Malcolm Maiden

Malcolm Maiden

Malcolm Maiden analyses and comments on business, the markets and the economy.

Shorten learns from history but a mining tax still won't fly

Malcolm Maiden Discussions about a new mining tax would be handicapped by the legacy of Labor's previous attempts.

Malcolm Maiden

NAB boss Andrew Thorburn makes tough call on British banking assets

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Malcolm Maiden NAB chief executive Andrew Thorburn was actually praised by banking analysts on Thursday morning after he announced almost $1.

Malcolm Maiden

NAB's Andrew Thorburn cleans decks, but he hasn't cleared them

NAB has posted heavy charges for its troubled UK arm - but are they the end of the matter?

Malcolm Maiden NAB chief executive Andrew Thorburn was actually praised by banking analysts on Thursday morning after the bank announced almost $1.

ATO's case against Chevron underlines difficulties of tax reform

The ATO is after between $212.5 million and $258.8 million in back tax and between $64.7 million and $21.3 million in penalties,

Malcolm Maiden I wish I could get a list of G20 delegates and send them copies of the documents Chevron and the Australian Tax Office have filed for Chevron’s appeal against an ATO claim for back-taxes and...

Glencore has work to do if it wants to grab Rio

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Malcolm Maiden A merger with Rio Tinto is a no-brainer for Glencore and its boss, Ivan Glasenberg, but the idea is less compelling for Rio chief executive Sam Walsh, the rest of Rio's board and Rio's shareholders.

Two statements define RBA's status quo

The value of the Australian dollar is till too high, the Reserve Bank of Australia believes.

Malcolm Maiden The Australian dollar fell on the Reserve Bank's announcement that its cash rate is still on hold at 2.5 per cent because two crucial pieces of language were essentially unchanged.

Malcolm Maiden

Rio Tinto-Glencore merger is possible - at a price

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Malcolm Maiden A merger with Rio Tinto is a no-brainer for Glencore. For Rio’s board and its shareholders, however, the price will have to be right, and so will the currency.

Goalposts moving as RBA prepares to meet

Malcolm Maiden.

Malcolm Maiden The goal-posts have moved since the Reserve Bank met a month ago, left its cash rate at 2.5 per cent, and issued an anodyne statement declaring as it had all year that rates were in "a period of...

Talk is cheap but tax avoidance is tough to beat

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Malcolm Maiden It is easier to avoid corporate tax than avoid talking about corporate tax avoidance at the moment, and there are no easy answers.

Does Medibank have the muscle to force healthcare costs down?

Malcolm Maiden Something interesting has been happening to healthcare costs in America since Barack Obama's Affordable Care Act was passed in 2010.

Don't yield to fear – it's only an adjustment

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Malcolm Maiden There is an argument doing the rounds that high-dividend-yield shares are on the nose.

BHP is not only leaner, it's greener

BHP Billiton

Malcolm Maiden The environmental report that BHP Billiton releases with its annual report shows that the giant group casts a long shadow. No surprise there.

Reserve Bank stirred but not shaken by housing boom

NEWS - Reserve Bank Governor Glenn Stevens speaking at an Economic Society of Australia Business Luncheon in Brisbane.

Malcolm Maiden The Reserve Bank revealed in last week's minutes of its September interest rate-setting meeting that it was increasing its scrutiny of Australia's hot housing market.

Agricultural commodity prices are crashing too

Illustration: Rocco Fazzari

Malcolm Maiden The mining commodity price squeeze was making headlines again on Tuesday as iron ore fell to a five year low and BHP Billiton announced that 700 Bowen Basin coal mining workers would go, but the...

Malcolm Maiden

United States' takeover boom could be going global

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Malcolm Maiden Investment bankers I met on Wall Street told me that for now, animal spirits had returned to the market.

Arrium looks cheap on paper - if you are brave

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Malcolm Maiden Cold maths suggests the thrashing Arrium shareholders have handed out on the stock exchange was overdone.

Pay for Australian CEOs is down, but it's still too high

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Malcolm Maiden You can't expect to be taken seriously when your top spokesperson pulls an eye-watering 63 times average earnings.

Wall Street may surprise and take a rate rise in its stride

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Malcolm Maiden The minutes of the Reserve Bank’s September 2 rate-setting meeting show that the central bank intensified up its scrutiny of rising housing prices and home loan gearing without changing the...

Malcolm Maiden

On the bright side, there's signs of a lift-off in the Qantas result

Alan Joyce

Malcolm Maiden Alan Joyce says Qantas’ statutory loss of $2.8 billion is confronting. The thing investors with nerves of steel will confront however is a classic timing question.

Vertigan shows the NBN is worth doing


Malcolm Maiden The Vertigan report on cost-benefit equations for various broadband rollout options gives Labor's aborted fibre to the home project the dunce's cap.