Insights

The corporate watchdog has abandoned an international investigation of Jack Flader, the mastermind of Australia's biggest superannuation fraud.

The building industry is suffering from a plague of corporate collapses as tight margins and sluggish demand push a growing number of operators to the wall.

The building is a sacred place with a feminine touch, writes Stephen Crafti.

Abacus Property Group has offloaded one of south-east Melbourne's largest retail investment properties to private investors for $31.5 million, on a yield of 9 per cent.

Sales

The thirst of Japanese companies for Australian food and beverage businesses appears to be unquenchable, with Japan's Kirin taking a 9.9 per cent stake in the much sought after Warrnambool Cheese and Butter Factory.

Reserve Bank governor Glenn Stevens has declared the value of Australia's dollar still appears too high, and at current levels of above US95¢ it lacks support of economic fundamentals.

Saputo chief executive Lino Saputo jnr said the Canadian dairy giant would have no business without paying farmers a competitive price for milk as he moves to address Warrnambool Cheese & Butter suppliers' concerns at a series of meetings this week.

Engineering and property services group UGL intends to play a leading role in any rationalisation of the engineering services sector, as it continues to cut costs and borrowings amid continued soft trading conditions.

The Australian banks are at the top of their game. In the opinion of some that makes them a sell, but betting against them has been a loser's strategy and the 11 per cent higher $6.5-billion September year profit that ANZ chief executive Mike Smith handed down on Tuesday suggests that state of affairs will continue.

Japanese-owned dairy, beer and wine group Kirin has thrust itself into an increasingly furious and costly three-way takeover battle for Warrnambool Cheese & Butter as it seeks to use a freshly acquired blocking stake to protect the viability of its cheese brands Coon and Cracker Barrel.

ANZ Bank chief executive Mike Smith has signalled the bank will not retreat from its aggressive push into Asia, saying this remains a critical part of the plan to lift shareholder returns.

A South Australian gold explorer hopes to find the precious metal in gum trees in a trial next year.

It's springtime, and corporate bookmakers are like the famous roses of Flemington Racecourse: in full bloom. It seems you can't turn on the TV or log on to the internet without running into some kind of promotion urging a punt.

Qantas is said to be on the cusp of pouring tens of millions of dollars into Jetstar Japan as it seeks to secure its position in the domestic Japanese market against other newcomers.

The sharemarket fell nearly half of 1 per cent as investors took profits after the recent record highs reached by three of the big four banks.