$1.4b funding

Leighton has signed a new $1.4 billion funding agreement and raised $US500 million ($479 million) from an issue of senior notes in the US. The facility refinances $700 million.


Case dismissed

Six aircraft engineers complained about the safety of doors on Qantas-owned planes as part of a subversive campaign for better pay, a court has ruled. The engineers reported in October 2010 that cockpit locks on Dash 8 planes operated by the Qantas subsidiary Sunstate Airlines could be opened with an ice-cream stick or a rolled-up boarding pass. However, a judge described the engineers' deeds as "industrial actions to be cloaked as aviation safety issues". He dismissed their application.


Work resumes

The troubled car parts producer Autodom has resumed operations in South Australia, averting a shutdown of Holden. Autodom's other plants in Melbourne are expected to be back in business today, ensuring a supply of components to Ford.


Labour costs up

Newmont Mining, which operates the Boddington goldmine south of Perth, says it is planning for annual pay rises of 5 per cent to 7 per cent across its global portfolio amid upward pressure on labour costs.


PMP stagnant

PMP does not expect any real increase in its earnings this year owing to tough trading conditions. If the result is as expected, it could be broadly in line with the $32.7 million it achieved in the year to end-June.


Council action

IMF Australia will fund another legal action against Standard & Poor's after a landmark court ruling this week against the ratings agency in its battle with 13 NSW councils. The company has agreed to fund Muswellbrook Shire Council's action against S&P and investment bank ABN Amro over the purchase of complex investment products.

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