LONDON - An influential body representing British business said there was a “distinct possibility” of the United Kingdom facing recession in the next six or nine months, in a report published on Sunday.
BERLIN - Germany’s Deutsche Telekom, the biggest telecoms group in Europe, intends to shut nearly half its call centres in Germany, according to a report due out Monday in the Focus newsweekly.
ZURICH - Switzerland’s biggest bank UBS, which has lost billions in the United States subprime crisis, would return to profitability next year, its chairman Peter Kurer said in remarks published Sunday.
DUBAI - The government of Dubai, which is vying to become a global financial hub, vowed on Sunday to crack down on corruption amid a series of probes into alleged financial irregularities in high-profile firms.
HONG KONG - Growth in Hong Kong air passenger traffic slowed last month to the lowest rate this year as soaring crude oil prices dampened demand for air travel, the airport authority said.
SINGAPORE - Foreign talent and migrants in Singapore give the economy an extra boost, Prime Minister Lee Hsien Loong said on Sunday amid worries among locals that they are losing out to the newcomers.
LOCAL NEWS
CANBERRA - The federal government is insisting it will fight to establish a national FuelWatch scheme, saying it could save motorists $10 on a tank of petrol.
SYDNEY - A rudder problem has forced Qantas to delay the departure of a Sydney-bound airliner from London’s Heathrow airport by more than 16 hours.
SYDNEY - Fears are growing that the commodities boom is ending as investors who have fled the oil market desert gold, copper and other metals.
MELBOURNE - Former federal treasurer Peter Costello is by far the most popular choice to lead the Liberal Party, a Fairfax/Nielsen poll has found.
STOCKS TO WATCH ON THE AUSTRALIAN STOCK EXCHANGE TODAY:
CSR - CSR LTD - down nine cents to $2.43
CSR has warned shareholders to beware of unsolicited offers they may receive for their shares. The warning follows CSR being approached for a copy of its share register by Share Buying Group Pty Ltd.
GNS - GUNNS LTD - down 16 cents to $2.15
Woodchipping firm Gunns expects to report a net profit of about $67 million for 2007/08, based on unaudited figures.
BJT - BABCOCK AND BROWN JAPAN PROPERTY TRUST - up four cents to 83.5 cents
BNB - BABCOCK AND BROWN LTD - down 55 cents to $4.45
Babcock & Brown Japan Property Trust has forecast total distributions in fiscal 2009 to at least stay steady, helping its units to surge over 14 per cent.
MAP - MACQUARIE AIRPORTS - down four cents to $2.81
The east-west runway at Sydney airport will remain open during upcoming safety upgrades, federal Transport Minister Anthony Albanese says.
FUN - FUNTASTIC LTD - in trading halt, up 0.5 cent to 49.5 cents
Shares in toy wholesaler Funtastic Ltd have been placed in a trading halt pending an announcement.
QAN - QANTAS AIRWAYS LTD - up six cents to $3.50
Qantas flights continue to be dogged by maintenance issues. A small body panel has fallen off a Jumbo jet on its way to Singapore from Melbourne, and a flight from Brisbane to Melbourne was delayed by more than half an hour today due to a technical problem. On the brighter side, Qantas has confirmed its new A380 super jumbo will make its debut flight for paying passengers on October 20.
MCW - MACQUARIE COUNTRYWIDE TRUST - down 0.5 cents to 97 cents
Retail sector property vehicle Macquarie Countrywide Trust has moved to reduce debt by selling its Adelaide-based Seaford Plaza shopping centre for $72 million.
IRN - INDOPHIL RESOURCES NL - steady at $1.33
Xstrata Plc has extended its $540 million takeover bid for Indophil Resources NL, its joint venture partner in the $3 billion Tampakan copper and gold project in the Philippines.
MTN - MARATHON RESOURCES LTD - down 3.5 cents to 72.5 cents
Marathon Resources says it aims to prove the company can be “responsible participants” in the mining industry after drilling at a South Australian uranium project was suspended following the incorrect disposal of waste.
MAH - MACMAHON HOLDINGS LTD - down two cents to $1.53
Contracting and services group Macmahon Holdings has won a $78 million design and construct contract to extend the Reid Highway in Perth.
NCK - NICK SCALI LTD - up three cents to 66 cents
Listed furniture retailer Nick Scali says conditions in the industry remain subdued after booking a 24 per cent decline in its 2007/08 profit.
AIA - AUCKLAND INTERNATIONAL AIRPORT LTD - up one cent to $1.63
An expenses claim following the unsuccessful Canadian bid for a stake in Auckland International Airport (AIA) has been settled, the parties say.
TEL - TELECOM CORPORATION OF NEW ZEALAND LTD - steady at $2.63
FCL - FUTURIS CORPORATION LTD - up 10 cents to $1.40
New Zealand Telecom is suggested as a possible buyer of the 50 per cent stake in Perth telecommunications company Amcom being sold by Australian agribusiness and car parts supplier Futuris Corporation.
