STRATEGIC PLANNING – AUSTRALIA

Macquarie’s plan to grab more market share in deposits

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Original article by James Eyers
The Australian Financial Review – Page: 19 : 11-Feb-26

Data from the Australian Prudential Regulation Authority shows that Macquarie Bank’s household deposits topped $100bn for the first time in December. Macquarie’s deposits grew by 3.6 per cent in December, outperforming all other banks. Head of personal banking Ben Perham says Macquarie aims to increase its market share with regard to term deposits, which is curently one per cent; in contrast, its share of transaction and savings accounts is now seven per cent. Meanwhile, its home loan market share has risen to 6.8 per cent, and Perham says it is approving mortgage loans "considerably faster" than other lenders.

CORPORATES
MACQUARIE BANK LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

New BlueScope boss open to company carve-up

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Original article by Simon Evans
The Australian Financial Review – Page: 15 & 18 : 3-Feb-26

BlueScope Steel’s new CEO Tania Archibald announced plans to reduce costs by $150m on her first day in the role. Owen Birrell from RBC Capital Markets estimates thar this represents potential gains of $3 per share. Archibald has also indicated that the listed steelmaker will consider all options for delivering more value to shareholders, which could potentially include demerging its North American business. Archibald has also defended BlueScope’s belated decision to disclose the takeover bid from SGH and Steel Dynamics, stating that the company is "very comfortable" with the position it took. BlueScope has formally rejected the takeover bid.

CORPORATES
BLUESCOPE STEEL LIMITED – ASX BSL, SGH LIMITED – ASX SGH, STEEL DYNAMICS INCORPORATED

After 25 years, Trott gets his shot at Rio Tinto

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 3-Dec-25

Rio Tinto CEO Simon Trott will present his strategy for the mining company on Thursday after just under 100 days in the role, although he has been with the company for 25 years. Those 100 days have seen him make some quick changes that appointments from within a company can often make, while Morgan Stanley analysts state they expect Trott to use the strategy day to outline a move towards a streamlined structure with lower costs and a prioritisation of cash generation. They suggest that cash flow could be improved by as much as $US1 billion ($1.5 billion) per year by cost cutting.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Squeeze is on for Nine executive to get more juice out of the fruit

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 17 : 19-Nov-25

Nine Entertainment’s streaming and broadcast division generated 78 per cent of the group’s revenue and two-thirds of EBITA in 2024-25, when Domain is excluded from the results; free-to-air TV accounted for the bulk of the division’s revenue. Nine’s managing director of streaming and broadcast, Amanda Laing, faces the challenge of cutting costs while managing both the decline of free-to-air TV and the growth of free and subscription-based streaming video. She recently retrenched 50 employees within the division, and has not ruled out further job cuts; however, she has emphasised the need to transform the division, rather than simply reducing costs.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Investors back Matos to clean up the ANZ mess

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Original article by James Eyers
The Australian Financial Review – Page: 17 : 17-Sep-25

The ANZ Bank’s share price fell by just 0.6 per cent on Tuesday, despite growing scrutiny over the lender in the wake of a recorded $240m financial penalty for misconduct. Montgomery Investment Management’s chairman Roger Montgomery says investors are betting that the strategy of ANZ’s relatively new CEO Nuno Matos will succeed in closing the valuation gap with its peers. Jon Mott from Barrenjoey in turn says Matos has a clear mandate to implement his turnaround strategy.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MONTGOMERY INVESTMENT MANAGEMENT PTY LTD, BARRENJOEY CAPITAL PARTNERS PTY LTD

Rio reveals 80-year plan for Pilbara iron ore mines

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 29-Jul-25

Rio Tinto is seeking environmental approval from the Western Australian government for its East Pilbara Strategic Proposal. Rio Tinto has stated that the EPSP covers potential future developments in the region over the next eight decades, including iron ore mining and renewable energy projects, as well as supporting infrastructure. BHP secured approval for a similar proposal in the Pilbara in 2019, which enabled project approvals to be streamlined. Rio Tinto’s long-term commitment to the Pilbara is in contrast to recent warnings from Fortescue’s founder Andrew Forrest that the region is at risk of becoming a ‘wasteland’

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP GROUP LIMITED – ASX BHP, FORTESCUE LIMITED – ASX FMG

More AI, fewer staff for Telstra

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Original article by Joseph Carbone
The Australian – Page: 13 & 16 : 28-May-25

Telstra CEO Vicky Brady revealed details of the telco’s Connected Future 30 strategy on Tuesday. The five-year strategy includes using artificial intelligence and cloud technology to enhance its communications network and deliver a better experience for customers. Telstra will also aim to increase its strategic net promoter score to more than 50 per cent by 2030. However, Brady conceded that the increased use of AI will result in more job losses at Telstra. She also responded to claims that Telstra has overstated the size of its mobile network, stating that the telco stands by its claim that it provides three million square kilometres of coverage without the need for an external antenna.

CORPORATES
TELSTRA GROUP LIMITED – ASX TLS

BHP dividend slumps to eight-year

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Original article by Peter Ker
The Australian Financial Review – Page: 14 : 19-Feb-25

BHP has posted a 2024-25 underlying interim profit of US5.08bn ($7.98bn), which is 23 per cent lower than previously. Lower commodity prices weighed on the half-year result, while shareholders will receive an interim dividend of $US0.50 per share; this is BHP’s lowest half-year dividend payout since 2017. Meanwhile, CEO Mike Henry says the resources giant will focus on organic growth projects within its existing portfolio, rather than pursuing acquisitions. He notes that it is increasingly challenging to undertake large global mergers and acquisitions for shareholder value in the current market, which may rule out another bid for Anglo American. BHP is also reducing its reliance on iron ore by increasing its investment in commodities such as copper and potash.

CORPORATES
BHP GROUP LIMITED – ASX BHP, ANGLO AMERICAN PLC

Lithium rollercoaster decade: IGO

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 13-Sep-24

Data from S&P Global Platts shows that spodume was fetching $US730 per tonne on Wednesday, compared with a peak of more than $US8,000 in early 2023. IGO CEO Ivan Vella says investors should expect further volatility in the price of lithium over the long-term. Vella adds that battery minerals will continue to be the focus for IGO, which produces both lithium and nickel. However, IGO aims to diversify its operations by expanding into copper production; this will help offset the "extreme" volatility of the lithium sector and the structural changes in the nickel market caused by Indonesia’s move to ramp up production with Chinese backing.

CORPORATES
IGO LIMITED – ASX IGO, S&P GLOBAL PLATTS

‘Huge demand’: Australia’s largest design firm expands worldwide

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Original article by Michael Bleby, Patrick Duffy
The Australian Financial Review – Page: Online : 2-Jul-24

Sarah Kay is the new CEO of Woods Bagot, which is Australia’s largest architecture firm. She notes that the company has a very large share in what is one of the world’s smallest markets, namely Australia, and so it is seeking to boost its market share in larger markets such as Europe and North America. Woods Bagot is privately owned with 60 partner owners, and Kay says that it intends to remain independent at what she says is a time of consolidation within the architecture and engineering sector. Woods Bagot opened its London-based Customs Bureau hotel unit in 2022 to service what Kay says is the "huge demand"for luxury hospitality in Europe and the Middle East.

CORPORATES
WOODS BAGOT PTY LTD