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Google Purchases YouTube for $1.65B
1pointsGoogle announced today that it would acquire YouTube for $1.65 billion in stock compensation. YouTube will continue to operate independently. Google Video will continue to operate separately. The acquisition combines the largest and fastest-growin…
Companies urged to target US e-shoppers
1pointsAmerican consumers are expected to more than double online purchases to $US435 billion ($A586 billion) by 2010, creating huge export e-commerce opportunities for astute Australian businesses. Austrade is encouraging companies to target the 200 mil…
Menzies snaps up Perth Cargo Centre
1pointsMENZIES Aviation, a division of Edinburgh-based logistics heavyweight John Menzies, has moved into Western Australia, snapping up Perth Cargo Centre for an undisclosed sum. The privately owned Australian cargo-handling operation had gross assets a…
Google makes play for YouTube
1pointsInternet search leader Google Inc. is in talks to acquire the popular online video site YouTube Inc. for about $US1.6 billion ($2.15 billion) in cash and stock, according to published reports. Google and San Mateo-based YouTube are at a sensitive…
Australia's Sigma makes offer for API
1pointsAustralian drug manufacturer and distributor Sigma Pharmaceuticals Ltd. (SIP.AX: Quote, Profile, Research) said on Friday it has made an offer to buy rival Australian Pharmaceutical Industries Ltd. (API.AX: Quote, Profile, Research).
Rogue Russian mp3 site threatens trade talks
1pointsRussia should shut down a pirate music Web site that is robbing U.S. recording companies of sales if it wants to become a member of the World Trade Organization, the top U.S. trade official said on Wednesday.
Embarrassing 18 minute T3 call bungle
1pointsnvestors have been steadily calling the federal government's T3 prospectus hotline this week, although a repeat performance of an embarrassing 18 minute delay to speak to an operator could leave some potential shareholders scratching their heads.…
Woodside to fund rock art scholarship
1pointsOne of Australia's largest energy companies will fund a three-year postgraduate scholarship for research into a collection of Aboriginal rock art on Western Australia's Burrup Peninsula. The carvings currently are at the centre of a heritage listi…
China calls for calm over N Korea
1pointsChina has appealed for calm following North Korea's announcement that it planned to test a nuclear bomb. "We hope that North Korea will exercise necessary calm and restraint," a Foreign Ministry spokesman said, urging other states not to escalate…
WA boom times to continue, but global risks loom
1pointsWestern Australia's stellar economic performance is expected to continue over the next two years despite continuing capacity constraints. Only a development impacting on the state's export customers - such as a slowing of the giant US economy - co…
Australian business mood slips
1pointsAustralian businesses felt less confident in the third quarter as higher interest rates and rising costs took a toll, a survey reported on Tuesday. The National Australia Bank said its business confidence index fell a further 6 points to stand at…
Home Building Society Ltd agreed to acquire Police & Nurse Credit Society Ltd
1pointsHome Building Society Ltd has offered to acquire Police & Nurse Credit Society Ltd (PNCS) for AUD215 million (US$161.3 million) in stock. Home Building Society is also proposing an alternative offer up to AUD243 million (US$182.4 million) as for PNC…
MySpace 'could be worth $15b in 3 years'
1pointsMySpace, the social networking web site, could be worth around $US15 billion ($A20.02 billion) within three years, measured in terms of the value created for shareholders of parent company News Corp., a Wall Street media analyst forecast on Wednesday…
Vizard 'misled' bank, says lawyer
1pointsWestpac fell for lies from businessman Steve Vizard about his former bookkeeper Roy Hilliard "hook, line and sinker'', a judge has been told. Peter Hayes, QC, for Hilliard, said Vizard had misled the Supreme Court and had told deliberate untruths…
Wesfarmers announces LNG plant for WA
1pointsPerth-based industrial conglomerate Wesfarmers has announced the construction of a $138 million liquefied natural gas (LNG) plant in Western Australia. Wesfarmers says the Kwinana plant, south of Perth, will produce 175 tonnes of LNG per day, whic…
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