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Chanticleer

Yesterday

Coal miner New Hope was seeking $300 million via the sale of convertible notes on Wednesday night.

New Hope makes it two convertibles in two days

It’s good to see the miners creative with their funding structures.

  • Anthony Macdonald
AustralianSuper’s Mark Delaney had to play catch-up in the back half of FY24.

‘If it was normal, I wouldn’t be in a job’: inside AustralianSuper’s year

CIO Mark Delaney realised he was too bearish and had to make an important call over Christmas. By April, it was reversed. Nvidia was at the heart of it.

  • Updated
  • Anthony Macdonald
The active vs passive debate is far from over.

Passive funds changed markets, but Grantham’s GMO says golden rule hasn’t

Active funds managers are worried about the weight of money heading into passive funds. And they should be.

  • Anthony Macdonald

This Month

Bye-bye, banks: Liontown’s wild ride reveals critical minerals truths

The harsh reality of where the ASX’s two biggest sectors – banking and mining – cross over has played out before our eyes.

  • Anthony Macdonald

The underestimated bank boss with the strategic handball

Bendigo and Adelaide Bank’s Marnie Baker was underestimated on arrival. She leaves well regarded, albeit having failed to answer the big structural question over her bank.

  • Anthony Macdonald
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It’s a tough time to be an underperforming company and trying to reignite investor enthusiasm.

Small caps’ wild EOFY ride exposes market’s dirty little secret

Monday’s list of worst performers looked like Friday’s best performers turned upside down. It was laughable. 

  • Anthony Macdonald
Nick Hawkins, IAG’s CEO

Simpler, predictable earnings this year’s equity market story

Fewer shocks and more bankable businesses, that’s what is in fashion with investors this year. The list of companies trying to dish it up is growing.

  • Anthony Macdonald
Cristina Chang is the new head of markets in Australia at Citi.

How new Citi markets boss’s weightlifting makes her fit for a fight

Cristina Chang is just back from Hong Kong after two decades, where she went from youngish Mallesons lawyer to financial hard-head with Olympic-level strength.

  • Anthony Macdonald

June

Federal Treasurer Jim Chalmers has tacked on some binding commitments before approving ANZ’s takeover of Suncorp Bank.

Chalmers turns ANZ’s Suncorp bid into once-in-a-generation deal

When you look at the commitments ANZ is making to buy Suncorp, you have to wonder: if it is competition we’re after, is it competition we’ve got?

  • Updated
  • Anthony Macdonald
The sneaky-good trade this financial year was staring every investor in the face. Few fund managers cashed in.

This year’s winners were hiding in plain sight

Australia’s fund managers were chasing their tails from November when the market started running. Plenty never caught up, and one sector proved most costly.

  • Anthony Macdonald
Ray David, of Blackwattle Investment Partners, says Rio Tinto’s dual-class structure is antiquated.

How a shake-up could unlock $40b for Rio Tinto investors

BHP cleaned up its outdated corporate structure and can now do things like bid for Anglo American. There is pressure building on Rio Tinto to consider doing the same.

  • Anthony Macdonald
Bank of America’s Peter Guenthardt grew up in Switzerland and cut his teeth in equity capital markets. He says investment banking is simple.

The three rules of investment banking

This is perhaps the simplest and best explanation of investment banking we’ve heard in the past decade.

  • Anthony Macdonald
RBA governor Michele Bullock’s job is getting harder.

Why one more rate rise would be extra painful

Central banks don’t go from rate hikes to cuts quickly, so another rate rise on the back of May’s sticky inflation figure, will only help delay the change in direction.

  • Anthony Macdonald
Steve McCann left Crown Resorts in better shape than he found it. Now he is up for a new challenge.

Star pays through the nose for a bit of McCann magic

The gaming group’s new boss held all the cards in negotiating his arrival. Now shareholders need him to negotiate as effectively on their behalf.

  • Anthony Macdonald
Flying Fox Ventures co-founder Kylie Frazer hit us between the eyes at the Entrepreneur Summit on Tuesday.

Start-up founders take us back to basics. It’s refreshing

It’s refreshing to hear from founders and their investors who aren’t tied up in corporate spin. Their stories are about survival.

  • Anthony Macdonald
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Companies are running into strong headwinds ahead of June 30 balance dates, drawing out the downgrades.

Profits finally run over by the interest rates truck

Somehow, corporate profits and margins beat expectations at the February reporting season. A spate of downgrades this week shows cost pressures and softening demand is finally biting.

  • Anthony Macdonald
Employment Hero co-founder Ben Thompson put the big idea out there on Tuesday.

1pc of your super for venture capital? Add it to the list

Everyone wants a piece of the $3.9 trillion super system and now we can add venture capital. The problem is, it is not the government’s money to redirect.

  • Anthony Macdonald
More than 50 per cent of ASX200 companies have factored climate change into short or long-term incentive structures, up from only 10 per cent in FY20.

CEO pay goes green, but details lacking on performance measures

It’s one thing to set CEO remuneration based on climate change goals; it’s another to be able to properly measure them.

  • Anthony Macdonald
Cettire is stuck in a capital markets game.

Cettire’s 50pc crash a story of life in the fast lane

Cettire founder Dean Mintz will push on; that’s what founders do. While he looks at China, the capital markets game rages.

  • Anthony Macdonald
New Myer boss Olivia Wirth has a mandate to move quickly to make changes.

Myer’s new brigade imagines a future with warring Solomon Lew

Myer’s battle with its biggest shareholder hasn’t been good for anyone, so credit to the new brigade for bringing it to a head.

  • Updated
  • Anthony Macdonald

Original URL: https://www.afr.com/chanticleer