Australian Weekly News

Due to the holiday period, the next Market Updates will be w/c 5th January 2009.

Week ended 12 December 2008

Rio Tinto announced plans to lower its debt by US$10bn, reduce capital expenditure, sell assets and cut jobs.

Fairfax Holdings will cut its interim dividend in March 2009 to preserve capital and reduce debt.

Tabcorp Holdings will be affected when the higher slot machine tax at casinos takes effect in July 2009.

Leighton Holdings’ Middle East partner Al Hatoor won an A$2bn contract to build a new concourse at Dubai Airport.

Westpac Banking Corporation completed an A$2.5bn share placement.

The Commonwealth Bank of Australia will raise up to A$750m in new capital via a share issue.

MYOB Limited will accept an improved offer from Manhattan Software.

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