TO FINANCE, AND A SYDNEY LAW FIRM IS SET TO ANNOUNCE PLANS FOR A CLASS ACTION AGAINST MOBILE PHONE PROVIDER, VODAFONE.

PIPER ALDERMAN PUT OUT THE CALL TO DISGRUNTLED VODAFONE CUSTOMERS TWO YEARS AGO.

IT SAYS 23 THOUSAND PEOPLE HAVE SIGNED UP AND IT'LL ANNOUNCE DETAILS OF THE LAW SUIT TODAY.

VODAFONE SAYS IT CAN'T COMMENT BECAUSE IT'S BEEN GIVEN NO DETAILS ABOUT THE CASE.

A COMPREHENSIVE REPORT INTO TIMBER COMPANY, GUNNS RECOMMENDS IT BE WOUND UP.

ADMINISTRATOR P-P-B ADVISORY RELEASED ITS REPORT TO GUNNS' SHAREHOLDERS LAST NIGHT.

IT SAYS THE COMPANY MAY HAVE HAD FINANCIAL PROBLEMS SIX MONTHS BEFORE IT COLLAPSED.

IT FOUND THREE INSTANCES WHERE GUNNS MAY HAVE USED FUNDS FROM PLANTATION GROWERS AND OTHER COMPANIES TO KEEP RUNNING.

ADMINISTRATORS SAY FURTHER INVESTIGATIONS ARE NEEDED TO FIND OUT IF DIRECTORS BREACHED THEIR DUTIES.

CREDITORS WILL MEET NEXT WEEK TO DECIDE WHETHER TO LIQUIDATE THE COMPANY.

TO THE MARKETS AND AT THE CLOSE

THE DOW WAS DOWN MORE THAN 200 POINTS.

THE NASDAQ AND THE S-AND-P 500 ALSO LOST GROUND.

AND IN LONDON OVERNIGHT, THE FOOTSIE WAS 20 POINTS UP.

WEST TEXAS CRUDE IS TRADING AT 93 U-S DOLLARS A BARREL.

TAPIS CRUDE IS TRADING AT 121 U-S DOLLARS A BARREL.

AND GOLD IS WORTH 1594 U-S DOLLARS AN OUNCE.

THE AUSTRALIAN DOLLAR IS BUYING 103 U-S CENTS, 79 EURO CENTS AND 68 PENCE STERLING.

 

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