Loyalty tax bites as banks race to sign new customers
Banks have been hitting mortgage customers with the full force of multiple rate hikes, while offering discounts to sign up new customers.
Companies
Fonterra axes $1.2bn Australian business float
The dairy giant was looking to spin off its Australian business to differentiate its main New Zealand business ‘on the world stage’.
Forum’s Bill Papas pulls soccer team amid financial woes
Alleged Forum Finance fraudster Bill Papas has dramatically pulled his football team from Greek sporting leagues, after financial and cash flow issues.
Aussies indulge in retail therapy
The Reserve Bank’s five consecutive rate hikes since May have yet to lay a glove on consumers’ eagerness to spend on apparel, jewellery, travel and electronics.
More hikes before Christmas: US Fed
US central bank chairman Jerome Powell has signalled more rate rises by Christmas and beyond – after his third 0.75 per cent increase – and says the chances of a ‘soft landing’ for the economy are receding.
Socceroos score record Subway deal
The national men’s soccer team has clinched the biggest commercial deal in the code’s history, and the game’s governing body is also cashing in on interest in the Matildas.
S.Korean investors unite for $20bn hydrogen project
Big South Korean investors have teamed up for a potential $20bn Queensland play focused on green hydrogen and renewables.
Why this brick maker will rise and fall on property
This high-profile building supplies giant is evolving right in front of us but there’s one thing that could stand in its way.
Cashed-up Soul Patts looks to ‘buy the dips’
The group will use booming profits from its 39 per cent stake in New Hope Coal and its $10bn investment portfolio to reward shareholders with a special dividend.
Link sinks on bigger UK roadblock to D&D deal
The superannuation services provider’s UK business is facing an additional $85m penalty – on top of a $519m redress payout that has already watered down Canadian suitor Dye & Durham’s bid.
Brickworks boss warns of hit from net zero aim
Brickworks boss Lindsay Partridge fears jobs, lives and businesses will be ‘trashed’ by the government forcing through unrealistic net zero emissions targets.
Viva Energy snaps up Coles Express
The deal, covering more than 600 sites, will make Viva Energy Australia’s largest fuel and convenience operator.
New chapter: Booktopia’s Nash wins boardroom control
The four independent directors of the online book retailer have decided to resign following a battle with the company’s founder, former CEO and major shareholder Tony Nash.
Reclusive billionaire’s giant comeback
He turned TPG into a telco powerhouse. Now entrepreneur David Teoh is on another mission that will make his rivals flinch.
Hancock tops private biz list as young gun catches up
Virtual Gaming Worlds was only established 12 years ago, but is now the sixth-biggest private company in Australia, ahead of big names like Linfox, Chemist Warehouse and Spotlight. See the list.
ACCC launches major ‘greenwashing’ crackdown
Businesses making false environmental claims to lure earth-conscious consumers are in the watchdog’s sights after a spike in complaints.
Founders of 1414 Degrees unite to call for director’s head
The boardroom ructions at 1414 Degrees continue with another group of shareholders emerging in a bid to have a director removed from the board.
Gaming exec snaps up Tabcorp’s eBet
Former Tabcorp executive Frank Makryllos will buy its mobile gaming business, following the parent group’s strategic review.
Kathmandu, Rip Curl sales soar as profit slumps 40pc
Adventure retailers Kathmandu and Rip Curl are still wearing the bruises of Covid-19 despite easing restrictions delivering a bumper sales boost to the brands.
Cruising into a record peak
After North Americans, Australian cruisers have overtaken the rest of the world as the second highest demographic of guests on Oceania Cruises’ ultra-luxury ships.
Why Origin really walked away from a gas payday
There are bigger forces at play as the energy giant exits one of the world’s biggest untapped shale projects.
Micro-X shares surge on deal with Nasdaq-listed Varex
Micro-X shares surged by more than a third after a deal with US-based imaging firm Varex was announced.
Link rejects Dye & Durham’s new low bid
The superannuation services provider’s Canadian buyer cut its upfront cash offer and added conditions after saying it is unlikely to accept a UK regulatory demand to cover potential redress payouts.
Train your own: Sigma’s solution to labour shortage
From executives to forklift drivers, there is only one way to fix the economy-wide labour shortage: train your existing staff. That’s the assessment of Sigma boss Vikesh Ramsunder.
Potential EY split a significant change for professional services
Partners in Ernst & Young firms in about 150 countries are to vote on whether to split into separate audit and consulting entities.
How casinos gambled with integrity and lost
Cracks started showing almost immediately at The Star after a $300K party to relaunch the once-seedy casino. What went wrong with it and rival Crown?
Sports ‘dropping the ball’ on private equity cash
Investors say local sports fans are being let down by a cultural conservatism that is allowing valuable opportunities to slip by.
‘We’re running like crazy to deliver Twiggy’s green vision’
Andy Vesey is just four months into his role spearheading Andrew Forrest’s global bet on green hydrogen. He admits the pace has been frenetic.
QBE, ASIC’s seven months of emails before $109m slug
A freedom of information request reveals QBE and ASIC exchanged emails over a seven-month period leading up to the insurer recording a $US75m ($109.6m) hit for pricing failures.
AGL must go green, urges its former chief
AGL Energy may name an interim chief executive to quell investor disquiet, however former boss Andy Vesey says the power giant must embrace a switch to clean energy.
Original URL: https://www.theaustralian.com.au/business/companies/page/200