BRIEFS
Shares jump
Whitehaven Coal shares
jumped 8.1 per cent 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. Whitehaven shares closed up 26¢ at $3.47, valuing the company above $3.5 billion.
CASINO
Skycity boost
The operator 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.
BANK
On the board
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.
URANIUM
Wiluna delay
Toro Energy has expressed its disappointment at a further delay to its Wiluna project in Western Australia, which is the front-runner as the state's first uranium mine. Toro said
federal Environment Minister Tony Burke had delayed a decision on whether to
approve the project and requested more information.
He delayed his decision until March 31.
OIL
Charges laid
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. Prosecutors said they expect to provide more than a million pages of information to the defence.
Frequently Asked Questions about this Article…
Whitehaven Coal shares rose 8.1% on speculation that China's Shenhua might be interested in a bid. Whitehaven told the stock exchange Shenhua had held discussions but had not made a formal proposal. The shares closed up 26¢ at $3.47, valuing the company at above $3.5 billion.
No. According to Whitehaven's announcement to the stock exchange, Shenhua had held discussions with the company but had not made a proposal or formal offer.
Takeover speculation can drive short-term share price moves, as seen with Whitehaven's 8.1% jump. Everyday investors should watch for official company or ASX announcements to confirm any deal and be mindful that speculation can create volatility rather than guarantee a completed transaction.
Skycity will proceed with a $300 million upgrade of Adelaide's Skycity Casino after agreeing with the South Australian government to install more gaming tables and poker machines. The casino will pay the government $20 million and comply with revised problem-gambling measures. For investors, the upgrade signals planned expansion of operations alongside regulatory and compliance commitments.
Ewen Crouch, a mergers and acquisitions lawyer and chairman of Allens since 2009, will join Westpac as an independent non‑executive director on February 1. He will step down from his role at Allens on January 31.
Toro Energy said it was disappointed after federal Environment Minister Tony Burke delayed a decision on the Wiluna project and requested more information. The minister pushed the decision out until March 31. Wiluna is the front‑runner to be Western Australia's first uranium mine.
Two BP rig supervisors, Robert Kaluza and Donald Vidrine, have been charged with manslaughter in connection with the deaths of 11 workers on the Deepwater Horizon. Their trial was set for 2014; prosecutors allege they disregarded high pressure readings and expect to provide more than a million pages of information to the defence.
Regulatory delays—like the Environment Minister's postponement of the Wiluna decision—can postpone project timelines and affect investor sentiment. Legal actions, such as the manslaughter charges linked to Deepwater Horizon, can create uncertainty for companies involved or their contractors. Both types of events often lead to increased volatility and make it important for investors to follow official updates.
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