1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Oil stocks were in focus today after the US captured Venezuela's President Nicolas Maduro, which has sparked deep uncertainty about the future of the oil-rich South American nation. Maduro is in a New York detention centre awaiting a court appearance tonight on drug charges. US President Donald Trump ordered his seizure from Venezuela over the weekend and said the US would take control of the country.
The competition watchdog has forced software firm WiseTech (ASX:WTC) to sell a company it acquired as part of its $3.2 billion buyout of e2open. The ACCC says it was concerned the deal would lead to higher prices and worse service for customers. WiseTech has agreed to sell Expedient Software, which was a competitor to the firm's Cargo Wise platform. The ACCC says it received significant concerns from users of logistics software.
The Australian Agricultural Company (ASX: AAC) has warned that heavy rain across parts of Queensland may hurt its earnings after flooding hit three of its cattle stations. AACo says the three stations hold 55,000 cattle, which is significantly lower than the number of livestock held in the same region during the devastating 2019 floods. The company says its too early to determine the full extent of the losses but they are likely to be material. It says it does not hold insurance for its herd and infrastructure against flooding events.
Coronado Global Resources (ASX: CRN) has suspended underground operations at its Mammoth Coal mine in Queensland following the death of a worker. An investigation into the cause of the incident is underway. The underground section of the mine remains closed, but open cut mining at the site resumed over the weekend after a 24-hour shutdown.
CivMec (ASX: CVL) has been awarded $400-million worth of new contracts and extensions. The contracts include a port debottlenecking project with BHP at Nelson Point in Port Hedland. It has also been awarded a construction contract at two Fortescue mines in the Pilbara for multiple charger facilities.
