Crown Resorts Ltd (CWN):
The past 10 days have arguably been some of the most important in James Packer’s 50 years on earth. Just a month ago, there appeared little chance of the billionaire ending his period of introspection and self-imposed exile from the world, away from prying eyes on his polo ranch in northeast Argentina. But his decision to speak publicly for the first time about the horrors of the past two years — the break-up with Mariah Carey, the scars of Hollywood, the battles with his sister over the family fortune and the end of the global ambitions for his Crown Resorts group — ultimately proved cathartic. In early October, Packer had resolved to make his first trip to Australia in two years. There would only be one caveat — he wouldn’t be visiting Sydney, the city which in three years will become his home again when his $2.4 billion Crown Sydney project is completed.
Iluka Resources Limited (ILU):
Mineral sands producer Iluka Resources appears set to make a decision within months on whether to advance its Cataby project, as improving market conditions support customer interest in the West Australian deposit. Iluka managing director Tom O'Leary told an analyst call on Friday the company's discussions with potential offtake partners for Cataby had made "good progress" during the September quarter and it was well placed to make a decision on whether to proceed with its development before the end of the calendar year."I don't want to impose false deadlines on commercial negotiations that are at a pretty sensitive stage nor do I think it is in our shareholders' interests to give a running commentary on those negotiations but I would reiterate that we are making good progress and I remain confident that we will get this done in the second half [of the year]," Mr O'Leary said.Iluka plans to produce ilmenite as a feed source for synthetic rutile from Cataby, a large chloride ilmenite deposit about 150 kilometres north of Perth. It will also produce some zircon and rutile over an estimated 8½-year mine life.
Macquarie Group Ltd (MQG):
Macquarie Group chief Nicholas Moore is confident the company has plenty of scope for acquisitions and growth in the infrastructure sector, even as he cautioned a US spending bonanza would take many years to play out and mooted US tax reforms would be difficult to implement. Mr Moore's comments came as Macquarie – the world's largest infrastructure manager – racheted up full-year earnings guidance and made a marquee appointment of former Reserve Bank of Australia governor Glenn Stevens to its board. The company outlined a $1 billion share buyback as part of its results but appears to still have plenty of firepower for acquisitions, including surplus capital on its balance sheet and a war chest of $11.3 billion to deploy within its stable of infrastructure funds. "From a group perspective we do have surplus capital and we encourage all our teams to be looking for opportunities to grow our business," Mr Moore said.
National Australia Bank (NAB):
National Australia Bank has announced late on Friday that it has reached a settlement with the corporate regulator over alleged interest rate rigging. The settlement comes after a week of negotiation with the Australian Securities and Investments Commission as the eagerly anticipated bank bill swap rate rigging trial was due to commence. The Melbourne based lender will pay a total of $50 million, in the form of a $10 million penalty, subject to court approval, $20 million to cover the legal costs of the Australian Securities and Investments Commission and a $20 million donation to a financial consumer protection fund. NAB's settlement follows an announcement on Monday by ANZ Banking Group that it had reached an agreement with ASIC to settle allegations that it engaged in unconscionable conduct in relation to setting the benchmark bank bill swap rate. NAB has admitted that on12 occasions, between 2010 and 2011, it in engaged in unconscionable conduct over trading the BBSW. It also acknowledged it breached its license obligations under the Corporations Act, and has agreed to an Enforceable Undertaking with ASIC.
Qantas Airways Limited (QAN):
Qantas boss Alan Joyce has topped a global list of executives recognised for championing gay rights in the latest accolade for the airline chief whose bumper $25 million pay packet was approved by shareholders on Friday following the carrier's financial turnaround. Mr Joyce was described as a "passionate advocate for LGBT rights and speaks often about the importance of equality, diversity," according to the list compiled by OUTstanding, a professional network for LGBT executives and the Financial Times."He has also taken a very public stance in campaigning in favour of marriage equality as a fundamental human rights issue," the organisation said on Friday. Mr Joyce, who is openly gay, was hit in the face with a pie for supporting marriage equality during a speech earlier this year. Despite criticism from conservative politicians, he said he would not be silenced on the issue and made a personal $1 million donation to the Yes campaign for marriage equality in Australia.
Wesfarmers Ltd (WES):
Wesfarmers is one party believed to be running the numbers on Apollo Global Management's stake in telecommunications and infrastructure contractor Ventia. Street Talk understands the Perth-based conglomerate has shown its curiosity in the $1 billion-plus opportunity, and has been thinking about whether it could be a smart way to take the company into a new market. Sources said Wesfarmers' interest was only preliminary, and there was no guarantee that it would end in a binding offer let alone an acquisition. The $47 billion listed asset owner is known for considering all sorts of potential deals, but rarely pulls the trigger when it comes to crunch time. It would be an interesting move by the company, which is re-thinking its future under the leadership of incoming chief executive Rob Scott. Scott has told investors he will bring a fresh perspective to the CEO's chair, and has the board's backing to pursue new avenues. It makes most of its money in retail via Coles, Bunnings, Target and Kmart, and has been seeking to offload its coal business over the past 12-months. The interest comes as Ventia auctioneer Credit Suisse expects to receive indicative bids on Friday.
Westpac Banking Corp (WBC):
In 2010 Westpac trader Colin Roden told a colleague his “biggest fear” was that borrowers would find out bankers were “trying to stitch people up” by rigging a key interest rate benchmark and this could destroy the sector’s reputation among the “crowd” of regular Australians. That fear will be tested by Westpac in court next week as the nation’s second bank refuses to back down from a suit brought by the corporate watchdog. ANZ and National Australia Bank were also involved but pulled out all stops to settle before the case went before the Federal Court, and into the ¬nation’s newspapers and evening news bulletins. Just hours before the trial was set to start in Melbourne last Monday, ANZ struck an in--principle agreement with the Australian Securities & Investments Commission over allegations the bank’s traders manipulated the key interest rate benchmark for interbank lending — the bank bill swap rate (BBSW). The settlement is expected to come with an admission of wrongdoing and a fine upwards of $50 million, representing a major win for outgoing ASIC chairman Greg Medcraft. NAB has also been in discussions with ASIC to settle, with most insiders pointing to the threat of “trial by tape recorder” presented to the already beleaguered biggest banks. Staring down the prospect of a 12-week trial, NAB and ANZ worried the renewed focus on conduct issues inside the banks could add to the threat of a royal commission that hovers over the sector. Westpac, however, is still willing to risk it — despite the discussions between its traders being among the most colourful of the transcripts lodged in statements of claims against the lenders. Westpac faces fewer allegations of breaches than the other lenders.
（Source: AIMS）
The past 10 days have arguably been some of the most important in James Packer’s 50 years on earth. Just a month ago, there appeared little chance of the billionaire ending his period of introspection and self-imposed exile from the world, away from prying eyes on his polo ranch in northeast Argentina. But his decision to speak publicly for the first time about the horrors of the past two years — the break-up with Mariah Carey, the scars of Hollywood, the battles with his sister over the family fortune and the end of the global ambitions for his Crown Resorts group — ultimately proved cathartic. In early October, Packer had resolved to make his first trip to Australia in two years. There would only be one caveat — he wouldn’t be visiting Sydney, the city which in three years will become his home again when his $2.4 billion Crown Sydney project is completed.
Iluka Resources Limited (ILU):
Mineral sands producer Iluka Resources appears set to make a decision within months on whether to advance its Cataby project, as improving market conditions support customer interest in the West Australian deposit. Iluka managing director Tom O'Leary told an analyst call on Friday the company's discussions with potential offtake partners for Cataby had made "good progress" during the September quarter and it was well placed to make a decision on whether to proceed with its development before the end of the calendar year."I don't want to impose false deadlines on commercial negotiations that are at a pretty sensitive stage nor do I think it is in our shareholders' interests to give a running commentary on those negotiations but I would reiterate that we are making good progress and I remain confident that we will get this done in the second half [of the year]," Mr O'Leary said.Iluka plans to produce ilmenite as a feed source for synthetic rutile from Cataby, a large chloride ilmenite deposit about 150 kilometres north of Perth. It will also produce some zircon and rutile over an estimated 8½-year mine life.
Macquarie Group Ltd (MQG):
Macquarie Group chief Nicholas Moore is confident the company has plenty of scope for acquisitions and growth in the infrastructure sector, even as he cautioned a US spending bonanza would take many years to play out and mooted US tax reforms would be difficult to implement. Mr Moore's comments came as Macquarie – the world's largest infrastructure manager – racheted up full-year earnings guidance and made a marquee appointment of former Reserve Bank of Australia governor Glenn Stevens to its board. The company outlined a $1 billion share buyback as part of its results but appears to still have plenty of firepower for acquisitions, including surplus capital on its balance sheet and a war chest of $11.3 billion to deploy within its stable of infrastructure funds. "From a group perspective we do have surplus capital and we encourage all our teams to be looking for opportunities to grow our business," Mr Moore said.
National Australia Bank (NAB):
National Australia Bank has announced late on Friday that it has reached a settlement with the corporate regulator over alleged interest rate rigging. The settlement comes after a week of negotiation with the Australian Securities and Investments Commission as the eagerly anticipated bank bill swap rate rigging trial was due to commence. The Melbourne based lender will pay a total of $50 million, in the form of a $10 million penalty, subject to court approval, $20 million to cover the legal costs of the Australian Securities and Investments Commission and a $20 million donation to a financial consumer protection fund. NAB's settlement follows an announcement on Monday by ANZ Banking Group that it had reached an agreement with ASIC to settle allegations that it engaged in unconscionable conduct in relation to setting the benchmark bank bill swap rate. NAB has admitted that on12 occasions, between 2010 and 2011, it in engaged in unconscionable conduct over trading the BBSW. It also acknowledged it breached its license obligations under the Corporations Act, and has agreed to an Enforceable Undertaking with ASIC.
Qantas Airways Limited (QAN):
Qantas boss Alan Joyce has topped a global list of executives recognised for championing gay rights in the latest accolade for the airline chief whose bumper $25 million pay packet was approved by shareholders on Friday following the carrier's financial turnaround. Mr Joyce was described as a "passionate advocate for LGBT rights and speaks often about the importance of equality, diversity," according to the list compiled by OUTstanding, a professional network for LGBT executives and the Financial Times."He has also taken a very public stance in campaigning in favour of marriage equality as a fundamental human rights issue," the organisation said on Friday. Mr Joyce, who is openly gay, was hit in the face with a pie for supporting marriage equality during a speech earlier this year. Despite criticism from conservative politicians, he said he would not be silenced on the issue and made a personal $1 million donation to the Yes campaign for marriage equality in Australia.
Wesfarmers Ltd (WES):
Wesfarmers is one party believed to be running the numbers on Apollo Global Management's stake in telecommunications and infrastructure contractor Ventia. Street Talk understands the Perth-based conglomerate has shown its curiosity in the $1 billion-plus opportunity, and has been thinking about whether it could be a smart way to take the company into a new market. Sources said Wesfarmers' interest was only preliminary, and there was no guarantee that it would end in a binding offer let alone an acquisition. The $47 billion listed asset owner is known for considering all sorts of potential deals, but rarely pulls the trigger when it comes to crunch time. It would be an interesting move by the company, which is re-thinking its future under the leadership of incoming chief executive Rob Scott. Scott has told investors he will bring a fresh perspective to the CEO's chair, and has the board's backing to pursue new avenues. It makes most of its money in retail via Coles, Bunnings, Target and Kmart, and has been seeking to offload its coal business over the past 12-months. The interest comes as Ventia auctioneer Credit Suisse expects to receive indicative bids on Friday.
Westpac Banking Corp (WBC):
In 2010 Westpac trader Colin Roden told a colleague his “biggest fear” was that borrowers would find out bankers were “trying to stitch people up” by rigging a key interest rate benchmark and this could destroy the sector’s reputation among the “crowd” of regular Australians. That fear will be tested by Westpac in court next week as the nation’s second bank refuses to back down from a suit brought by the corporate watchdog. ANZ and National Australia Bank were also involved but pulled out all stops to settle before the case went before the Federal Court, and into the ¬nation’s newspapers and evening news bulletins. Just hours before the trial was set to start in Melbourne last Monday, ANZ struck an in--principle agreement with the Australian Securities & Investments Commission over allegations the bank’s traders manipulated the key interest rate benchmark for interbank lending — the bank bill swap rate (BBSW). The settlement is expected to come with an admission of wrongdoing and a fine upwards of $50 million, representing a major win for outgoing ASIC chairman Greg Medcraft. NAB has also been in discussions with ASIC to settle, with most insiders pointing to the threat of “trial by tape recorder” presented to the already beleaguered biggest banks. Staring down the prospect of a 12-week trial, NAB and ANZ worried the renewed focus on conduct issues inside the banks could add to the threat of a royal commission that hovers over the sector. Westpac, however, is still willing to risk it — despite the discussions between its traders being among the most colourful of the transcripts lodged in statements of claims against the lenders. Westpac faces fewer allegations of breaches than the other lenders.
（Source: AIMS）
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