‘Profit motive drives Optiver problems’, says founder
Optiver Australia’s founder and long-time boss Rob Keldoulis said staff are too often seen as ‘expendable inputs’ in high-pressure trading businesses.
Companies
InvoCare directors back new TPG bid
The once withdrawn takeover bid for funeral play InvoCare from TPG looks to have risen from the dead with a new, higher offer winning over conditional board support.
High standards: How far will Ziggy’s review of PwC go?
Senators are pushing for a public investigation of PwC Australia’s tax leak scandal, questioning if promises of a ‘robust’ review by corporate veteran Ziggy Switkowski will be enough.
Copper is becoming the new gold standard
It was Newcrest’s copper-rich gold mines that gave it the extra shine as the US mining giant Newmont circled.
Elders warns of full-year earnings drop, cuts dividend
The agribusiness giant is yet to find a successor to CEO Mark Allison, six months after flagging his retirement. Its shares dived 13 per cent.
PointsBet could sell Australian arm next
A $222m sale of the US business to Fanatics will bring a large cash return to shareholders and marks the end of its ambitious US expansion.
Aristocrat in online gaming push with NeoGames buy
The ASX-listed poker machine company is pivoting to become an online gaming giant, agreeing to buy NeoGames for $1.8bn.
Biotech secures $18m from US health giant
A Melbourne start-up has won funding from a specialist investor to harness AI in eye treatments to better predict blindness, heart attacks and strokes.
Apricity boss a ‘man of straw’: no assets but $50m debt
Creditors of Apricity Finance Group expressed disbelief that $50m in investors’ funds has disappeared and questioned whether they had been caught up in a Ponzi scheme.
EV truck revolution will be a long time coming
The Ampol boss reckons the challenging economics of the EV shift means miners will need to find other answers to power big trucks
PointsBet on verge of clinching US sale to Fanatics
The move would see PointsBet’s American business sold to a sports merchandising giant, leaving shareholders with its Australian and Canadian betting businesses.
QBE faces soaring catastrophe costs
QBE says its combined operating ratio will worsen after a large number of claims from New Zealand and the United States were lodged in recent months.
Macquarie denies traders rigged gas prices in Texas
Australian investment powerhouse Macquarie Group is fighting a lawsuit brought by the Texas Attorney-General that it manipulated the gas market in the US.
Bumps in the ride slow Ardent recovery
Theme park operator Ardent Leisure’s recovery from a disastrous period continues but it warns of the effect of economic headwinds.
Senior China staff sacked as Bubs cull widens
Bubs was the toast of the Oval Office last May, adding $130m of market value in a month. As its fortunes unravelled, China became the sore point.
Expect tough slog for tradies, says Sydney Tools boss
The Bey brothers run a $700m business that is a consumer barometer and it shows tradies are hurting and the economic outlook is uncertain.
End of the road for major mortgage perk
Intense home loan competition is cooling with major bank NAB following lender CBA’s lead in doing away with cashback offers to lure new customers.
Nation at risk of more rate hikes, Soul Patts chair warns
Australia is at risk of seeing interest rates as high as 5 or 6 per cent if inflation is not brought down, says Washington H. Soul Pattinson chair Robert Millner.
Allkem merger raises stakes in lithium race
Shares in Australian lithium producers and hopefuls jumped on Thursday over expectations the wave of consolidation in the sector would continue.
Healius looks to South Africa to strengthen executive
Maxine Jaquet has refreshed her leadership team with a new pathology boss who more than doubled the size of South Africa’s AMPATH.
Original URL: https://www.theaustralian.com.au/business/companies/page/198