Drought delivers bumper profits for West Australian farmers

Drought delivers bumper profits for West Australian farmers

West Australian wheat farmers are among those making hay – some literally – from the east coast drought. A near-perfect combination of plentiful rain, high prices and extra demand from a parched NSW and Queensland could generate almost $1 million average income this year for each of the state's wheat farms. "As much as we…
Chief Justice Susan Kiefel says High Court has changed the way it works

Chief Justice Susan Kiefel says High Court has changed the way it works

The Chief Justice of the High Court, Susan Kiefel, has revealed the court has changed the way it works and judges meet regularly as they prepare judgments. Until recently the court rarely held more than one meeting after a hearing – and that usually lasted less than an hour. Now, she says, the seven justices…
BHP hunter Elliott Management reveals 21st Century Fox stake

BHP hunter Elliott Management reveals 21st Century Fox stake

Activist investor Elliott Management has quietly built a small stake in Rupert Murdoch's 21st Century Fox, just weeks after shareholders approved the sale of its entertainment assets to Walt Disney for $96 billion. Elliott Management's stake was revealed in a filing to the Securities Exchange Commission, but the holding has been built up in class-B…
OZ Mineral’s CEO Andrew Cole has a copper price puzzle

OZ Mineral’s CEO Andrew Cole has a copper price puzzle

Through his four transformational years as OZ Minerals chief executive Andrew Cole has rarely expressed any level of bewilderment. But that is where he is right now. Cole just can't quite work out what is happening in global copper markets. Having enjoyed the tail winds of copper price volatility through the opening six months of…
ASX CEO says sense will prevail on governance principles

ASX CEO says sense will prevail on governance principles

The chief executive of the ASX, Dominic Stevens, has sought to calm the waters that recently swamped the ASX Corporate Governance Council's moves to upgrade its principles. Mr Stevens said a sensible final position will be struck and boards' discretion to not adopt parts of the guidance will be maintained. Speaking after the release of…
Banking royal commission hears AMP Super hamstrung by related parties

Banking royal commission hears AMP Super hamstrung by related parties

The trustees of for-profit superannuation funds appear incapable of acting in the best interests of members because they are so hamstrung by their dealings with other businesses entities in the same group. The board of AMP Super, charged with protecting the retirement savings of 2.5 million members worth more than $100 billion, was largely unaware…
Huawei may reset the China reset

Huawei may reset the China reset

The Turnbull Government is not alone in trying to "reset" the relationship between China and Australia. Huawei's large advertisements in Australian papers this week declare "one in every two Australians depend on Huawei for their telecommunications needs". The figures claimed reflect Huawei's existing business supplying equipment to Optus, Vodafone and TPG for the 4G mobile…
Pauline Hanson still holding out on company tax deal

Pauline Hanson still holding out on company tax deal

Chances of the Turnbull government and the Senate striking a compromise to limit company tax relief to businesses with an annual turnover of $500 million or less have been dealt a blow, with One Nation leader Pauline Hanson demanding a crackdown on multinational gas companies first and another key senator warning he would pull his…
Banking royal commission: Dud cash returns should have alarmed AMP’s Rick Allert

Banking royal commission: Dud cash returns should have alarmed AMP’s Rick Allert

Rick Allert stooped to pick up his folders and documents as he left the royal commission witness box. "Leave the papers there, Mr Allert, and let others sweep them up for you," Commissioner Ken Hanye said. "It's what board chairmen do." It was a nice little nod to the resume of Allert, the former chairman…
CFMMEU charged with criminal cartel behaviour

CFMMEU charged with criminal cartel behaviour

The competition watchdog has laid criminal charges against the Construction, Forestry, Maritime, Mining and Energy Union and its ACT leader for alleged cartel conduct. The Australian Competition and Consumer Commission has alleged the CFMMEU and secretary Jason O'Mara attempted to "induce suppliers of steelfixing services and scaffolding services to reach cartel contracts, arrangements or understandings…

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