M69 Professional Scientific and Technical Services

CFOs look on bright side

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Original article by Damon Kitney
The Australian – Page: 22 : 14-Jul-16

Some 33 per cent of CFOs at S&P/ASX 200 companies are confident about the future, according to a new Deloitte survey. This compares with just five per in the second half of 2015. The survey, which was carried out in the first half of 2016, also shows that 80 per cent of respondents think that uncertainty is a deterrent to business investment. Meanwhile, nearly 45 per cent of respondents believe that it is a good time to embrace balance sheet risk. New data from Roy Morgan Research also shows that there has been an upturn in business confidence.

CORPORATES
DELOITTE TOUCHE TOHMATSU LIMITED, ROY MORGAN RESEARCH LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, KPMG AUSTRALIA PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, AGL ENERGY LIMITED – ASX AGL

Twiggy warns about supply chain slavery

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Original article by Glenda Korporaal
The Australian – Page: 21 : 1-Jun-16

Mining magnate Andrew Forrest says slavery and forced labour is a global problems, and he estimates that the number of slaves worldwide is about 46 million. The Global Slavery Index, which is funded by Forrest’s Walk Free charity, estimates that India and China have the highest number of people living in slavery. Forrest says slavery is also an issue in Australia, and he has urged other companies to follow Fortescue Metals Group’s example and take measures to ensure that their supplier are not using slave labour.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, GLOBAL SLAVERY INDEX, WALK FREE FOUNDATION, GALLUP INCORPORATED

Australia lags in female CFOs

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Original article by Tess Ingram
The Australian Financial Review – Page: 18 : 8-Mar-16

Boral, Origin Energy, Dexus Property Group, Perpetual, GPT Group and Magellan Financial Group are the only top-100 listed companies in Australia that have a female CFO, according to research by Conrad Liveris. In contrast, 11 of the 100 largest companies globally boast a female CFO. The research also shows that women now account for 13 of the CFOs at Australia’s 200 largest listed companies, compared with 10 in 2012, while 12 of these companies have a female CEO.

CORPORATES
BORAL LIMITED – ASX BLD, ORIGIN ENERGY LIMITED – ASX ORG, DEXUS PROPERTY GROUP – ASX DXS, PERPETUAL LIMITED – ASX PPT, GPT GROUP – ASX GPT, MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG, STANDARD AND POOR’S ASX 200 INDEX, CITIGROUP PTY LTD, WESTPAC INSTITUTIONAL BANK, DIVERSITY PARTNERS PTY LTD, ARETE EXECUTIVE PTY LTD

No ‘girls club’ in the top boardrooms

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Original article by Damon Kitney
The Australian – Page: 19 & 22 : 3-Mar-16

An Australian Council of Superannuation Investors report in 2015 showed that women accounted for almost 40 per cent of the directors who were appointed by S&P/ASX 100 companies in the previous 12 months. However, about 50 per cent them already held directorships at other companies. Australian Institute of Company Directors chair Elizabeth Proust rejects suggestions of a "girls club" at ASX 100 companies, but she advises against women stepping down from executive roles in order to become non-executive directors.

CORPORATES
AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, STANDARD AND POOR’S ASX 100 INDEX, PERPETUAL LIMITED – ASX PPT, SPOTLESS GROUP HOLDINGS LIMITED – ASX SPO, WESTPAC BANKING CORPORATION – ASX WBC, BANK OF MELBOURNE LIMITED, NESTLE AUSTRALIA LIMITED, KKR AND COMPANY LP, SINCLAIR KNIGHT MERZ PTY LTD, McALEESE LIMITED – ASX MCS, PREMIER INVESTMENTS LIMITED – ASX PMV, BRADKEN LIMITED – ASX BKN, DOWNER EDI LIMITED – ASX DOW, PACIFIC BRANDS LIMITED – ASX PBG, ALE PROPERTY GROUP – ASX LEP, CARDNO LIMITED – ASX CDD, ANSELL LIMITED – ASX ANN, SEEK LIMITED – ASX SEK, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, MYER HOLDINGS LIMITED – ASX MYR, FORTESCUE METALS GROUP LIMITED – ASX FMG, CROWN RESORTS LIMITED – ASX CWN

Giant of yachting and wine dies at 87

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Original article by Leo Shanahan, Gina Rushton
The Australian – Page: 1 & 4 : 11-Jan-16

Yachting Australia president Matt Allen and journalist D.D. McNicoll have praised Australian businessman Robert Oatley, who died at the age of 87 on 10 January 2016. Oatley was estimated to be the nation’s 49th richest individual by "BRW" in 2015, with personal wealth of around $A1bn. Oatley was the founder of wine producer Rosemount Estate, although he is best known as the owner of Sydney-to-Hobart winner "Wild Oats XI".

CORPORATES
YACHTING AUSTRALIA, ROSEMOUNT ESTATES PTY LTD, SOUTHCORP LIMITED, HAMILTON ISLAND LIMITED

Reward those who take risks: Packer

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Original article by Damon Kitney, Christine Lacy
The Australian – Page: 3 : 21-Dec-15

Australian businessman James Packer says the nation must encourage entrepreneurship and innovation, and reward businesses and individuals for taking risks in order to succeed. He also stresses the need for Australia to have a quality education system in order to become a "smart country" following the end of the resources boom. Packer is holding talks with groups such as private equity firms regarding a proposal to delist Crown Resorts.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, QANTAS AIRWAYS LIMITED – ASX QAN, BHP BILLITON LIMITED – ASX BHP, SEEK LIMITED – ASX SEK

Tireless hero for innovation

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Original article by Jennifer Hewett
The Australian Financial Review – Page: 35 & 36 : 18-Dec-15

Business Council of Australia president Catherine Livingstone has been named the Business Person of the Year for 2015 by "The Australian Financial Review". Livingstone has been a keen advocate for a greater focus on innovation, and she has welcomed the Federal Government’s innovation statement under new Prime Minister Malcolm Turnbull. She also believes that tax reform should be a priority for the Government.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, TELSTRA CORPORATION LIMITED – ASX TLS, COCHLEAR LIMITED – ASX COH, AUSTRALIA. NATIONAL COMMISSION OF AUDIT, AUSTRALIA. DEPT OF THE TREASURY, VICTORIA. DEPT OF PREMIER AND CABINET, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, CSIRO

Year of the $3m CEO pay

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Original article by Edmund Tadros, Patrick Durkin
The Australian Financial Review – Page: 19 : 10-Dec-15

The annual executive salary survey of "The Australian Financial Review" shows that former Amcor CEO Ken MacKenzie was paid $A20.92m in 2015, making him the best-paid head of a listed company in the nation. Overall, Australia’s 300 highest-paid CEOs have received a combined pay increase of five per cent in 2015, and the average annual salary of the top CEOs has exceeded $A3m for the first time. Some 31 of the highest-paid CEOs have stepped down in 2015, which significantly bolstered their remuneration for the year.

CORPORATES
AMCOR LIMITED – ASX AMC, STANDARD AND POOR’S ASX 200 INDEX, CIMIC GROUP LIMITED – ASX CIM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, TELSTRA CORPORATION LIMITED – ASX TLS, MYER HOLDINGS LIMITED – ASX MYR, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, EGAN ASSOCIATES MANAGEMENT CONSULTANTS, MACQUARIE GROUP LIMITED – ASX MQG, JAMES HARDIE INDUSTRIES PLC – ASX JHX, NEWS CORPORATION – ASX NWS, MIRVAC GROUP – ASX MGR, IMPEDIMED LIMITED – ASX IPD, 1-PAGE LIMITED – ASX 1PG, BLACKMORES LIMITED – ASX BKL, VITA GROUP LIMITED – ASX VTG, QANTAS AIRWAYS LIMITED – ASX QAN, AUSNET SERVICES LIMITED – ASX AST, ANSELL LIMITED – ASX ANN, ALS LIMITED – ASX ALQ, DOWNER EDI LIMITED – ASX DOW

Capex buried in wake of mining crash

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Original article by Jacob Greber
The Australian Financial Review – Page: 4 : 27-Nov-15

Data from the Australian Bureau of Statistics shows that the business sector’s overall capital expenditure fell by a higher-than-expected 9.2 per cent in the September 2015 quarter. Capex by mining companies fell by 10.4 per cent during the period, while non-mining investment was 8.2 per cent lower. However, capex in the manufacturing sector increased by 6.9 per cent. Total capex for Australian companies in 2015-16 is expected to top $A120bn, which is 21 per cent lower than previously.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICSMORGAN STANLEY AUSTRALIA LIMITEDRESERVE BANK OF AUSTRALIABHP BILLITON LIMITED – ASX BHPFORTESCUE METALS GROUP LIMITED – ASX FMGCHEVRON CORPORATIONBARCLAYS BANK PLC

Unpaid intern replaces redundant worker

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Original article by Misa Han
The Australian Financial Review – Page: 7 : 7-Aug-15

The Productivity Commission has warned Australian companies against using unpaid interns. The commission states in a report released on 5 August 2015 that interns should not be used as free labour. Interns Australia would like the matter to be considered through a parliamentary inquiry.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, INTERNS AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. FAIR WORK OMBUDSMAN, FEDERAL CIRCUIT COURT OF AUSTRALIA, CROCMEDIA PTY LTD, UNIONS NSW, AUSTRALIAN LABOR PARTY