Sydney, July 12, 2007 (ABN Newswire) - News Corp says it will launch Fox Business Network on the 15th of October. The network will be in direct competition with business cable channels Bloomberg and CNBC. Analysts, however, are questioning whether the market for business news can support a third channel. News Corp says Fox Business has secured distribution agreements with leading U.S. cable operators, making the channel available to up to 30 million subscribers. It comes as News Corp tries finalise a takeover arrangement with Dow Jones which, if successful, would afford Fox Business access to one of the world's most highly regarded newspapers. News Corp has produced profits over the last two financial years.
Newmont Mining has affirmed its 2007 sales forecast. The gold producer says it will sell 5.2 to 5.6 million equity ounces and says its second quarter results will likely be similar to those of the first quarter. Chief executive Richard O'Brien also says the temporary closing of the Midas mine in north-east Nevada after an industrial accident, will not likely affect the company's forecasts for the rest of the year. It is not known, however, when the mine will re-open. Newmont Mining is one of the world's largest gold producers. Newmont Mining produced record earnings in 2006.
And shares in Westfield Group have been placed on a trading halt this morning. It comes as the shopping centre operator conducts a bookbuild as part of plans to raise $3 billion through the issue of new shares. The company says it will issue the new shares at $19.50 to fund future growth opportunities. The trading halt will be in place for a period of one day.Westfield Group recovered from a loss in 2004 to produce profits over the last two financial years
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