Caltex Australia said it dropped plans to buy 302 Mobil petrol stations following a decision by the Australian Competition and Consumer Commission to block the deal on competition grounds. “However, Caltex will continue to explore opportunities to grow its business," the company said. Aaron Patrick

Ports and rail group Asciano said it was cautious about the outlook for the rest of the year after container volumes remained soft in the March quarter but coal haulage rose as expected. Pacific National Coal volumes rose 5 per cent after it ramped up its Queensland presence, while Patrick Container Port volumes fell 12 per cent. Michael Smith