BHP’s board has navigated well through mining’s highs and lows and still passed the shareholder value test.
- Principal Fellow, Melbourne Business School
At the current frequency of financial system inquiries (Campbell 1982, Wallis 1997, Murray 2014) there will not be another until 2030. That makes this week’s interim report from David Murray all the more…
Imagine that Virgin Australia was majority owned by a Chinese state-owned enterprise (SOE). Then, if the owners of Virgin tipped A$350 million of new equity into the company to sustain Virgin through a…
Financial markets must be confident that the US will not default on its sovereign debt, otherwise those markets would have plummeted by now. But is that confidence justified? Markets participants are comforted…
What are investors who buy BHP Billiton shares buying into? BHP shares are a bet on two things. First, commodity prices and especially the price of iron ore, hydrocarbons and copper. Second, the ability…
Marius Kloppers, who today announced his intention to resign as CEO of mining firm BHP Billiton, leaves behind a formidable legacy in both mining and politics as head of a firm that campaigned for a scaled-down…
Bank of England Governor Mervyn King has called on British banks to lift their capital reserves, hold off on paying dividends and cut bonuses amid growing fears about Europe’s economic stability. King’s…
Greek Prime Minister George Papandreou has taken the bold step of planning a referendum on the country’s EU-imposed austerity measures, in a bid to claim a mandate for his efforts to avoid a default on…
Global markets have tumbled again this week, following the downgrading of Italy’s debt rating and a series of negative comments from leaders of the world’s financial institutions. International Monetary…
Global markets look set for a rough week amid new concerns that Greece could default on its massive debt. The Australian share market has spent most of the day down 3% after reports that Germany could…
On the weekend of 12-13 August the Western Australian branch of the Liberal Party passed a resolution calling for a Royal Commission into the science of climate change. Apparently the party members are…
US President Barack Obama says Democrat and Republican leaders have reached an agreement on reducing US debt, before the August 2 debt ceiling deadline. Failure to reach a deal may have led to a historic…
I rang some people at big banks who do liquidity and balance-sheet management to see how they are preparing for the August 2 deadline for US debt funding. They seemed remarkably sanguine. The feeling is…
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