Platinum turns down Regal takeover bid
A combined operation would have $29bn in funds under management, but Platinum says Regal’s offer undervalues its business.
Breaking News
Israeli investment platform eToro acquires Spaceship for $80m
Trading platform eToro is going after a slice of the Australian superannuation market, acquiring a Mike Cannon-Brookes-backed super play in a deal worth up to $80m.
Qantas admits it knew about ghost flights
In a statement of facts revealed by the ACCC over the Qantas ghost flight scandal, the airline admits senior executives knew it was selling cancelled flights.
AFL heads for $1.25bn income bonanza
The league is in rude health financially, and chief executive Andrew Dillon has a series of strategies to keep the AFL growing – while dealing with player safety and other significant challenges
Don’t support external candidates, ASX tells shareholders
The ASX says a former APRA chair and a business veteran are the best options for the market operator’s board vacancies despite two former executives seeking a seat at the table.
Stockland wins approval to buy $1.3bn housing estate portfolio
The competition regulator has approved the deal on the proviso that a key NSW housing estate is sold off to address its concerns.
Gas and mining executive suing Newmont over safety concerns
Allegations gold miner Newmont did not take site safety concerns seriously have been levelled by one of the company’s former executives.
Brickworks calls for more land releases
Some of the lowest levels of building activity in decades has pushed Brickworks to a $118.9m loss — although the company still managed to up its dividend.
Qantas strikes may hit AFL grand final travel plans
Ticket holders trying to make the AFL grand final in Melbourne on Saturday are being warned by unions their flights might be affected by strike action by Qantas engineers.
Foodie group The Essential Ingredient collapses
Administrators have been brought in to restructure and prepare a sale process at one of the nation’s best recognised foodie and cooking equipment sellers, The Essential Ingredient.
SA Premier keeping close eye on Whyalla steelworks
South Australia’s Cabinet will travel to Whyalla to canvass community concerns around GFG Alliance’s beleaguered steelworks, which the Premier says can’t be allowed to fail.
Let’s make a deal: Platinum issues three tests for Regal
Phil King’s Regal Partners could be closer to grabbing the elusive fund manager Platinum than he realises.
Watchdog eyes financial advisers sending jobs offshore
Big business has long embraced sending jobs overseas but another, much smaller segment of the market is following the trend – and regulators are watching.
Financial stress could be ‘magnified’, RBA warns
The RBA says financial stress would be magnified if economic conditions deteriorate further than anticipated and inflation and interest rates were to stay high for longer than expected.
Tax breaks needed to drive mine electrification, industry says
Tax incentives are needed to drive the electrification of Australia’s mining fleet, a high level consortium of resources companies says, while emissions targets will remain out of reach in their absence.
Alinta wins licence to build offshore wind project for Alcoa’s smelter
The project would underpin the future of the Portland aluminium smelter, which is a major employer and a larger user of electricity.
Off the table: Qld says tax relief unlikely for troubled Star
Star Entertainment has secured a $200m rescue package, but doubts linger about the troubled casino operator’s future as Miles threatens to walk away from promised tax relief.
RBA no longer considering rate rises ‘due to the optics’
As other nations slash their interest rates and politicians demand cuts in Australia the RBA board has for the first time since March not considered the case for a rise.
Business stars shaping our future
The winners of the 2024 Lord Mayor’s Business Awards will be revealed on October 25 with the property sector having a larger than usual representation. See who the 44 nominees are.
Qantas strikes start today as CEO works to fix bruised brand
Engineering staff at Qantas will strike on Thursday as Vanessa Hudson juggles repairing the airline’s brand while keeping costs down.
City club set to focus on deals
A new business club backed by financier Mark Bouris, which already has successful venues in Sydney and Melbourne, has opened in the Brisbane CBD.
Metricon keeps crown as biggest residential builder
Australia’s largest residential builder, Metricon Homes, has been named Australia busiest builder for the ninth consecutive time as the sector shows signs of recovery.
Secret Helfie AI investor documents reveals huge revenue, profit claims
The group, which claims to be Australia’s latest billion dollar tech unicorn, has told potential investors it would be among the country’s most profitable private companies in two years.
‘Stop bagging the RBA’, says Premier boss
Billionaire Solomon Lew, a former RBA board member, has warned the Albanese government to stop bagging the RBA over interest rates and do the heavy lifting itself by beating down inflation.
Greens stance on RBA unfortunate, says Philip Lowe
Former Reserve Bank governor Philip Lowe is disappointed with a Greens’ proposal to undermine the central bank’s independence.
How this Melbourne start-up is saving cafes $8000 a week
Smashed avocado has been blamed for keeping millennials out of the housing market, given their taste for the popular brunch dish is difficult to give up. But it can also prove costly to cafe owners as well.
‘Nightmare’: Obstacle Aussie businesses hate
A high-profile Aussie businessman has backed a state premier, saying he is working hard to reduce every business’s worst “nightmare”.
Push to take cruising abroad amid rising local port costs
Aussies are being urged to consider cruising further afield amid rising port costs, particularly in Sydney, as Norwegian Cruise Line supercharges its fleet.
Webjet ‘full of potential and free to fly’
The boss of the newly split Webjet says the company has control of its destiny for the first time in several years as it looks to take advantage of cheaper airfares.
Would-be cattle baron Sam Mitchell slides into bankruptcy
One of Australia’s hottest agricultural deal-makers faces a showdown with lenders over his collapsed carbon project.
RAA energy offer to save consumers hundreds
RAA is weeks away from releasing energy plans it says will save members hundreds of dollars, while the organisation itself delivered a profit for the first time in three years.
Tech’s ‘toddler problem’ amid regulatory wrestle
Big tech has promoted privileged and ‘quirky’ employee perks for years, but there’s cause for concern in indulging childlike behaviour says prominent commentator Kara Swisher.
‘Fake discounts’ a serious test of trust for Coles, Woolies
The ACCC’s claims are as damaging as they can get. But the regulator needs to be careful not to buy into the emotion around price gouging.
Why rewards credit cards are losing their shine
Frequent flyers and others who use credit card reward points now must spend more bucks for the same bang, research has found.
ACCC fired up for epic battle with supermarkets
The competition regulator is pursuing Coles and Woolworths over misleading discounts, with the ACCC chief saying the issue is as important as the so-called Qantas ghost flights case.
Fletcher faces tough road back after rescue raising
The embattled Fletcher Building has won the support of its major shareholder after launching a dramatic $NZ700m equity raising, but the company faces a long path to recovery.
European car industry in uncharted territory
From January 1, 2025, new rules will come into effect that will require European car manufacturers to reduce the CO2 intensity on their range of models.
‘Political will’ needed to get crypto off ground
Australia is witnessing some green shoots in its development of cryptocurrencies and blockchain, but an upcoming election could halt its progress, a conference has been warned.
Rhonda Triguboff, 76, dies after long illness
Rhonda Triguboff, the wife of property magnate Harry Triguboff, passed away peacefully on Sunday night at her Vaucluse mansion in Sydney’s eastern suburbs surrounded by her family.
Woolworths, Coles sued by ACCC over misleading price drop claims
The competition regulator has launched separate legal proceedings against the two retail giants, alleging ‘misleading’ discounts on hundreds of common supermarket products.
ASX on hunt for new chief risk officer
With regulatory battles looming, the market operator will have to kick off a recruitment drive to replace its head of risk Hamish Treleaven, who is retiring.
Record-breaking stockmarkets: what you should do now
Shares are booming in Australia, the US and elsewhere, which is both tempting and scary for investors. Remember these rules.
REA hikes bid for British property site Rightmove to $11.95bn
The latest sweetened proposal is aimed at getting the British target to the table for talks about a potential merger.
‘Fools’: Albo hits out at Coles, Woolies
Prime Minister Anthony Albanese says supermarket customers “don’t deserve to be treated as fools” as Woolies and Coles are called out.
Gold explorer triples on Mexican exploration results
A gold exploration minnow has made what it says is a ‘globally significant’ find, sending its shares through the roof.
Crypto won’t hurt US dollar: Scaramucci
Financier Anthony Scaramucci believes Donald Trump has embraced bitcoin because it’s actually a booster for US dollar supremacy.
Beston Global Food Co collapses after failure to find a buyer
Beston Global Food Company has collapsed into administration after a failed bid to sell the company, putting about 160 jobs in South Australia’s southeast at risk.
Healius hauls in ‘much bigger’ than expected $965m for Lumus
Healius will look at how to return capital to shareholders after its bumper $965m Lumus Imaging sale to Affinity Equity Partners.
Clocking on: WFH a career killer
Working from home may be a career-limiting move as more companies push employees to return to the office five days a week. But recruiters have sent a warning to employers | POLL
‘Clear and present danger’: the dark side of Australia’s solar boom
Brian Craighead says just like Hezbollah’s exploding pagers and walkie-talkies, Australia’s home and large battery storage systems present a threat to national security.
Original URL: https://www.weeklytimesnow.com.au/agribusiness/breaking-news/page/4