Business

Friday, May 24th, 2013

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Ord sugar deal closer

State Govt on verge of announcing next step in deal that clears way for Chinese investment in Kimberley.

Farm group criticises aid criteria

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iiNet defends its valuation

CFO David Buckingham defends ISP's lofty valuation after shares in the company plunged yesterday.

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UN sees weak recovery

World economy should begin weak recovery this year but the United Nations says Japan faces 'risks'.

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Maccas faces it critics

McDonald's has again faced criticism that it is a purveyor of junk food that markets to children.

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Quotas 'breed resentment'

Rio Tinto's Joanne Farrell says positive discrimination could have negative consequences. 02:30 am

Ford exit fuels wider worries

Fears are mounting that the national economy is fracturing after car maker's decision. 05:48 am

Related:: 'We will help workers'; Govt defends support

Muja station hangs in balance

Energy Minister Mike Nahan warns Government may pull the plug on costly exercise. 06:15 am

Engineering firm axes 150 jobs

Golder Associates shed jobs in another sign of downturn affecting local resources industry. 07:31 am

Market extends yesterday's losses

Local bourse concedes further ground at open adding to yesterday's steep sell-off. 07:37 am

WA Business

OTOC jumps on Nauru contract

OTOC shares have soared against the weight of a downward market when it confirmed a $29 million deal to build housing for asylum seekers on Nauru. May 24, 2013, 7:32 am

Engineering firm axes 150 jobs May 24, 2013, 7:31 am
Farm group criticises aid criteria May 24, 2013, 7:30 am
Hedland crusher on scrapheap May 24, 2013, 7:28 am
iiNet defends its valuation May 24, 2013, 7:26 am

National

Packer wants second Sydney casino

James Packer says he's sold his stake in rival casino group Echo Entertainment to focus solely on plans for a second Sydney casino. 53 minutes ago

Aust shares open marginally weaker 46 minutes ago
Local production costs high: Holden boss 54 minutes ago
Aust shares open higher 1 hour, 21 minutes ago
Call for crisis talks on car manufacturing 1 hour, 29 minutes ago

World

Tesoro expected to take over BP Los Angeles refinery

HOUSTON (Reuters) - Independent refiner Tesoro Corp is expected to take control of BP Plc's 240,000 barrel-per-day (bpd) Los Angeles-area refinery in… May 24, 2013, 6:54 am

Royal Mail chief set for 500,000 sterling bonus - Sky News May 24, 2013, 6:44 am
Mass sell-off in Spain's Bankia hit small investors May 24, 2013, 6:25 am
Islamist bombers kill 20 in Niger attacks May 24, 2013, 6:09 am
Markets face rough summer ride as Fed pullback feared May 24, 2013, 5:41 am

Technology

Google, like Facebook, in talks to buy Waze for about $1 billion: report

(Reuters) - Google Inc is considering buying Israeli mobile satellite navigation start-up Waze Inc, which may lead to a bidding war with Facebook Inc,… 33 minutes ago