InvestSMART
The Intelligent Investor Growth Fund is listing on the ASX. Initial Offer closes Friday.

BRIEFS

REGULATOR

REGULATOR

Westpoint charges

The corporate regulator has confirmed it laid criminal charges in April against the founder of Westpoint, Norm Carey, and the collapsed property financier's financial controller, Graeme Rundle, over transactions involving a shopping centre at Warnbro, south of Perth. Mr Carey told The West Australian this week he had delivered "a super return to investors" in the shopping centre and the Australian Securities and Investments Commission would be "laughed out of court".

AMERICA

Geithner may quit

The US Treasury Secretary, Timothy Geithner, has signalled to White House officials that he is considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the federal debt limit.

DRILLING SERVICES

AJ Lucas raising

AJ Lucas will be forced to tap shareholders for a "substantial" equity raising to resuscitate the balance sheet of the ailing drilling services provider, after a range of other options, including asset sales, fell through. Shares in the company have been suspended for five weeks as it seeks a way to plug a working capital deficit of $124 million, while it also has $90 million in loans which may fall due within the year. The equity raising is understood to be in the vicinity of $100 million.


Join the Conversation...

There are comments posted so far.

If you'd like to join this conversation, please login or sign up here

Related Articles