THE world’s sixth largest steelmaker, Tata Steel of India, has backed BHP Billiton’s proposed merger with Rio Tinto, saying it was time for the industry to consolidate.
Archive for November, 2007
TAKEOVER target Rio Tinto says it could be a top 10 producer of nickel as the company continues to spruik an independent future after an unsolicited approach from BHP Billiton.
THE International Monetary Fund (IMF) is likely to revise lower its 2008 estimate of world economic growth due to financial market turmoil and surging oil prices.
ONE of America’s biggest hedge funds, Citadel, has agreed to pump $US2.5 billion ($2.8 billion) into the troubled online brokerage ETrade to help shore up its ailing balance sheet, the firms announced.
BHP Billiton could well make a hostile bid for Rio Tinto if its $400 billion merger proposal fails to gain traction, analysts say.
AUSTRALIA’S largest steel manufacturer BlueScope Steel says it’s committed to its business in China, including its underperforming metallic coating business.
VILLAGE Roadshow, which turned around into the black last financial year, says momentum has continued into fiscal 2008 and that it’s eyeing theme park acquisitions.
STEEL manufacturer BlueScope Steel has flagged the potential sale of its underperforming metallic coating business in China and is reviewng the future of its Vietnamese operation.
THE share market continued to gain ground at noon, following a strong lead from Wall Street and renewed optimism among the local banks.
A JUDGE has ordered that cardboard manufacturing giant Visy be added to a $300 million class action against its rival Amcor.
