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Good morning,

Top WiseTech institutional investors have demanded the tech giant restore an independent board after four directors quit in protest over billionaire founder Richard White's role, with the dramatic power dispute wiping nearly $8.2bn from the company’s value.

Meanwhile, Ampol is reaping the benefits of higher demand for petrol as the transition to electric vehicles is taking longer than expected, despite a series of federal government incentives to bolster demand. 

And Mineral Resources has again been forced to defend its disclosure standards after being hit with a long list of questions from the ASX related to its recent shock $807m interim loss and subsequent 20 per cent share plunge.

The markets


Making news this morning
1
Judge questions Star casino chief’s fine in ASIC hearing
A Federal Court judge has questioned whether an $180,000 fine against former Star Entertainment casino chief Greg Hawkins was too lenient.
2
TPG boss takes aim at internet tax slug
The boss of Vodafone’s owner says NBN Co is a “900-pound gorilla” Australians are subsidising.
3
ASIC to push ASX on transparency
The corporate regulator has warned its latest forays, slapping new rules on the ASX, are a sign of things to come.
Editor's picks
MARGIN CALL
Creative Australia: groupthink and backslapping
CA boss Adrian Collette will soon front Senate Estimates. He may want to explain why roughly 37 per cent of its peer assessors, who oversee grant funding, received grants themselves.
By YONI BASHAN, NICK EVANS
WEALTH
Could CBA shares plummet?
The superstar stock of the ASX may be sailing towards a cliff edge, with most experts believing it is heading for a fall.
By JAMES KIRBY
Commentary
What really happened inside the WiseTech boardroom
By ERIC JOHNSTON
Associate Editor
Richard White is back in control at WiseTech, but its still not clear in what capacity. The mass exit of directors has left the tech company in a full-blown crisis.
DataRoom
Investors signal an end to deals as share prices go into reverse
Investors are sending a clear message to listed companies about their disapproval of mergers and acquisitions, with several major companies sold off sharply following big deals.
Retirement group taps three brokers for $900m cash call
Ryman is making its second visit to equity investors in two years as it downgrades earnings guidance.
Groups circle Perpetual’s wealth business
The listed financial group has called off its $2.2bn unit sale to KKR, and now it’s working on a Plan B.

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