Stephen Bartholomeusz

The worst could be over for Santos

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Anxiety about the impact of the low oil price on the group's balance sheet is receding, while the prospect of it being a target has also boosted its share price.

Fortescue needs more than cost cutting to survive

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Fortescue's ability to slash costs is impressive, but it must also make structural changes to its balance sheet to ensure its survival over the next few years.

The wider significance of Murray Goulburn's raising

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The milk processor's plan to undertake a $500m capital raising has the potential to not just transform the co-op itself but to have a major impact on Australia's milk industry.

The market should decide miners' fates

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As iron ore prices dive, politicians may be tempted to subsidise sub-economic production today with forgone volume and margins tomorrow. That would not be in Australia's best interests.

Downgrades will test iron ore miners' steely resolve

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In a prolonged period of low iron ore prices and negative cash flows, only the miners with strong balance sheets are likely to survive.

Why GPT's Cameron is a perfect match for Suncorp

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Michael Cameron's extensive experience in financial services suggests he will be well equipped to oversee the hybrid nature of Suncorp's businesses and strategy.

Why GE cashed out of finance

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The regulatory climate in the US left GE's finance unit in no man's land, but its assets are likely to be worth a lot more outside of GE than within it.

The contrasting fortunes of oil and iron ore

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While the oil and gas sector can adjust relatively quickly to create something of a safety net from crashing prices, it's a different story for iron ore miners.

The gas sector's shifting landscape

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The gas supply deal that AGL has struck with Esso and BHP has implications for NSW's energy security and highlights the structural forces reshaping the gas market.

Shell sees an opportunity in the oil price rout

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It might appear contradictory for Royal Dutch Shell to acquire BG Group while slashing its spending, but history suggests the strategy could pay off.

A world of pain for Atlas Iron

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Atlas Iron's voluntary suspension suggests there will be no relief in sight for smaller, higher-cost iron ore producers.

Harper's hit to big business will be a blow to competition

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The Harper review's recommendations for market power provisions may result in unintended consequences for Australia's competition landscape.

Why BHP shareholders shouldn't be too worried about South32

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Recent valuations of BHP's spin-off are vastly lower than the price-tag the miner assigned the entity's assets, but there is a strategic dimension to its value.

There's no relief yet for iron ore and oil producers

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In both the iron ore and oil markets, the rebalancing of supply and demand will only occur once higher-cost, sub-economic production is displaced.

The points of contention in the Harper review

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There are plenty of sensible ideas contained within the Harper report, but some recommendations are sure to rankle some players, including the ACCC.

A big step in Treasury Wine's evolution

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Treasury Wine's massive changes to its supply chain network will go a long way in simplifying the company's unwieldy 83-brand portfolio.

The problem with Hockey's bank deposit tax

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The rationale for a bank deposit levy is straightforward but it could have some unintended consequences.

A remarkable parcel of smiles for Caltex

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The biggest block trade in the Australian sharemarket’s history will also free up Caltex’s options for rewarding local shareholders.

Tech’s challenge to the banks comes with risks

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While peer-to-peer platforms pose risks to the bottom line of traditional lenders, there are also questions about how these firms will perform in a higher-rate environment.

A cautious approach is needed on bank capital

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The smaller banks are pushing for regulation that enhances their competitiveness and handicaps their bigger rivals -- but there will be national economic implications.

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