IN BRIEF (Page 17)

China Daily | Updated: 2008-01-30 07:36

Good conditions

Australian business conditions were buoyant in December on strong profits and sales, mainly reflecting strong domestic demand, though employment slipped, a survey showed yesterday.

The National Australia Bank's business conditions index rose 2 points to 17 in December, following a fall of 5 points in November.

Exchange purchase

CME Group Inc, the world's largest derivatives exchange, hopes to broaden its reach by buying energy and precious metals mart Nymex for $11 billion, the companies announced on Monday (local time).

The proposal keeps up a breakneck pace of consolidation among US and global financial exchanges, many of which have staged successful initial public offerings in recent years.

Buyout proposed

Landry's Restaurants Inc Chief Executive Tilman Fertitta offered to buy out the company in a deal valued at $1.3 billion including debt, sending the restaurant-chain operator's shares up as much as 30 percent.

Fertitta, who currently owns about 39 percent in Houston, Texas-based Landry's Restaurants, offered to buy the rest of the company for $23.50 a share in cash.

Agencies

(China Daily 01/30/2008 page17)