The war of words between Sydney Airport chief executive Max
Moore-Wilton and Patrick Corp boss Chris Corrigan shows no sign of
letting up after the airport reported another solid lift in monthly
passenger numbers, reports Scott Rochfort in the Smage.
Moore-Wilton describes the Patrick boss’s comments last week that
Sydney Airport was “gouging the travelling public” as an “absolute
disgrace” and “completely dishonest.”
Speculation is growing that BHP Billiton will be forced to sweeten its
struggling $9.2 billion bid for rival miner WMC Resources, reports The Australian.
But some analysts believe BHP will hold tight as talk fades of a rival
bid from Rio Tinto and the resources sector, which was soaring at the
time BHP launched its offer, now in the grip of a pullback.
A new group has emerged to reclaim cartel overcharging of Australian business, reports the Fin Review.
The Cartel Compensation Group has been formed to win compensation for
victims and advise whether a company has been slugged by a secret
cartel. Also in the Fin, fund managers have called for broking analysts
to stop using short-term company earnings guidance to base their stock
recommendations, after many analysts failed to anticipate the recent
rush of profit warnings. And the AFR reports that Australian
business has demanded that the federal government overhaul key
processes for law making, following a comprehensive review that found
companies are battling a “regulatory blow-out.”
Melbourne-based property group, Becton, has announced details of its stock exchange listing, reports The Age.
It will merge with its subsidiary, Becton Developments Ltd (BDL) to
facilitate the capital raising worth as much as $65 million. And Philip Hopkins in The Age
reports that the Victorian grain market is now on a full drought
footing, according to leading analysts and consultants ProFarmer.
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Deposed media baron Conrad Black isn’t giving up, reports David Nason in The Oz. In the latest edition of Fortune
magazine, Black says he’s a “victim of corporate governance terrorists”
and claims that two years of SEC investigations has produced “mountains
of salacious headlines” but no finding of wrongdoing by regulators or
the courts. And he warns that his business comeback may be in a field
other than publishing. Newspapers, he says, are “not a growth industry.”