Several companies associated with Perth Glory owner Tony Sage have been raided by federal police. It is understood the Australian Federal Police spent several hours in the soccer club's building as well as at the office of mining company Cape Lambert Resources, which Mr Sage chairs. An AFP spokeswoman confirmed several commercial and residential premises were raided in Perth and Sydney on Wednesday.
Whitehaven Coal shares rose sharply on speculation that China's Shenhua was interested in bidding for the company. Whitehaven told the stock exchange Shenhua had not made a proposal but confirmed it had held discussions with the Chinese group because of the "obvious potential synergies between the assets of each company in the Gunnedah Basin". Whitehaven shares closed up 26¢ at $3.47.
SA casino deal
The operators of Adelaide's SkyCity Casino will push ahead with a $300 million upgrade after signing a deal with the South Australian government allowing the installation of more gaming tables and poker machines. The casino will pay the government $20 million and has agreed to comply with revised measures to deal with problem gambling.
Merger and acquisitions lawyer Ewen Crouch is joining Westpac's board. Mr Crouch has been the chairman of Allens law firm since 2009. He will step down from his role at Allens on January 31, and join Westpac as an independent non-executive director on February 1.
BP duo trial
Two BP rig supervisors charged with manslaughter in the death of 11 workers on the Deepwater Horizon will go on trial in 2014. Robert Kaluza and Donald Vidrine are accused of disregarding high pressure readings that should have been indications of trouble before BP's well blowout.