AFN Highlights for Monday, April 15

Freedom

Embattled insurance business Freedom Insurance Group is selling its policy administration business to an undisclosed service provider for $5 million, and was looking to exit all of its operating businesses after completion of the deal.

Funtastic

Struggling toy wholesaler Funtastic has announced Britax Childcare managing director David Jackson as its new chief executive as it seeks to turn its fortunes around.

Rio Tinto

Rio Tinto will invest an extra $US302 million to develop its Resolution copper project in the US state of Arizona, as it looks to expands output to meet the lucrative market for new energy vehicles.

AuMake

Shares in daigou-focused retailer AuMake have been placed in a trading halt pending an announcement on an acquisition and related capital-raising.

Auctions

Property auctions increased over the weekend heading into the Easter slowdown, but they remain significantly below this time last year.

Wages

Australian businesses would suffer and some would cut workers if the minimum wage was increased by the six per cent unions want, a business group has warned.

Aeris Resources

Aeris Resources says it hasn’t been able to reach agreement with Glencore on the CSA copper mine, which it had sought to buy for $801 million.

Palmer

Clive Palmer says he will cover outstanding entitlements for workers sacked from his Townsville nickel refinery while simultaneously saying he didn’t sack them.

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