Less than week after being knighted by the Queen, Australia's king of retail malls, Frank Lowy, is abdicating this throne.
Elizabeth Knight comments on companies, markets and the economy.
Rio Tinto has bowed to the collective bulldoze from its major investors and plucked Simon Thompson from the ranks of its board to become its chairman.
The banks had seen where the process was heading.
The bets on interest rates and house prices are firmly connected because if the property market falls precipitously, it will be another factor inhibiting any move by the RBA to raise rates.
The banks can't stop it. The Liberal Party's opposition has been bulldozed by the Nationals.
Arch enemies, Myer's largest shareholder, Solomon Lew, and its new chairman, Garry Hounsell, both claimed victory following the company's annual meeting on Friday.
No matter how good a new idea may be, if it involves disrupting the status quo, it will face inertia.
A group of billionaires gathered with a clutch of the country's most senior bank executives and captains of Australia's $2 trillion superannuation industry on Thursday to discuss a major change in the financial system.
Thanks to the retail experiment I conducted over the past month in buying bathroom supplies, I can say with confidence that one of the largest retail operators in this space is in for a nasty shock.
There are many red flags to provide warnings when buying shares but one that even the most unsophisticated investor can watch out for is a company's directors or senior management selling shares.