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Showing posts from January, 2009

Ravensthorpe Bhp mine closedown

FOLLOWING months of mounting speculation over the viability of its Ravensthorpe nickel mine, BHP Billiton has today confirmed market suspicions, announcing it will begin the progressive shutdown of the Western Australian operation and cut close to 2000 staff.
BHP said the decision to pull the pin on Ravensthorpe, which has been in production less than a year, was in line with the miner’s forecast for lower profits, especially given the current nickel market and high capital expenditure involved at Ravensthorpe.The Metals & Mining sector added its weight to the FTSE 100 index on Wednesday after BHP Billiton announced it will take a $1.6 billion hit in 2009 after opting to close down its Ravensthorpe nickel mine in Australia in reaction to declining demand. BHP, which last month withdrew its bid for peer Rio Tinto citing deterioration of near-term global economic conditions and lack of any certainty as to when conditions would improve, said it will indefinitely suspend operations…

Constellation Brands, Inc. STZ Selling Stakes

Constellation Brands has been searching for the right liquor mix. It's selling its low-priced spirits business as a way to raise cash to pay down debt.Constellation Brands Stz, the world’s largest wine company and a leading international producer and marketer of beverage alcohol, has entered into an agreement to sell its spirits business to New Orleans-based Sazerac Company for US$334 million (A$492m). The transaction is expected to close by the end of February 2009.
Constellation, which is listed on the Australian Stock Exchange and owns the Houghton and Hardys brands among others, is retaining the SVEDKA Vodka, Black Velvet Canadian Whisky and Paul Masson Grande Amber Brandy brands. Constellation Brands, Inc.International producer and marketer of wine, beer, and spirits. Includes company history, products, news, and investor and career information. Show stock quote for STZwww.cbrands.com/SVEDKA Vodka is the fourth largest imported vodka brand in America and one of the fastest…

Australia Foreign Exchange Rates

Foreign Exchange Rates 2009 These  foreign exchange rates are current as at 02-Jan-2009 Technorati Tags: , Rates are expressed as 1 AUD = CODEThe Bank buys inward remittances atThe Bank buys
cheques atThe Bank buys
notes atThe Bank sells outward remittances atThe Bank sells notes atUS Dollar USD 0.7125 0.7150 0.7288 0.6896 0.6845 Great British Pound GBP 0.4893 0.4916 0.5054 0.4698 0.4640 Canadian Dollar CAD 0.8502 0.8572 0.8865 0.8219 0.7986 Chinese Renminbi CNY 5.2988 4.2738 Danish Kroner DKK 3.8036 3.8350 4.2537 3.6286 3.5579 Euro EUR 0.5113 0.5166 0.5408 0.4875 0.4808 Fijian Dollar FJD 1.2698 1.2847 1.3367 1.1776 1.1420 Hong Kong Dollar HKD 5.5229 5.5617 5.9398 5.3152 5.2505 Indian Rupee INR 34.941 36.001 32.791 32.491 Indonesian Rupiah IDR 8646.1001 7129.4099 Japanese Yen JPY 65.45 65.63 72.67 61.95 60.34 Kuwaiti Dinar KWD 0.1983 …