Harvest Lane’s Luke Cummings on the art of the merger deal

Harvest Lane’s Luke Cummings on the art of the merger deal

But what few seemed to appreciate was the potential upside in the form of a $90.7 million outstanding tax claim – the proceeds of which would be distributed to shareholders if the courts ruled against the Tax Office. An independent valuer had only assessed this to be worth up to 10¢ a share but a…
Stockpiles, relocations, regulations: Britain, EU brace for no-deal Brexit

Stockpiles, relocations, regulations: Britain, EU brace for no-deal Brexit

The Institute of Directors released a survey on Friday showing that one-third of its members expect to shift operations abroad after Brexit – and the proportion is two-thirds among those with an EU-facing export business. Around 16 per cent of the 1200 company directors surveyed have already triggered relocation plans or are close to doing…
Netflix secrecy over its ratings is an unfair advantage, say rivals

Netflix secrecy over its ratings is an unfair advantage, say rivals

"Netflix frankly doesn't have to tell anybody anything about the viewing of any of their stuff because they don't have to," says Tim Hanlon, chief executive of the Chicago-based media advisory and investment firm the Vertere Group. Netflix also faces rising costs associated with content licensed from other studios, and disclosing ratings on popular shows…
Goldman Sachs may claw back pay of Blankfein, Solomon over 1MDB affair

Goldman Sachs may claw back pay of Blankfein, Solomon over 1MDB affair

The board set Solomon's total compensation package for 2018 at $US23 million, a $US2 million increase from the prior year. Blankfein's total compensation for 2018 was $US20.5 million. The filing seemed to be aimed, in part, at Blankfein. The board said it would "defer its decision" on some awards for its long-term incentive plan for…
Swiss regulator probes UBS Australia’s $1.2b PNG loan

Swiss regulator probes UBS Australia’s $1.2b PNG loan

The Swiss Financial Market Supervisory Authority (FINMA) has confirmed it is "familiar" with the deal and said it is in "in contact with the bank". UBS declined to comment. Legitimacy questioned The renewed interest in the UBS loan followed an investigation last month by Karin Wenger, a journalist with Swiss Public Radio. Paul Barker, director…
The NZ shooter and an all-white Europe that never existed

The NZ shooter and an all-white Europe that never existed

The symbol became associated with the Third Reich after Heinrich Himmler decorated a castle with it. But in his 2002 book Black Sun: Aryan Cults, Esoteric Nazism, and the Politics of Identity, historian Nicholas Goodrick-Clarke links the symbol to decorative Merovingian discs in the early medieval period. "As far as we know, it was just…
Commonwealth Bank to kick off subdued earnings season

Commonwealth Bank to kick off subdued earnings season

The result is unlikely to be straightforward, according to Mr Mott. "This result is likely to be messy given a large number of restatements (discontinued businesses, divisional restructures) and to contain a number of large/lumpy items, including remediation costs, insurance recoveries, indemnity provisions," he said. With the royal commission's focus on responsible lending, the economic…
Development pullback: 2018 the weakest for apartment approvals in four years

Development pullback: 2018 the weakest for apartment approvals in four years

The country's high-rise apartment supply has already peaked and completions this year will drop by almost one-third to 16,000, JLL said in its latest Residential Apartment Markets reports. "This latest data confirms that tightening credit availability and falling house prices are battering confidence in the residential sector and with the final recommendations of the banking…
Christchurch shooting to spark debate over New Zealand gun laws

Christchurch shooting to spark debate over New Zealand gun laws

The researchers found that the odds that a 22-year absence of mass shootings in Australia since 1996 gun reforms being due to chance were one in 200,000. "It's very tricky because we know absolutely nothing about the shooter or shooters and what sort of guns they were using, and whether they were legally obtained or…
ACMA investigating Christchurch terrorist attack coverage

ACMA investigating Christchurch terrorist attack coverage

The Australian Communications and Media Authority has begun a formal investigation into whether Australian television broadcasters breached content rules in their coverage of the Christchurch terrorist attacks last Friday. "The ACMA's investigation will focus on any content of the perpetrator-filmed, live-streamed footage of the shootings that was broadcast on Australian television," ACMA said in a…

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