Financial Services

Agricultural and forestry fund manager, Great Southern Limited, has recorded lower than expected project sales revenue on the back of legislative uncertainty surrounding non-forestry managed investment schemes, driving its 2007 net profit down 29 per cent

West Perth-based Northern Iron Ltd has aims to raise up to $140 million in its initial public offer to fund acquisitions and exploration over its Sydvaranger Iron project in northern Norway.

Swiss mining group Xstrata plc has reduced the minimum acceptance level in its Jubilee Mines takeover offer from 90 per cent to 50 per cent, after struggling to win acceptances from Jubilee shareholders.

Rudd poised to end AWAs by February; Market expected to be positive after poll; Costello clocks off as Howard's flaws are exposed; Rio Tinto to launch own offensive on BHP bid; Spitfire closes $6m float subscriptions early.

In the last View from the Arch, Andrew Hobbs wraps up the campaign for John Howard and Kevin Rudd, and casts a brief glace statewards.

Subiaco-based oil and gas explorer Red Fork Energy Ltd has announced plans to raise $10 million through a placement to fast track production at its Oklahoma assets.

Fresh from its rejection of a takeover bid from Fairstar Resources Ltd, Osborne Park-based Golden West Resources Ltd has appointed former Portman Mining managing director Geoff Wedlock as chairman, following John Daniels' retirement.

West Perth-based Murchison Metals Ltd has confirmed its 375 million tonne estimate over the 15-year mine life of its Jack Hills iron ore project, saying in an announcement today that Midwest Corporation Ltd's statements about the project were incorrect.

It's official, Wesfarmers Ltd has become the Western Australia's most valuable company, the state's biggest employer and the nation's biggest retailer with today's implementation of a scheme of arrangement to take over the Coles Group Ltd.

Perth entrepreneur Dean Scook has been sentenced to three years in prison after being convicted in the District Court over a market deception scheme involving shares in a junior explorer in 1998.

Planning and Infrastructure Minister Alannah MacTiernan has responded to criticism of State government funding for local raods, saying state budget allocations have grown by an average of 16 per cent each year since 2004-05.

Perth-based BigHill Resources Ltd has today opened its initial public offer, seeking to raise $7 million to fund acquisitions and exploration of its Cookes Creek Tungsten project.

West Perth-based Heron Resources Ltd and Brazilian giant CVRD Inco have approved a budget of $13.8 million for the first half of the prefeasibility study into the Kalgoorlie nickel project.

Mount Pleasant-based Oz Brewing Ltd will acquire a 50.1 per cent stake in Greenwood-based shed builder Shedco and transportable buildings manufacturer Eco Transportables for $5.4 million.

West Perth-based oil and gas explorer Entek Energy Ltd has raised $2.7 million through a placement to replenish its cash resources, the company has announced.

The time is ripe to change leaders: nation's newspapers; Oz Brewing turns to sheds as ale fizzles; Kloppers calms Chinese merger fears; Howarth attacks State over North-West housing shortage; Commonwealth Bank to lift home rates regardless of poll result

The uranium asset spin-out of East Perth-based diamonds explorer North Australian Diamonds Ltd, Top End Uranium Ltd, has closed its initial public offer oversubscribed, the parent company has announced.

Subiaco-based debt collection agency Repcol Ltd has appointed company secretary George Wilson as its managing director ahead of Monday's general meeting, in which the company plans to sell its major assets.

Victoria-based Great Gold Mines NL will acquire Nedlands-based uranium explorer Ellendale Resources NL through a scrip issue, worth over $14 million, the companies have announced.

Nedlands-based LED pixel signage company Lumacom Ltd aims to raise $1.3 million through a non-renounceable entitlements issue of one share for every two held to fund the business and a review of potential acquisitions.

The trial date for the long-running dispute between West Perth-based intellectual property company ipernica Ltd and Sweden-based Ericsson Inc will commence on March 27, with the trial to be split in the WA company's favour.

West Perth-based minerals explorer India Resources Ltd has completed a placement, raising $2.2 million through the issue of 11 million shares at 20 cents each.

Ascot-based olive oil maker Olea Australis Ltd will sell its Dandaragan operations, with the exception of its branding, to subsidiaries of West Perth-based Great Southern Ltd for $18.7 million, the company has announced.

Chemicals tycoon attacks short-term mindset; Wheat not main game for AWB; Power prices spark fears for Alcoa plan; ANZ director defends consultancy payments to Visy whistleblower; Olea sells off olive assets in $18m deal.

Australia's largest residential land syndicator, Peet Ltd, is set to launch its first syndicate with land in three states, as part of a move to offer investors greater diversity.

The dispute over Western Power chief executive Doug Aberle's annual bonus has been resolved, following negotiations between the utility's chairman Peter Mansell and energy minister Francis Logan.

West Perth-based tin and base metals company Bellevue Resources Ltd will raise $3.5 million in its initial public offer, to be used for further acquisitions and exploration of its North Queensland project.

Wesfarmers Ltd has won a national award for its long-term financial support of the WA Institute of Medical Research.

South Perth-based agricultural investment company the ARK Fund Ltd will retire debt owed to the National Australia Bank through a $20.4 million placement, the company has announced.

Macmahon Holdings Ltd managing director Nick Bowen has realised $4.1 million through the sale of 2.2 million shares of his indirect interest in the company.

West Perth-based Metex Resources Ltd has raised $6 million to fund development of its subsidiary, underground coal gasification technology developer Carbon Energy Pty Ltd, the company has announced.

West Perth-based Eneabba Gas Ltd has extended its gas swap arrangements with Verve Energy for another 12 months, the company has announced.