BRITISH – AUSTRALIA

Embattled Purplebricks to quit Australian market

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 29 : 8-May-19

UK-based online real estate agent Purplebricks has advised that its Australian operations will be discontinued, citing factors such as challenging market conditions. Purplebricks entered the local market in September 2016, with co-founder and global CEO Michael Bruce forecasting that the Australian business would succeed. However, its fixed-fee sales model proved to be problematic for real estate agents, particularly given the downturn in the housing market.

CORPORATES
PURPLEBRICKS AUSTRALIA PTY LTD, PURPLEBRICKS GROUP PLC, UBS HOLDINGS PTY LTD

Gupta to make 20,000 Aussie electric cars

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Original article by Simon Evans
The Australian Financial Review – Page: 14 & 18 : 30-Apr-19

British billionaire Sanjeev Gupta has indicated that GFG Alliance will announce further details of its plans to build electric cars in Australia within weeks. Gupta says the company aims to build between 10,000 and 20,000 electric cars in Australia, adding that he is of the view that the nation should be a manufacturer of such vehicles rather than just importing them. He also says the price of electric cars is likely to fall over time as more consumers embrace the technology.

CORPORATES
GFG ALLIANCE, GORDON MURRAY DESIGN, ARRIUM LIMITED, ARCELOR MITTAL SA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Gupta plans bank for businesses

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Original article by Luke Griffiths
The Australian – Page: 6 : 1-Jun-18

British billionaire Sanjeev Gupta wants to start a business-focused bank in Australia, and is looking at possible acquisition targets. Gupta’s GFG Alliance operates Wyelands Bank in the UK, which targets small and medium businesses, and Gupta says his proposed Australian bank would have a similar focus. Australian Industry Group CEO Innes Willox says such a bank would be welcomed, particularly as borrowing might become harder in the wake of the banking royal commission.

CORPORATES
GFG ALLIANCE, WYELANDS BANK, THE AUSTRALIAN INDUSTRY GROUP, ZEN ENERGY PTY LTD, TUNGSTEN BANK, DIAMOND BAY CLEANING SERVICES, BAILLIEU HOLST LIMITED, ARRIUM LIMITED, GLENCORE AUSTRALIA PTY LTD, DIAMOND BANK

Investor sells out as fear of bank tax grows

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Original article by Andrew White, Michael Owen
The Australian – Page: 1 & 4 : 31-Oct-17

Jupiter Fund Management’s Asian Fund has sold down some of its Australian financial services investments, in part due to concern about South Australia’s proposed bank tax. If the tax is imposed, it has been estimated that it will cost the big four banks and Macquarie $A417 million over four years. The tax is due to be considered by South Australia’s upper house during the week ending 3 November, with the government needing the support of cross-bench MPs to get the tax approved.

CORPORATES
JUPITER MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE, AUSTRALIAN CONSERVATIVES, AUSTRALIAN GREENS, AUSTRALIA. PRODUCTIVITY COMMISSION, DIGNITY PARTY, AUSTRALIAN BANKERS’ ASSOCIATION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, BUSINESS SA, AUSTRALIAN LABOR PARTY

Offshore bank investors fret over housing: Elliott

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Original article by James Eyers
The Australian Financial Review – Page: 8 : 2-Jun-17

ANZ Bank CEO Shayne Elliott says UK investors with stakes in Australian banks are worried that recent regulatory changes to housing policy in Australia may lead to a market correction. Elliott, who was speaking at a G100 conference in Sydney, also said that comments by Federal Treasurer Scott Morrison that Australia’s large banks are "an oligopoly" were unhelpful, noting that there are other sectors in Australia that are just as concentrated as banking.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF THE TREASURY

Oil bonanza hopes sink as BP abandons $1.4bn search

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Original article by Barry FitzGerald
The Australian – Page: 2 : 12-Oct-16

Greenpeace and the Australian Greens have welcomed BP’s decision to terminate its oil exploration program in the Great Australian Bight. However, BHP has attributed the decision to factors such as the downturn in the crude oil price rather than pressure from environmentalists. Matthew Doman of the Australian Petroleum Production & Exploration Association says development of the Great Australian Bight’s oil fields would boost investment and employment in South Australia.

CORPORATES
BP PLC, GREENPEACE, AUSTRALIAN GREENS, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, THE WILDERNESS SOCIETY, NICK XENOPHON TEAM, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Just Eat paid ‘crazy’ amount for Menulog, say Delivery Hero

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 18 : 25-May-15

Delivery Hero CEO Clive Thorpe believes that about $A400m would have been a more appropriate sale price for Australian online food delivery group Menulog. UK-based Just Eat has agreed to pay $A855m for Menulog, which had 6.3 million orders in the year to March 2015. In contrast, Delivery Hero recently paid $US589m ($A752m) for Turkey-based Yemeksepeti, whose monthly orders exceed three million.

CORPORATES
MENULOG PTY LTD, JUST EAT LIMITED, DELIVERY HERO HOLDING GMBH, YEMEKSEPETI, ORIENTAL TEA HOUSE, DAVID’S, EAT NOW SERVICES PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Barclays Bank firing up in Australia

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Original article by Aaron Patrick
The Australian Financial Review – Page: 27 : 5-Mar-15

UK-based Barclays Bank intends to significantly expand its presence in Australia’s investment banking industry. It will target sectors such as health and aged care, resources and agribusiness. Barclays boasts a market capitalisation of Stg43bn, and its assets totalled Stg1.3trn ($A2.5trn) at the end of 2013. It has just 100 employees in Australia, and a global workforce of more than 139,000

CORPORATES
BARCLAYS BANK PLC, MACQUARIE CAPITAL PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, UBS HOLDINGS PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, DEUTSCHE BANK AG, RAMSAY HEALTH CARE LIMITED – ASX RHC, CREDIT AGRICOLE SA, PORT OF MELBOURNE, LEHMAN BROTHERS INCORPORATED, LONDON STOCK EXCHANGE, SOUTH32 LIMITED, BHP BILLITON LIMITED – ASX BHP, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

William Hill bets on 80-year-old brand

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Original article by Jessica Gardner
The Australian Financial Review – Page: 17 : 21-Jan-15

The William Hill brand will replace those of Sportingbet, Tom Waterhouse and Centrebet in Australia in the months ahead. The 80-year-old UK group, which is named for its founder, will begin with the Sportingbet name in February 2015. William Hill will foster awareness of its own brand by increasing its Australian marketing budget by $A10 million. Plans for the name change had been abandoned by Sportingbet founder Michael Sullivan, then-CEO of William Hill Australia, in October 2013

CORPORATES
WILLIAM HILL AUSTRALIA PTY LTD, WILLIAM HILL LIMITED, SPORTINGBET AUSTRALIA PTY LTD, CENTREBET INTERNATIONAL LIMITED, SBET AUSTRALIA PTY LTD, SPORTINGBET PLC, TOM WATERHOUSE (VIC) PTY LTD, TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, BETEASY PTY LTD, LADBROKES GROUP PLC, PADDY POWER PLC