James Packer’s CPH slumps to $400m loss
The private Consolidated Press Holdings had $600m wiped from its assets as Crown struggled during COVID-19 and cancelled its dividend.
Victoria Business
SPC revamp after $100m raising
The century-old Victorian fruit and vegetable processor SPC has launched a new corporate brand as it wraps up a $100m capital raising.
$1m coal power station yields $62m dividend
Power barons Trevor St Baker and Brian Flannery have reaped a bumper $62m dividend from the NSW coal plant they bought for $1m.
Santos commits to zero target by 2040
Santos has committed to net zero emissions by 2040 in a move that may hike pressure on its Australian oil and gas rivals.
Kathmandu CEO quits to head Austrade
Xavier Simonet will stay on at the adventure retailer while it looks for a new CEO, before taking up the senior public service job.
JobKeeper sets economy up for blast-off
Australia conquered the coronavirus, kept the economy ticking over and is kicking into 2021 in far, far better shape than just about everyone else.
The shops moving into DJs menswear store
The Bourke St building will undergo a transformation when David Jones moves its menswear store across the road, its new owners say.
Why dipping into super to buy a home should be allowed
Many have conerns about people dipping into their super to pay for their first home, but there are some good reasons why we should allow it.
Banks teaching kids money is like Maccas teaching about diet
For far too long schools have outsourced the teaching of essential financial life skills to banks who have used it as an advertising play. But that stops now and the real education begins.
How to spot a dodgy investment
A guaranteed 8 per cent return on a $10,000 investment sounds like a dream come true, but in reality it could cause you one hell of a financial hangover. Here’s how to spot a fake.
We’ll ride it out, banks tell Melbourne Airport
Melbourne Airport has won a crucial vote of confidence from its lenders following a bruising year for Victoria’s key aviation hub in the fallout from the coronavirus pandemic.
How Black Friday sales will save struggling retail sector
Black Friday and Cyber Monday have exploded in Australia. And this year’s pre-Christmas spending frenzy is particularly significant for retailers.
Bega buys a future for all of us
Buying Lion Dairy and Drinks was literally make or break for Bega Cheese. Now, Barry Irvin must ensure it’s the making of the company.
A market boom made by central banks
Sure as day follows night, share and property prices keep rising. But are we all being led up the garden path, asks Terry McCrann.
The big risk with Victoria’s record spending
Who knew you could ring up a net debt of $155bn and people would barely blink an eye, writes Terry McCrann.
Telstra maps out plan to sell renewable electricity
Telstra can offer a phone and internet service, so why not electricity? Chief Andy Penn says the telco is working on a renewable energy offer.
Skyrocketing debt is free for now
It makes sense for governments to borrow big, but they should move to lock in interest rates, writes Terry McCrann.
Thurley label the latest victim of pandemic
The celebrity favourite designer label announced it has ceased trading, shutting its Armadale boutique and online boutique.
The safe move that will prevent you from being sorry
Keeping your family’s finances safe could be as easy as a trip to Bunnings, saving time and heartache when life goes astray, writes the Barefoot Investor.
Australia Post’s Christmas parcel cut-off dates
A record number of parcels are expected to be delivered this Christmas. Here are the dates you need to know to ensure your goods arrive on time.
What happens when JobKeeper runs out?
JobKeeper has kept workers in their jobs and boosted the broader economy. But what happens when it stops, asks Terry McCrann.
Superannuation surplus is too much
Will an increased “superannuation guarantee” cost jobs? Or would a failure to increase it cost jobs and wages, asks Terry McCrann.
Cost of COVID: What you’re paying more and less for
The coronavirus recession has kept inflation extremely low, but a surprising number of household costs have climbed. See the list and how you can reset your budget.
Mortgage wars: How to get a better rate on your loan
The RBA has announced a record low rate cut that is expected to stick around, which means it’s the perfect time to shoot for a better rate on your loan, writes Barefoot Investor. Here’s how.
Small businesses fear going broke after Grocon collapse
Fears are growing that the collapse of the Grocon empire could cause small companies — who have provided work and services to the construction giant — to go broke after not being paid.
Why Myer must have its King to rule
Shareholders in the Myer department store group should be asking if this is really be a good time to be throwing the whole management and leadership of the battered company into chaos by voting to sack the chairman, asks Terry McCrann.
Victoria is the dead-weight state for recovery
Victoria is dragging down the rest of the country’s jobs recovery from the pandemic. But when we are back on track Australia can’t return to the old way of doing things, writes Terry McCrann.
Nation’s biggest bosses demand Andrews open Victoria
The heads of seven of Australia’s biggest businesses have written an open letter to Daniel Andrews, saying there is an urgent need to “kickstart the economy” and demanding Victorians be allowed back to work before the state suffers a major brain drain.
Fashion chain H&M launches online store
Popular clothing chain H&M has finally launched an online store, seven years after opening its first brick and mortar shop in Melbourne, presenting another challenge to traditional Australian retailers.
Austrac follows the money in Crown Resorts probe
The nation’s financial crimes watchdog has worked out where the money is. But AUSTRAC’s case against Crown Resorts is unlikely to generate CBA or Westpac type fines, write Terry McCrann.
Don’t get distracted by losing interest
Interest rates may be eye-wateringly low, and they may get even lower. But the safety of a boring savings account is important in these times of uncertainty, and is better than the alternatives, writes the Barefoot Investor.
RBA governor’s message for Frydenberg
Philip Lowe’s announcement about interest rates was not only bad news for savers, but unintentionally sent a strong message to federal treasurer Josh Frydenberg, writes Terry McCrann.
The change coming to your supermarket
Australian supermarkets will change significantly in years to come, with space taken away from one group of products to make way for another, the boss of Woolies says. Here’s what to expect.
The gourmet food trail putting Timboon on the map
Despite Timboon’s small population, tourism is booming thanks to the rising popularity of the town’s gourmet ice cream shop, distillery and expanding food scene.
Pressure on Andrews as JobSeeker end in sight
The race is on, with the JobKeeper end date rapidly approaching yet no end to lockdown in sight. Unless Daniel Andrews loosens his stranglehold on the economy, more Victorians will become officially unemployed, writes Terry McCrann.
Virgin’s tough new pilot
The honeymoon is over for Virgin and its new buyer, with the harsh reality of its new union setting in and some tough decisions looming in the near future, writes Terry McCrann.
Why Christmas is set to break records for Coles this year
Coles is gearing up for a record-breaking holiday season with close to 1 million extra people expected to eat Christmas lunch at home this year.
Premiers take note: Aussies busting to go
Josh Frydenberg’s industrial strength hosing of money to just about everyone in the budget has raised consumer confidence in Australia, and yes, even in Melbourne, writes Terry McCrann.
Understanding our big China game
When China makes decision that affect us, all sorts of games could be in play that have absolutely nothing to do specifically with Australia; then again, they could be very precisely aimed at us, writes Terry McCrann.
Just another opening gambit
The $2.8bn bid for the Link investment services group is an entirely opportunistic and completely predictable undervalue opening gambit by the always avaricious private equity bottom feeders, writes Terry McCrann.
Frydenberg’s ‘dangerous’ budget proves fiscal restraint abandoned
Anthony Albanese’s team must have been burning the midnight oil – or running those Labor Party windmills at warp-speed – to find something that Frydenberg missed in the budget, because our treasurer sure spent money like there was no tomorrow.
Palm scanner payments cool, but is your privacy at risk?
COVID-19 has sped up the inevitable death of old-school, analogue cash and coins but while technology is rolling on, we still need to balance our privacy against our payments, writes the Barefoot Investor.
What small businesses need to do to open after lockdown
Struggling small businesses are desperate to open their doors soon. But what preparations are needed to survive and thrive in a COVID-normal environment?
How Richmond sandwich shop became a cult favourite
Hector’s Deli in Richmond has become one of Melbourne’s most sought-after sandwich shops — but it was only ever meant to be a temporary business. Here’s how that changed.
Crown asked to show why it shouldn’t be disciplined over junkets
The state’s gaming regulator has hit Crown Resorts with a ‘show cause’ notice, asking the company to explain why it shouldn’t be disciplined after the damning findings of a probe were revealed.
Barefoot Investor: You should save, whatever the Treasurer says
The Government may be encouraging us to spend up and spend big in the 2020 budget, but Australians wanting to get ahead in the long-term should do the exact opposite, writes Scott Pape.
Packer and Crown’s long-awaited divorce now inevitable
After an appearance at the NSW probity inquiry, it’s now finally clear James Packer and the Crown casino group’s relationship is locked into a journey that has only one destination — total and irreversible divorce, writes Terry McCrann.
Woolies: all systems go
Woolworths is hailing its latest online shopping initiative – to be launched in Melbourne – as a potential game changer. Here is what is happening.
Woolworths flicks switch on online shopping ‘game changer’
Woolworths is hailing its latest online shopping initiative – to be launched in Melbourne – as a potential game changer. Here is what is happening.
Budget surpluses have gone forever
No government (or opposition) will ever again be able to claim they will deliver a surplus without the risk of being laughed into utter ridiculousness, writes Terry McCrann.
Original URL: https://www.couriermail.com.au/business/victoria-business/page/73