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REAL ESTATE

REAL ESTATE

Mirvac's flying start

Property developer Mirvac has begun marketing its proposed Harold Park development in inner Sydney less than a week after taking ownership of the former harness racing ground. Mirvac is inviting potential buyers to register their interest in 1250 homes slated for development.

AVIATION

Tiger waits it out

Grounded airline Tiger Airways Australia won't be flying again before next week at the earliest, with the air safety regulator still deciding whether to lift its suspension. A Federal Court hearing on the suspension was adjourned on Wednesday for a fourth time, until tomorrow.

BIOTECH

Cancer drug move

Biotech company Bionomics will expand the development program for its tumour treatment drug. The company is in talks with Australian and US-based clinical networks about setting up a trial of BNC105, in combination with other drugs, to treat women with ovarian cancer.

MORTGAGES

The Rock rises

Britain's nationalised mortgage lender, Northern Rock, which was bailed out in February 2008, has reduced its losses and expects to turn a profit in the second half of the year ahead of a sale. Its interim loss came in at #68.5 million ($104 million), 48 per cent less than last time.

RESOURCES

Sundance ups aim

Sundance Resources chairman, George Jones, says the success of a $1.44 billion, 50?-a-share, takeover bid by Hanlong Mining is in the hands of the Chinese, although he expressed confidence a deal would be cemented by year's end. Sundance is seeking a higher offer.

BROADBAND

Live wires

Communities in five regional areas will be the first in Australia to get access to the National Broadband Network via high-speed fixed wireless, the federal government has announced. The communities will be selected from Ballarat, Darwin, Geraldton, Tamworth and Toowoomba.


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