Fortescue in no rush to sell assets
FORTESCUE Metals says the iron ore miner is in no hurry to sell assets as it finds breathing space with deep cost cuts and debt reductions.
ANDREW Forrest's Fortescue Metals Group is in no rush to offload assets as it steams ahead with cost cutting and debt relief to shore up its future.
THE Pilbara iron ore miner's debt stands at $US6.6 billion, amid softening steel demand in China, but it has given itself some breathing space by reducing costs by 24 per cent and repurchasing $US384 million of debt in the September quarter.
Worrying sign for home buyers after rate cut
The Australian housing market has surged on the back of interest rate cuts, completely reversing a soft start to the year.
Star Entertainment enters into trading halt
The embattled Star Entertainment Group has failed to lodge its half-yearly results with the ASX.
Millions of Aussies to get rate cut today
Rate relief for millions of Australians starts on Friday as the first of the big four banks finally pass on the RBA’s rate cut to mortgage holders.