Sydney, July 4, 2007 (ABN Newswire) - Building materials heavyweight CSR has been charged over a chemical spill. The NSW Department of Environment and Climate Change initiated the action over the spill which closed two kilometers of the Parramatta River in Sydney last year. The charges are in relation to breaches of the Pollution of the Environment Act. Around a thousand litres of chemicals used in paints clogged the river between Rydalmere and Olympic Park last July. CSR has denied any involvement with the spill. CSR experienced its earnings highlight in 2003.

BHP has approved the development of the PYRENEES oil field in the Exmouth sub-basin. BHP has a 71 per cent stake in the project worth just under $2 billion. The field will include a floating production, storage and offloading vessel with 13 subsea wells attached to it. Located almost 20 kilomtres offshore from the North-West Cape in Western Australia, the field is expected to have an estimated life of 25 years. Production is expected to commence in the first half of 2010. BHP Billiton produced record earnings in 2006.

And it appears News Corp has moved yet another step closer in its bid for Dow Jones. It follows news the managing editors Dow Jones News Wires and the Wall Street Journal expressed their appreciation for the editorial guidelines being set in negotiations. Just last week News Corp reached an agreement with Dow Jones on the make-up of a committee designed to oversee top editors in the event of a sale. News Corp has offered 60 U.S. dollars a share for the company. News Corp has produced profits over the last two financial years

The full report is available at the following video and audio links.

Video Link

http://www.finnewsnetwork.com/asxgen/get_asx.aspx?amp;site=abnnewswire&intro=MBL_BusinessHeadlines.wmv&media=Headlines(Broadband).wmv&content_type=BUSINESS_REPORT&date=20070704


Audio Link

http://www.finnewsnetwork.com/asxgen/get_asx.aspx?site=abnnewswire&media=Headlines.wma&content_type=BUSINESS_REPORT&date=20070704

>>> BHP BILLITON LIMITED
>>> CSR LIMITED
>>> NEWS CORPORATION