Financial Services

It's the recession we will have - PM; Miners seek direct line to Barnett; Rudd to lobby for Beijing; Qantas chief to slash jobs in executive shake-up; AIG anger to hit credit plan

Western Areas chairman Terry Streeter has sold more than 2 million shares in the nickel miner, generating proceeds of over $7 million.

West Perth-based Otto Energy plans to raise $35 million with the majority underwritten by Euroz Securities and funds to be applied to the repayment of shareholder and director loans.

Paladin Energy has agreed to invest some $500,000 into junior explorer NGM Resources, which it says will kick-start its previous work on its Niger uranium projects.

The chairman of embattled nickel miner Albidon has warned the company may have to call in administrators on Monday if approval for a much needed funding deal does not come through.

Business confidence in Western Australia has dropped to a record low with almost 75 per cent of firms believing economic conditions will deteriorate further in the next year, a new survey by the Chamber of Commerce and Industry WA has found.

Carnegie Corporation has received approval from the Victorian government to develop three pilot wave energy projects on the state's coast.

Premier Colin Barnett says he is prepared to commit up to $678 million towards the $4 billion Oakajee port and rail development if the federal government does not provide funding from its Infrastructure Australia fund.

Shares in Mirabela Nickel have climbed higher after the company announced it has completed a $140 million capital raising in Canada with funds to be applied to its Brazil project and repayment of debt.

Budget cuts not possible - Buswell; Premier to sign-off on port plans for WA; IMF warns slowdown to worsen; BHP nets $4.8bn in US bond market; Telstra blocking rivals - ACCC

The Terry Streeter-backed Fox Resources has launched a $6 million all-scrip takeover of junior explorer Hannans Reward to increase its spread of iron ore and nickel assets in Western Australia.

The state government is expected to formally approve the $3.5 billion Oakajee port and rail project that is vital to mining developments in the Mid West region.

Junior iron ore producer Atlas Iron has signed the last of its available iron ore into a long-term offtake agreement with an unidentified Chinese steel mill.

Mirabela Nickel has cleared one hurdle in its bid to raise some much needed funds, with a planned $182 million capital raising receiving shareholder approval today.

Shares in Aurox Resources have jumped as much as 56 per cent today as the company amends its convertible notes terms for an early cash injection of up to $47 million and modifies its port agreement.

Marylyn New takes an unconventional approach to decision making, but it works.

BRIEFCASE notes that many oil and gas stocks, such as Pan Pacific, Carnarvon Petroleum, Cooper Energy and AED Oil, show little if any market value for their ongoing operating cash flow from production activities, while some trade at or below their cash as

CAN a place that bans chewing gum and has been ruled by one party for decades offer Western Australia opportunities to develop our state and improve our government? Premier Colin Barnett certainly believes this may be possible and has let loose one of his

THE Perth director of global engineering company Connell Wagner hopes its merger with two South African companies will boost the chances of winning work on major projects.

Colin Barnett has a fight on his hands if he wants tax distribution restructured.

IN keeping with a five-year tradition, Monadelphous managing director Robert Velletri has exercised options at a hefty discount to the company's trading price.

SUBIACO-BASED Graynic Metals is looking to Latin America to help establish itself as a developing nickel explorer and developer.

SMALL to medium-sized enterprises are frustrated that interest rates for business loans remain higher than loans in the residential sector.

AFTER a busy two years building a substantial research team and getting through a series of early trials, the start-up biotechnology business founded by Nobel Laureate Barry Marshall, Ondek, is seeking around $10 million to fund the next phase of its deve

The state's Court of Appeal has overturned a Supreme Court ruling that two years ago found against Jubilee Mines and awarded $1.86 million to former managing director Kim Riley.

The Rudd government will introduce new laws to curb excessive termination payments for executives, amid community concern about high "golden handshakes" given to departing company heads.

Credit squeeze – WA seeks federal help to raise $1.3bn; Rio slashed $277m off value of Kwinana HIsmelt project; Euroz client was unaware of Opes danger, court told; Mortgage freeze for the jobless; Axa in $660m capital raising

Azure Minerals has raised just over $1 million through a renounceable rights issue with shareholders subscribing to around one-third of shares on offer.

Iluka Resources has bought the mineral sands interests in the Eucla Basin from joint venture partner Mithril Resources for $550,000.

Three Western Australian resource companies are today on the hunt for capital with trading of shares in both Otto Energy and Eleckra Mines halted and Berkeley Resources unveiling plans to raise $10 million.

The Perth director of global engineering company Connell Wagner hopes its merger with two South African companies will boost the chances of winning work on major projects.

Subiaco-based Western Metals plans to change its name to Indago Resources as it streamlines its minerals focus towards gold.