Latest news with #TheAustralianFinancialReview
AU Financial Review
2 days ago
- Business
- AU Financial Review
Chalmers bets on AI to revive stagnant economy
The artificial intelligence revolution could not have come at a better time for Treasurer Jim Chalmers, who has been struggling to sell the narrative that 'the Australian economy is turning a corner'. AI is being prescribed like it's the new wonder drug to revive stagnant productivity, boost business investment and kickstart growth. The Treasurer appears to have embraced this idea. He told The Australian Financial Review last month that AI was an absolute game changer, a key part of the productivity agenda, and that while 'regulation will matter, we are overwhelming focused on capabilities and opportunities, not just guardrails'. Harnessing data and digital technology is the third pillar of Chalmers' Productivity Agenda which he has tasked the Productivity Commission with.
Sydney Morning Herald
5 days ago
- Business
- Sydney Morning Herald
NAB runs into a governance bin fire with a boozy accelerant
I wonder whether National Australia Bank's chief executive, Andrew Irvine, has decided to participate in 'Dry July', following the explosive report that some major shareholders have expressed concerns about his drinking and his management style. Shareholders airing their grievances about executive behaviour at top 20 companies is pretty unusual. And for institutional investors to draw attention to a chief executive's drinking as a red flag, as reported by The Australian Financial Review, is even rarer. It has left Irvine in the invidious position of whether to respond to a 'do you beat your wife' type of question. And NAB will now undoubtedly be engaged in a fishing expedition to find out who said what to the media. So far, there has been no official response from the bank's chairman, Phil Chronican. NAB has gone to ground, which can sometimes lead to more drama, as it leaves the door open to the spread and amplification of rumours. The complaint was apparently made directly to Chronican, at a lunch at which fellow director Simon McKeon also attended, is not one he can ignore, even if no disciplinary action will be taken against Irvine. Loading Instead, NAB's internal response has been to step up external mentoring of key personnel, including the chief executive. Whether the complainants, one of which is reportedly fund manager Pendal's head of investments, Crispin Murray, have a broader beef with the management or performance of the bank isn't clear. In a general sense if a business is doing well, shareholders are unlikely to take issue with how it is being run. And it is unusual for shareholders to play the role of the 'sobriety police'. Irvine's predecessor, Ross McEwan, is credited with turning the bank around after years of mishaps under previous regimes in which the bank displayed an uncanny accuracy in shooting itself in the foot.
The Age
5 days ago
- Business
- The Age
NAB runs into a governance bin fire with a boozy accelerant
I wonder whether National Australia Bank's chief executive, Andrew Irvine, has decided to participate in 'Dry July', following the explosive report that some major shareholders have expressed concerns about his drinking and his management style. Shareholders airing their grievances about executive behaviour at top 20 companies is pretty unusual. And for institutional investors to draw attention to a chief executive's drinking as a red flag, as reported by The Australian Financial Review, is even rarer. It has left Irvine in the invidious position of whether to respond to a 'do you beat your wife' type of question. And NAB will now undoubtedly be engaged in a fishing expedition to find out who said what to the media. So far, there has been no official response from the bank's chairman, Phil Chronican. NAB has gone to ground, which can sometimes lead to more drama, as it leaves the door open to the spread and amplification of rumours. The complaint was apparently made directly to Chronican, at a lunch at which fellow director Simon McKeon also attended, is not one he can ignore, even if no disciplinary action will be taken against Irvine. Loading Instead, NAB's internal response has been to step up external mentoring of key personnel, including the chief executive. Whether the complainants, one of which is reportedly fund manager Pendal's head of investments, Crispin Murray, have a broader beef with the management or performance of the bank isn't clear. In a general sense if a business is doing well, shareholders are unlikely to take issue with how it is being run. And it is unusual for shareholders to play the role of the 'sobriety police'. Irvine's predecessor, Ross McEwan, is credited with turning the bank around after years of mishaps under previous regimes in which the bank displayed an uncanny accuracy in shooting itself in the foot.
AU Financial Review
11-07-2025
- Business
- AU Financial Review
Johns Lyng agrees to $1.3b takeover bid from private equity suitor
Johns Lyng Group says it has agreed to sell itself to Pacific Equity Partners in a deal that values the building services business at $1.3 billion. The company had a market capitalisation of $719 million last month. That was before The Australian Financial Review 's Street Talk column revealed it had been approached by a private equity firm which had secured the exclusive right to conduct due diligence on the business, ahead of a formal bid.
AU Financial Review
10-07-2025
- Business
- AU Financial Review
RBA rate call extraordinaire Rory Robertson makes his last prediction
Prediction and forecasting is all part of the job description for a market economist. Yet correctly calling the Reserve Bank of Australia's next move is what can make or break a reputation. And as 32 of 36 professional market economists surveyed by The Australian Financial Review found out this week, it can be incredibly humbling. The RBA's shock decision to hold the cash rate totally wrong-footed most of these experts, leaving them scrambling to explain what happened.
