West Australian Premier Colin Barnett has defended the process behind the EPA's decision to recommend Woodside Petroleum's proposed $30 billion Kimberley gas hub. Mr Barnett agreed yesterday it was "coincidental" Environment Minister Bill Marmion had changed the law last year to allow one instead of three EPA members to make recommendations which later happened in the Woodside case.
Commonwealth Bank has raised $1.5 billion from institutional investors in its latest hybrid offer. The bank said it had completed the book-build for the tier 1 offer amid strong demand from brokers, with the margin set at 3.8 per cent.
Clean Seas cut
Clean Seas Tuna is cutting its workforce by about half and selling surplus boats as it grapples with sick fish. The South Australian fish farmer recently booked a loss for the second year in a row, including a $17.7 million write-down after its yellowtail kingfish stocks were struck by illness.
Discount retailer The Reject Shop has finalised a $27.4 million insurance claim for flood damage to its distribution centre in Queensland.
Property developer Mirvac Group's new chief executive, Susan Lloyd-Hurwitz, will start work in the top job in early November. Mirvac yesterday said Ms Lloyd-Hurwitz would join the company on November 5.
The administrator of troubled Australian fashion chain Ojay says he is hopeful a buyer can save the business. Administrators were appointed to the women's clothing company on August 31.
Lowe Lippmann partner
David Coyne said the there had been a "significant level" of interest.