BHP Billiton Limited (BHP):
In both Australia and the United States BHP has an extra reason to celebrate this week’s American Thanksgiving holiday—- it timed its exit from the US shale oil and gas industry to perfection. Since selling the assets to BP the oil price has fallen almost 30 per cent, which would have substantially reduced the $US10.8 billion the Big Australian received and, in turn, would have reduced the recent BHP share buyback and special dividend. And the person that BHP shareholders have most to thank is none other than President Donald Trump, who is a strong advocate of lower oil prices and manoeuvred the market brilliantly to achieve his goal.
BlueScope Steel Limited (BSL):
BlueScope Steel has warned the loss of coal-fired power stations including AGL’s giant Liddell facility from the nation’s power grid could raise electricity prices unless sufficient “reliable” generation can be sourced to fill the gap. Australia’s largest steelmaker (BSL) said progress had been “patchy” on both energy and climate policy in Australia and it remains very concerned about the impact of skyrocketing gas and electricity prices and the declining reliability of supply on the competitiveness of its Australian manufacturing options. “Whether Liddell stays or goes is a matter for AGL. But if you take capacity out of the market, there is less energy and prices will go up,” BlueScope chairman John Bevan told shareholders at its annual general meeting in Sydney today. “We need to be cautious in changing all of our current power stations to something else unless there is sufficient reliable power there to keep business operating.”
Brickworks Limited (BKW):
Australia’s largest brickmaker, Brickworks, has made its first major offshore acquisition as it seeks international growth because of a saturated domestic market. Brickworks announced today it has acquired Glen-Gery, the fourth largest brick manufacturer in the US, for $151 million. “The problem we face here is we already make half the bricks in Australia, we can neither legally or ethically expand beyond this so if we wish to expand in bricks, we have no choice but to go offshore,” managing director Lindsay Partridge said.
Commonwealth Bank of Australia (CBA):
The corporate regulator is investigating Commonwealth Bank's mis-selling of consumer credit insurance, which its chairman James Shipton said has been a systemic issue involving 11 institutions. On Friday morning, Mr Shipton said it was a "mistake" not to launch an investigation into CBA's selling of the often-worthless insurance products connected to credit cards and personal loans earlier than October this year. He reiterated that an investigation into National Australia Bank for the introducer program should also have been launched more quickly. No enforcement proceedings have yet been initiated for either matter. But Mr Shipton on Friday told the Hayne inquiry both could be considered a "demonstrable breach" of the banks' obligations.
Kathmandu Holdings Limited (KMD):
Kathmandu’s shares have jumped nearly 20 per cent after the adventure gear retailer reported a 7.1 per cent rise in Australian same store sales. Same store sales for the 15 weeks to November 11 grew 6.3 per cent across the company on a constant currency basis, with Australian operations the stand out performer. Same store sales in New Zealand rose 5.2 per cent, while recently acquired US footwear brand Oboz is on track to hit its $US7.1 million earnings target for the 2018 calendar year.
Myer Holdings Ltd (MYR):
Myer is attempting to box in its biggest shareholder, billionaire investor Solomon Lew, to stop him making a full takeover of the struggling department store chain. It comes after Mr Lew said in an ABC TV interview last night that he has “no interest in making a takeover bid” and was “ruling it out”. Myer contends that under ASIC’s “truth in takeovers” policy, this now excludes a bid by the retail mogul, who has spent the last 18 months savaging the retailer and its board in a bitter and public campaign. Mr Lew, the chairman of Premier Investments, which owns a 10.8 per cent stake in Myer, is seeking to unseat the retailer’s entire board. In the ABC interview, Mr Lew again stated neither he nor Premier Investments would be making a takeover bid for Myer or buying more shares.
Virgin Australia Holdings Ltd (VAH):
The race for the top job at Virgin Australia appears to have narrowed to three candidates, with the former Hawaiian Airlines boss Mark Dunkerley believed to be in the mix. Another is said to be from offshore, while the third is possibly from Australia. When retiring from Hawaiian Airlines last year, Mr. Dunkerley was credited for turning around the airline through what it described as a “bold Asia-Pacific growth strategy”.
Westpac Banking Corp (WBC):
Earlier today, Westpac CEO Brian Hartzer was questioned by senior counsel assisting Michael Hodge QC on topics including financial advice, remuneration, and Westpac’s relationship with ASIC. The commission then called outgoing Macquarie Group CEO Nicholas Moore to appear, marking the first time the investment group has appeared before Commissioner Hayne. For that reason, Mr. Moore’s appearance had been much anticipated. In the end though, it proved rather brief and anti-climactic. This afternoon ASIC chairman James Shipton has been been taken to task about ASIC’s relationship with the companies it regulates, with suggestions that maintaining that relationship has been prioritised over enforcement being made during an extensive grilling by Ms. Orr.
（Source: AIMS）
In both Australia and the United States BHP has an extra reason to celebrate this week’s American Thanksgiving holiday—- it timed its exit from the US shale oil and gas industry to perfection. Since selling the assets to BP the oil price has fallen almost 30 per cent, which would have substantially reduced the $US10.8 billion the Big Australian received and, in turn, would have reduced the recent BHP share buyback and special dividend. And the person that BHP shareholders have most to thank is none other than President Donald Trump, who is a strong advocate of lower oil prices and manoeuvred the market brilliantly to achieve his goal.
BlueScope Steel Limited (BSL):
BlueScope Steel has warned the loss of coal-fired power stations including AGL’s giant Liddell facility from the nation’s power grid could raise electricity prices unless sufficient “reliable” generation can be sourced to fill the gap. Australia’s largest steelmaker (BSL) said progress had been “patchy” on both energy and climate policy in Australia and it remains very concerned about the impact of skyrocketing gas and electricity prices and the declining reliability of supply on the competitiveness of its Australian manufacturing options. “Whether Liddell stays or goes is a matter for AGL. But if you take capacity out of the market, there is less energy and prices will go up,” BlueScope chairman John Bevan told shareholders at its annual general meeting in Sydney today. “We need to be cautious in changing all of our current power stations to something else unless there is sufficient reliable power there to keep business operating.”
Brickworks Limited (BKW):
Australia’s largest brickmaker, Brickworks, has made its first major offshore acquisition as it seeks international growth because of a saturated domestic market. Brickworks announced today it has acquired Glen-Gery, the fourth largest brick manufacturer in the US, for $151 million. “The problem we face here is we already make half the bricks in Australia, we can neither legally or ethically expand beyond this so if we wish to expand in bricks, we have no choice but to go offshore,” managing director Lindsay Partridge said.
Commonwealth Bank of Australia (CBA):
The corporate regulator is investigating Commonwealth Bank's mis-selling of consumer credit insurance, which its chairman James Shipton said has been a systemic issue involving 11 institutions. On Friday morning, Mr Shipton said it was a "mistake" not to launch an investigation into CBA's selling of the often-worthless insurance products connected to credit cards and personal loans earlier than October this year. He reiterated that an investigation into National Australia Bank for the introducer program should also have been launched more quickly. No enforcement proceedings have yet been initiated for either matter. But Mr Shipton on Friday told the Hayne inquiry both could be considered a "demonstrable breach" of the banks' obligations.
Kathmandu Holdings Limited (KMD):
Kathmandu’s shares have jumped nearly 20 per cent after the adventure gear retailer reported a 7.1 per cent rise in Australian same store sales. Same store sales for the 15 weeks to November 11 grew 6.3 per cent across the company on a constant currency basis, with Australian operations the stand out performer. Same store sales in New Zealand rose 5.2 per cent, while recently acquired US footwear brand Oboz is on track to hit its $US7.1 million earnings target for the 2018 calendar year.
Myer Holdings Ltd (MYR):
Myer is attempting to box in its biggest shareholder, billionaire investor Solomon Lew, to stop him making a full takeover of the struggling department store chain. It comes after Mr Lew said in an ABC TV interview last night that he has “no interest in making a takeover bid” and was “ruling it out”. Myer contends that under ASIC’s “truth in takeovers” policy, this now excludes a bid by the retail mogul, who has spent the last 18 months savaging the retailer and its board in a bitter and public campaign. Mr Lew, the chairman of Premier Investments, which owns a 10.8 per cent stake in Myer, is seeking to unseat the retailer’s entire board. In the ABC interview, Mr Lew again stated neither he nor Premier Investments would be making a takeover bid for Myer or buying more shares.
Virgin Australia Holdings Ltd (VAH):
The race for the top job at Virgin Australia appears to have narrowed to three candidates, with the former Hawaiian Airlines boss Mark Dunkerley believed to be in the mix. Another is said to be from offshore, while the third is possibly from Australia. When retiring from Hawaiian Airlines last year, Mr. Dunkerley was credited for turning around the airline through what it described as a “bold Asia-Pacific growth strategy”.
Westpac Banking Corp (WBC):
Earlier today, Westpac CEO Brian Hartzer was questioned by senior counsel assisting Michael Hodge QC on topics including financial advice, remuneration, and Westpac’s relationship with ASIC. The commission then called outgoing Macquarie Group CEO Nicholas Moore to appear, marking the first time the investment group has appeared before Commissioner Hayne. For that reason, Mr. Moore’s appearance had been much anticipated. In the end though, it proved rather brief and anti-climactic. This afternoon ASIC chairman James Shipton has been been taken to task about ASIC’s relationship with the companies it regulates, with suggestions that maintaining that relationship has been prioritised over enforcement being made during an extensive grilling by Ms. Orr.
（Source: AIMS）
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