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Published: Tuesday 01 October, 2013

handbags outlet online handbags outlet online ?Multiplex a bummer Archives

1 The US market is again providing leadership after more evidence overnight that its economy is growing, and not generating too much price inflation. Wall Street traders pushed shares higher on the news.

2 The same news is generating significant demand for Australias miners today. BHP Billiton is up 43 cents or 2.68 per cent, to $16.48. Rio Tinto up 98 cents or 2.3 per cent, to $43.33.

has resigned amid a review of operations, and Multiplex says losses on its contract to build the new Wembley Stadium in north suburban London will be bigger than expected.

Multiplexs shares are in trading halt to let the punters digest this bitter pill the latest in what seems like a permanent prescription for Oz companies to lose the plot overseas.

From AAP: Multiplex Gr handbags outlet online oup has revealed its troubled Wembley Stadium construction project in the United Kingdom may end up with a loss of more than $50 million.

The property group today said an ongoing review of the groups operations revealed the margin position of the flagship Wembley project may have deteriorated significantly.

The family of executive chairman John Roberts had agreed to pay any loss up to $50 million on the Wembley project, but Multiplex today said the loss could end up being more than that.

The possible outcomes include a loss position significantly greater than that which would be covered by the $50 million Roberts Family indemnity, the group said in a statement. Previously, the project was expected to break even.

Securities in Multiplex were placed in a trading halt today as the group undertakes further analysis on its operations, with a market update expected to be made on Monday.

Mr Roberts today resigned from his position, though he will remain as a director on the board.

Deputy chairman Allan McDonald has now been elected as no handbags outlet online nexecutive, independent chairman, effective immediately.

Executive director Noel Henderson has resigned from the board but remains chairman of the construction division.

Multiplex securities have nearly halved in value since the shock announcement in February that the massive $1.2 billion Wembley construction was no longer expected to make a profit. Economists expected growth of 3.6 percent in a Bloomberg News survey.

The report also showed the GDP price index, an inflation measure, rose at a 3.2 percent annual rate in the first quarter, down from the 3.3 percent pace previously estimated.

The number of Americans filing firsttime applications for unemployment benefits increased last week to 323,000 from 322,000, the Labor Department said. Economists expected claims of 325,000, according to a Bloomberg survey.

And heres Bloombergs GLOBAL HIGHLIGHTS

Benchmark indexes have jumped at least 3.7 handbags outlet online percent since May 13, aided by data suggesting that inflation is in check, and todays report provided more evidence of that.

This rally can continue and it will continue, said Mark Kajita, chief investment officer at Baker Boyer Bancorp, which oversees $500 million in Walla Walla, Washington. The fundamentals are behind the economy to move ahead very strongly. handbags outlet online