Sydney, Oct 17, 2007 (ABN Newswire) - PBL has decided to push on with plans to split its media and gaming assets into separate companies after receiving more information about proposed tax changes. On Monday, PBL deferred its application for legal approval after proposed government tax changes looked to affect company de-mergers. However the government announced the changes would not affect any deal announced before October 13 and PBL will now take its plans to an Australian court today with a statement expected from the company after the hearing. Publishing & Broadcasting enjoyed an outstanding profit result last financial year.

ANZ Bank has announced a restructuring of its Asia Pacific business management in a shake-up focused on accelerating growth opportunities in the region. The bank has two senior management roles to oversee its business in Asia. Senior executive Owen Wilson has been appointed as managing director retail for Asia and Mark Whelan as managing director institutional for Asia. Three senior managers will also be responsible for developing business in ANZ's three key geographies in the region Pacific, South and South East Asia and North East Asia. With the Australian market share firmly split between the big four banks with little room for major expansion incoming CEO Michael Smith has indicated ANZ will heavily target Asia for future growth. ANZ Bank has been posting increasing record profits over the last four years.

Transfield Services has acquired two well established US facilities maintenance companies Horizon National Contract Services and Whelan's International for $147.5 million us dollars. Horizon and Whelan's are leading providers of facilities maintenance services to more than 120 retail and financial clients across the US and Canada. The retail facilities management market in the North America is worth approximately $20 billion US and is forecast to rise to $32 billion us dollars by 2012. The acquisitions will be integrated into the Transfield Services Group together with US Maintenance. Transfield Services saw a sharp increase in earnings results last financial year.

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

Video Link

http://abnnewswire.net/fnnlnk/3K9WJ7XX


Audio Link

http://abnnewswire.net/lnk/65L23A95



Source: Finance News Network © 2007 http://www.finnewsnetwork.com.au

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