BUSINESS

HDF divests South East Water

Hastings Funds Management Ltd, as responsible entity for the managed investment schemes comprising the Hastings Diversified Utilities Fund (HDF), today announced the execution of a binding agreement to sell its interests in South East Water (SEW) to global asset manager CDPQ.

Equinox declares offer for Citadel unconditional

Copper mining company Equinox Minerals Ltd (ASX: EQN) announced today that it has a relevant interest in Citadel Resource Group Ltd of 56 per cent and that its recommended takeover offer for Australia-based metals and gold mining company Citadel has been declared free of all defeating conditions.

Daily forex forecast - 17/12/2010

Consumer inflation expectations declined to a 4 month low, capping the Australian Dollar at 0.9875 US Dollars during the morning session.
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Sydney metro plan released

Sydney has released its latest Metropolitan Plan that maps out how the city will manage future employment, housing and population needs.

Brockman in advanced talks with Fortescue

Brockman Resources Ltd (ASX: BRM) says it is in advanced negotiations with Fortescue Metals Group Ltd (ASX:FMG) for an end-to-end rail haulage, port access and marketing service for its wholly-owned Marillana Iron Ore Project in Western Australia.

Q3 sees rise in hedge funds launches: HFR

Fueled by the inflow of capital from investors who now appear to have more appetite for riskier assets, Hedge Fund Research, Inc. (HFR) Wednesday reported an increase in the number of hedge fund launches for the third quarter.

Orica reaffirms 2011 profit growth

The world's top explosives maker Orica Ltd (ASX:ORI) has confirmed it expects its profit in fiscal 2011 will rise from a year earlier.

ACS sweetens offer for Leighton's parent Hochtief

Spanish construction company Actividades de Construccion y Servicios (ACS) has raised its takeover bid for Leighton Holdings Ltd's (ASX:LEI) parent Hochtief, a few hours after the German builder recommended that shareholders reject a lower offer.

ACCC approves Virgin, Air NZ alliance

The Australian Competition and Consumer Commission (ACCC) has given the go-ahead for the proposed trans-Tasman alliance between Air New Zealand (NZE:AIR) and Virgin Blue (ASX:VBA).

Daily forex forecast - 16/12/2010

Australian consumer are more upbeat leading into the holiday season with consumer confidence improving for December growing 0.2% from -5.3% last month.

World Market Overview

U.S. stocks fell slightly Wednesday, despite improving U.S. economic data, as investors continued to worry about euro-zone finances.

SITA acquires NSW govt waste firm

SITA Environmental Solutions, a joint venture between France-based Suez Environnement and Singapore's Sembcorp Industries, has acquired the NSW government's waste services firm, WSN Environmental Solutions for $235 million.

U.S. homes attract Australian buyers

More Australians are considering buying homes in the United States as the Australian dollar becomes at par with the U.S. dollar according to real estate executives.

Conquest approves Mt Carlton mine development

Mineral explorer Conquest Mining Ltd (ASX: CQT) has given the formal approval for the development of the Mt Carlton Project in North Queensland following the positive results achieved in the project's optimisation study.

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