus On Greece
Wall Street Journal
By Andrea Tryphonides Of DOW JONES NEWSWIRES LONDON (Dow Jones)--European stocks were cautiously higher Wednesday as investors hoped that Greek lawmakers were close ...
shares close with mild gains - The Australian

SBS
shares close with mild gains
The Australian
AUSTRALIAN shares closed higher today as investors hoped for progress in talks designed to head off a Greek debt default. The S&P/ASX 200 index closed up 0.4 per cent at 4290.70, bringing week-to-date gains...
Rio Tinto iron ore expansion continues - Sky News Australia

Proactive Investors UK
Rio Tinto iron ore expansion continues
Sky News Australia
Rio Tinto iron ore expansion continues Updated: 20:30, Wednesday February 8, 2012 Rio Tinto has again demonstrated its faith in Asia's growing demand for iron ore by committ...
CBA on notice after Qld govt pay glitch - Sky News Australia

The West Australian
CBA on notice after Qld govt pay glitch
Sky News Australia
CBA on notice after Qld govt pay glitch Updated: 18:13, Wednesday February 8, 2012 The Commonwealth Bank's payroll contract with the Queensland government will be reviewed if ...
Bed closures unprecedented, nurses say - Sydney Morning Herald

BigPond News
Bed closures unprecedented, nurses say
Sydney Morning Herald
More hospital beds are closing across more areas than ever before in Victoria under the Baillieu government, with hundreds to remain closed indefinitely, the nurses' union says. Af...