This Month
Dry conditions to cost Australian farmers, with grim outlook for wine
Dry conditions and soft international grain prices have led to Australia’s agricultural output dropping by 15 per cent, hitting farm incomes.
- Tom Rabe
CBH gatecrashes GrainCorp’s biofuels strategy, closes in on BP deal
The ASX-listed agricultural giant’s major West Australian rival is preparing plans for its own large-scale oilseed crushing plant in Perth, sources said.
- Brad Thompson
February
Commonwealth Bank lines up $650m debt for Costa Group take-private
The debt facility is expected to print on Monday evening, just as the scheme is implemented.
- Sarah Thompson, Kanika Sood and Emma Rapaport
McGuigan owner Australian Vintage considers merger with Accolade
The ASX-listed group told investors it was in “exploratory discussions” with the Bain-controlled owner of the Hardys, Banrock Station and Petaluma brands.
- Simon Evans
Treasury Wine cuts dividend as US profits slide
Chief executive Tim Ford says a downturn in December-half profits in the US is the low point, and the 19 Crimes brand, led by figurehead Snoop Dogg, will revive.
- Updated
- Simon Evans
Project Gentle: Wide Open Agriculture seeks to divest WA food brand
PKF advisors are busy drumming up interest in the wholesale food distribution brand.
- Sarah Thompson, Kanika Sood and Emma Rapaport
GrainCorp shares plunge as it flags big drop in earnings
GrainCorp boss Robert Spurway says earnings and profit forecast have fallen in line with an end to a golden run of harvests for Australian farmers.
- Brad Thompson
Senex covets Incitec’s fertiliser biz; board may opt for higher offer
Detractors point to a surge in Indonesia’s supply of nickel which has seen prices plunge, saying the state-owned company cannot be trusted to properly manage fertiliser supply.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Navis Capital launches $NZ50m-a-year Mainland Poultry sale
A 13-page teaser is in front of potential buyers, spruiking the company’s more than $NZ50 million of EBITDA.
- Sarah Thompson, Kanika Sood and Emma Rapaport
FIRB concerns dog Incitec Pivot’s mooted fertiliser sale
An export cap has been proposed to get over this hurdle, but this has internal decision makers concerned it won’t be the hoped-for clean exit.
- Sarah Thompson, Kanika Sood and Emma Rapaport
AACo did not question board about leak claims after insider plea
AACo’s 52 per cent owner, UK billionaire Joe Lewis, pleaded guilty to insider trading charges in the US last month. Claims of leaks mde to him have been denied.
- Liam Walsh
Government rejects stranded Bahijah’s live export bid
The federal government has given the green light to a second live export ship to travel through the tumultuous Red Sea.
- Tom Rabe
Nufarm wants biofuel mandates to send agriculture flying
Nufarm chairman John Gillam says he wants government green fuel mandates to cash in on a “once-in-a-lifetime” opportunity for agriculture.
- Brad Thompson
January
Thousands of animals stuck on ship after dock offer from WA rejected
A livestock ship that turned back to Australia due to the Red Sea conflict rejected an offer from the WA government to dock at Fremantle earlier this week.
- Tom Rabe
Shareholders vote in favour of $1.5b ‘lowball’ bid for Costa Group
Shareholders in the mushrooms, berries and avocado giant gave the green light to a takeover bid, with Costa Group to disappear from the ASX on February 8.
- Updated
- Simon Evans
Joe Lewis’ reach on AACo board left out of US ban
In his plea deal, the UK billionaire relinquished control over board representation of any US-listed company. Australia’s AACo has two Lewis-linked directors.
- Liam Walsh
Joe Lewis’ AACo stake looks protected after insider trading plea
The British billionaire pleads guilty in New York, despite initially claiming he would defend the charges.
- Liam Walsh
Billionaire Joe Lewis pleads guilty in insider trading case
He pleaded guilty in federal court in Manhattan on Wednesday to charges that he gave his longtime private pilots and a romantic partner inside information in AACo and Mirati Therapeutics.
- Ava Benny-Morrison and Katherine Burton
- Opinion
- Governance
Commodity giant ADM must act fast to restore trust
Archer-Daniels-Midland itself has a chequered history; in the 1990s, the company was at the centre of a commodity price-fixing conspiracy.
- Javier Blas
Most farmers big winners from El Nino-defying rain
The cattle industry and summer crop producers are entering 2024 in good shape as rain continues to tumble down across the eastern states.
- Brad Thompson
