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News
Whyalla blast furnace restart fails, 600 jobs cut
1+ hour, 21+ min ago (75+ words) AFR Up to 600 workers at the Whyalla steelworks will be made redundant after administrator KordaMentha and the South Australian government decided to abandon attempts to restart the ageing blast furnace. KordaMentha has been operating the Whyalla steelworks since February last…...
Whyalla blast furnace restart fails, more than 500 jobs to be cut
4+ hour, 35+ min ago (93+ words) AFR Up to 600 workers at the Whyalla steelworks will be made redundant after administrators KordaMentha and the South Australian government decided to abandon further attempts to restart the ageing blast furnace, which has not been operating since April. KordaMentha have…...
Mark Cutifani quits Woodside board and joins Northern Star
4+ hour, 56+ min ago (81+ words) AFR Mark Cutifani, a one-time lead candidate to replace Richard Goyder as chairman of Woodside, has quit the board of the country’s largest oil and gas producer. The sudden departure comes just six months after the former Anglo American chief…...
CBA ramps up pressure on regulator over Macquarie capital settings
10+ hour, 54+ min ago (95+ words) AFR Commonwealth Bank is ratcheting up the pressure on financial regulators to rein in Macquarie’s use of a corporate structure it alleges provides an unfair competitive advantage, after commissioning economic analysis to show how the arrangement supports Macquarie’s rapid growth…...
CBA commissions economic analysis to challenge Macquarie’s corporate structure and regulatory capital settings
14+ hour, 54+ min ago (107+ words) CBA ramps ups pressure on regulator over Macquarie capital settings AFR Commonwealth Bank is ratcheting up the pressure on financial regulators to rein in Macquarie’s use of a corporate structure it alleges provides an unfair competitive advantage, after commissioning economic…...
RBA board ‘split’ on rate decisions at one in three meetings
10+ hour, 44+ min ago (85+ words) AFR Recently departed Reserve Bank board member Ian Harper has revealed that nearly one-third of monetary policy decisions over the past decade were split votes, challenging long-held assumptions of central bank unanimity. Harper said there was “very vigorous” debate among…...
Seven steps can help Australia boom again. But we must choose growth
10+ hour, 48+ min ago (83+ words) afr.com Consulting giant McKinsey says Australia’s economy can be three times bigger by 2100 with seven smart steps. But to get there, we need to make a deliberate tilt towards growth. The Macquarie Group chief executive, who will retire in…...
Ashurst Perkins Coie swoops on Freehills M&A star
1+ day, 13+ min ago (110+ words) AFR Ashurst Perkins Coie has plucked seasoned corporate lawyer Ben Plotnik from rival Herbert Smith Freehills Kramer as the former seeks to expand its global private capital team following a high-profile transatlantic merger. Freehills’ special counsel Ben Plotnik is heading…...
Why Australia’s top fundies have gone all Ted Lasso
22+ hour, 19+ min ago (95+ words) AFR Stock pickers must keep believing that the forces reshaping the ASX and smashing their performance are going to turn, eventually. TV’s most famous coach, Ted Lasso, had a sign that simply said “Believe” in his change rooms. Maybe it’s…...
Equity Trustees broke its own rules on problematic First Guardian fund
3+ day, 23+ hour ago (92+ words) AFR ASX-listed Equity Trustees incorrectly categorised the First Guardian scheme, leading the firm to make it available for investment on its wealth management platform, without board approval, and in breach of its rules for managed funds with high exposure to…...