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In The News

5 things you need to know today

  • Two more proxy advisers, ISS Governance and CGI Glass Lewis, have come out in support of the Myer board, bolstering opposition to the bid by shareholder Solomon Lew to get two seats on the board.  In advice to clients ahead of Myer's November 24 annual meeting, both ISS and CGI Glass Lewis recommended in favour of the election of chairman-designate Garry Hounsell and two other board-endorsed independent directors.
  • Labor is threatening a retaliation unless Malcolm Turnbull drops his threat to refer opposition MPs to the High Court. Turnbull is threatening to send up to four Labor MPs to the High Court if Opposition Leader Bill Shorten did not act. However, Labor has named another five Coalition MPs who have been previously subject to suspicion.
  • ANZ and NAB have agreed to pay a collective $100 million penalty for their involvement in the rigging of overnight bank bill swap rates after a settlement of the action brought by the Australian Securities and Investments Commission (ASIC) was ratified by the Federal Court late last week. Westpac will still fight the charges after ANZ, NAB and 14 other overseas banks settle.
  • MasterCard chief innovation officer, Garry Lyons, is predicting Australia is ripe for the next generation of payment options. Consumers will be able to make payments by waving a phone, using voice-based personal assistants, through social messaging apps, or "augmented reality" programs over the coming years, Lyons said on a visit to Australia last week.

 

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Published on: Monday, November 13, 2017


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