Daily FNArena News - Australia

The Macquarie Infra spin-off SRG listed last week and hardly set the world on fire. Brokers were circumspect in their initiations.

Downer EDI yesterday downgraded earnings guidance as it wrote-down the value of a number of contracts, leaving brokers unimpressed and resulting in the share price being slashed.

News Corp will earn significant revenues from its deal with Google, but the growth of its MySpace networking site and the potential to add new products suggest this is the tip of the iceberg.

Intersuisse is not part of the FN Arena broker database, but it does manage to come up with some gems occasionally. Enjoy one broker’s updated views on Telstra.

National Bank’s July Business Survey results indicate business confidence levels and conditions are now being impacted by the recent rate rises, but the solid growth outlook is unchanged.

Stirling Products is looking at compounds to make cattle less fat, hoping its anti-obesity product could eventually find its way into an application for humans to benefit.

Online advertising in Australia has grown by nearly 60% in fiscal 2006. Search and Directories took the lion’s share.

Linc Energy is undergoing Stage One of its coal-to-oil conversion project incorporating underground coal gasification. The world is taking note.

Court documents in the US have revealed a rather generous payout for the current Telstra CEO at his former US employer.

Austar United’s quarterly result has, if anything, left brokers with even more divided opinions as to its prospects for earnings growth.