US oil company Apache has decided on a multi-billion dollar sell-up of non-US assets which will see it divest its stake in Chevron’s $29 billion Wheatstone liquefied natural gas project as well as potentially other assets in Western Australia.
Our future might be in safe hands, with Australian teenagers rating very well in a global survey of financial literacy, but the rest of us might be thankful for a new national plan aimed at helping us manage our money better.
Shareholders are bracing for a steep fall at the open of trading on Friday after Wall St suffered its worst decline since April overnight as Argentina’s default added to a growing list of geopolitical worries and investors fretted over the potential for the US Federal Reserve to raise rates sooner than expected.
No wonder he is known as the man with the Midas touch. As rag-trader Solomon Lew banks profits of $191 million from his stakes in David Jones and Country Road, shares in his listed investment vehicle Premier Investments have soared to near record levels as investors wait to see what the $2 billion man will do next.
The corporate watchdog has warned directors they bear ultimate responsibility over a company's affairs and will therefore be held to account if anything goes wrong.
Local shares are set to drop at the open, as a wave of negative sentiment overwhelmed shares in Europe and on Wall Street overnight.
''You've only got a few hours left, so we can be entirely honest and frank. Banks are bastards, aren't they?''
The big institutions all knew that there was a trade-off involved in Woodside's plan to assist Shell's exit from its register with a $2.7 billion selective share buyback.
Americans are going wild about sangria, but rather than drinking their own they are increasingly reaching for an Australian brand from the Riverina district.
Medical device maker ResMed will reveal on Friday whether its push to regain share in the sleep apnoea therapy market has boosted sales, but what investors are waiting for are details on new product releases.