THE stock market was stronger at noon, on the back of strong gains in the US and another fall in the price of crude oil.
Archive for October, 2007
RIO Tinto says its acquisition of global aluminium manufacturer Alcan is succesful, after receiving acceptances for 79.41 per cent of the target’s shares.
VIRGIN Blue says its outlook is positive for the current financial year after nearly doubling its annual net profit in 2006/07.
THE big broking houses agree that Woolworths is a champion performer, but their opinions differ markedly on whether Australia’s biggest retailer can keep beating already high expectations.
MACQUARIE Airports (MAp) is poised to make large acquisitions and could be targeting listed airports in Switzerland and Mexico, according to broker Merrill Lynch.
TOYOTA has announced plans overnight to build its first new domestic car assembly plant in Japan in more than a decade to boost efficiency amid fast-growing sales.
AMERICA’S biggest mortgage lender, Countrywide Financial, sought to throw a lifeline to tens of thousands of stretched borrowers overnight as home foreclosures spike across the country.
THE US economy still faces pressure from a drawn-out housing-market slowdown but will “probably not” slip into recession as a result, former US Federal Reserve Chairman Alan Greenspan said overnight.
BANKS have no justification for raising interest rates because of the US sub-prime mortgage crisis, Treasurer Peter Costello says.
AUSTRALIA’S biggest retailer yesterday confirmed that the economy is running red-hot by turning in another record sales result.
