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CFO Live

Impacts of the pandemic have given way to a new set of complex businesses conditions. How are CFO’s capitalising on growth opportunities in the face of rising inflation, low unemployment, energy transition pressures and supply chain issues?

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AFR

Navigating economic uncertainty

CFOs take centre stage as they chart their companies’ future in complex times.

CFO Live - Final release registration

CFO Live 2023 gathers top finance chiefs on how they’re boosting productivity, managing risk and charting the future of their companies in a complex economic environment.

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Featured

The ATO case adds to increased spotlight on the big four following the PwC tax scandal.

Why ASIC stopped naming and shaming the big four over audit quality

The corporate regulator has now flagged it is planning to begin reviewing the operations of the six largest firms from next year.

  • Edmund Tadros and Patrick Durkin
Super fund CEOs Paul Schroder (AustralianSuper), Debby Blakey (HESTA), Deanne Stewart (Aware Super), Vicki Doyle (Rest Super), Bern Reilly (Australian Retirement Trust) and Peter Chun (UniSuper) are actively engaging with company boards, which they say will improve the value of their investments.

Super fund CEOs put ASX on notice over workplace conditions

Industry super funds are using their $3.5 trillion asset pool to influence companies on decent work conditions, secure contracts and banning sexual harassment.

  • Updated
  • Hannah Wootton
Endeavour Group owns the Dan Murphy’s liquor chain, BWS and 354 hotels.

Big super funds against pubs billionaire’s Endeavour shake-up

The Australian Council of Superannuation Investors recommends a vote against Bruce Mathieson jnr and Bill Wavish in the Endeavour Group tussle.

  • Updated
  • Simon Evans and Carrie LaFrenz

Employment Hero secures $263m in year’s biggest capital raising

The human resources technology firm has shrugged off depressed private tech market sentiment and is now valued at just shy of $2 billion.

  • Paul Smith

The worrying rise in corporate busts

More businesses are looking down the barrel of insolvency, as an economic slowdown crimps sales and squeezes profit margins as borrowing costs soar.

  • Karen Maley
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This Month

‘It’s bad’: The 9.23pm moment ANZ’s $2.5b deal crumbled

Hedge funds screaming down the phone, 2.26am emails to the client, billions of dollars at risk and a late night “Oh, f---” moment. Justice Mark Moshinsky reveals what it was like inside ANZ’s deal room.

  • Updated
  • Anthony Macdonald
Treasury Wines ceo Tim Ford

Penfolds owner Treasury Wine hit with first strike over pay

Exiting chairman Paul Rayner defended share-based incentive payments to the CEO because China wine tariffs came as a shock that no one could have forseen.

  • Updated
  • Simon Evans
Activist investors are targeting the bonuses that Whitehaven plans to pay Paul Flynn.

Whitehaven activist targets executive pay but proxies back board

Whitehaven boss Paul Flynn’s pay is the new battleground in the battle with activist investor Bell Rock, but proxy advisors have thrown support behind the miner.

  • Peter Ker
Engineering research needs more funding.

Signs that rate rises are crunching business investment

A sharp fall in imports of items such as industrial equipment and high-tech machinery could signal that businesses are finally scaling back investment.

  • Michael Read
Maxine Brenner at the last Qantas annual meeting.

Qantas fallout spreads to Telstra’s board

Institutional Shareholder Services has recommended the telco’s investors not re-elect Maxine Brenner because of ‘material failures’ in oversight at the airline.

  • Ayesha de Kretser
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Zip Co group chief executive Cynthia Scott says AI could generate real-time scripts for call-centre workers dealing with tricky enquiries.

How these six CEOs are using AI in their businesses

It is clear that corporate Australia is only at the beginning of its journey with the technology, amid an era defined by low productivity.

  • Sally Patten and Euan Black
Pet Circle was the largest capital raise of the last quarter.

Mega VC deals are on ice. Here’s why

Some $739 million was raised in the three months to the end of September, a 42 per cent fall on the same period in last year, a new survey shows.

  • Jessica Sier

September

Australia’s five most powerful deal makers in 2023

Here are the key players pulling the most strings in the investment banking sector, helped by fortifying client relationships and staying close to boards.

  • Sarah Thompson and Kylar Loussikian
InvoCare is the biggest funerals group in Australia, with national brands including Simplicity Funerals and White Lady Funerals.

TPG’s $1.8b InvoCare takeover fair and reasonable: expert

The final price is only 5¢ per share higher than the original bid – the second time an ASX group has capitulated to private equity for a lower price in a week.

  • Simon Evans

Qantas shareholders demand ‘clear accountability’ from board

One of the company’s largest investors, HESTA, says the airline must lay out a plan to restore confidence or face a backlash at its annual meeting.

  • Simon Evans

AusSuper spoils Brookfield, EIG’s $18.7b Origin hopes

The superannuation fund, the company’s biggest shareholder, has increased its influence on the register amid a push by investors for a higher offer.

  • Angela Macdonald-Smith
ACCC chair Gina Cass-Gottlieb.

ACCC’s Cass-Gottlieb puts powerful companies on notice

Six months after calling for merger laws to be widened to include entrenching market power, Gina Cass-Gottlieb has put a big stake in the ground.

  • Anthony Macdonald

Directors in Labor’s sights with sharemarket disclosure probe

Coalition-era reforms aimed at stymying shareholder class actions face the axe under the Albanese government, but first there will be a review.

  • Ronald Mizen
New disclosures standards on the impact of corporate activity on nature are expected to be integrated into global accounting rules.

New business guidelines aim to help firms account for impact on nature

The Taskforce on Nature-related Financial Disclosures released its final rules on nature risk, which will force banks to understand the effects of lending.

  • James Eyers
ASIC chairman Joe Longo.

The tougher regime for cyber threats that directors must heed

Boards face a tension between government calls to rapidly share information after a hack while fearing scrutiny from ASIC and cyber-related class actions.

  • Updated
  • Nick Bonyhady
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Westpac CEO Peter King is among bank bosses in Canberra for meetings with Treasury and other government officials.

Bank bosses tip ‘soft landing’, ‘no recession’

Westpac boss Peter King and NAB chief Ross McEwan have delivered positive economic assessments, while in Canberra to meet Treasurer Jim Chalmers.

  • John Kehoe and Phillip Coorey
AGL’s largest shareholder, Mike Cannon-Brookes’ campaign at AGL Energy last year left its mark on activism in Australia.

‘The gloves are off’: Investors turn against boards

Reporting season’s done, AGMs are coming, and fund managers are throwing their weight around behind closed doors. It’s popcorn time.

  • Anthony Macdonald
University of Adelaide labour law professor Andrew Stewart explaining the bill at the Minerals Week conference on Wednesday.

Labour hire laws could extend to lawyers, accountants and IT staff

A top workplace law expert has warned that despite the Albanese government claiming its labour hire laws won’t cover service contractors, the Closing Loopholes Bill says the “exact opposite”.

  • David Marin-Guzman
Opposition spokeswoman Michaelia Cash said the delay was “embarrassing” for the government

Senate dashes Labor’s Christmas wish for IR overhaul

The Coalition and key crossbenchers have pushed back a Senate inquiry into Labor’s industrial relations shake-up until February.

  • Updated
  • David Marin-Guzman
AFR

Navigating economic uncertainty

CFOs take centre stage as they chart their companies’ future in complex times.