Following the news on the legal action to be taken against Gunns by the IMF, the Company's shares dropped by 8.9% closing at 40.5¢. This figure has been seen as the lowest since 2000.
IMF has alleged that the Company has failed to produce sufficient information on its performance in the first half of fiscal 2009.
Analysts have opined that the proposed restructuring in the Suncorp Metway Ltd. will have to cut jobs in order enhance annual savings $235 million.
Brisbane insurer Suncorp introduced five main projects, on Friday, aiming to establish a unilateral view on its insurance pricing.
A devastating fire which caught up in a zinc smelter north of Hobart in Lutana has brought with damage worth $3 million. The explosion occurred late night on Thursday.
Following the fire incident, the productions at Nyrstar's 265,000-tonnes-per-year Hobart zinc refinery have reportedly dipped by 20% given the $3 million loss in the fire.
Sigma Pharmaceuticals Ltd. is in talks with shareholders who are intending to buy nearly 60% shares worth $707 million, in the Company. Following the announcement, the Company's shares surged trading at 51.5 cents, against the 0.25%drop in the benchmark index.
The federal Government has been urged by the nation's biggest miner to scrap its proposed tax on resource super profits and substitute it with a tax on mineral value.
On the stage of Skytrax world airline awards, Virgin Blue has been named best low-cost airline in the Australia/Pacific region. It has claimed the title for the fourth time, and has surpassed Qantas offshoot Jetstar and Tiger, who bagged second and third positions respectively.