FORTESCUE Metals Group did not mislead investors about binding agreements with Chinese parties because investors knew that its Pilbara iron ore project was in its infancy, a court has heard.
The Australian Securities and Investments Commission has alleged Fortescue engaged in misleading and deceptive conduct by overstating the nature of deals with three state-owned Chinese companies [...]

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The National Australia Bank (NAB) has announced that CEO John Stewart will step down at the end of 2008.
Stewart will be replaced in January by head of NZ’s operations, Cameron Clyne who has previously worked for accounting firm PriceWaterhouseCoopers.
Mr Stewart believes that after 18 months of preparations by the bank’s board, Mr Clyne is the [...]

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