Business News

5 things you need to know today

  • Rio Tinto has appointed Simon Thompson as chairman. Thompson, who joined the Rio Tinto board as a non-executive director in 2014, will become chairman on 5 March 2018. He succeeds Jan du Plessis who will step down as chairman and from the Rio Tinto board on the same date after serving almost nine years as chairman. Thompson has over 20 years’ experience working across five continents in the mining and metals industry.
  • Grocery wholesaler Metcash has this morning announced an increase in half-year profit of 24% to $92.9 million. Sales revenue for the period rose 7.6% to $7.1 billion, from $6.6 billion in the prior year when it received only one month of sales from Home Timber & Hardware. Metcash declared a fully franked interim dividend of six cents per share, compared to no dividend in the 2017 financial year.
  • A class action that will allege Crown Resorts failed in its continuous disclosure obligations as an ASX-listed company and also that it engaged in misleading and deceptive conduct in its public statements about the prospects in the Chinese market, will be officially launched this week by plaintiff law firm Maurice Blackburn, according to reports in the Fairfax press. It claims investors were then harmed when Crown Resort shares fell 14% in a day following the news that 18 of its employees were detained in a police sting covering several Chinese cities targeting allegedly illegal marketing of gambling junkets.
  • The people are not keen for a prime ministerial leadership change between elections, according to the latest Fairfax-Ipsos poll, with 71% of those polled opposing the government changing leaders between elections which jumps to 80% among Coalition voters. The latest poll shows the government trailing Labor 53% to 47% on a two-party preferred basis.


Published on: Monday, December 04, 2017

blog comments powered by Disqus

New on Switzer