Kevin Casey: How Inorganic Activity Can Spur Organic Growth
'We leverage M&A as a way to propel organic growth,' says the managing director at Pathstone. 'If there's not an organic growth kind of thesis behind an acquisition, we're not going to pursue it.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ABC News
3 hours ago
- ABC News
Grilling season demand for Aussie beef outweighs Trump tariffs
It has been more than two months since Donald Trump's "liberation day" tariffs were announced, which included a 10 per cent tariff on imported Australian beef. But US demand for lean beef has far outweighed the tariff and exports have been surging. "In terms of volume, I don't think Trump's tariffs have had an impact at all," Rabobank analyst Angus Gidley-Baird said. "Year to date, beef exports are up over 30 per cent and if we continue at this pace, we'll go very close to pushing our quota limit for the first time (which is about 450,000 tonnes)." According to Meat and Livestock Australia, 167,722 tonnes of beef have been shipped to the US so far this year, which is up 32 per cent. Beef exports to China are also rising, with 117,341 tonnes exported, up 30 per cent on last year. General manager of meat processing company, The Midfield Group, Dean McKenna, said Donald Trump's tariffs were "one of the best things" that had happened to his business. "I wish he went 50 per cent [tariff]," he told Queensland Country Life. The United States cattle herd is at its lowest point since the 1950s because of drought. The supply of lean beef for America's famous hamburgers is tight. Going into its summer "grilling season" the United States has been relying on beef imports, which has coincided with Australia producing record amounts. "The US needs a lot [of lean beef] and Australia has a lot to sell, especially the way the prices are at the moment," Mr Gidley-Baird said. US cattle and beef prices are at record highs and are expected to rise further in 2026, making imported Australian beef very competitive — despite the 10 per cent tariff. According to Rabobank the average finished cattle price in the US is over $US4.50 a kilogram live-weight ($A6.92/kg), compared to about $US2.25 a kilogram for Australian cattle ($A3.46/kg). Beef made headlines on Friday, when it was suggested Prime Minister Anthony Albanese was willing to "loosen or compromise biosecurity rules" for US beef imports. A claim the PM quickly denied. As previously explained by ABC Landline, Australia does not have a ban on United States beef, as long as it comes from cattle born, raised and slaughtered in the US. The Australian government has been assessing a request from the US to expand its access, to include beef from cattle that it has imported from Mexico and Canada and then slaughtered in the US. Yet at the moment, the US has a ban on importing Mexican cattle because of an exotic pest called new world screwworm. Cattle Australia chief executive, Chris Parker, said the US would need to prove it can be like Australian beef exporters, which adhere to strict traceability standards. "Our position is that the US needs to be able to demonstrate it can either trace cattle born in Mexico and Canada, or has systems that are equivalent to Australia's traceability, before imports of meat could occur from non-US cattle," he said. Australia has not imported any beef from the US since 2005 for a few reasons including price. Australia also has plenty of its own beef. In 2024, Australia produced more beef than ever before, turning off 2.57 million tonnes of beef, of which a record 1.34 million tonnes was exported around the world. So imagine if Australia exported iron ore for $100 a tonne and was then criticised for not importing American iron ore for $200 a tonne. As meat analyst Simon Quilty recently told Landline, importing US beef is not viable. "I don't see us being swamped by American beef, in fact I'd say for the next five years, even if the US had open access, we'd see next to nothing coming out of America." Watch ABC TV's Landline at 12:30pm on Sunday or on ABC iview.
News.com.au
4 hours ago
- News.com.au
May Jobs Report: WSJ's Chief Economics Correspondent Breaks Down the Data
The unemployment rate held steady at 4.2% despite the Trump administration's efforts to cut federal jobs and spending. WSJ's Nick Timiraos explains what the report means for the economy and the Federal Reserve.
News.com.au
4 hours ago
- News.com.au
CosMc's: McDonald's wild burgerless new concept baffling customers
A McDonald's without burgers seems a ludicrous idea. Like Bondi Beach without backpackers; or a Melbourne day with fewer than four seasons. And yet, on the outskirts of Chicago, there is exactly that: a Macca's without a pattie in sight. No Quarter Pounders, no McChickens, not even a hint of a fry, French or otherwise. This is CosMc's: a bold experiment by McDonald's to capture consumers who are less into Happy Meals and more into the sugary desserts masquerading as drinks that you might find at Starbucks. Selflessly, here at we've tried some of this espresso slushies and neon cordials as well as the decidedly un-Macca's like bites, so you know what they're actually like. And some of the food items in particular are so fast-food fab, after trying one you wouldn't mind if you never ate a Big Mac again. Not everyone is convinced though, with one Macca's lover telling they 'drove off' when they saw it wasn't the real deal. 'The premium beverage space has been growing, and McDonald's wants to play in the arena,' a retail analyst told But, he warned, success will be 'hard to accomplish' and, so far, the signs for McDonald's new chain are patchy at best. There are growing signs that CosMc's could end up being a failed experiment. CosMc's first outpost On the side of a highway in Bolingbrook, Illinois, an hour west of Chicago deep in suburbia, is a very standard McDonald's. Its drive-through and kids playground wouldn't look out of place on the side of any main road in Australia. Next to it though is something notable. On the site of a former rotisserie chicken restaurant is a mutant Macca's: CosMc's. The famous golden arches logo is there, but it's subtle. The store is not painted red and yellow, but vibrant purple and yellow. It has a kind of 1950s Jetson's space age quality about it. The name is derived from 'CosMc's' a McDonald's mascot from TV commercials in the late 1980s, a robot with eight arms and a weakness for stealing hamburgers. It's here that the burger king wants in on coffee. While Macca's sells some basic beverages, people don't make a beeline for McDonald's when they want a sugary slushie espresso. Indeed, Starbucks has around 16,000 outlets in the US outnumbering McDonald's 13,500. CosMc's, McDonald's hopes, could change all that. 'McDonald's core business in the US is a mature and saturated business and that limits growth,' Neil Saunders, the managing director, retail, of US research from Global Data, told 'CosMc's operates in a completely different segment – the popular and fast-growing beverage space – and McDonald's wants to see if it can grab some share of that market'. Drinks are very sweet, food is spicy When the first CosMc's opened, just over a year ago, McDonalds's said the new sub-brand was 'rooted in beverage exploration, with bold and unexpected flavour combinations, vibrant colours and functional boosts'. What that manifests itself on the menu is an eclectic range of slightly bonkers drinks. Perhaps an Iced French Toast Galaxy Latte? An Iced Turmeric Spiced Latte? Too normal sounding for you? CosMc's also offers the Sea Salted Caramelactic Shaken Espresso. Dazzling in an orangey pink hue is the Island Pick-Me-Up Punch, consisting of 'punched up' berry flavoured 'powered' lemonade with dried strawberries? All 'natural,' the description assures. Then there's Sprite Moonsplash and Pomegranate Hibiscus Slush. tried the bright purple Tropical Spiceade. Tropical is a vague flavour. In reality it was a not very spice berry cordial. Sweet was the overwhelming taste. The Churro Cold Brew Frappe was a cold creamy – and very sweet – Frappuccino adjacent brew which doesn't taste of churros so much but does have a hint of cinnamon Many of the drinks simply seemed to exist to be colourful and sweet – there was little to differentiate them aside from the hue. You'll give up Big Macs for this The food was more interesting. Apple cinnamon pops were little doughnut balls which were, no surprise, sweet, but they had nice tangy burst of viscous apple sauce. The closet you'll get to classic Macca's fare is a creamy avocado tomatillo sandwich. Tomatillos are a Mexican fruit used in salsas. And it turns a bite that could have a passing resemblance to a bland bacon and egg McMuffin into a spicy delight within a brioche bun. It's got a kick and I'd happily kick a Big Mac to the kerb for good if these were readily available. Other choices are less successful. The pretzel bites are bland – warmed dough with chunky salt crystals. But, then, that's pretzels for you. But a spicy, creamy queso dip livens it up. 'I drove off' But customers appear to be confused as to whether it's a Macca's or not. 'I thought it was McDonald's,' one CosMc's customer remarked. 'But then I saw the menu and drove off.' This could be an issue, said Global Data's Mr Saunders. 'CosMc's needs to stand on its own and not be compared to McDonald's as it's a completely separate proposition. 'The market is saturated with choice, so CosMc's will need to establish itself. 'It needs to become a part of people's routines and that can be hard to accomplish. 'At the moment it is still seen as something of a novelty; it needs to move beyond that.' Mr Saunders added that 'constrained consumer finances' likely 'will not be good for discretionary spending on expensive beverages'. Just look at Starbucks. In the first three months of 2025, its sales fell 2 per cent in the US. It's put in place a turnaround plan. Awkwardly for CosMc's that has actually seen it axe the number of sweet, creamy drinks after customers who simply wanted, you know, a coffee complained they were awaiting while sugar caffeine cocktails were whipped up. Worrying signs for CosMc's McDonald's, if anything, is doing it worst. Its US sales fell 3.6 per cent during the same period as consumers slowed down their splurging – even on fast food. In January, it said it would close three of its larger CosMc's locations. There were only eight in total to begin with. Aside from the Illinois outpost, they are all now in Texas in and around Dallas and San Antonino. The fast food firm said the smaller branches allowed it to 'test new, unique circumstances that are reflective of our customer base'. Just this month, CosMc's said the CosMc's Club loyalty program would shutter – hardly a sign that brand is thriving. McDonald's CEO Chris Kempczinski has now revealed that some of CosMc's beverages will be added to the main Macca's menu in the US. The Sour Energy Burst and Sprite Moonshine could be sold alongside Fanta and Coke. So is CosMc's just a test bed of its big brother after all? A mini Macca's of bonkers beverages and intriguing eats to see what customers really want? Mr Saunders wasn't so sure saying he saw 'little mileage' in having a small, expensive, chain simply as a testing ground for new drinks. 'McDonald's is still in the experimental phase of CosMc's. 'Over the next few years, they will either scale it (up),' he said. 'Or they will drop it.'
