Insights

Murray Goulburn chief executive Gary Helou got something he wanted from Warrnambool Cheese & Butter after he boosted MG's bid for Warrnambool from $7.50 a share to $9 a share on Wednesday: a letter from Warrnambool's board to its shareholders telling them to do absolutely nothing.

Dairy co-operative Murray Goulburn has stormed ahead in the hotly contested bidding war for Warrnambool Cheese & Butter after issuing a hefty sweetener that values the processor at $505 million.

Coal magnate Clive Palmer's sniffle cleared up just in time on Wednesday, enabling him to park his rump on the chamber crossbench in his new role as federal MP.

Listening to Myer boss Bernie Brookes talk about the first-quarter sales result, which is a harbinger for the all-important Christmas period, doesn't really inspire optimism about the retail sector.

Just days after receiving approval to build a $1.5 billion luxury hotel and casino at his Sydney Harbour development, Barangaroo, James Packer is making his most public pitch yet to build a $400 million casino resort in Sri Lanka.

Gail Kelly, the chief executive of Australia's second-biggest bank, Westpac, received a pay cut in 2013 but remains among the country's best-paid bosses.

The sharemarket suffered its biggest fall since September 30 after a negative lead from offshore was compounded as investors took profits from bank stocks.

Listening to Myer boss Bernie Brookes talk about the first-quarter sales result, which is a harbinger for the all-important Christmas period, doesn't really inspire optimism about the retail sector.

Janet Yellen, President Barack Obama's choice to lead the US Federal Reserve over the next four years, has championed the idea that the Fed can stimulate the economy simply by speaking clearly.

Germany's huge trade surplus, a source of pride for Germans but an irritant to the rest of Europe, could undergo much tougher European Union scrutiny, officials in Berlin acknowledged.

Myer chief Bernie Brookes says his plans to step down from the nation's biggest department store next August remain on track despite the retailer set to enjoy its "time in the sun" just as a new CEO takes over.

Coal magnate Clive Palmer's sniffle cleared up just in time on Wednesday, enabling him to park his rump on the chamber crossbench in his new role as federal MP.

Murray Goulburn chief executive Gary Helou got something he wanted from Warrnambool Cheese & Butter after he boosted MG's bid for Warrnambool from $7.50 a share to $9 a share on Wednesday: a letter from Warrnambool's board to its shareholders telling them to do absolutely nothing.

Fortescue Metals chairman Andrew Forrest has raised the prospect that the company could wipe another big chunk off its debt by the end of the year, putting efforts to deleverage its balance sheet further ahead of schedule.

Dairy co-operative Murray Goulburn has stormed ahead in the hotly contested bidding war for Warrnambool Cheese & Butter after issuing a hefty sweetener that values the processor at $505 million.

In the largely forgotten battle for Trust Co, Equity Trustees believes its proposal offers greater value over the longer term.