STRATEGIC PLANNING – AUSTRALIA

Hartzer to slim down a higher-tech Westpac

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Original article by Clancy Yeates, James Eyers
The Australian Financial Review – Page: 1 & 6 : 8-Sep-15

Westpac CEO Brian Hartzer has ruled out large-scale branch closures, although he has conceded that some branches are likely to be closed as the shift toward online banking gains momentum. Hartzer has also flagged plans to increase the banking major’s investment in technology, as part of a strategy to boost overall investment by 20 per cent. Westpac will also seek to ensure that its return on equity remains above 15 per cent.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, UBS HOLDINGS PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, BANK OF MELBOURNE LIMITED, BANK OF SOUTH AUSTRALIA LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Viva Energy mulls real estate trust spin-off

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 19-Aug-15

Viva Energy intends to spend $A1 billion on investments. Viva CEO Scott Wyatt said on 18 August 2015 that the company will consider the creation of a real estate trust which would hold about 420 properties. Proceeds from the float would be channelled into the Geelong refinery, the supply chain and the marketing business.

CORPORATES
VIVA AUSTRALIA PTY LTD, SHELL COMPANY OF AUSTRALIA LIMITED, BANK OF AMERICA MERRILL LYNCH, CALTEX AUSTRALIA LIMITED – ASX CTX, COLES EXPRESS, VITOL SA, ABU DHABI INVESTMENT COUNCIL, DEUTSCHE BANK AG

Myer still a fashionable number

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Original article by Sue Mitchell
The Australian Financial Review – Page: 3 : 14-Aug-15

Myer’s spring parade on 13 August 2015 featured 27 brands. The Australian-listed retailer is in the process of changing its business model. Myer CEO Richard Umbers and chief merchandise and marketing officer Daniel Bracken believe that sales could be revived by focusing on fewer but stronger brands. In July 2015, the company removed about 100 national and international brands from its offer while adding new labels such as Aje, Daniel Avakian, Jack & Jones, and Calvin Klein White Label.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, CALVIN KLEIN INCORPORATED, SNAPCHAT INCORPORATED, INSTAGRAM LLC, TWITTER INCORPORATED, FACEBOOK INCORPORATED

Myer still a fashionable number

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Original article by Sue Mitchell
The Australian Financial Review – Page: 3 : 14-Aug-15

Myer’s spring parade on 13 August 2015 featured 27 brands. The Australian-listed retailer is in the process of changing its business model. Myer CEO Richard Umbers and chief merchandise and marketing officer Daniel Bracken believe that sales could be revived by focusing on fewer but stronger brands. In July 2015, the company removed about 100 national and international brands from its offer while adding new labels such as Aje, Daniel Avakian, Jack & Jones, and Calvin Klein White Label.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, CALVIN KLEIN INCORPORATED, SNAPCHAT INCORPORATED, INSTAGRAM LLC, TWITTER INCORPORATED, FACEBOOK INCORPORATED

Rio capex cut to shore up pay-outs

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Original article by Amanda Saunders
The Australian Financial Review – Page: 1&12 : 7-Aug-15

Rio Tinto has reported a 43 per cent decline in underlying earnings to $US2.9 billion for the first half of 2015, compared with $US5.1 billion in the previous corresponding period. Commenting on the results, CEO Sam Walsh said that Rio will reduce capital investment by at least $US2.5 billion over two years. He assured investors that the cuts will not affect the company’s growth prospects.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, UBS AG, DEUTSCHE BANK AG, X2 RESOURCES PARTNERS LP

Virgin, Qantas expand regional air fleets as rivals struggle

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Original article by Jamie Freed
The Australian Financial Review – Page: 13 : 3-Aug-15

Virgin Australia Regional Airlines will increase its capacity following the $A15.1m acquisition of two Fokker 100s. Alliance Aviation Services secured a deal to sell the airplanes in May 2015, but the identity of the buyer had not previously been disclosed. Qantas has also been actively increasingly its fleet of aircraft servicing regional routes, and has advised that the Network Aviation airline in Western Australia will adopt the QantasLink name.

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, VIRGIN AUSTRALIA REGIONAL AIRLINES PTY LTD, QANTAS AIRWAYS LIMITED – ASX QAN, NETWORK AVIATION PTY LTD, QANTASLINK, ALLIANCE AVIATION SERVICES LIMITED – ASX AQZ, BHP BILLITON IRON ORE PTY LTD, BHP BILLITON LIMITED – ASX BHP, ADITYA BIRLA MINERALS LIMITED – ASX ABY, CONSOLIDATED MINERALS LIMITED, REGIONAL EXPRESS AIRLINES, REGIONAL EXPRESS HOLDINGS LIMITED – ASX REX, SKYWEST AIRLINES LIMITED

ANZ offers women free super advice

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Original article by Ruth Liew
The Australian Financial Review – Page: 3 : 29-Jul-15

It is estimated that Australian women who work full-time are paid about $A15,000 less each year than their male peers. Women also tend to have about 50 per cent less in superannuation upon retirement. The ANZ Bank has launched initiatives aimed at addressing this imbalance. Female customers whose super balance is less than $A50,000 will be offered free financial advice. ANZ’s female employees will also be paid an additional $A500 in super each year.

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

Deloitte’s dumping of performance reviews leaves employees ecstatic

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Original article by Agnes King
The Australian Financial Review – Page: 14 : 29-Jul-15

Big four accounting firm Deloitte Australia will completely phase out traditional twice-yearly employee performance reviews by mid-2016. The firm is testing a new system of ongoing performance appraisals in its audit, risk and consulting divisions, which employ about 1,500 people. Deloitte will eventually roll out the new system for all 6,000 employees. Fairfax Media CEO Greg Hywood also favours a system of continuous performance appraisal.

CORPORATES
DELOITTE TOUCHE TOHMATSU LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AMERICAN CHAMBER OF COMMERCE IN AUSTRALIA, MICROSOFT CORPORATION, ACCENTURE AUSTRALIA LIMITED, SEEK LIMITED – ASX SEK, CISCO SYSTEMS INCORPORATED

Suppliers shocked as DJs and Myer dump brands

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Original article by Sue Mitchell
The Australian Financial Review – Page: 21 : 29-Jul-15

Myer Holdings recorded sales growth of 1.7 per cent in the 10 months to April 2015. The department store group hopes to boost sales by introducing a range of new brands, including Calvin Klein White Label and Oscar de la Renta. However, this will be at the expense of about 100 brands which will no longer be stocked. David Jones also discontinued some brands earlier in 2015. It recorded sales growth of more than 10 per cent in the first half of 2015.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, CALVIN KLEIN INCORPORATED, OSCAR DE LA RENTA, DANIEL AVAKIAN, AJE, JACK AND JONES, FCUK, COUNTRY ROAD LIMITED, TRENERY, SEED

BHP to cut 37pc of jobs in Melbourne

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Original article by Matthew Stevens, Amanda Saunders
The Australian Financial Review – Page: 15 & 20 : 29-Jul-15

BHP Billiton is expected to retrench, relocate or redeploy about 100 employees at its head office in Melbourne in the next 18 months. The resources group has previously shed about 80 jobs at the Melbourne office, and the latest proposed cuts are likely to reduce staff numbers to about 300. BHP also intends to make cutbacks in other areas, including its legal and corporate affairs teams, while its Treasury division will be relocated to the UK.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SOUTH32 LIMITED – ASX S32