PRESS DIGEST-Australian Business News - Nov 11

Compiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy.

THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)

Diversified corporation Wesfarmers' (WES.AX) chief executive, Richard Goyder, yesterday expressed caution over rising interest rates and the new workplace regulator, Fair Work Australia.

Mr Goyder - who oversees Coles supermarkets, Bunnings hardware, and chemical and insurance businesses - yesterday said these two factors may hinder the economic recovery. 'I for one am concerned that increasing interest rates, coupled with people working less hours, may impede the pace of recovery,' Mr Goyder added. Page 49.

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The global financial crisis continues to affect media group Fairfax Media's (FXJ.AX) earnings, with chief executive Brian McCarthy yesterday reporting that underlying earnings were down 15 percent in the four months to the end of October. Mr McCarthy announced the figure at the company's annual general meeting, which was chaired by the newly appointed Roger Corbett. Outgoing chairman Ron Walker and director Julia King both stepped down from their roles at yesterday's meeting. Page 49.

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Department store David Jones (DJS.AX) has bolstered staff working hours by 10 percent, and part-time and casual staff numbers by 1700, ahead of the Christmas and New Year trading period. DJs chief executive Mark McInnes yesterday said that trading continues to be volatile, and that the store has no plans to lift fixed costs. 'Consumers are still fragile and whilst we're building momentum it's still susceptible to shocks,' Mr McInnes added. Page 50.

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Television broadcasters Ten Network (TEN.AX) and Foxtel have decided to collaboratively sell sponsorship for their coverage of the Delhi Commonwealth Games in October 2010. The sponsorships will be sold on Ten's main channel and sports digital channel, as well as six channels that Foxtel will establish for the games. Foxtel chief executive Kim Williams says the combined effort came in response to advertiser demand for more comprehensive, consistent and seamless coverage. Page 50.

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THE AUSTRALIAN (www.theaustralian.news.com.au)

German construction company Bilfinger Berger <GBFG.DE announced yesterday that it is considering floating its Australian business for A$1.5 billion.

The initial public offering would include brands Abigroup and Baulderstone and allow the company to reduce its exposure to the building and civil construction market. A decision on the offering is expected to be announced early next year, as German senior executives are expected to arrive in Australia next week to meet with institutions and banks. Page 35.

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According to Arthur Kroeber, managing director of search firm Dragonomics, China wants to foster an environment where businesses can invest with confidence.