Latest
Push to kneecap super proxy advisers
Government reforms will aim to reduce the influence of proxy firms out of concerns about the growing power of the super sector, with a focus on the Australian Council of Superannuation Investors.
- Michael Roddan
Oil Search board pay condemned by investors
Investors soundly rejected Oil Search’s remuneration report at the AGM where 10 per cent of shareholders also voted to wind up the company on climate grounds.
- Elouise Fowler
APRA targets risk takers in executive pay rules
The prudential regulator has responded to feedback its proposal was too vague just six months after reacting to earlier criticism it was too rigid.
- Updated
- James Frost
Weary investors reprieve AMP on executive pay
AMP shareholders have handed the board led by chairman Debra Hazelton a rare win, just passing the troubled wealth manager’s remuneration plan in the hope dividends finally resume.
- Updated
- Aleks Vickovich and Michael Roddan
Users clash with Taylor over price of energy reliability
Some energy users are worried that power market reforms to ensure supply remains reliable through the transition to clean power will “gold plate” reliability at huge cost to consumers.
- Updated
- Angela Macdonald-Smith
Out Flanked: Beach Energy’s value drops $900m
Overly optimistic projections of Western Flank reserves and several gas wells pumping out more water than expected are blamed for the downgrade.
- Updated
- Elouise Fowler
Opinion & Analysis
Why NZ will be next in bank shrinkage
Banks will next week release profit results that could include big write-backs of provisions put in place for COVID-19 worst-case scenarios. But the future of banking is uncertain.
Columnist
Sorry doesn’t come easy at AMP
AMP chairman Debra Hazelton didn’t shy away from tough questions at the company’s annual general meeting, but her attempt to paint AMP as a victim of circumstances jarred.
Columnist
Australia must prepare for next year’s COVID-19 challenge
Retired Air Vice-Marshall John Blackburn says Australia must prepare for next COVID variants and that means building local mRNA manufacturing capacity.
Columnist
Inside the intense political drama at ASIC
The new leadership is the result of potent politics, conflict within the organisation and Josh Frydenberg’s determination to assert the government’s authority.
Columnist
Companies in the News
Woolworths
Commonwealth Bank
Coles Supermarkets
Fortescue Metals Group
Updated: Apr 30, 2021 – 5.08pm. Data is 20 mins delayed.
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Featured
- Investigation
- Workplace
KPMG fired staff over drunken ‘boys’ night out’ at strip clubs
The firm investigated the behaviour in 2018 after being alerted to a video invitation sent to 80 male employees ranging from interns to directors in the Private Enterprise division.
- Hannah Wootton and Edmund Tadros
What did Julie Bishop do for Greensill Capital?
While former British PM David Cameron gets lambasted for touting Greensill Capital’s supply chain finance schemes, the role played by another adviser, Julie Bishop, remains a mystery.
- Jenny Wiggins, Hans van Leeuwen and Andrew Tillett
- Investigation
- Big four consultants
Pressure builds on PwC, EY to reveal staff complaint statistics
Pressure is growing on big four consultancies PwC and EY to emulate rival Deloitte by voluntarily disclosing the number of workplace investigations conducted each year, after details of KPMG’s complaints catalogue were revealed.
- Edmund Tadros and Hannah Wootton
More From Today
- Opinion
- Chanticleer
Why NZ will be next in bank shrinkage
Banks will next week release profit results that could include big write-backs of provisions put in place for COVID-19 worst-case scenarios. But the future of banking is uncertain.
- Tony Boyd
Yesterday
Free speech and #MeToo collide with defamation injunction
A judge has granted an injunction against a women who claimed to have suffered sexual abuse by a media executive.
- Michael Pelly
Nitro Software investor clears out, MS nabs trade
Morgan Stanley’s equities desk has found buyers for a near 10 per cent stake in ASX-listed Nitro Software Ltd.
- Sarah Thompson, Anthony Macdonald and Tim Boyd
ANZ reveals $817m profit hit
ANZ has softened up the market ahead of next week’s interim results with an $817 million hit to profits after-tax.
- Updated
- James Frost
Soft power market hits Origin Energy
Flagging electricity sales and a slump in demand for gas for power generation have hit Origin Energy, with chief executive Frank Calabria citing continued impacts from the pandemic and “very mild” summer weather.
- Updated
- Angela Macdonald-Smith
Australia’s top sports need to drop state-based models
Outdated organisational structures make it harder to build scale and attract sponsors in the highly competitive sports market, Australia’s new cycling head says.
- Michael Bleby
Qantas wins last-minute order to delay defection
A Singapore court ruling means Nick Rohrlach will probably not start at Virgin’s loyalty business until after the period Qantas wanted him to spend on gardening leave.
- Lucas Baird
Companies can delay reporting due to auditor shortage: ASIC
The corporate regulator has given companies longer to report their financial results amid a critical shortage of auditors that is also leading to sharp pay rises across the professional services.
- Edmund Tadros
Less than 20 years after independence, Timor-Leste is running on fumes
When Timor-Leste won independence in 2002 the belief was it had petroleum reserves to last generations, but the money is running out much earlier than expected.
- Angus Grigg
- Opinion
- Chanticleer
Sorry doesn’t come easy at AMP
AMP chairman Debra Hazelton didn’t shy away from tough questions at the company’s annual general meeting, but her attempt to paint AMP as a victim of circumstances jarred.
- James Thomson
- Exclusive
- Online shopping
How a fitness buff spun Pizza Hut pay into $1.9b ‘unicorn’
Forget LeBron James as your brand ambassador. British-born Ben Francis is the 28-year-old founder steering fitness brand Gymshark to dizzying heights, using social media influencers.
- Carrie LaFrenz
CIMIC cuts supply chain finance by $39m
CIMIC, a former client of Greensill Capital, said it had reduced its supply chain finance balance to $105 million, hurting cash flows.
- Jenny Wiggins
AMP fends off second strike at AGM
Long-suffering AMP shareholders grilled AMP chairman Debra Hazelton, in her first annual meeting, over the wealth manager’s cultural crisis and languishing share price.
- Aleks Vickovich and Michael Roddan
AMP shareholders irate about retention bonuses
Chairman Debra Hazelton disclosed all senior leaders at AMP were made to do an ‘inclusive leadership’ program following its cultural crisis over the last year.
- Michael Roddan and Aleks Vickovich
Bubs quarterly sales crunched as daigous slow to return
The goat milk baby formula maker also flagged a major strategic shift by cutting its joint venture with China’s Beingmate.
- Carrie LaFrenz
ResMed reserves $US255m for possible ATO settlement
The sleep disorder and digital health giant revealed flat third quarter sales, warning there is still uncertainty given different rates of COVID-19 recovery across the world.
- Carrie LaFrenz
Amazon first-quarter sales beat expectations, shares rise
Net sales rose to $140 billion in the three months of 2021, and Amazon said they could reach to near $150 billion in the current quarter.
- Akanksha Rana and Jeffrey Dastin
- Exclusive
- Media & marketing
Former Nine executive Alexi Baker to run the ball for NRL
Nine’s former managing director commercial Alexi Baker will join the NRL on Monday in the newly created role of chief customer and digital officer.
- Miranda Ward
Nine’s reboots Drive to tackle CarSales
Nine has rebadged its combined automotive publishing business as Drive as a first step in an ambitious growth plan.
- Miranda Ward
