This Month
Australia will avoid a recession, says NAB CEO
Chief executive officer Ross McEwan says Australia’s economy is well positioned even if “it will continue to feel harder for some time”.
- Lucas Baird
Westpac boss to fly to Tiwi Islands to discuss Santos project
After a four-hour AGM in Brisbane, Peter King has committed to visiting the Tiwi following concerns about consultation on Santos’ Barossa project.
- James Eyers
Banker bonuses favouring opaque social metrics, advisers say
Incentives at the major banks are becoming less focused on maximising shareholder returns in a ‘retrograde step’, Institutional Shareholder Services warns.
- Lucas Baird
- Updated
- Bank of Queensland
Late, overloaded board papers blindsided directors: BoQ chair
Shareholders delivered a stinging rebuke to Bank of Queensland after risk failures triggered two regulatory actions this year.
- Liam Walsh
Lew’s Premier Investments posts record Black Friday sales
The billionaire told Premier’s AGM a review into a possible demerger confirmed “significant” future growth options available to each of its brands.
- Carrie LaFrenz
November
- Updated
- Retail
Harvey Norman gets Black Friday boost, but sales are still heading south
Sales at the retailer’s Australian franchise stores tumbled 11.9 per cent since the start of July, even with a bump in trade from the annual discounting event.
- Updated
- Carrie LaFrenz
‘Not easy ride’: private equity’s Simon Moore leaves AMA
The upcoming departure means all of AMA’s pre-pandemic board will have left. Mr Moore says he is confident in the outlook.
- Liam Walsh
Wylie’s Tanarra circulates Healius attack letter as shares slide
The valuation of the pathology group crashed following a rights issue at a hefty discount to reduce debt levels and relieve pressure from lenders.
- Simon Evans
Brett Blundy defends CEO’s $30m pay as Lovisa gets third strike
The jeweller’s billionaire chairman vowed not to cut the chief executive’s pay. It reported a 6.2 per cent drop in sales in the first 20 weeks of the year.
- Carrie LaFrenz and Ayesha de Kretser
- Opinion
- Energy transition
Going green the Fortescue way
Fortescue’s AGM showcased Andrew Forrest’s determination to lead the green energy transition, even if that makes some investors nervous about costs and priorities.
- Jennifer Hewett
Grant Fenn should be accountable for Downer woes, proxy groups say
Downer EDI is poised to cop a protest vote against exec pay at this week’s AGM after advisers queried share rights awarded to its former CEO.
- Jenny Wiggins
Lendlease says protest vote is about share price; investors disagree
The ASX-listed property giant has faced huge opposition to its remuneration report and the re-election of two directors, but is sticking to its turnaround plan.
- Michael Bleby
Accent shares tumble 10pc as wholesale sales dry up
The name behind Hype, Platypus and Hoka shoe chains says wholesale sales are under pressure, reflecting softer consumer demand.
- Carrie LaFrenz
A2 Milk boss says China formula market in steep decline
David Bortolussi says the fresh milk and formula company expects low, single-digit revenue growth in 2024 and flat profit margins.
- Updated
- Carrie LaFrenz
Big four chart separate paths on customers’ transition plans
The banks have tightened energy sector lending polices in new documents accompanying their annual results. But there are many discrepancies.
- James Eyers
King is the ‘minister for higher airfares’: Flight Centre boss
The travel industry is still stinging about a decision to block additional flights from Qatar Airways, which was seen as a boost to Qantas.
- Liam Walsh
Myer CEO predicts Black Friday to beat Christmas
First-quarter same-store sales fell 0.9 per cent, but the trend in the last seven weeks improved as the retailer heads into its key trading period.
- Carrie LaFrenz
Solomon Lew raises concerns too many Myer executives are quitting
The billionaire retailer is the department store’s largest shareholder and has urged it to provide a market update at its annual meeting on Thursday.
- Carrie LaFrenz
Magellan vulnerable to takeover as board hit with first strike
The company’s chairman, Andrew Formica, says the fund manager’s balance sheet is its strength. Shareholders say that makes it susceptible to a cheap takeover.
- Jonathan Shapiro
Todd Sampson survives Qantas investor anger, but for how long?
The former advertising executive said his experience would help repair the airline’s damaged brand and reputation.
- Ayesha de Kretser
