BRIEFS

CHEMICALS

By InvestSMART · 22 May 2012

By InvestSMART ·
22 May 2012

Comments

CHEMICALS

Orica's big spend

Explosives maker Orica has shrugged off doubts about growth in iron ore demand by announcing it will build an $US800 million ammonium nitrate plant in Western Australia. Orica, chemical company Yara and oil explorer Apache have agreed to build the plant on the Burrup Peninsula in the Pilbara.

COAL

Abbot Point cut

The Abbot Point coal terminal's expansion has been downsized to ensure the project goes ahead. The Queensland Deputy Premier, Jeff Seeney, has announced the multi-cargo facility and six extra terminals planned under the former Labor government will not go ahead. The government will build two new terminals and expand the existing one at the north Queensland coal port.

ONLINE

Yahoo's $7b sale

Struggling internet company Yahoo has agreed to sell half its 40 per cent stake in Chinese e-commerce group Alibaba for about $US7.1 billion. Alibaba will buy back the stake for $US6.3 billion cash and up to $US800 million in preference shares.

CINEMAS

Chinese buy AMC

A Chinese conglomerate is to buy US cinema chain AMC Entertainment for $US2.6 billion to create the world's biggest movie theatre operator. Dalian Wanda Group says it is willing to invest an additional $US500 million in AMC.

RETAIL

Let bargains flow

Penny Winn, the head of Woolworths' push into digital retail, has criticised moves by Australian suppliers to stop shoppers getting online bargains offshore. "What kind of message does that send?" Ms Winn told a lunch yesterday. "It sends a message that we don't like competition."

COURTS

Adviser sentenced

Gambling has landed the Sydney financial adviser James Patrick Hobson with a two-year suspended jail sentence, a five-year good behaviour bond and permanent ban from providing financial services for misappropriating clients funds.

Go to Google News, then click "Follow" button to add us.

Share this article and show your support

Frequently Asked Questions about this Article…

What is Orica planning to build in Western Australia and who are its partners?

Orica has announced plans to build a US$800 million ammonium nitrate plant on the Burrup Peninsula in the Pilbara. The project is a joint effort with chemical company Yara and oil explorer Apache.

Why was the Abbot Point coal terminal expansion downsized and what will the Queensland government do instead?

The Abbot Point expansion was downsized to ensure the project goes ahead. Queensland Deputy Premier Jeff Seeney said the previously planned multi‑cargo facility and six extra terminals will not proceed; instead the government will build two new terminals and expand the existing north Queensland coal port terminal.

What deal did Yahoo make to sell part of its stake in Alibaba and what are the terms?

Yahoo agreed to sell half of its 40% stake in Chinese e‑commerce group Alibaba for about US$7.1 billion. Under the arrangement Alibaba will buy back the stake for US$6.3 billion in cash and up to US$800 million in preference shares.

Who is buying AMC Entertainment and how much is the takeover worth?

Chinese conglomerate Dalian Wanda Group has agreed to buy US cinema chain AMC Entertainment for US$2.6 billion. Dalian Wanda also said it is willing to invest an additional US$500 million in AMC.

What did Woolworths' digital retail head Penny Winn say about suppliers limiting online bargains?

Penny Winn, who leads Woolworths' push into digital retail, criticised moves by Australian suppliers to stop shoppers getting online bargains offshore. She asked, 'What kind of message does that send?' and said it sends a message that 'we don't like competition.'

What was the outcome for Sydney financial adviser James Patrick Hobson in the courts?

James Patrick Hobson was sentenced to a two‑year suspended jail term, received a five‑year good behaviour bond, and was permanently banned from providing financial services after misappropriating clients' funds.

Which companies and sectors are covered by the article that everyday investors should note?

The article covers a range of companies and sectors: Orica, Yara and Apache in chemicals and industrial projects; the Abbot Point coal terminal (infrastructure/coal); Yahoo and Alibaba in online assets; Dalian Wanda and AMC in cinemas and media; Woolworths in retail and digital competition; and a court case involving a Sydney financial adviser.

What types of corporate activity are highlighted in the article that can affect markets?

The article highlights major capital projects (Orica's ammonium nitrate plant), infrastructure changes (Abbot Point downsizing), large asset sales and buybacks (Yahoo and Alibaba), cross‑border acquisitions (Dalian Wanda buying AMC), retail competition debates (Woolworths on online bargains), and legal actions against financial advisers—all examples of corporate events investors commonly monitor.