Simon Evans
@SimonMEvans
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Senior journalist with The Australian Financial Review. Retail, wine, beer, food, building materials, agribusiness, mergers & acquisitions. [email protected]
South Australia
Joined December 2013
From country Victorian farm to CEO of Australia's largest steelmaker, BlueScope. Tania Archibald almost quit after just six weeks in the steel industry in the 1990s when she joined BHP. But stuck with it.
afr.com
The steel maker’s incoming boss, Tania Archibald, is being urged by investors to maintain capital discipline in any bid for the Whyalla steelworks.
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Dumped James Hardie chairwoman Anne Lloyd defiant over $14b Azek buyout deal. Angry investors forced out three directors in a shareholder revolt at the annual meeting.
afr.com
Fund managers and proxy advisers say the company must look externally, as the current directors have been tarnished by the fallout from its $14 billion Azek buyout.
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The family behind the San Remo pasta brand has taken a 13 per cent stake in troubled Maggie Beer Holdings. The Crotti family joins Bickford’s cordials, which owns 19.9 per cent of the food group.
afr.com
The Crotti family behind the Italian products brand is now the second-largest investor in the gourmet food business named after the celebrity cook.
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A big box ''category killer" in secondhand car sales is growing steadily - six more outlets on the way to add to the 13 up and running. Trying to emulate Bunnings in hardware. ASX-listed Eagers Automotive driving it.
afr.com
Eagers Auto may have just announced a major overseas expansion, but it’s also pinning its hopes on domestic growth with the easyauto123 brand.
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‘We're American now'. James Hardie, domiciled in Ireland, formerly of the Netherlands, and with Australian origins, says executive pay packets need to be aligned with USA practices after $14b Azek buy.
afr.com
The building products group has defended its decision to lower hurdles for incentive packages as chief executive Aaron Erter stands to earn $13 million.
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AFL star, pub baron, yabby peeler: The rise and rise of Mark Ricciuto
afr.com
He was part of the Adelaide Crows’ last premiership before becoming an off-field powerbroker during the club’s years in the wilderness.
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Domino’s dumps discounts after boss complains: ‘It’s 50pc off what?’ Jack Cowin says the pizza group will move to everyday low prices like Bunnings, away from vouchers and discounts which confused customers. https://t.co/NYmfHoIWKV
afr.com
The company said customers were confused about the array of discounts and would buy only when specials were offered.
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Abu Dhabi oil giant, private equity group Carlyle lob $30b takeover bid for Santos.
afr.com
But the offer for the ASX’s second-largest oil and gas producer has been met with a lukewarm reception from investors, who say the price could be higher.
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Australia's other main airline, Virgin, will raise $685m as it returns to being a company listed on the ASX, alongside fierce rival Qantas.
afr.com
Brokers are offering shares at $2.90 each, a discount to what rival Qantas trades at. Demand from fund managers, they say, has been running hot.
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Household cost-of-living pressures aren't letting up. Agribusiness company Elders says meat prices set to rise further over next six months.
afr.com
Elders reports a rebound in profit for the first half on strong cattle and sheep prices, but it falls short of market expectations, sending its shares lower.
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Footwear retailer Wittner has collapsed. Deloitte appointed as administrators to the business which has 20-plus stores, and also sells in David Jones and Myer. Founded in 1912. https://t.co/xK7RYYxh5F
afr.com
The shoe company was founded in 1912 and had more than 20 stores and 25 concessions in Myer and David Jones. But costs have risen as sales have struggled, it said.
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James Hardie shares tumble after $14 billion deal to acquire American outdoor decking and railings giant AZEK, which listed on NYSE in 2020. Renovators tiring of oiling real wooden planks, want composite.
afr.com
As the building material business’ stock price dived, chief executive Aaron Erter rejected concerns it had overpaid for outdoor products company AZEK.
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The beer company part owned by former Australian Test cricketer Brett Lee - Sydney Beer Co - has gone bust. Administrators appointed.
afr.com
The beer company part-owned by the former Test fast bowler has been put into administration amid tough times in brewing.
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The fateful phone call on December 23 that set in train the tumultuous events of last week when the Whyalla steelworks was seized from Sanjeev Gupta and administrators KordaMentha appointed.
afr.com
A call to administrator Mark Mentha two days before Christmas culminated in the dramatic seizure of Sanjeev Gupta’s steel plant two months later.
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KordaMentha back on the job for the second time in nine years. SA Govt fed up with Sanjeev Gupta's unpaid bills. Enacts special legislation to seize control of Whyalla steelworks and put in administrators.
afr.com
The massive South Australian manufacturing operation is being run by KordaMentha, with the federal and state governments signing off on a major support package.
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Mining giant BHP slices its first half dividend payout back to the lowest level since 2017. Demand for iron ore in China is waning.
afr.com
The iron ore mining giant is instead spending more money on developing new operations, focusing on in-demand commodities like copper and potash.
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Australia's biggest wine group, Penfolds owner Treasury Wine Estates, has ditched plans to sell four cheap wine brands, Wolf Blass, Lindemans, Yellowglen, Blossom Hill. Offers were too low.
afr.com
The country’s biggest winemaker had put the prominent low-cost brand on the block along with Wolf Blass and Yellowglen. It couldn’t find buyers.
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Australia's only manufacturer of specialist architectural glass, Oceania Glass, goes bust after 169 years. Owned by private equity group Crescent Capital for five years. Made glass for Aust's Parliament House.
afr.com
Australia’s only maker of specialist glass, whose products were used in Canberra’s Parliament House, could not compete with cheap Chinese imports.
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Wesfarmers paid $230m to buy online marketplace Catch in 2019. It will shut the business later this year after heavy losses. Temu, Amazon have outplayed it.
afr.com
The rise of big international players has prompted the retail giant to wind down the loss-making marketplace, saying it’s the “right thing for shareholders”.
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Are department stores dinosaurs that won't survive? Myer’s mega-expansion with Premier Investments' apparel brands guards against Temu and Shein threat says independent expert Kroll.
afr.com
The independent assessors of the retailer’s proposed purchase of five Premier Investments chains say scale is needed to compete against cheap global giants.
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