No wonder he is known as the man with the Midas touch. As rag-trader Solomon Lew banks profits of $191 million from his stakes in David Jones and Country Road, shares in his listed investment vehicle Premier Investments have soared to near record levels as investors wait to see what the $2 billion man will do next.
''You've only got a few hours left, so we can be entirely honest and frank. Banks are bastards, aren't they?''
The big institutions all knew that there was a trade-off involved in Woodside's plan to assist Shell's exit from its register with a $2.7 billion selective share buyback.
Americans are going wild about sangria, but rather than drinking their own they are increasingly reaching for an Australian brand from the Riverina district.
Medical device maker ResMed will reveal on Friday whether its push to regain share in the sleep apnoea therapy market has boosted sales, but what investors are waiting for are details on new product releases.
The Australian Securities and Investments Commission wants more details from the administrators of failed ASX-listed Penrice Soda Holdings, who say they have clear grounds to pursue an insolvent trading claim against directors for as much as $22.5 million.
Australian shares have posted their strongest month for 2014, getting the new financial year off to a strong start.
James Packer’s chief lieutenant in his push to enter Japan, Todd Nisbet, has met with Osaka governor Ichiro Matsui, who said the prefecture was committed to developing Asia’s top integrated casino resort.
Singaporean Frasers Centrepoint has declared it will not raise or change conditions for its $2.6 billion offer for Australand, leaving investors a week to accept or see the deal disappear.
Proxy votes cast ahead of Woodside Petroleum's shareholder vote on a $US2.68 billion selective buyback of shares from Royal Dutch Shell indicate the proposal is doomed to failure.