Wagering giants, interest rates crush PointsBet’s US business
The ASX-listed betting shop expects to break even following the sale of its US arm to Fanatics for $340m, saying its profitable Australian business will offset losses in Canada.
Companies
AGL charged for ‘failing to stabilise’ energy grid
The charge against AGL for failing to follow orders and deliver market stability is the latest enforcement action by the regulator amid mounting public anger.
New Bubs boss axes ‘made in China’ deal
The infant formula company planned to make products in China for the Chinese market, but has dumped the strategy amid a battle to seize control of the company.
Rival says ASX should pick Nasdaq for CHESS replacement
Cboe said Nasdaq would be a ‘solid’ choice for ASX in replacing its CHESS system while the operator shut down claims it had chosen its provider.
Medibank hit with investor class action over Russian hack
Already faced with a $150m clean-up bill, Medibank is facing a class action from shareholders after last year’s cyber attack hammered its share price by more than 18pc.
Property crunch hits Cbus super returns
The $83bn building industry-backed fund remains committed to office towers as a long-term play in the face of a slump in values.
ACCC concerns over Transurban’s EastLink bid
The ACCC holds fears over Transurban’s entrenched position as the nation’s largest toll road operator, access to traffic data and lower cost finance.
PwC faces partner exodus amid tax crisis
PwC Australia faces the exit of 70 partners from its business this financial year, in addition to the 130 set to move to a new private company, as the firm battles to cut costs in a falling market.
Joe Hockey drawn into Bubs blue over $1.35m bonus
Katrina Rathie claims Bubs’ board did not authorise a $1.35m bonus payment to Joe Hockey’s Bondi Partners after he helped the company successfully launch in the US.
Fanatics lifts Pointsbet offer as DraftKing folds
Sports merchandising giant Fanatics has increased its takeover offer for Pointsbet’s American business by 50 per cent, as shareholders prepare to vote on Friday.
Senex Energy strikes 10-year gas deal for Atlas
Senex has struck its second gas supply deal as it seeks to sway the government to back new developments despite some voter opposition.
Fortescue’s Iron Bridge delivery pushed back
First shipments of concentrate from the mine are now due to be loaded at Port Hedland in July which is slightly later than had been anticipated.
Indigenous group lands $15m in funds
Australia’s only indigenous-led investment fund has brought in a new managing partner as it seeks to back indigenous businesses in the native grain, botanical and food industry.
KPMG appoints ex-Spotless boss as chairman
Martin Sheppard declares KPMG’s new chairman will ‘enable change and uphold confidence’ in the sector as rival firm PwC deals with the fallout of its tax scandal.
CSR’s solution to housing crisis – more land
CSR says the pipeline of new housing remains strong, but developers need access to more land in order to bridge Australia’s housing shortage.
New PwC boss could be hauled before inquiry
PwC Australia’s new chief executive, Kevin Burrowes, could be called to appear before the joint federal parliamentary committee as it deepens its probe into the firm’s tax leak scandal.
No happy ending in the battle for Bubs
Leaked emails and ritzy expenses have intensified the battle to control Bubs, but no firm plan has been put forward to turn around the company’s fortunes.
Silk Laser stock surges as board backs API bid
Wesfarmers-backed API has lifted its takeover bid for Silk Laser to win over board support and further push the conglomerate’s dream to be a major player in the health space.
PwC weighs more sales as Stubbins faces attack
PwC Australia acting CEO Kristin Stubbins is under mounting pressure to swiftly deliver the findings of its internal inquiry into the tax scandal that has engulfed the consultancy firm.
Mighty Craft boss falls on his sword
Mark Haysman has resigned from craft brewing and spirits start-up Mighty Craft a month after two heavyweights joined the board and a strategic review kicked off.
Original URL: https://www.theaustralian.com.au/business/companies/page/193