Arrium administrators seek more funding
Troubled steel and mining group Arrium's administrators are negotiating with its lenders to secure funding of about $200 million to ensure the company is able to continue its normal business operations.Administrator KordaMentha said the company currently has a strong cash position, but it is looking to secure funds for ongoing requirements."So far, we have been able to manage cash flows within the requirements, but there may come a point where we need to manage trading in respect to some critic..>> view originalFinal Dick Smith stores to close in May
We put UberEats delivery to the test
UberEats is upon us. Pictured is a selection from VeggieBar’s delivery menu.AFTER much fanfare, UberEats has arrived in Australia.Billed as a way for foodies to upgrade their office lunches, skip the weekend brunch queue and host dinner parties catered by celebrities chefs, the new service kicked off this morning in Melbourne.Naturally, we decided to put it to the test when the starter’s gun went off at 11am, placing an order for a serving of Moroccan Stew and rice balls from Fitzroy’s VeggieBar..>> view originalAustralian dollar at 10-month highs as oil shock retreats
The Australian dollar is also taking heart from another jump in the iron ore price. The Australian dollar was trading around 10-month highs on Tuesday, as commodity currencies recovered sharply from Sunday's failure by oil exporters to agree to production caps.In late local trade, the dollar was fetching US77.91¢, a level not seen since June last year. The new highs come less than 48 hours after the local unit slumped to US75.93¢ following Sunday's meeting of ..>> view originalPetrol price investigation shifts to Qld
Best Three: the rich get richer as the poor get poorer2:01Oil prices are plunging but not at Australian petrol pumps, how much will Bunnings benefit from Masters' demise, and Oxfam have released an unbelievable statistic on the world's wealth inequality. Here are Chris Kohler's Best Three. THE high price of petrol in Cairns will come under the spotlight in a formal investigation by the Australian Competition and Consumer Commission.The watchdog today announced the Far North Queensland city will..>> view originalASX on the up as commodities firm
The ASX200 rose above the 5200 mark on Tuesday thanks to resources stocks. Photo: Brendon Thorne Resilient commodity prices sparked a renewed surge of buying in resources stocks, helping push the ASX 200 briefly above 5200 points while driving the Australian dollar to US78¢.On Monday night, oil prices showed encouraging strength following the failure of the Qatar talks among producers coupled, while iron ore jumped back over $US60 per tonne.The energy and mi..>> view originalCommonwealth Bank of Australia latest to tighten mortgages to foreigners
CBA accounts for one in every four mortgages in the country. Photo: Erin Jonasson Commonwealth Bank of Australia, the country's largest mortgage lender, has tightened criteria for home loans to foreigners just as the central bank warned buying by Chinese posed an "indirect risk".CBA, which accounts for one in every four mortgages in the country, will no longer approve applications that cite self-employed foreign income, it said in a note to mortgage brokers d..>> view originalRio Tinto production hit by Cyclone Stan, but up over the year
Rio Tinto production hit by Cyclone Stan, but up over the year Updated April 19, 2016 10:52:34 Rio Tinto's March quarter iron ore production dropped 12 per cent from its strong December quarter result, as the effects of January's Cyclone Stan in the Pilbara and seasonal restocking took their toll.However, shipments were still up 11 per cent over the year, representing increased productivity from big infrastructure investments in Rio's existing mines and ports.Global iro..>> view originalMcGrath doubles up on share selloff
Cattle giant S Kidman & Co sold to Chinese interests led by Shanghai Pengxin Group
Some of S Kidman & Co's cattle stations are within the Woomera weapons testing range. Photo: Andrew Meares A Chinese-led group agreed to buy Australia's most iconic cattle company in a deal valued at more than $300 million after partnering with local investors.The venture, headed by a company controlled by Shanghai Pengxin Group, will purchase 80 per cent of S. Kidman & Co., according to a statement Tuesday to the Shenzhen Stock Exchange. Australian Rural Ca..>> view original
Tuesday, April 19, 2016
Arrium administrators seek more funding and other top stories.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment