09 Apr COLLABORATION BREAKING DOWN BARRIERS; DIVIDEND CUT TO HURT SHAREHOLDERS
- France’s market regulator is considering extending the controversial short-selling ban implemented in March to reduce volatility in equity markets. Italy, Spain, Belgium, Austria and Greece have also implemented a ban on short-selling -not so in the UK and Germany t. Read the Financial Times article here. (Subscriber access)
- For anyone who has been grappling with videoconferencing, fashion designer Tom Ford has put together a helpful guide on How to Look Good on Camera. It takes “lots of powder”. Check it out in the New York Times.
Australian company news
- Companies announce equity raisings / affirm profit ahead of long weekend
- Collaboration breaking down industry barriers
- Following the ACCC’s suspension of anti-competitive restrictions, private health insurers are meeting today to discuss how they will return excess profits to members, given they’re expecting health claims to fall due to the ban on non-elective surgery. Read the AFR article here. (Subscriber access)
- Pressure on commercial media continues
- Foxtel is the latest commercial media outlet to announce job cuts as revenue continues to shrink. Foxtel says it will axe 200 jobs, with another 140 staff to be stood down. Read more here in the AFR.
- Also in media, commercial radio broadcasters are joining the push by media companies to get the Federal Government to sign off on a crisis relief package and provide spectrum license fee relief for two years. Read more in The SMH here. (Subscriber access)
- Dividend cut to hurt shareholders
- Plans by Australia’s big banks to announce $8 billion in dividends later this month will likely be scrapped following APRA’s urge to cut dividends to strengthen balance sheets. The AFR reports banks will be looking at all options given the sub-optimal outcome for investors, with some suggestions Macquarie and CBA may be able to convince APRA to reward shareholders. Rio Tinto has announced it won’t cut dividends given its “full” iron ore book and the need to look after retail shareholders. (Subscriber access)
- Universities are being urged to be more vocal
- Veteran business commentator Robert Gottliebsen predicts some smaller universities may be forced to close, as they struggle with lower revenue and limited support from the Federal Government, impacting the sector’s international competitiveness and diplomatic relations. Read the full article in The Australian. (Subscriber access)
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