Business

Wednesday, May 22nd, 2013

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Rinehart still the richest

WA mining magnate still tops BRW's rich list despite losing $7 billion in the past year.

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Tinkler's funds in focus

Nathan Tinkler's assets could be frozen after liquidators applied for a court injunction.

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Myer lifts sales slightly

Myer's quarterly sales grow 0.5pc on pcp, but retailer remains cautious going forward.

Consumer sentiment turns bearish

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GSK to axe 120 jobs

Pharmaceutical giant to axe 120 jobs as it closes tablet packaging business in Melbourne.

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Spud shake-up afoot

Growers to fund research and marketing campaign to add value to the humble potato.

Dairy farmers bearish

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King guilty over loan

Bankrupt property dealer Michael King was convicted of fraud yesterday.

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Coalition flags ATO shake-up

Joe Hockey says tax office may be split in bid to make the tax system fairer. 01:05 pm

Iluka higher on upbeat AGM talk

MD David Robb gives shareholders an upbeat address at mineral sands miner's AGM. 12:06 pm

Wyllie sells down Amcom holding

Wyllie Group nets $16.1m from sale of half its holding in Perth fibre company. 11:16 am

Related:: Seven West falls on KKR exit

iiNet sells TransACT for $9m

Perth-based ISP sells fibre-to-the-premises business in the ACT to NBN Co. 01:44 pm

ASX falls into red on weak sentiment

Negative consumer sentiment index sends market into bearish territory mid-session. 11:10 am

WA Business

iiNet sells TransACT for $9m

Internet service provider iiNet says it has sold its TransACT's fibre-to-the-premises business in the ACT to NBN Co for $9 million in cash with trailing… 49 minutes ago

Rinehart still tops rich list despite $7b loss 1 hour, 22 minutes ago
Iluka higher on upbeat AGM talk May 22, 2013, 12:06 pm
Manji hotelier hits back at critics May 22, 2013, 11:52 am
Wyllie sells down Amcom holding May 22, 2013, 11:16 am

National

Market closes in negative territory

The Australian sharemarket remained on the back foot with the major banks extending their correction after the tight Federal budget triggered a 7 per cent… 21 minutes ago

Stocks to watch at close on Wednesday 8 minutes ago
Aust shares close lower 11 minutes ago
Rinehart loses $7 bn but still Australia's richest 27 minutes ago
iiNet sells TransACT for $9m 49 minutes ago

World

Nationwide profits jump 56 percent

LONDON (Reuters) - Nationwide, Britain's biggest customer-owned financial services group, said its financial position remained robust after posting a 56… 10 minutes ago

Rinehart loses $7 bn but still Australia's richest 27 minutes ago
U.S. prosecutors consider using racketeering law against SAC - source May 22, 2013, 12:14 pm
Japan posts worst April trade deficit May 22, 2013, 10:26 am
Japan exports disappoint, full benefits of weak yen yet to show May 22, 2013, 8:53 am

Technology

iiNet sells TransACT for $9m

Internet service provider iiNet says it has sold its TransACT's fibre-to-the-premises business in the ACT to NBN Co for $9 million in cash with trailing… 49 minutes ago