Australia Financial News

11.09 / 19:05

COST Progressive Strategy performer rock Fertiliser downturn at Incitec Pivot but sale talks still on

Explosives and fertiliser group Incitec Pivot says it is still in talks about a potential sale of its fertilisers business in a complicated transaction, even though the asset is performing below expectations as farmers switch to lower-margin products.

11.09 / 19:05

UPS Provident Fighting Strategy show The fight between Magellan and Nick Bolton is getting stuck in the mud

The animosity between Magellan Financial and the investment house’s bete noir, Keybridge Capital’s Nick Bolton, shows no sign of dissipating despite the two parties breaking bread and discussing their stand-off in late August.

11.09 / 17:25

Progressive Waters Action Injustice country Island states seek climate protection from Law of the Sea

By Valerie Volcovici and Riham Alkousaa

11.09 / 17:25

UPS IPO Waves Target CEO Platform valuation Marketing firm Klaviyo eyes up to $8.4 billion valuation in US IPO

By Sri Hari N S and Manya Saini

11.09 / 12:13

FIVE BLOCK CEO Entertainment UBS Shell ECM teams eye monster Viva Energy block; fundies on high alert

Commodity trading juggernaut Vitol may be poised to jettison a chunk of its 40.85 per cent stake in ASX-listed fuel retailer and refiner Viva Energy.

11.09 / 12:13

Provident Ford CEO Tesla Albemarle exclusive Takeover Rinehart wins say in Liontown’s future in $6.6b takeover twist

Gina Rinehart has not ruled out launching a bid to rival Albemarle’s $6.6 billion takeover tilt at Liontown Resources after confirming she now holds a strategic stake in the West Australian lithium prize.

11.09 / 10:35

Provident Target Booking UBS track country UBS to cut hundreds of wealth jobs in Asia as activity slows

UBS Group AG is cutting hundreds of wealth jobs in Asia just months after completing its takeover of rival Credit Suisse as the bank responds to muted client activity and China’s slowing economy. Switzerland’s largest bank reduced some overlapping roles in the past months and further cuts are expected through November, according to people with knowledge of the matter, who asked not to be identified as the plans are private. The lender is set to eliminate a few hundred roles that include relationship managers in Hong Kong and Singapore, the majority within teams newly acquired from Credit Suisse, the people said. The number of cuts hasn’t been finalized, they said.

11.09 / 09:38

coinbase Regulations Power Coinbase CEO Brian Armstrong Asserts the Power of Crypto Voting Block that DC Don’t Realize

Brian Armstong, CEO of the Coinbase crypto exchange, stressed the power of crypto voting blocks in the upcoming 2024 United States elections. He believes that the politicians don’t fully realize its importance.

11.09 / 08:31

Adoption G20 G20 nations reaffirm responsible use and development of AI technology

As India handed over the G20 Presidency to Brazil, the member nations have committed to harnessing artificial intelligence (AI) technology in a responsible manner in addition to planning for a future involving crypto assets and central bank digital currencies (CBDC).

11.09 / 08:21

UPS Aware Strategy Tim Carleton’s Auscap fronts up with new long-only fund

Australia’s mid-cap fund space is about to get busier.

11.09 / 07:53

COST UPS Discover show cover RACQ admits to missed chances in $240m discount snafu

Insurer RACQ could have picked up a discounting glitch as early as 2012, nine years before it morphed into a $240 million blowout when it was eventually discovered.

11.09 / 07:53

Provident Cooper ExxonMobil Shell bass East coast gas commitments fail to ease shortfall worries

Producers of gas on the east coast have so far declared they have about between 188 and 237 petajoules of uncontracted gas for sale over the next two years, but the disclosure has failed to eliminate worries about declining supply that could mean shortages next winter.

11.09 / 07:53

COST UPS Provident Booking CEO Airlines Jetstar cancels credits even after agreeing to extend indefinitely

Low-cost Qantas subsidiary Jetstar is telling its customers that flight credits incurred during the COVID-19 pandemic have expired, despite having dropped an arbitrary December 31 deadline and in the face of a looming Senate inquiry.

11.09 / 07:25

Provident BLOCK Digital Apple Software performer Reserve Square payment outage raises red flags at the Reserve Bank

Square’s day-long payment system outage has attracted the attention of the Reserve Bank, which is considering whether the Block-owned company should be forced to start disclosing when its technology goes down, so small businesses can compare its reliability against banks’ terminal offerings.

11.09 / 06:33

UPS performer pop Another EY partner pops up at Alvarez & Marsal

Alvarez & Marsal is making its mark in the professional services industry, pilfering another partner from one of the big four firms.

11.09 / 06:33

COST Lowe's CEO Albemarle exclusive Liontown lets Albemarle into due diligence den

Lithium-play Liontown Resources has allowed New York-listed Albemarle into its data room to undertake exclusive due diligence for four weeks, kicking off the $6.6 billion sale of the Perth-based miner.

11.09 / 04:15

Time open How does Novak Djokovic compare to Rafael Nadal, Roger Federer in all-time grand slam list after US Open victory?

c) Wimbledon: 2 (2008, 2010) d) US Open: 4 (2010, 2013, 2017, 2019) a) Australian Open: 6 (2004, 2006, 2007, 2010, 2017, 2018), French Open: 1 (2009) b) Wimbledon: 8 (2003, 2004, 2005, 2006, 2007, 2009, 2012, 2017)c) US Open: 5 (2004, 2005, 2006, 2007, 2008)

11.09 / 03:37

COST UPS IPO Target CEO Strategy NOT Guzman y Gomez founder: ‘I’m not going anywhere’

The chief executive of Mexican fast-food chain Guzman y Gomez, Steven Marks, says he is “not going anywhere” and will keep his grip on the ASX-hopeful as it eyes an initial public offering as soon as next year.

11.09 / 03:13

COST McDonald's Action BURST voice BHP called out for Voice ‘hypocrisy’ after Brazil disaster

UK lawyers behind a $70 billion class action against BHP over the Samarco mine disaster will lobby Australian politicians, super funds and investors this week ahead of a major shareholder meeting for the mining giant.

11.09 / 03:13

UPS Williams Action Strategy Southern Inside Defending insider charge, Joe Lewis lifts AACo holding

British billionaire Joe Lewis has increased his holding in Australian beef giant AACo, a company he isaccused of illegally passing on secret information about in an insider-trading charge.

11.09 / 03:13

COST UPS Platform Entertainment star Nine banks on bumper Olympics advertising package spend

Nine Entertainment has been secretly pitching for companies to pay up to $12.5 million to back its Olympic Games coverage next year – a roughly 60 per cent increase on the Tokyo Games, as it aims to recoup the $305 million it agreed for the broadcast rights.

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