Stephen Bartholomeusz

Fox's ticket to a closer Time Warner viewing?

The cash released from 21st Century Fox’s BSkyB deal will help any further efforts for a Time Warner bid, enabling measures to support Fox’s share price and reduce the debt requirement of a revised offer.

NAB needs a clean exit strategy from the UK

The spectre of NAB's UK exposures appears to have diminished, but incoming chief executive Andrew Thorburn will still face challenges in selling off its non-core assets without destroying shareholder value.

The regulatory hurdle that could thwart the NBN rollout

Regulatory uncertainty surrounding the compensation Telstra is scheduled to receive in exchange for shutting down its fixed-line network could have big consequences for the telco and for the delivery of the NBN.

How stability is paying off for the new Macquarie

Despite a soft start to the year, Macquarie's shift towards annuity incomes is enough for Nicholas Moore to be confident of greater full-year profit, as he eyes market conditions in the second half.

Woodside's non-Shell shareholders have nothing to lose

If Woodside's proposed buyback of Shell's residual shareholding is rejected, it would be a costly setback for Shell and a small embarrassment for Woodside directors, but there will be few implications for non-Shell shareholders.

BHP's battle against a slumping ore price

BHP Billiton's productivity strategies appear to be paying off, with its low-cost, high-quality ore starting to drive out lower grade production in China. This could see the big miner wield more influence over prices in the long term.

Video: BHP's iron ore long game

BHP is hitting record production highs and will hit another record next year. In this video Stephen Bartholomeusz explains what that will mean for the big and small Australian miners. [unlocked]

Is another financial crisis on the cards?

Financial markets seem complacent about the levels of risk within the system at present, but changes to the US regulatory environment could bring about some unintended consequences.

Why the price for Country Road is right for Woolworths and Lew

New independent expert analysis suggests any 'collateral benefit' received by Solomon Lew for his stake in Country Road may be more muted than previously thought.

The risky business of financial sector reform

1 comment
Australian banks' disproportionate exposure to home loans is a source of weakness for the sector, but any changes to the system must account for the trade-offs between risk, competitiveness and efficiency.

ASIC takes a principled stance on DJs

ASIC's intervention in the David Jones acquisition may have been fruitless, but it was needed to demonstrate that the regulator isn't prepared to overlook breaches of the spirit of the law.

A wily Fox sets its sights on Time Warner

Although 21st Century Fox's bid for Time Warner was rejected, it could still be vulnerable, given Rupert Murdoch's history of persisting and paying whatever it takes to succeed.

Lifting foreign investment caps won’t unshackle Qantas

Qantas is now open to foreign investment, and a potential associated restructure. But who would want to buy into the airline in its current state?

Murray's blueprint highlights the financial sector's resilience and risks

The Financial System Inquiry's interim report highlights the stability of the financial system while recognising the challenges that new technology will pose for the incumbents and regulators.

The offer DJs shareholders couldn't refuse

Resounding shareholder approval for Woolworths' bid for DJs will likely diminish the prospect of ASIC intervention in spite of concerns over collateral benefits, while Solomon Lew will walk away with a tidy profit.

More trouble in the eurozone? You can bank on it

The woes of Portuguese bank Banco Espirito Santo have renewed fears about the structural weaknesses of the European banking system, which will remain a source of vulnerability until the ECB takes definitive action.

The markets' multi-trillion dollar question for the Fed

The Federal Reserve is aware of the challenges it faces in ending QE without triggering another crisis, but markets have already focused their attention to the timing and magnitude of a rate rise.

Scentre stage to the search for yield

Scentre Group's raising illustrates the great attractiveness of overseas debt markets, in the window of time where central banks are weighing up the economic stability outlook and still leaning towards emergency-level interest rates.

A glimmer of hope for Alcoa

Alcoa's prospects are starting to brighten as the fundamentals for the aluminium sector are moving towards a deficit of supply, while it also expands its exposure to high-value automotive and aerospace sectors.

A rich Country Road offer, but not overdressed

Fresh details cast Woolworths' offer in a new light in relation Country Road's prospective earnings -- and will give pause to concerns of a ‘collateral benefit’ for Solomon Lew.