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Articles related to "australian-financial-review"

Australians on UK travel exempt list

  • Experts say that's because clinicians have become more skilled and are deploying new tactics as they learn more about the course of COVID-19; some are using ventilators more selectively; many hospitals are less overwhelmed than when the virus first inundated Wuhan, parts of Italy and New York City; and early data on ventilation and death did not present a true picture.
  • Almost 30 per cent of genome sequencing data from samples of the COVID-19 virus collected by the World Health Organisation (WHO) have shown signs of mutation, but there is no evidence this has led to more severe disease, a top WHO official said on Friday.
  • Brazil was set to pass 1.5 million confirmed coronavirus cases on Friday, as the virus continues to ravage Latin America's largest country even as cities reopen bars, restaurants and gyms sparking fears infections will keep rising.

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What investors can learn from the Virgin bond saga

  • The minimum investment was lower than those attached to other comparable deals and the 8 per cent yield was vastly more desirable than the 1 per cent return available to investors in government bonds in the current environment, she says.
  • Crestone Wealth Management vice-chairman Clark Morgan, whose firm was among the co-managers of the Virgin debt raising and had a "limited number" of clients invested in the bonds, stands by the advice provided.
  • Wealth manager Hamish Foletta of Sarto Advisory, however, says it is precisely the listed nature of bonds issued by corporates like Virgin that can make them attractive in the first place.
  • Though these newer investment products have been a "positive development" in democratising access to bonds, Foletta wants to see more big listed companies issue debt to regular investors, while acknowledging that Virgin has perhaps not been the best ambassador for the model.

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ESG funds are booming - but doubts linger

  • Patsky is chief executive of Trillium, a specialist ESG investment firm that was purchased this year by local fund manager Perpetual.
  • Meaghan Victor, a managing director of State Street Global Advisors and head of its Asia-Pacific distribution of exchange traded funds (ETFs), says internal research done by her firm of 5000 investors found female and young investors had a preference for ESG products.
  • He says Trillium's lobbying of the world's biggest fund manager, BlackRock, contributed to that firm changing its proxy voting policy.
  • She says that beginning with the 2020 proxy season, State Street will take appropriate voting action against board members at companies that are laggards based on their R-Factor scores (an ESG rating system).
  • Starting in 2022, State Street will expand its voting action to include those companies that have been consistently underperforming their peers on their R-Factor scores for multiple years, unless it sees meaningful changes.

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AMP board's risky appointment

  • The board of AMP Capital was briefed on the allegations brought against Pahari, which were the subject of a 2017 independent investigation by British QC Andrew Burns of London-based Devereux Chambers.
  • Judging from the comments made by AMP Capital employees Pahari does not seem to match up to the "Level 5" leadership category described by legendary business analyst Jim Collins.
  • The AMP board must have believed Pahari was an outstanding leader ideally suited to managing a company with $190 billion in funds.
  • AMP Capital employees are unhappy with the appointment of Boe Pahari, who the subject of a sexual harassment complaint - and the stoush has attracted attention from one of America's highest profile #MeToo champions.

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Gretchen Carlson takes AMP to task

  • A day earlier, the stoush over a key executive appointment at the Australian financial services giant had attracted the attention of Gretchen Carlson, the high profile American television host who helped take the #MeToo movement global.
  • On Twitter, Ms Carlson shared The Australian Financial Review’s revelations about AMP Capital's new chief executive Boe Pahari with her 118,000 followers.
  • The internal revolt, which has AMP employees across divisions openly questioning the wisdom of senior management and the board, was triggered by revelations Pahari had been elevated to the top job at AMP Capital after being penalised following a sexual harassment claim brought by a female subordinate.
  • AMP Capital employees are unhappy with the appointment of Boe Pahari, who the subject of a sexual harassment complaint - and the stoush has attracted attention from one of America's highest profile #MeToo champions.

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AMP board and CEO dig in on Pahari

  • AMP boss Francesco De Ferrari has welcomed the "candour" of staff outrage over the appointment of Boe Pahari to the head of AMP Capital as the David Murray-chaired board dig in over demands to replace him because of his sexual harassment of a female subordinate.
  • The Australian Financial Review this week revealed the company promoted Mr Pahari, formerly AMP Capital’s head of infrastructure equity, to one of its highest paid and most strategically important positions, despite knowing he was financially penalised after sexually harassing a female subordinate who settled a claim against the company.
  • The meeting on Friday took place after the Financial Review revealed an earlier meeting, hosted on Wednesday by People and Culture executive Helen Livesey – the sole female on AMP's eight-member key management team – which was swamped by complaints from employees, some of whom called for Mr Pahari to be sacked.

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Life in Melbourne's lockdown testing locals

  • Booze bus checkpoints, police drones overhead and “medical clearance” certificates to attend work have become a way of life for 300,000-plus residents living in Melbourne's 10 hotspot postcodes.
  • Victoria's new Police Commissioner, Shane Patton, said at least seven people were issued $1652 fines on the first day of lockdown and police had adopted a no leniency approach, after some residents snuck out of their suburbs or tried to change their address with VicRoads.
  • Residents in the 10 postcodes deemed hotspots are able to leave their homes for only four reasons: to buy food and other essential items; for exercise; for medical care or care-giving; or to go to work or school.
  • But the challenge of life in lockdown is being further exacerbated by the school holidays, a weekend of forecast rain, a diverse range of multicultural communities, as well as conspiracy theories relating to COVID-19 the Victorian government says is behind refusal of tests.

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Mandatory testing urged in Melbourne's virus battle

  • Business and medical experts are calling for mandatory COVID-19 testing in Victoria to contain the coronavirus outbreak after the Andrews government revealed 10,000 people in hotspots have refused to be tested.
  • As Victorian Premier Daniel Andrews came under pressure to sack his health minister over Victoria's failed pandemic response, the business community warned quick action was needed to protect jobs in the rest of the state or risk derailing the Prime Minister's plans for economic recovery.
  • Health Minister Jenny Mikakos said that people's reasons for refusing tests included "believing that coronavirus is a conspiracy or that it won't impact on them" while experts warned the message was not getting through to multicultural communities in Melbourne's north-west corridor.
  • A COVID-19 case was confirmed in Sydney on Thursday, after a Balmain man was released from hotel quarantine in Melbourne, despite earlier testing positive to the virus.

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Virgin's flightplan: Profit before market share

  • Virgin Australia chief commercial officer John MacLeod says he is more interested in making a profit than maximising market share, taking a bruising battle with Qantas off the table as travel restrictions begin to ease.
  • Profitability will be the crucial measure by which Virgin - under its new owner, US private equity group Bain Capital – will judge decisions to alter its route network and pricing in a post-pandemic environment.
  • Virgin this week announced the next step in ramping up domestic operations as travel restrictions ease around the country – adding 17 new routes across NSW and Queensland over the next four weeks.
  • The International Air Transport Association has noticed a few tentative improvements on some significant domestic routes throughout May. US private equity giant Bain Capital has formally taken control of Virgin Australia and started paying the distressed airline's bills.

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Gage Roads corners keg sales as WA emerges from Covid

  • Gage Roads Brewing has cashed in on punters' pent-up thirst for a beer at a bar as Western Australia emerges faster than other states from COVID-19 lockdowns.
  • Gage Roads picked up supply deals and new customers as pub operators worried they wouldn't have enough beer on tap because supplies weren't flowing from the big brewers.
  • Gage Roads founder and managing director John Hoedemaker said WA's success in preventing community spread of COVID-19 had helped pubs reopen earlier than in other states.
  • Gage Roads is the biggest local buyer of malt barley grown in WA, where farmers have come to rely on supplying millions of tonnes a year to China.
  • Craft brewer taps into punters' pent-up thirst as pubs reopen and big players struggle to get beer flowing.

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