Mar 22, 2018 Last Updated 10:48 AM, Mar 21, 2018

New Entry From the Editor :

Glencore acquires $1.7 billion Hail Creek coal mine as rivals exit the industry

Glencore acquires $1.7 billion…

AusBN - Glencore will purchase Rio Tinto’s Hail Creek coal mine in Qu...

TPG Telecom H1 profit dips 11% to under $200 million

TPG Telecom H1 profit dips 11%…

AusBN - Telecommunications firm TPG Telecom has posted a first-half net pro...

Australian junior Raiden Resources strikes momentous deal with Rio Tinto

Australian junior Raiden Resou…

AusBN - Raiden Resources (ASX:RDN) will enter a joint venture with Rio Tint...

Tesla opens third retail store

AusBN – Electric car maker Tesla has opened its third retail store in a business park in Richmond, Australia.

The 2,500 square metre showroom will host the Model S car, which customers will be able to test drive.

Four supercharge stations are also located near the show room and can be used by Tesla-car owners.

Customers can also have their car serviced at the new store.

The company has also announced plans to connect Sydney, Melbourne and Canberra through a recharge network for drivers.

Australian spokesman Heath Walker said: "I can assure you that we are not tackling sites one by one, and that numerous locations are under investigation or development." 


Westfield to list in UK or US

AusBN – Westfield Corporation (ASX: WDC) has announced plans to list in the US or UK early next year.

The move follows the company’s controversial A$70 billion spilt of its international and domestic units last year.

Following the spilt Westfield holds around 40 malls in the US and UK while the spin-off company Scentre Group holds Australasian assets.

The company has also hinted at moving its Sydney head offices overseas and the new location will depend on where it decides to list.

Chairman Frank Lowy said: “We have made it clear at the time of the restructure that we are intending to get listing elsewhere and the details have not been fully worked out, it’s a very complex issue.

“There will be no solution, until there is listing, as to where head office and administration will be.”


GUD Holdings raises $79.3m

ABN – Through a share placement to investors home appliances manufacturer GUD Holdings has raised A$79.3 million.

The funding will be used to aid in the company’s acquisition of lighting products supplier Brown & Watson International.

Over 10 million shares were issued at $7.45 each.

GUD Holdings CEO Jonathan Ling said: “We are very pleased with the strong level of demand received in the placement from both existing and new shareholders, demonstrating support for our growth strategy.”


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