Alan Kohler is one of Australia’s most experienced commentators and journalists. Alan is the founder of Eureka Report, Australia’s most successful investment newsletter, and Business Spectator, a 24-hour free business news and commentary website. He also hosts Inside Business, a half-hour Sunday programme on the ABC, is the finance presenter on the ABC News - and producer of the nightly graph (or two).
BHP has decided to trim its spending on the Jansen potash project in Canada as it reins in boom-time capital investment plans, but argues that will not affect the longer term development of the project.
With a big transforming acquisition off the table, Bernie Brookes will be thinking hard about Myer’s options to release pressure -- and aware that improved earnings would make his store even more vulnerable to predators.
The South African Woolworths takeover bid for David Jones will see Myer cut off from its only obvious means of transformation in a low-growth environment. But there is a vulnerability to the bid that a rival may exploit.