THE NEWS WRAP: Red-faced David Jones asked to explain mystery takeover bid
Monday, July 2, 2012/
A $1.65 billion takeover bid for David Jones from a mystery UK investment firm has been withdrawn, leaving the embarrassed retailer with a significantly reduced share price.
David Jones was forced to explain why it had told the market of the bid when no further details were forthcoming. The company said it was an ”unusual, incomplete and uncertain” offer.
Businesses back carbon pricing
Nearly 300 businesses, including Westpac, AGL and Unilever, have signed a joint statement backing the carbon tax, claiming the move will boost the clean energy industry.
The Businesses for Clean Energy consortium said there was strong business backing for a price on carbon, but that the federal Coalition’s determination to dismantle the scheme was undermining confidence.
Apple agrees Chinese iPad payout
Apple has agreed to pay $60 million to Chinese firm Proview over an iPad trademark dispute.
The Dow Jones Industrial Average fell by 8.70 points, or 0.07%, to 12,871.39. The Australian dollar was up to US$102.51 cents.