Television program maker and distributor Beyond International Ltd has reported a fall in first half profit.

LONDON (AFP) - The nationalisation of troubled British bank Northern Rock, which was rocked by the global credit crunch six months ago, was approved by parliament Thursday night after three days of debate.

The big oil refiner, Caltex, has reported a sharp rise in profits, but only because of the increased value of its stockpiles of crude.

Just three years ago, when Telstra was in deep corporate trouble in the boardroom and on the sharemarket, a little-known Hispanic American was headhunted with the mission of turning the troubled telco giant around.

Australian surfwear company, Billabong International, is another casualty of the stronger dollar.

SYDNEY, Feb 22 (Reuters) - Australian shares fell 1.4 percent on Friday, dragged down by fresh worries about a U.S. recession, while a tumble in oil prices hit energy firms.

SYDNEY, Feb 22 (Reuters) - Australian gaming group Crown Ltd CWN.AX has hired Simon Milne as its new treasurer, a market source said on Friday.

SYDNEY, Feb 22 (Reuters) - Australian shares fell 1.1 percent on Friday, dragged down by fresh worries about a U.S. recession, while a tumble in oil prices hit energy firms.

Penrice Soda has announced a & #36;1.5 million clean up of the Port River in Adelaide's west.

Scrap metal recycler Sims Group Ltd has forecast its third quarter earnings to exceed each of the first and second quarters.

Lihir Gold has suffered a full-year loss after restructuring its finances to take advantage of record high bullion prices.

MELBOURNE, Feb 22 (Reuters) - Australian Neville Crichton, the biggest shareholder in UK luxury car dealer HR Owen Plc HRO.L, said on Friday he was attracted to HR Owen, valued at & #36;63 million, but said he was not making

MELBOURNE, Feb 22 (Reuters) - Australian conglomerate Wesfarmers Ltd WES.AX beat forecasts with a 53 percent rise in first-half profit, boosted by its acquisition of the Coles supermarket chain, sending its shares up as much as 6 percent.

Challenger Diversified Property Fund has reaffirmed its annual distribution guidance and moved to calm investor nerves about debt.