Proxy votes cast ahead of Woodside Petroleum's shareholder vote on a $US2.68 billion selective buyback of shares from Royal Dutch Shell indicate the proposal is doomed to failure.
The Australian Securities and Investments Commission wants more details from the administrators of failed ASX-listed Penrice Soda Holdings, who say they have clear grounds to pursue an insolvent trading claim against directors for as much as $22.5 million.
No wonder he is known as the man with the Midas touch. As rag-trader Solomon Lew banks profits of $191 million from his stakes in David Jones and Country Road, shares in his listed investment vehicle Premier Investments have soared to near record levels as investors wait to see what the $2 billion man will do next.
''You've only got a few hours left, so we can be entirely honest and frank. Banks are bastards, aren't they?'' This was the question put to Cameron Clyne by 3AW’s Neil Mitchell in his last few hours in charge at NAB.‘‘We've got a long way to go and I think banks have to improve their reputation,’’ was the closest that Clyne go to taking the bait.
Australian shares have posted their strongest month for 2014, getting the new financial year off to a strong start.
The big institutions all knew that there was a trade-off involved in Woodside’s plan to assist Shell’s exit from its register with a $2.7 billion selective share buyback.
James Packer’s chief lieutenant in his push to enter Japan, Todd Nisbet, has met with Osaka governor Ichiro Matsui, who said the prefecture was committed to developing Asia’s top integrated casino resort.
The corporate watchdog has warned directors they bear ultimate responsibility over a company's affairs and will therefore be held to account if anything goes wrong.