SANTIAGO (AFP) – The world’s largest copper producer reported Friday a more than 40 percent drop in earnings in 2008 due to rising costs, declining production and a sharp fall in the metal’s price from record highs.
February 28, 2009
US economy suffers sharp nosedive
The United States economy has suffered a sharp nosedive, shrinking much more than previously estimated.
US firm set to buy Waterford Wedgwood
Administrators for collapsed china and glassware maker Waterford Wedgwood said an American private equity firm has agreed on a deal to buy the company.
Abbott calls for regulation change over executive pays
The Federal Opposition is calling for the Government to change regulations to give shareholders more control over executive salaries.
GE slashes dividend to save 9 bln dlrs
NEW YORK (AFP) – US conglomerate General Electric said Friday it was drastically cutting its dividend paid to shareholders in a move aimed at saving nine billion dollars a years due to the intensifying economic slump.
Oz Minerals posts $2.5bn loss
TAKEOVER target OZ Minerals has been granted a four-week extension to refinance its debt and says it is very close to finalising two asset sales to foreign entities, after reporting a hefty full year loss.
Harvey Norman profit down 56pc
ELECTRONICS and furniture retailer Harvey Norman Holdings has reported a 56.8 per cent fall in first half profit and says trading conditions remain challenging.
Crown posts loss, Aussie revenue ’solid’
CROWN has reported a first half loss due to writedowns and says revenue growth at its Australian owned casinos continues to be solid.
QBE profit tanks on investment losses
QBE Insurance Group reported a 3 per cent fall in full-year profit as the value of shares in which the country’s biggest insurance company was invested declined in value because of the financial crisis.
OZ gets debt extension, $2.5bn loss
OZ MINERALS has received a four week extension to refinance its debt, after delivering a $2.5 billion annual loss.