Briefs
TOLL ROADS
TOLL ROADSRevenue jumpsToll road owner Transurban Group's revenue in the three months to June was up by 13.9 per cent, capping a 10 per cent rise in revenue for the financial year. Transurban owns the Lane Cove Tunnel and the M2, M5, M7 and Eastern Distributor roads.RESOURCESCurrency changeFortescue Metals Group has started making transactions in China in renminbi in a step towards conducting more trade in the Asian superpower's currency. The company is looking at being paid in the local currency and using it to buy equipment.INVESTMENTSLooking to buyA cashed-up Mirrabooka Investments expects a flat performance from corporate Australia this earnings season and is poised to make acquisitions while the sharemarket remains weak. The listed investments company posted an unaudited $10.9 million net profit for the 12 months to June 30, up 9.2 per cent on a year earlier.RESOURCESAlumina loses shineAlumina Ltd has warned that higher energy and raw material costs and the strong dollar were continuing to take the shine off the earnings boost coming from improved prices. The Australian group was commenting on its earnings outlook following Monday's release in the US of second-quarter results of its partner, aluminium giant Alcoa.PROPERTYAustralian appealAustralian cities remain among the most affordable destinations for businesses operating in the Asia-Pacific region, despite the strength of the Australian dollar, according to business consultant Mercer in its 2011 Worldwide Cost of Living Survey.ECONOMICSJapan cuts forecastThe Bank of Japan yesterday lowered its real GDP growth forecast for the current fiscal year to 0.4 per cent from an earlier 0.6 per cent projection, owing to the devastation caused by the March 11 earthquake and tsunami.
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