ASX seeks to calm investor anger with changes to listing rule waivers
In April, the embattled ASX began conducting a wholesale review of the nation's listing rules, following a fierce backlash over James Hardie's $13 billion purchase of American company Azek. In that instance, a waiver was granted that allowed James Hardie to bypass a shareholder vote, issue new shares and make a wildly unpopular acquisition.
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Sydney Morning Herald
13 minutes ago
- Sydney Morning Herald
EU and US agree trade deal with 15% tariffs for European exports
Frankfurt: The European Union has ended months of dispute with US President Donald Trump by accepting a deal that imposes 15 per cent tariffs on billions of dollars in exports, submitting to the terms out of concern he might otherwise punish Europe with higher penalties. The outcome appears set to lift prices for American consumers and hurt sales for European exporters, in the latest example of global brinksmanship as Trump forces tariffs on major economies in the hope of raising huge sums of revenue for the US government. In a surprise addition to the deal, the EU agreed to buy energy worth $US750 billion from the US over the years ahead – part of the bloc's broader objective of reducing reliance on Russian gas. Trump said the EU would also invest $US600 billion more in the US economy, echoing a vague investment pledge in a trade deal with Japan last week. The deal was unveiled in Scotland on Sunday during Trump's visit to his golf estates, as hundreds of protesters gathered to object to his visit, while supporters chanted his name outside some of his events. 'I think this is the biggest deal ever made,' Trump told reporters after he emerged from talks with European Commission President Ursula von der Leyen. European industries were divided on the trade dispute over recent weeks, with German car makers anxious to gain a deal because of the threat to their sales from even higher tariffs, while French industry canvassed retaliation against US demands. Von der Leyen confirmed the 15 per cent tariff applied 'across the board' and framed the outcome as a win for stability. 'We have a trade deal between the two largest economies in the world, and it's a big deal,' she said.
The Age
13 minutes ago
- The Age
EU and US agree trade deal with 15% tariffs for European exports
Frankfurt: The European Union has ended months of dispute with US President Donald Trump by accepting a deal that imposes 15 per cent tariffs on billions of dollars in exports, submitting to the terms out of concern he might otherwise punish Europe with higher penalties. The outcome appears set to lift prices for American consumers and hurt sales for European exporters, in the latest example of global brinksmanship as Trump forces tariffs on major economies in the hope of raising huge sums of revenue for the US government. In a surprise addition to the deal, the EU agreed to buy energy worth $US750 billion from the US over the years ahead – part of the bloc's broader objective of reducing reliance on Russian gas. Trump said the EU would also invest $US600 billion more in the US economy, echoing a vague investment pledge in a trade deal with Japan last week. The deal was unveiled in Scotland on Sunday during Trump's visit to his golf estates, as hundreds of protesters gathered to object to his visit, while supporters chanted his name outside some of his events. 'I think this is the biggest deal ever made,' Trump told reporters after he emerged from talks with European Commission President Ursula von der Leyen. European industries were divided on the trade dispute over recent weeks, with German car makers anxious to gain a deal because of the threat to their sales from even higher tariffs, while French industry canvassed retaliation against US demands. Von der Leyen confirmed the 15 per cent tariff applied 'across the board' and framed the outcome as a win for stability. 'We have a trade deal between the two largest economies in the world, and it's a big deal,' she said.
Sydney Morning Herald
an hour ago
- Sydney Morning Herald
Humble suburban bowls club thwarts casino giant
A humble suburban bowls club may have thwarted a multibillion-dollar American casino company's attempts to introduce its brand to Australia via its planned takeover of the embattled Star Entertainment Group. Shareholders of Star, which operates casinos in Brisbane, Sydney and the Gold Coast, last month approved Bally's planned takeover of the company. During a visit to Australia in April, the chairman of Bally's Corporation, Soo Kim, told this masthead the company planned to overhaul Star's assets, with a shift away from a VIP-focused business. But if the casino giant was betting all its chips on a Bally's rebrand, it might just be out of luck. When it tried to trademark its name for hospitality use in Australia earlier this year, Bally's found a bowls club in Sydney's north shore had beat it to the punch by only half a year. The Balgowlah Bowling Club – better known by locals as The Bally – applied for trademark protection of its colloquial name last September, less than six months before Bally's Corporation tried to protect its own name. Club secretary manager Tony Wagener agreed it was good timing on his part. 'I've really got my finger on the pulse of this sort of stuff,' he laughed. But on a more serious note, Wagener said The Bally name was vital for the bowls club, which almost went under last year and continues to seek community support to stay afloat.
