AGL Energy Limited (AGL):
AGL Energy will test using blockchain technology to allow households to trade surplus energy from their rooftop solar panels, with the aim of determining the regulatory and system changes needed to make the market work effectively. Funded partly by a $120,000 grant from the Australian Renewable Energy Agency, the desktop trial could lead to a real-world trial involving homes that have rooftop panels, batteries and ‘‘smart’’ air-conditioning systems. Some smaller energy players, including Powershop and Perth-based Power Ledger, say they are a step ahead in so called ‘‘behind-the-meter’’ energy systems, putting pressure on the majors to catch up or pay the price. The $293,800 project, which will also involve IBM Australia and distributed energy advisers Marchment Hill Consulting, is intended to build understanding of the value in peer-to-peer energy markets and how blockchain technology could make it more worthwhile.
AMP Ltd (AMP):
Under-fire AMP chief executive Craig Meller has launched a passionate defence of his turnaround strategy, assuring sceptical analysts and investors that the company can get multimillion-dollar growth in China and reverse a revenue slump in its wealth management arm. ‘‘We’re confident that as a result of these actions we can restore the wealth management business to its historic rates, essentially by driving productivity and generating increased revenue both within the advice business and more broadly within our SMSF business with continued capacity to drive costs hard,’’ Mr Meller told shareholders in a four-hour investor presentation held in Sydney on Thursday. ‘‘The AMP of the future will look very different from today.’’ During the strategy day, AMP’s first ever, shareholders heard from the heads of the divisions where the wealth manager sees its future – AMP Capital, AMP Bank, advice, wealth and its Chinese interests, led by the China Life Group.
Brickworks Limited (BKW); Perpetual Limited (PPT) : Former fund manager Martin Duncan told the Federal Court he would bet his ‘‘last dollar’’ that an unnamed Macquarie analyst who published research on Brickworks would probably share his belief that the company was better off as a ‘‘pure play’’ than retaining its stake in Washington H. Soul Pattinson. On the fourth day of the case before Justice Jayne Jagot in Sydney, Mr Duncan appeared for the conclusion of his cross-examination as an expert witness presented by Clayton Utz, which is acting for Perpetual. The case will examine whether the rights of shareholders are oppressed by the crossshareholding that exists between Soul Patts and Brickworks. Mr Duncan was questioned by Ian Jackman, SC, who asked the former Arnhem Investment Management stock picker and JPMorgan equity strategist to review a number of broker reports published on Brickworks by Macquarie, Citi and RBS Morgans. The historical Macquarie research was published before a residential market downturn, anticipating a decrease in Brickworks earnings. Mr Jackman pointed out to the court that: ‘‘If you look under the left hand column ‘what we liked’, you’ll see the second bullet point refers to continued diversification away from the building cycle,’’ Mr Jackman said. ‘‘It’s obvious isn’t it,’’ Mr Jackman suggested, that Macquarie was telling its clients that Brickworks’ shareholding in Soul Patts and the earnings derived from this ‘‘is a positive factor’’. Mr Duncan accepted that was true, but then appeared to argue for a broader reading.
Spotless Group Holdings Ltd (SPO); Westpac Banking Corp (WBC); Woolworths Limited (WOW):
Twenty-four large companies including Australia Post, Optus, Westpac and Woolworths have paid up to $25,000 each to post problems that start-ups compete to solve through a new portal. The portal, called CoVentured, opened for start-up registration on Thursday and will soon host futuristic challenges posted by decision-makers at the big companies. Start-ups provide multimedia responses to the challenges, and the corporates can then choose to engage with those they believe show promise. Australia Post will present a challenge related to its preparation for the ‘‘internet of things’’. ‘‘We’re interested in how things can move in and out of homes when the connected devices inside them are ordering their own spare parts,’’ said Greg Sutherland, chief innovation officer for the government-owned business. ‘‘We’re after solutions to make this as seamless for the homeowner as possible. ’’Facilities management giant Spotless would use CoVentured to investigate applications for the internet of things and artificial intelligence.
(Source: AIMS)
AGL Energy will test using blockchain technology to allow households to trade surplus energy from their rooftop solar panels, with the aim of determining the regulatory and system changes needed to make the market work effectively. Funded partly by a $120,000 grant from the Australian Renewable Energy Agency, the desktop trial could lead to a real-world trial involving homes that have rooftop panels, batteries and ‘‘smart’’ air-conditioning systems. Some smaller energy players, including Powershop and Perth-based Power Ledger, say they are a step ahead in so called ‘‘behind-the-meter’’ energy systems, putting pressure on the majors to catch up or pay the price. The $293,800 project, which will also involve IBM Australia and distributed energy advisers Marchment Hill Consulting, is intended to build understanding of the value in peer-to-peer energy markets and how blockchain technology could make it more worthwhile.
AMP Ltd (AMP):
Under-fire AMP chief executive Craig Meller has launched a passionate defence of his turnaround strategy, assuring sceptical analysts and investors that the company can get multimillion-dollar growth in China and reverse a revenue slump in its wealth management arm. ‘‘We’re confident that as a result of these actions we can restore the wealth management business to its historic rates, essentially by driving productivity and generating increased revenue both within the advice business and more broadly within our SMSF business with continued capacity to drive costs hard,’’ Mr Meller told shareholders in a four-hour investor presentation held in Sydney on Thursday. ‘‘The AMP of the future will look very different from today.’’ During the strategy day, AMP’s first ever, shareholders heard from the heads of the divisions where the wealth manager sees its future – AMP Capital, AMP Bank, advice, wealth and its Chinese interests, led by the China Life Group.
Brickworks Limited (BKW); Perpetual Limited (PPT) : Former fund manager Martin Duncan told the Federal Court he would bet his ‘‘last dollar’’ that an unnamed Macquarie analyst who published research on Brickworks would probably share his belief that the company was better off as a ‘‘pure play’’ than retaining its stake in Washington H. Soul Pattinson. On the fourth day of the case before Justice Jayne Jagot in Sydney, Mr Duncan appeared for the conclusion of his cross-examination as an expert witness presented by Clayton Utz, which is acting for Perpetual. The case will examine whether the rights of shareholders are oppressed by the crossshareholding that exists between Soul Patts and Brickworks. Mr Duncan was questioned by Ian Jackman, SC, who asked the former Arnhem Investment Management stock picker and JPMorgan equity strategist to review a number of broker reports published on Brickworks by Macquarie, Citi and RBS Morgans. The historical Macquarie research was published before a residential market downturn, anticipating a decrease in Brickworks earnings. Mr Jackman pointed out to the court that: ‘‘If you look under the left hand column ‘what we liked’, you’ll see the second bullet point refers to continued diversification away from the building cycle,’’ Mr Jackman said. ‘‘It’s obvious isn’t it,’’ Mr Jackman suggested, that Macquarie was telling its clients that Brickworks’ shareholding in Soul Patts and the earnings derived from this ‘‘is a positive factor’’. Mr Duncan accepted that was true, but then appeared to argue for a broader reading.
Spotless Group Holdings Ltd (SPO); Westpac Banking Corp (WBC); Woolworths Limited (WOW):
Twenty-four large companies including Australia Post, Optus, Westpac and Woolworths have paid up to $25,000 each to post problems that start-ups compete to solve through a new portal. The portal, called CoVentured, opened for start-up registration on Thursday and will soon host futuristic challenges posted by decision-makers at the big companies. Start-ups provide multimedia responses to the challenges, and the corporates can then choose to engage with those they believe show promise. Australia Post will present a challenge related to its preparation for the ‘‘internet of things’’. ‘‘We’re interested in how things can move in and out of homes when the connected devices inside them are ordering their own spare parts,’’ said Greg Sutherland, chief innovation officer for the government-owned business. ‘‘We’re after solutions to make this as seamless for the homeowner as possible. ’’Facilities management giant Spotless would use CoVentured to investigate applications for the internet of things and artificial intelligence.
(Source: AIMS)
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