http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/financenews/company/australia.html Yahoo!Xtra Business News - Company News Australia en-au Copyright (c) 2009 Yahoo! Inc. All rights reserved. Wed, 25 Nov 2009 04:55:29 GMT http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/091125/16/fvhb.html MELBOURNE, Nov 25 (Reuters) - Australian stocks turned positive on Wednesday after a short dip, climbing 0.4 percent after encouraging comments about the strength of the Australian economy from a top central banker. /091125/16/fvhb.html Wed, 25 Nov 2009 03:06:07 GMT http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/091125/24/fvdz.html Research and Markets (http://www.researchandmarkets.com/research/1ae19c/4q09_south_korea_m) has announced the addition of IE Market Research Corp.'s new report "4Q09 South Korea Mobile Operator Forecast, 2009 - 2013" to their offering. Mobile Operator Forecast on South Korea provides over 50 operational and financial metrics for the South Korean wireless market and is one of the best forecasts in the industry. /091125/24/fvdz.html Wed, 25 Nov 2009 01:00:00 GMT http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/091124/16/fvam.html DIARIES & DATA: IPO diary & data AU/IPOMENU Asia earnings diary [ASIA/EQTY] U.S. earnings diary [RESF/US] European diary [WEU/EQTY] Australia diary [AU/DIARY] Wall Street Week Ahead [.N/O] Eurostocks Week Ahead [.EU/O] .... For latest top breaking news across all markets [NEWS] .... TOP NEWS SUMMARIES ON OTHER SUBJECTS U.S. Companies [TOP/EQU] European Companies [TOP/EQE] Forex [TOP/FRX] Global Economy [TOP/MACRO] Tech.Media,Telecoms[TOP/TMT] Banking, Financials [TOP/FIN] Politics & General [TOP/G] Sports [TOP/SPO] .... 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UP-TO-THE-MINUTE HEADLINES Company results [RES] Economic indicators [ECI] Mergers & acquisitions [MRG] Interest rates [INT] LIVE PRICES & DATA World Stocks 0#.INDEX Currency rates EFX=NFX= Dow Jones/NASDAQ .DJI.IXIC Nikkei .N225 FTSE 100 .FTSE Debt 0#USBMK=EURIBOR HOW TO FIND INFORMATION YOU NEED REUTERS NEWS PHONE/HELP EQUITY BONDS MONEY COMMODITY ENERGY LIVE PRICES & DATA: World Stocks 0#.INDEX Currency rates EFX= NFX= Dow Jones/NASDAQ .DJI .IXIC Nikkei .N225 FTSE 100 .FTSE Debt 0#USBMK= EURIBOR Australian dollar AUD= LME price overview RING= ((Sydney Newsroom +61-2 9373 1800; sydney.newsroom@reuters.com)) /091124/16/fvam.html Tue, 24 Nov 2009 23:18:30 GMT http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/091121/22/ft8t.html Manila, Nov 21, 2009 - (ACN Newswire ) - Five companies from India, Pakistan, Philippines and Singapore were recognized for their outstanding initiatives in corporate social responsibility during the Asian CSR Awards, which is a part of the 8th Asian Forum on Corporate Social Responsibility(AFCSR) in Manila. Mr. Manny V. /091121/22/ft8t.html Sat, 21 Nov 2009 10:04:00 GMT http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/091119/21/fseh.html Brambles has changed CEOs and other senior managers and now the market is changing Brambles' outlook to one not so rosy. The company told yesterday's AGM in Melbourne that group sales for the four months ended October 31 were $1.4 billion, down 3% from the previous corresponding period Brambles new Chief Executive Officer Tom Gorman told the AGM: "I believe strongly in our businesses. We have outstanding market positions, financial strength and growth potential. "Although short-term trading conditions remain somewhat subdued in our largest markets, we are very well-placed to benefit from global economic recovery." "Making comparisons with the prior corresponding period was challenging as most of the prior corresponding period occurred before the escalation of the Global Financial Crisis. "In line with the broader economic trend, Brambles experienced business conditions in the four months to 31 October 2009 similar to those of the second half of the 2009 financial year." The company said in a trading update that it is expecting a similar performance, especially from the US operations of CHEP where pallet issues will fall 3% for the 2010 financial year. In the trading update the company said: "CHEP's revenue for the period was down 3 per cent on the prior corresponding period to US$1,154 million, primarily reflecting CHEP Americas' revenue decline of 5 per cent to US$513 million. "The decline in CHEP Americas' revenue was due to CHEP USA, which had lower organic volumes as a result of prevailing economic conditions and had been unable to generate sufficient new business to offset fully the impact of customer losses. "CHEP USA now anticipates total pallet issues for the 2010 financial year will be approximately 3 per cent lower than the 2009 financial year." Brambles said the slowdown at CHEP USA had resulted in the short-term accumulation of around four million additional idle pallets during the 2009 calendar year, which will result in associated short-term storage and handling costs. "CHEP USA considers that these pallets are required to meet future customer growth requirements and does not plan to alter its previously announced program to scrap 7 million excess pallets." The build up of unwanted pallets and the extra costs comes as Brambles restructures CHEP USA to cut costs and improve service to customers. "This program involves a fast-track investment spread across the 2010, 2011 and 2012 financial years," the company said. Brambles said that in other parts of its business in the four-months to 31 October 2009: "CHEP EMEA's revenue was down 1 per cent to US$515 million, primarily reflecting ongoing weakness in the automotive sector. Excluding automotive, CHEP EMEA's revenue was up 1 per cent. "CHEP Asia-Pacific's revenue was up 2 per cent to US$126 million as the growth of the reusable plastic crate business in Australia, and pallet volume growth in China, offset ongoing weakness in the automotive sector. "Excluding automotive, CHEP Asia- Pacific's revenue was up 4 per cent. "Recall's revenue was down 3 per cent to US$248 million, reflecting the impact on the Secure Destruction Services (SDS) business of lower activity in the USA and Europe and lower paper prices. "Excluding SDS, Recall's revenue was up 2 per cent as its Document Management Solutions business continued to grow. "Brambles' cash-flow and balance sheet positions are robust and the Company continues to manage both capital expenditure and working capital tightly. Brambles' liquidity position is strong, with significant unused funding facilities and no requirement to refinance any borrowings until the 2011 financial year." The trading update made no mention of any profit guidance or any estimate on what the recent rise in the value of the Australian dollar against the greenback, might do to revenues and earnings at December 31, or for full year. Brambles shares rose on the news, finishing up 3 cents at $6.75.   /091119/21/fseh.html Thu, 19 Nov 2009 21:05:00 GMT http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/091117/20/fqdw.html /091117/20/fqdw.html Tue, 17 Nov 2009 10:07:04 GMT http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/091117/16/fq7n.html SYDNEY, Nov 17 (Reuters) - Australian stocks fell 0.5 percent on Tuesday, dragged down by banking shares, while takeover target AXA Asia Pacific Holdings Ltd AXA.AX slipped on doubts that a higher offer for the company would emerge. /091117/16/fq7n.html Tue, 17 Nov 2009 06:08:10 GMT http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/091115/21/fp57.html Qantas has had another escape from a lunacy contemplated by the airline's board, this one only a year ago. It came 18 months after the May, 2007 attempt by private equity to snatch control of the airline. That failed at the last minute as a group of private equity investors, led by TPG (who is now being chased by the Tax Department over some of its Myer float profits), Macquarie, an enthusiastic management and board, with former CEO, Geoff Dixon, out in front, lost out to shareholders, and one big hedge fund that messed up its acceptance. A year ago there merger talks were resurrected with British Airways, again driven by the old management of Mr Dixon, with the support of some board members. That BA, which was the cornerstone investor when Qantas floated back in 1995, was also talking to Spain's Iberia, about a possible merger at the same time, was dismissed by the Qantas merger cheer squad. But suddenly it became too hard as investors (and the Federal Government), Iberia and BA went cold on the idea which then collapsed last December, when Alan Joyce replaced Geoff Dixon as CEO of Qantas. Then the world airline market flopped into recession, dragged down by the crunch and the global slowdown. Qantas' profits plunged, at BA and Iberia, profits became heavy losses. But one crucial difference has remained through all of this: Qantas retained an investment credit rating, along with one other airline around the world (Southwestern in the US). Now financially weak BA and Iberia are to merge, subject to quite a few important conditions. In fact It's a 4.4 billion pound all share merger that will create an unrated sluggish giant with no financial strength and lots of cost headaches. Neither airline can afford cash. Qantas shares closed at $2.74 on Friday (down 8% in about two weeks). At that price, Qantas is worth around $6.2 billion, or around 80% of the value of the BA-Iberia bid. It is valued more than either BA or Iberia. The first problem for BA and Iberia is that the deal is overly complicated to try and get around the basic rule of the international airline business. That is airlines' landing rights are awarded to airlines and countries, not to just anyone. That's why airlines can't be taken over by foreign-owned carriers (there is a blanket ban on foreign ownership in the US) because to do so would place all the routes at risk outside the countries. Those rights are awarded by Governments to the various airlines, not the acquiring airlines which might control landing rights of their own. IF BA was owned by Iberia, it could loose its landing rights in the US, Australia and in many other countries. Iberia could lose as well if it was owned by BA. But BA brings the better routes to the deal, and those had to be protected, as do Iberia, to get the deal approved in Spain. It was one of the reasons why the BA talks with Qantas foundered. So BA and Iberia will continue to be separate airlines, with a third company (called "TopCo" in the merger documents) sitting on top as a holding group, 55% owned by BA shareholders and the rest by Iberia's holders. There will be three boards, each of which will be divided equally between representatives of the two airlines. In the all-share deal , BA shareholders will get one share in the combined company for every existing share they hold in BA, and Iberia investors will get 1.0205 shares in the enlarged company for every Iberia share they hold. The unnamed merged company will be led by Willie Walsh of BA; the chairman of Iberia, Antonio Vazquez, will become chairman of the enlarged company and the airline will be registered in Madrid, with its main offices in London.  Both airlines are heavily unionised and yet the main UK union has threatened industrial action if there are forced redundancies; and yet the biggest part of the 400 million euros of savings will come from lowering the wage and other labour costs. There is a pay disparity: BA cabin crew get around 29 thousand pounds a year, Iberia's are paid more, around $US44 thousand. BA lost 292 million pounds in the six months to September, Iberia lost 182 million euros in the nine months to September. Both losses were wracked up despite the normally profitable summer holiday period. Then there's BA's huge pension deficit. It could cause the entire merger to be aborted. BA plans to keep the liability for its pension deficit in the BA operating company that would sit as a subsidiary below the merged top company. The idea is that this would mean Iberia shareholders would not have any responsibility for the deficit, whose size is uncertain. London reports suggest it could 3 billion pounds, more 500 million pounds more than BA's stockmarket value. Iberia had inserted in the agreement a clause that allows it to call the whole deal off it is not happy with the way the pension deficit will be treated (so as avoid Iberia paying for any of the cost). Michael O'Leary, CEO of Ryanair (and the most aggressive airline chief in the business) dismissed the merger with this quote in the London Telegraph newspaper.  "I would characterise it as two drunks holding each other up on the way home," he said. "All you get when you put two high-fare, loss-making airlines together is even higher fares and even bigger losses." And yet London reports say BA also is eying a tie up with American Airlines, its long time US alliance partner. American (and its parent, AMR), are eying some sort of deal to takeover the near bankrupt Japan Airlines, which needs billions of dollars in fresh loans from the Japanese Government. Japan Airlines says it is planning to spend interest payments on its debt until the new loans can be arranged. Qantas, by doing nothing, will end up as a world class major airline simply by keeping itself out of the clutches of the desperate and dateless.   /091115/21/fp57.html Sun, 15 Nov 2009 21:33:00 GMT http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/091115/22/fp8q.html Manila, Nov 16, 2009 - (ACN Newswire ) - The Asian Institute of Management announced yesterday that the Asian Forum on Corporate Social Responsibility on November 19 and 20 at the Crowne Plaza Hotel is fully subscribed. Of particular note is that delegates are coming from 23 countries. 473are confirmed and registrations will be closed today. /091115/22/fp8q.html Sun, 15 Nov 2009 20:28:00 GMT http://au.rd.yahoo.com/rss/default/*http://nz.biz.yahoo.com/091113/22/fo3e.html Moscow, Nov 13, 2009 - (ACN Newswire ) - Below is the commentary today by Artem Volynets, Director of Corporate Strategy of UC RUSAL, the world's largest producer of aluminium and alumina, on the Chinese market: "UC RUSAL is actually an Asian company. 80% of UC RUSAL's aluminium production facilities are located in Asia, the key smelters are just 500 km from the Chinese border, much closer to Beijing that to Moscow or London. /091113/22/fo3e.html Fri, 13 Nov 2009 08:04:00 GMT