Briefs
Sydney Morning Herald
Thursday February 4, 2010
RESOURCESBid for RusinaLondon-listed European Nickel has made a takeover bid for the Perth-based minerals explorer Rusina Mining, which values the Australian company at about $33 million. Rusina's directors unanimously recommended acceptance of the all-scrip deal, which will leave investors with 27.3 per cent of the merged company.RETIREMENTAevum in the blackRetirement business Aevum says the investment outlook remains uncertain despite a strong housing market and a swing to the black in the first half. Net profit for the six months to December 31 rose to $2.6 million from a $14.95 million loss in the previous corresponding half.TRADE DEFICITDeeper in redThe trade deficit widened in December and could go further into the red before turning around because of stronger iron ore and coal contracts, economists say. The deficit was $2.25 billion in December, seasonally adjusted, from $1.72 billion in November, the Bureau of Statistics said.TAKEOVERSClosing in on DioroAvoca Resources is closer to taking over Western Australia's Dioro Exploration, after Dioro's independent directors recommended shareholders accept the deal. Avoca has offered 65c cash plus 0.325 Avoca shares for each Dioro share.CAR INDUSTRYToyota's woesToyota Motor, reeling from a public relations nightmare over accelerator problems, reported dozens of complaints in North America and Japan about brake failure on its top-selling Prius hybrid.ENERGYStuart optimisticStuart Petroleum has forecast a return to profitability in the first half of the 2010 financial year, after it wrote off the cost of an unsuccessful well. The South Australian oil and gas group said it expected a net profit after tax of about $1.8 million for the half year ended December 31, including a $4.6 million pre-tax profit from the sale of its interest in a Timor Sea permit.
© 2010 Sydney Morning Herald
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