BHP Billiton declares commodity prices have stopped falling after big loss
BHP Billiton has committed to growing cash flow and has declared commodity prices have stopped falling, after slashing its dividend and posting its biggest loss since the miner was formed through a merger in 2001.After announcing a $US6.38 billion ($8.27 billion) loss for the 2016 financial year, BHP chief executive Andrew Mackenzie said free cash flow would almost double to $US7 billion in fiscal 2017 if current commodity prices persisted.He said his agenda of productivity improvements and co..>> view originalHome sales a windfall for Mirvac
Home sales a windfall for MirvacTrevor ChappellAAP2:57PM August 16, 2016SaveBooming home sales have helped Mirvac deliver a 69 per cent jump in annual profit, with the property group saying rising demand for capital city houses and apartments will drive earnings further this year.Strong residential demand and office asset sales helped Mirvac book an annual net profit of $1.03 billion on Tuesday, while operating profit lifted by six per cent to $482 million.The earnings contribution from Mirvac's..>> view originalVictoria apartment standards: navigating flexibility, safeguards and cost
No minimum sizes: But Victoria's new proposed apartment guidelines have to tread a line between safeguards, flexibility and cost. Craig Abraham The Victorian government's decision not to mandate minimum apartment sizes has angered architects and pleased developers."Size on its own isn't a determinant of quality, but all rules are about setting a bar at a particular point which is going to weed out, you would hope, the worst," said Vanessa Bir..>> view originalRBA strategy has been hit and miss
Reserve Bank of Australia governor Glenn Stevens and his board are using easy policy and a weaker currency to encourage growth in services like tourism and education amid the winding down of a once-in-a-century mining boom.The strategy has been hit and miss: while the economy has grown faster than the central bank predicted and unemployment remained under 6 per cent, core inflation and wage growth are both at record lows and there's little sign of a pick-up in business investment. The RBA ..>> view originalDomino's Pizza profit rises 28.7 per cent
Domino's CEO Don Meij says innovation will continue to fuel "extraordinary" growth" at Australia's largest pizza chain. Michele Mossop "In my 29 years in the business I haven't seen something like this,' says Domino's Pizza chief executive Don Meij.In a matter of months, a group of Domino's franchisees has doubled deliveries by using a combination of traditional innovation - hotter, faster ovens - and disruptive digital technologies such as..>> view originalRadhika Oswal tells court: No, it's not my signature on documents
Radhika Oswald leaving the Supreme Court in Melbourne on Tuesday. Photo: AAP An allegedly forged signature, a finishing school in Switzerland and a fake fur coat – the battle between ANZ Bank and flamboyant Indian couple Pankaj and Radhika Oswal is heating up, with Mrs Oswal taking to the witness box to accuse the bank of pressuring her into signing a $US1 billion ($1.3 billion) guarantee. Mrs Oswal told the Supreme Court of Victoria ANZ had "gone nuts" when it asked her to guarantee n..>> view originalChallenger signs up ClearView Wealth and Suncorp to sell its annuities
Challenger CEO Brian Benari told shareholders the company is "uniquely placed" to profit from increased demand for annuities. Ryan Stuart Challenger has inked deals with Suncorp and ClearView Wealth that are tipped to turbo charge its booming annuities business.The new sales partnerships were unveiled on Tuesday as Challenger reported a 9.6 per cent jump in annual net profit to $327.7 million for the year ended June 30. The result was driven b..>> view originalFraudsters rip off Brisbane council: Lord Mayor not hopeful of recouping money
A furious Brisbane Lord Mayor Graham Quirk has conceded it was unlikely his council would ever see the $450,000 it paid to fraudsters after it fell victim to an elaborate scam.It was revealed late Monday night that the council was scammed out of more than $450,000 by fraudsters who posed as a supplier and changed the payment details. More News Videos Previous slide Next slide Council duped out of $450k Welfare check missed Mason Trams compared to 40 ..>> view originalMurray Goulburn backs milk price transparency plan to help dairy farmers
Embattled milk processor Murray Goulburn has backed a commodity milk price index as a way of providing more transparency for dairy farmers who are facing mounting debts after a price cut by the cooperative and followed by Fonterra. The Murray Goulburn board and its chairman, Philip Tracy, were called to a crisis meeting with Malcolm Turnbull and the deputy prime minister and agriculture minister, Barnaby Joyce, following a Coalition promise made during the election. While Joyce flagged nothing ..>> view original
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