UGL snares $190m BP contract

UGL and BP are setting up a joint venture that will carry out maintenance work at the fuel giant's Australian terminals.

Rob Whitfield leaves Westpac

Rob Whitfield is stepping down as head of Westpac Institutional Bank to be replaced by Commonwealth Bank executive Lyn Cobley.

AGL plans $1b worth of asset sales

AGL plans to sell of $1 billion worth of assets and cut costs by $200 million by the end of the 2016/17 financial year.

Budget confidence bounce eases

ANZ/Roy Morgan's consumer confidence index fell one per cent last week, partly reversing the 3.6 per cent gain made the week after the federal budget.
Aristocrat Leisure has achieved strong half year profit growth on its expansion in the US and the growth of its online gaming products.

OzForex profit up more than 50%

OzForex increased its full year profit by 52 per cent to $24.3 million due to higher customer numbers.
The head of Cochlear's North American operations, Chris Smith, has been appointed the hearing implant maker's new chief executive.
Two Chinese companies have reportedly made applications to the Foreign Investment Review Board about investing in Fortescue Metals, pushing shares higher.
By not passing on the RBA's series of interest rate cuts to credit card customers, banks have reaped an extra $2.1b in interest.
Investment bank Credit Suisse expects the Australian stock market to be roughly flat in a year's time.
Insurance group Greenstone, the company behind the Choosi comparison website, is looking to raise nearly $1bn and list on the ASX in June.

Obeid's sons face legal action

Two of Eddie Obeid's sons and three businessmen involved with Cascade Coal are facing legal action over the alleged rigging of a coal licence tender.
The Reef Casino Trust is looking towards new marketing initiatives and a partial revamp after the abandoned takeover bid by Aquis.
Evolution Mining is buying the Cowal gold mine in central west NSW for $US550m in a deal with Canada's Barrick Gold.

Shareholders feeling pessimistic

Neither cheap money nor the federal budget have prevented shareholders from feeling gloomy again.
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