Yesterday
Atlas Arteria dodges second strike on remuneration at AGM
IFM Investors backed the toll road group’s remuneration report this year but the company has hit another setback in its attempts to raise toll fares in the US.
This Month
Optus denies ‘cloaking’ Deloitte report on 2022 cyberattack
A press release published after Optus’s 2022 cyberattack had legal purposes, even though they were never mentioned, Optus has argued in a court appeal.
Transurban executives ‘no longer required’ after restructure
Two of Transurban’s top executives will leave on June 1 after the company decided to shift away from state-based oversight.
NSW toll reform suggestions ‘a recipe for disaster’: IPA
NSW’s tolling review should dump suggestions of overriding the state’s toll road contracts with legislation because it risks spooking investors, says Infrastructure Partnerships Australia.
- Exclusive
- Airports
Virgin Australia goes to war over airport ‘gold plating’
The airline’s chief financial officer, Race Strauss, says much of the $15 billion being spent by major airports on infrastructure is unnecessary.
Atlas Arteria’s ‘back-up plan’ to fight French taxes
The tollroad group is cutting costs and jobs as it tries to keep dividends at current levels, chief executive Graeme Bevans says.
Transurban wants more drivers to see the benefit of toll fares
In a strategy presentation to investors, the motorway giant’s chief executive Michelle Jablko said the focus would be on ‘running the business better’.
NBN fixer Stephen Rue to restore Optus’ credibility
Stephen Rue has been charged with restoring Optus’ reputation with consumers and improving its services when he leaves the NBN to run the beleaguered telco group.
Why TPG Telecom changed its mind on Optus
After the departure of former Optus boss Kelly Bayer Rosmarin, the rival telco groups decided to let “bygones be bygones”.
April
Downer EDI employees, council workers ‘seriously corrupt’, ICAC finds
Two former employees of Downer EDI were corrupt on transport projects and the company did not always comply with rules dealing with subcontractors, investigators found.
Optus parent writes off billions and strikes $1.6b deal with TPG
Singtel has had to write off billions of dollars on Optus, offset partly by the beleaguered telco striking a $1.6 billion deal with Australian rival TPG.
- Updated
ASIC secretly probed IAG’s Greensill disclosure
As IAG raised $750m, a hedge fund’s tip-off claimed there was scant detail about exposure to fast financier Greensill Group. Since then, $7b in gross claims have been declared.
Aussie Broadband to call Barrenjoey, Luminis in Superloop court battle
Investment bankers and Superloop directors and executives will be subpoenaed as witnesses in a Federal Court trial as Aussie Broadband continues to fight its rival over a forced share sale.
DP World profit tumbles 34pc after wharfie strikes
The stevedores giant’s annual profits have slid following the dispute over new wage agreements and after container volumes fell, the company’s accounts show.
- Exclusive
- Infrastructure
Plenary Group sells 49pc stake to sovereign wealth fund ADQ in $1b deal
Founders and some executives of the infrastructure investor will receive a windfall after getting a cash injection from the Abu Dhabi investment group.
NSW government must ‘consult’ before changing WestConnex
Transurban has confirmed that the state cannot alter the structure of WestConnex without permission from the toll road group, a hearing revealed.
The country’s busiest airport still hasn’t hit pre-pandemic levels
High airfares and a reluctance by bosses to fork out money for business class seats are hurting demand for domestic flights, says the boss of Sydney Airport.
- Analysis
- Governance
A hot tip for CEOs – reputation counts for everything
Woolworths, Qantas and AMP are among once-loved brands that have faced customer ire. Now they’ve added reputation metrics to executive pay calculations.
Transurban’s WestConnex traffic jumps 10pc in a year
The first update from the motorway operator since the controversial Rozelle Interchange opened shows a surge in traffic in the 33-kilometre tunnel network.
GFG Alliance drags its heels on paying Greensill Capital debts
Sanjeev Gupta’s global steel group has not yet paid any of the $900 million it owes to the collapsed supply chain finance firm, despite another debt deal in March.
