Today's business headlines - updated

THE WEST AUSTRALIAN (BUSINESS NEWS HEADLINES)

Mitsubishi poised on bigger Mid-West role

Mid-West iron ore miner Murchison Metals is today expected to confirm Japanese industrial giant Mitsubishi Corporation has agreed to take a strategic stake in the company as it steps up efforts to expand its Jack Hills operation.

Travelshop collapse sparks legal probe

The administrators of Joe Ferrone's collapsed Travelshop chain plan to seek litigation after identifying potential legal actions over the group's $10 million collapse, according to a report to creditors.

Mercator drops Gleneagle plan

London-listed Meekatharra gold miner Mercator Gold has pulled out of the race for the assets of collased miner Gleneagle Gold as about 20 other groups continue working on due diligence ahead fo fomal bis closing next week.

THE WEST AUSTRALIAN (GENERAL NEWS HEADLINES)

Ord sugar rescue in limbo as State waits

A plan to save the Ord sugar cane industry by using taxpayer funds to help buy WA's only sugar mill has been thrown into chaos after the State Government last night claimed a revised bail-out package would not go ahead because the original plan has not been formally rejected by the factory's Korean owner.

Pipeline chief warns on gas supply restrictions

The State and Federal governments must reconsider the current system of granting retention leases over gas reserves for five years if WA is to overcome critical shortages, the chairman of the WA Domestic Gas Alliance, Stuart Hohnen, said yesterday.

More students study from afar

The number of State school students forced to study subjects by long-distance correspondence has more than doubled since last year, Education Department figures reveal.