Fundies bet on ‘dividend surprise' from ASX gold miners
Fund managers are betting on more Australian gold producers rewarding shareholders with chunky dividends as the soaring price of the precious metal buoys company profits and cash levels.
Gold topped $US3500 an ounce for the first time last week bolstered by its safe haven appeal amid US President Donald Trump's escalating trade war that has pushed the spot price up more than 30 per cent this year. Profit takers stepped in on Monday with gold trading about $US3300 an ounce.
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Perth Now
an hour ago
- Perth Now
Trump's 'big beautiful bill' clears first Senate hurdle
The Republican-controlled US Senate has advanced President Donald Trump's sweeping tax-cut and spending bill in a key procedural vote, raising the odds the "big, beautiful bill" will be passed in coming days. The sweeping tax-cut and spending measure, Trump's top legislative goal, passed its first procedural hurdle in a 51 to 49 vote late on Saturday, US time (Sunday afternoon AEST), with two Republican senators voting against it. The result came after several hours of negotiation as Republican leaders and Vice President JD Vance sought to persuade last-minute holdouts in a series of closed-door negotiations. The procedural vote, which would start debate on the 940-page megabill to fund Trump's top immigration, border, tax-cut and military priorities, began after hours of delay. It then remained open for more than three hours of standstill as three Republican senators joined Democrats to oppose the legislation. In the end, Wisconsin Senator Ron Johnson flipped his no vote to yes, leaving only two senators opposed among Republicans. Trump was monitoring the vote from the Oval Office late into the night, a senior White House official said. The megabill - titled the One Big Beautiful Bill Act - would extend the 2017 tax cuts that were Trump's main legislative achievement during his first term as president, cut other taxes and boost spending on the military and border security. Nonpartisan analysts estimate that a version of the bill would add trillions to US government debt. Democrats fiercely opposed the bill, saying its tax-cut elements would disproportionately benefit the wealthy at the expense of social programs that lower-income Americans rely upon. Elon Musk doubled down on his opposition to the bill, arguing the legislation would kill jobs and bog down burgeoning industries. "The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country," Musk wrote on his social media platform X ahead of the vote. "It gives handouts to industries of the past while severely damaging industries of the future." The Tesla and SpaceX chief, whose birthday was also on Saturday, later posted the bill would be "political suicide for the Republican Party". The criticisms reopened a recent fiery conflict between the former head of the Department of Government Efficiency and the administration he recently left.
Perth Now
2 hours ago
- Perth Now
New information in Brisbane alleged house party CEO murder
New details have emerged about the tragic death of prominent retail entrepreneur Greg Josephson, 58, who was allegedly stabbed by a 15-year-old during a party at his upscale Clayfield home in Brisbane's north. Police were called to the house shortly after 8pm on Thursday night, where they found Mr Josephson dead on the top floor. The 15-year-old suspect, who was known to Mr Josephson, called triple-0 himself and was later arrested nearby, suffering a minor injury. He has since been charged with one count of murder. Police confirmed that none of the other approximately 30 teenagers at the party were involved, though some are assisting with the investigation. The scene was described as 'chaotic' and 'confusing' when officers arrived, with many young guests unaware of what had occurred. The millionaire co-founder of the Universal Store clothing chain has died after allegedly being stabbed by a teenage boy in Brisbane during a house party. Greg Josephson, 58, who co-founded the business with his brother Michael in 1999, was found dead at his Clayfield mansion in the city's inner-north, shortly after 8pm on Thursday night Credit: 7NEWS / supplied The millionaire co-founder of the Universal Store clothing chain has died after allegedly being stabbed by a teenage boy in Brisbane during a house party. Greg Josephson, 58, who co-founded the business with his brother Michael in 1999, was found dead at his Clayfield mansion in the city's inner-north, shortly after 8pm on Thursday night Credit: 7NEWS / supplied Greg Josephson, who co-founded the youth fashion chain Universal Store with his brother Michael in 1999, was a well-known figure in the Australian retail industry. The business began in the Brisbane suburb of Carindale and, under the brothers' leadership, expanded to 53 stores across six states with an annual turnover of $100 million before being sold to a consortium of private equity investors in 2018 for $100 million. Universal Store later floated on the ASX and today boasts a market cap of around $570 million, with 80 stores nationwide and more than $244 million in annual revenue as of June 2024. The millionaire co-founder of the Universal Store clothing chain has died after allegedly being stabbed by a teenage boy in Brisbane during a house party. Greg Josephson, 58, who co-founded the business with his brother Michael in 1999, was found dead at his Clayfield mansion in the city's inner-north, shortly after 8pm on Thursday night. Unknown Credit: Unknown / Instagram Mr Josephson hailed from a family with a rich history in Brisbane's fashion scene, stretching back more than a century. His great-grandfather established Josephson's Clothing Factory in 1910, while his grandfather founded Josephson & Sons in 1939, creators of the iconic Can't Tear 'Em workwear brand. The family's retail legacy continued with his uncle, who had ties to the denim brand Lee Cooper. A Griffith University commerce graduate, Greg Josephson worked in Sydney for major property firms including Lend Lease, Jones Lang LaSalle, and Westfield before returning to Brisbane to launch Universal Store with his brother, a former lawyer. He was described as softly spoken and unassuming, with a keen eye for product selection and a strong commitment to staff, which he credited as key to the company's success. After the sale of Universal Store, Mr Josephson became CEO of Josephson Holdings Pty Ltd and remained active in business, including as owner of the Noosa Reef Hotel, purchased in 2021 for $13.9 million. He and his wife Tamra had recently listed their renovated six-bedroom, six-bathroom home for sale, planning to relocate to Noosa for family and business reasons. The property, which they purchased in 2017 and renovated to evoke a 'five-star hotel,' features alfresco terraces, a pavilion, and a pool. The couple also own the adjoining lot, which is approved for development into a tennis court or guest cottage. 'We're sad to sell, but we're relocating to Noosa where we have a house and business interests,' Mr Josephson told News Corp earlier. 'But we're proud that we went all out to create a once-in-a-lifetime forever home, and that's what's on offer for someone now.' Neighbours described the party as so quiet they didn't realise it was happening until guests began frantically trying to leave after the incident. 'They were just like 'we want to go home, and we're not allowed to leave'. They were devastated,' one neighbour told media. Police said about 30 teenagers were present, and the scene was chaotic and confronting when they arrived. Acting Assistant Commissioner Rhys Wildman said police allege a household item was used in the fatal altercation between Mr Josephson and the teen. 'There was some sort of altercation that's resulted in this 58-year-old male tragically losing his life,' he said. 'It's not a case of carrying knives, it's unfortunately allotted in a home.' Police confirmed the party was a planned event and that none of the other attendees were involved in the incident. The rest of the teenagers were taken to Boondall Police Station before being collected by their families. Authorities said the welfare of the young partygoers is a priority as the investigation continues. Inspector Jane Healy said the 15-year-old was the only person aware of what happened and that he and the other teenagers are assisting police. 'It's still extremely early and the situation was quite chaotic, confusing and confronting when police arrived,' she said. 'There's quite a few young people that need to be interviewed, so until we get that done we won't be able to get a real idea of what has happened here.' The Child Protection Investigation Unit is involved, and police are urging anyone with information, CCTV, or dashcam footage from the area to come forward. Universal Store released a statement after the tragedy: 'We wanted to share the sad news that Greg Josephson, who founded our company and played a significant role until 2018, has recently passed away. Our sincere thoughts and condolences are with his family at this very sad time.'
West Australian
2 hours ago
- West Australian
Everything to know about Greg Josephson: Universal Store co-founder killed at Brisbane house party
New details have emerged about the tragic death of prominent retail entrepreneur Greg Josephson, 58, who was allegedly stabbed by a 15-year-old during a party at his upscale Clayfield home in Brisbane's north. Police were called to the house shortly after 8pm on Thursday night, where they found Mr Josephson dead on the top floor. The 15-year-old suspect, who was known to Mr Josephson, called triple-0 himself and was later arrested nearby, suffering a minor injury. He has since been charged with one count of murder. Police confirmed that none of the other approximately 30 teenagers at the party were involved, though some are assisting with the investigation. The scene was described as 'chaotic' and 'confusing' when officers arrived, with many young guests unaware of what had occurred. Greg Josephson, who co-founded the youth fashion chain Universal Store with his brother Michael in 1999, was a well-known figure in the Australian retail industry. The business began in the Brisbane suburb of Carindale and, under the brothers' leadership, expanded to 53 stores across six states with an annual turnover of $100 million before being sold to a consortium of private equity investors in 2018 for $100 million. Universal Store later floated on the ASX and today boasts a market cap of around $570 million, with 80 stores nationwide and more than $244 million in annual revenue as of June 2024. Mr Josephson hailed from a family with a rich history in Brisbane's fashion scene, stretching back more than a century. His great-grandfather established Josephson's Clothing Factory in 1910, while his grandfather founded Josephson & Sons in 1939, creators of the iconic Can't Tear 'Em workwear brand. The family's retail legacy continued with his uncle, who had ties to the denim brand Lee Cooper. A Griffith University commerce graduate, Greg Josephson worked in Sydney for major property firms including Lend Lease, Jones Lang LaSalle, and Westfield before returning to Brisbane to launch Universal Store with his brother, a former lawyer. He was described as softly spoken and unassuming, with a keen eye for product selection and a strong commitment to staff, which he credited as key to the company's success. After the sale of Universal Store, Mr Josephson became CEO of Josephson Holdings Pty Ltd and remained active in business, including as owner of the Noosa Reef Hotel, purchased in 2021 for $13.9 million. He and his wife Tamra had recently listed their renovated six-bedroom, six-bathroom home for sale, planning to relocate to Noosa for family and business reasons. The property, which they purchased in 2017 and renovated to evoke a 'five-star hotel,' features alfresco terraces, a pavilion, and a pool. The couple also own the adjoining lot, which is approved for development into a tennis court or guest cottage. 'We're sad to sell, but we're relocating to Noosa where we have a house and business interests,' Mr Josephson told News Corp earlier. 'But we're proud that we went all out to create a once-in-a-lifetime forever home, and that's what's on offer for someone now.' Neighbours described the party as so quiet they didn't realise it was happening until guests began frantically trying to leave after the incident. 'They were just like 'we want to go home, and we're not allowed to leave'. They were devastated,' one neighbour told media. Police said about 30 teenagers were present, and the scene was chaotic and confronting when they arrived. Acting Assistant Commissioner Rhys Wildman said police allege a household item was used in the fatal altercation between Mr Josephson and the teen. 'There was some sort of altercation that's resulted in this 58-year-old male tragically losing his life,' he said. 'It's not a case of carrying knives, it's unfortunately allotted in a home.' Police confirmed the party was a planned event and that none of the other attendees were involved in the incident. The rest of the teenagers were taken to Boondall Police Station before being collected by their families. Authorities said the welfare of the young partygoers is a priority as the investigation continues. Inspector Jane Healy said the 15-year-old was the only person aware of what happened and that he and the other teenagers are assisting police. 'It's still extremely early and the situation was quite chaotic, confusing and confronting when police arrived,' she said. 'There's quite a few young people that need to be interviewed, so until we get that done we won't be able to get a real idea of what has happened here.' The Child Protection Investigation Unit is involved, and police are urging anyone with information, CCTV, or dashcam footage from the area to come forward. Universal Store released a statement after the tragedy: 'We wanted to share the sad news that Greg Josephson, who founded our company and played a significant role until 2018, has recently passed away. Our sincere thoughts and condolences are with his family at this very sad time.'
