'I didn't do the right thing,' former tennis great and BBY director Ken Rosewall tells court
Former tennis great Ken Rosewall has told a Supreme Court examination into the collapse of his family's stockbroking firm BBY that he didn't do enough to arrest a decline in the fortunes of the business.Mr Rosewall appeared on Wednesday at a liquidators' examination into the spectacular demise of the Sydney-based BBY, which collapsed in May last year owing an estimated $61 million to creditors. Former tennis legend and BBY Director Ken Rosewall outside the Supreme court on Wednesday. Photo..>> view originalNAB forms tech alliance with banks in Canada, Israel
Jon Davey says NAB wants to boost cyber security capability by working with Israeli start-ups. Josh Robenstone National Australia Bank has formed a strategic alliance with Bank Leumi of Israel and CIBC Bank of Canada which will result in the sharing of some design and development costs for new banking products and digital services and provide access to each other's fintech relationships. As part of the "international banking innovation allianc..>> view originalOECD Interim Economic Outlook: Rates are low, so borrow and spend
The Organisation for Economic Cooperation and Development has pointed to a way out of what it calls a "low-growth trap" where persistently weaker than expected growth feeds back into expectations and lowers growth still further.Its suggested solution, in its interim economic outlook released in Paris, is for governments to ramp up borrowing, taking advantage of the "fiscal space" created by historically low interest rates that have cut interest payments. OECD Secretary-General Angel Gurria..>> view originalWesfarmers' Richard Goyder sees pay halved after dismal year
The profit collapse that Wesfarmers' reported last month – thanks to writedowns on its coal business and its poorly performing retail chain, Target – was always going to put a dent in the pay of the conglomerate's chief, Richard Goyder. Wesfarmers' annual report revealed on Wednesday that Goyder's remuneration nearly halved to less than $5.5 million for the year ending June 30, down from $9.8 million the prior year. More Business Videos Previous slide Next slide Target..>> view originalGPT weighs redevelopment of Highpoint, including possible hotel
GPT Group is looking to expand its Highpoint shopping centre in Melbourne's west with the potential addition of a hotel, among other options.While its plans have not been finalised, Highpoint will look to take on the new-look Chadstone shopping centre across town in Melbourne's south-east, where Vicinity Centres is also planning a hotel as part of its major works. More Business Videos Previous slide Next slide Inside Chadstone's $660m expansion Monsanto, Bayer..>> view originalKathmandu bounces back, eyes overseas expansion
Kathmandu CEO Xavier Simonet says a 64 pct rebound in profit in 2016 proved the business model was not broken. Josh Robenstone Adventure-wear chain Kathmandu is taking a leaf out of the playbook of online retailer Surfstitch, using social media and digital content to encourage customers to spend more on fleeces, hiking boots and sleeping bags.After successfully defending a $324 million takeover offer last year, Kathmandu is relaunching its web..>> view originalBanks lead ASX higher as Bank of Japan targets yields
Shares rallied across the Asian region following the Bank of Japan's decision to maintain its bond-buying pace and keep interest rates on hold ahead of the US Federal Reserve's meeting on Wednesday night. Investors piled into banking stocks both in Australia and in Japan, after the Japanese central bank introduced a target for the country's bond yield curve, sparking a selloff in bonds. After a drawn-out meeting, the Bank of Japan announced it would keep interest rates on hold at negative..>> view originalOne in three Australian workers now regularly works from home
More Australians than ever before are regularly working from home in their main job, the top reason being the need to catch up on unfinished work.An analysis of Australian Bureau of Statistics data reveals the number of employed people who work from home has dramatically risen from 20 per cent of the entire labour force to 30 per cent in 15 years. Luke Driver, with his sons, Jack, 2, and Xavier, 8 months, often works from home. Photo: Janie Barrett Now, nearly half of the 3.5 million pe..>> view originalBHP Billiton's Singapore tax bill hits $1.4b
BHP Billiton CFO Peter Beaven says the Singapore tax dispute is over valuations and not tax avoidance and the company is very confident of its position. Wayne Taylor The tax and royalties bill for BHP Billiton's Singapore controversial marketing operation has hit close to $1.4 billion with ongoing audits likely to push the total higher.BHP Billiton chief financial officer Peter Beaven said the tax dispute was a debate about valuations rather th..>> view originalAC Milan's Chinese buyers showed false bank letter, lender says
The Chinese investor group seeking funds to buy AC Milan, the soccer club owned by former Italian premier Silvio Berlusconi, provided a false bank report during its initial deal negotiations, according to a statement from the lender whose name appears on the documents.Berlusconi's Fininvest agreed last month to sell the team to a group of little-known Chinese investors for €740 million ($1.1 billion), including debt. Apparently the Chinese consortium didn't have all the financing in place..>> view original
Sunday, September 25, 2016
'I didn't do the right thing,' former tennis great and BBY director Ken Rosewall tells court and other top stories.
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