Inner Mongolia Xingye Silver & Tin Mining (SHE:000426) said its Hong Kong subsidiary has launched a voluntary full takeover offer for ASX-listed Far East Gold (ASX:FEG).
The offer price of AU$0.13 per share represents a total consideration of AU$38 million, according to a Thursday filing with the Shenzhen bourse.
Far East Gold holds six exploration-stage mining projects across Indonesia and Australia.
Shares of the mining company were down 4% in recent trade.
Shandong Linglong Tyre (SHA:601966) agreed to terminate its partnership with Sunset S.A. Comercial Industrial Y De Servicios for the construction of two projects in Brazil, according to a Shanghai bourse filing on Thursday.Both parties failed to reach an agreement on key terms, such as equity ownership ratios and cooperation conditions.The projects were supposedly the construction of a 35-megawatt photovoltaic power station and a tire factory that would have manufactured 14.7 million redial tires annually.The Chinese tire manufacturer's shares fell by less than 2% during the afternoon trade.
Endeavour Group (ASX:EDV) is facing structural headwinds to alcohol consumption, alongside a challenging consumer spending environment, which explains why management has not provided explicit earnings growth targets, according to a Thursday Jefferies note.Excess inventory is expected to support stock-related profits in fiscal year 2027, and there could also be upside if Coles Group (ASX:COL) exits the large-format liquor retail segment, the note added.Jefferies said that regulatory risk related to gaming operations remains an ongoing concern, and although the valuation appears depressed, the pathway to growing gross profit faster than costs remains unclear.Jefferies kept a hold rating on Endeavour and decreased its price target to AU$3.20 from AU$3.50.
Recent data on employment and unemployment have been soft, but hours worked show a more resilient picture, Westpac said in a note on Thursday.The growth in hours worked jumped to 2.5% on an annual basis, while employment growth is running at 1.5%, the bank noted.Typically, hours worked move before employment, both when demand for labor is strengthening or weakening. Households seek to offset weaker real incomes by increasing hours, participation, or taking on secondary employment.While the current inflation episode is expected to be less severe than 2022-24, in level terms, real per capita household disposable income is still noticeably below the pre-pandemic trend.At the current early stage of the inflation pulse, workers are seeking more hours to buffer against cost-of-living pressures, and employers may have some capacity to offer those hours. But the bank cautioned that employers may start to pull back on average hours, as the shock continues to materialize and consumer demand weakens.