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Archive for June 2013


Law war undermines tax erosion claims

The G20 has launched a strike against regulatory arbitrage but competition for corporate profits is intensifying, as CFOs discover the benefits of relocating.

Companies seek US bonds to bypass bank loans

Australian companies are falling over themselves to tap US high-yield and covenant-lite loan markets. The conditions won’t last, but may mark the end of reliance on the banks.

Reeves to head finance at Treasury Wine Estates

Tony Reeves has returned to corporate life to take over as CFO at Treasury Wine Estates from Mark Fleming, who is leaving on Friday to take a “career break”.

How to wear a top hat

Moving headquarters can be expensive for he company and lucrative for its advisers: it requires expertise drawn from across accounting and law firms, including management consultants, tax specialists and M&A advisers.

Integrated reports will be ignored if skin deep

Opinion | If the early versions of integrated reporting and the local opposition are anything to go by, they will be little more than cosmetic to begin with, says Shaun Drummond

Election slows activity say finance chiefs, advisers

Australian finance chiefs expect the lead-up to the election to lead to a slowing of the economy, according to a global survey.

Non-franking status seen as no hindrance

Australian companies that have grown offshore say their diminished ability to frank dividends has not been a major barrier to their expansion.

Leaner mining services sweat on shock absorbers

Some mining companies and dependant sectors have prepared for the end of massive growth by spending on technology to boost productivity, but much will depend on how fast the Australian dollar and costs fall.

Transfield CEO picks BHP exec for CFO

Engineering and construction company Transfield Services has named Vincent Nicoletti as its new finance chief to replace Tiernan O’Rourke who will move to head the company’s Middle East and Asia business.

James Hardie finance boss retires

Matthew Marsh from General Electric’s Healthcare division will succeed James Hardie finance chief Russell Chenu when he retires later this year.

Latest insurance standard still a worry

The international accounting standards setter will release the latest exposure draft in the 15-year saga of the insurance contracts standard on Thursday.

New wave of jobs go offshore

Brambles and Perpetual are the latest in a growing list of companies outside the big banks to send finance back office jobs offshore to improve access to technology and cut costs.

Standard increases volatility for insurers

The Australian Accounting Standards Board wants parts of a new international standard to be optional.

Cost cutters get the chop

CFOs and other senior executives at smaller companies and in divisional roles are being turfed out as resource companies put investments on hold and larger companies collapse divisions and restructuring projects mature.

NewSat finance chief departs

NewSat CFO Adam Shapiro is leaving the company after six years as finance chief. He’ll be replaced by present chief operating officer Michael Hewins.

Ansell names new finance chief

Global ASX listed glove and condom maker Ansell has appointed Neil Salmon as finance boss to replace Rustom Jilla who left in April to take up a role at a global private equity firm after 11 years at the company.

Director statements in ASIC’s sights for reporting season

The Australian Securities and Investments Commission is likely to put director and management statements about strategy at the top of its list of areas to scrutinise this reporting season.

Keep bond market urgency sparked by spike

Opinion | The blowout in employee benefit liabilities at companies and government agencies may ease with the spike in long-term bond yields, but hopefully the urgency it created to identify when we can say a deep and high-quality corporate bond market exists in Australia will remain. See the Capital section of today’s AFR

Orica names Elkington as new CFO

Orica names Craig Elkington as its new chief financial officer.

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