Wesfarmers boss Richard Goyder has painted himself as the ‘'shareholders’ friend'’ after thrusting a further $1.1 billion in special dividends into investors’ pockets, while also vowing he won't pay silly prices for a bolt-on acquisition with the piles of cash still sitting on the conglomerate’s balance sheet.
The poor financial health of News Corp Australia's newspapers has been exposed by the release of confidential documents showing continuing losses at its flagship publication The Australian, diving profits for its tabloids, and swingeing job cuts.
As a slide in BHP Billiton’s share price that began in London on Tuesday night spilled into the local market on Wednesday morning, BHP and advisers began asking the obvious question: were BHP shareholders giving the group’s demerger plan the thumbs down?
BHP still has hurdles to cross to get demerger across the line
Too many businesses are keener to pay dividends than they are to grow, an exasperated Reserve Bank governor Glenn Stevens has told a parliamentary hearing.
Despite BHP Billiton’s controversial $US15 billion ($16 billion) spin-off freeing up cash flow for the mining company, chief executive Andrew Mackenzie says acquisitions are not on the cards and the miner will instead concentrate on executing the cheapest possible expansions of its ''four pillar'' commodities.
Just imagine having your KPIs linked to Sandilands’ diet. This is the guy who was described by one former colleague as ‘‘that bearded lump of cholesterol’’.
It’s now clear why News Corp doesn’t break out the profitability of its Australian newspapers – there may not be any.
Woodside Petroleum has sharpened its appetite for acquisitions, with chief executive Peter Coleman hinting that Apache’s stake in the $29 billion Wheatstone LNG project in Western Australia is on the list of potential targets.
Brisbane’s Waterfront Place office tower is to be offered for sale with a pricetag estimated at $600 million.