BRIEFS

RETAIL

White departs Billabong

Billabong's chief financial officer Craig White has left the troubled surfwear retailer. It comes after the company began considering its lowest takeover offer in 10 months. Billabong said Mr White departed on Thursday and Peter Bryant, the company's chief financial officer of the Americas, had been temporarily appointed to the role.

BONDS

Investors step back from states

Foreign investors have been cooling their interest in bonds sold by Australia's state governments, just as some have been feeling pressure on credit ratings. Overseas ownership of state government bonds fell by $1.1 billion in the September quarter, according to figures released by the Bureau of Statistics. The overseas percentage ownership has fallen to 33.8 per cent from 36.2 per cent in the June quarter.

MEDICAL

Annie Lo to join Ansell board

Ansell, the maker of condoms and surgical gloves, has appointed former Johnson & Johnson veteran Annie Lo to its board. Ms Lo, formerly chief financial officer of Johnson & Johnson's worldwide consumer and personal care group, will join from January 1. It follows Ansell's purchase of a Brazilian protective equipment maker for $US77 million this week.

MINERALS

OZ in line for earnings slump

OZ Minerals is to report 2012 earnings that are about 15 per cent lower than the year before — and the slide may continue into 2013 as costs rise and copper production slips. Responding to a share price slump of 9.8 per cent this week, the copper and gold producer told the ASX that heavy trading on the stock was likely down to analysts updating their evaluations based on previously disclosed information.

TELCOS

Watchdog blocks Telstra

Telstra has been dealt a double blow as the competition watchdog raised concerns about its acquisition of Adam Internet and opposed its sale of Trading Post to a competitor. The telco unveiled its plans to buy Adam Internet for about $55 million in late October. The proposed acquisition was opposed by rivals such as Optus, iiNet and business telco Macquarie Telecom.

JAPAN

Bank extends asset trading

Japan's central bank has delivered its third dose of monetary stimulus in four months, as it faces intensifying pressure from the country's next leader for stronger efforts to beat deflation. The Bank of Japan expanded its asset-buying and lending program by ¥10 trillion ($112 billion) to ¥101 trillion, a widely expected move to ease monetary policy.