Business News

An independent expert has provided positive valuation to the $3 billion worth of Kerry Stokes plan to merge WesTrac and Seven Network (SEV) while the major institutional investors have made it very clear that they are going to conduct their separate research before making up their mind regarding it. It is to be mentioned that Mr.

Sunland Group (SDG), a company that is involved in the business of property development and construction with concentrations on Sydney, Victoria, Gold coast, northern NSW, Brisbane and Dubai has boosted its yearly profit expectations by as much as 15 to 20 percent due to the house and land settlements that came earlier than expected. The company is currently expecting to post a $17 to $18 million worth of profit at June 30th.

ANZ owned E*Trade Australia is set to start a price war with online stockbroker CommSec on fees and commissions regarding international trades. E*Trade is planning to open up retail trader and investor access to several overseas stockmarkets from New York to Singapore. The company's profit in the year to September 2009 after tax was $31 million.

NuCoal (NCR), an emerging coal miner is currently moving forward with its plan to establish a training facility for the underground miners in an attempt to deal with the shortage of skills. According to Glen Lewis, the managing director of the company, his generation which has formed the 70 percent of the sector may leave the industry within next 10 years but will take the valuable experience along with it. Mr.

One of the leading telecommunications and internet services provider of Australia iiNet (IIN), is planning to move forward with a plan to boost the customer base to million before the national broadband network is completed by the federal Government. iiNet suspended its shares before making an announcement early Thursday regarding its decision to buy its Victoria based competitor Netspace for as much as $75 million.

The rivals of Telstra (TLS), are now stepping up their campaign on the independent senator of Victoria Steve Fielding in an attempt to convince him to change his stance regarding the Telstra bill. They are looking forward to see Mr. Fielding backing the bill before the senate. Chief executives of Macquarie Telecom, TransAct, Optus and Primus have communicated with the Senator and claimed that the legislation have revealed the fact that Telstra is currently posing threat to the industry.

Billabong International (BBG) the company that concentrates in the skate, snow and surf apparel and accessories manufacturing and distributing has come into the spotlight once again after CV Bali Balance (CVBB) dragged the surfwear retailer in a Bali court for around $168 million worth of damages which allegedly was caused from Billabong following the cancellation of a distribution license during the year 2005 by the Gold Coast company.

Australia based Transpacific Industries Group (TPI), a company that focuses on the waste management business may face a shareholder class action that litigation funder IMF (Australia) and Maurice Blackburn is considering to bring against the company as they believe it didn’t disclose information regarding its forecasts and earnings to the investors at a timely manner during the year 2008 which caused significant loss to the investors when the TPI shares went down in

The leading exporter of coking coal- BHP Billiton (BHP) have signed a deal with Japanese company JFE Holdings, which is the second largest mill of that country on Friday according to which the Australia based miner will supply it an unknown amount of ingredients for steel production for which JFE Holdings will be paying close to the asking price of BHP Billiton which was $US200 per tonne.

One of the largest financial institutions of Australia, Macquarie Group (MQG) is planning to close down its management trust that worth $10 billion and direct the investors into a deposit account which is market focused. Macquarie held the Government deposit guarantee as the reason due to which funds drained out from the trust.