Ten takes a dive
Investors have given Ten Network's latest capital raising a thumbs down amid doubts about the struggling broadcaster's ability to reverse its flagging fortunes. The network's shares fell 8? to 24.5? when they emerged from a trading halt on Monday after it completed the first part of its $230 million capital raising to pay down debt.
The mining contractor Macmahon Holdings is poised for a capital raising as it battles to reverse a drop in earnings and tries to cut costs. Macmahon's shares were placed in a trading halt before an announcement about a possible equity raising and strategy update.
The fund manager Perpetual has named a leader of its restructuring program as its new chief financial officer. Gillian Larkins will replace outgoing CFO Roger Burrows on January 7. She joined Perpetual in October from Westpac.
Staff salary rise
ANZ will pay its staff in Australia a 3.5 per cent salary increase for each of the next two years, which includes superannuation contribution increases of 0.5 per cent for both years. The payment follows an enterprise agreement struck between the bank and the Finance Sector Union.
Centro Properties is to seek shareholder approval to change its name to Federation Centres. The chief executive, Steven Sewell, said the new name reflects the transformation of the group.