Aust Business Headlines, (ASX: CGJ), (ASX: RIO), (ASX: BCM)Wednesday September 19 10:19 AMFairfax newspapers are reporting that Rio Tinto and BHP Billiton are considering charging Chinese steel makers a premium to cover shipping costs, on top of huge expected increases in iron ore prices. The bargaining positions of Australian's iron ore giants have strengthened dramatically this year because of soaring Chinese demand. Iron ore prices have surged 50 per cent on the Chinese spot market and almost 100 per cent since the start of the year. The shipping premium would be on top of ordinary price rises, which analysts predict will be as large as 30 per cent. Rio Tinto posted record earnings in 2006. The full report is available at the following video and audio links. Video Link http://abnnewswire.net/fnnlnk/F4YRZ779 Audio Link http://abnnewswire.net/lnk/4OM090UQ Australian based investment company Babcock & Brown Capital says its 57.1 per cent-owned eircom Group has sold its radio mast site business to Irish investment group Towercom Holdings for $258 million. eircom owns Ireland's copper and fibre backbone telecommunications network and is the largest provider of fixed line wholesale and retail telecommunication services in Ireland. BCM director Rob Topfer says the proceeds from the sale will be reinvested in eircom's core business activities, and in renewing and improving the efficiency of its local access network and operations. Babcock and Brown Capital have fallen further into the red since 2006. Source: Finance News Network © 2007 http://www.finnewsnetwork.com.au About Finance News Network Finance News Network (FNN) has been producing up-to-date concise business and finance news tailored to traders and investors alike since 2002. FNN content reaches a diverse and constantly growing audience via online streaming video, Street Vision broadcasts and the Telstra 3G mobile phone network. http://www.finnewsnetwork.com.au Source: ABN http://www.ABNnewswire.net Copyright (C) 2007 ABN Newswire. All rights reserved. |
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