{
}
AustralianSuper, the largest superannuation fund in Australia, has divested its US$580 million stake in WiseTech Global due to governance concerns following the return of founder Richard White as executive chairman and the resignation of four independent directors. A review revealed that White misled the company regarding personal relationships and settled a dispute for US$2 million, while also purchasing a property for an employee. Despite these issues, WiseTech remains attractive to investment analysts, with 14 buy recommendations, although its shares have fallen over 30% since the board changes.
The ASX 200 rose 16 points (+0.20%) to 8209 as of 2.30pm AEDT on 14 November 2024, amid mixed labour market signals. The Australian economy added 15,900 jobs in October, below expectations, while the unemployment rate remained steady at 4.1%. In the banking sector, Commonwealth Bank shares hit a record high following a strong Q1 profit report, while the IT sector also saw significant gains. Conversely, the gold sector faced declines, and iron ore prices dipped below $100, affecting major miners.
Richard White
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
AustralianSuper divests 580 million stake in WiseTech over governance issues
05:30 27.03.2025
asx 200 rises slightly amid mixed sector performances and job growth data
Singapore Dollar
Australian Dollar
Euro
United States Dollar
Macquarie Group Limited
Mineral Resources Limited
Fortescue Ltd
National Australia Bank Limited
BHP Group Limited
ANZ Asia Ltd.
Commonwealth Bank of Australia
Rio Tinto
Westpac Banking Corporation
AUS
Richard White
Show more
06:08 14.11.2024
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Finance Mergers & Acquisitions
Banking Regulations
Global Financial Events
Market Analysis and Predictions
Retail and Consumer Goods
Financial Scams and Security
CEO Changes
Global Trade Developments
Central Bank Actions
GDP Growth & Recession Forecasts
Government Policies
Hedge Funds & Private Equity
Industry Mergers & Acquisitions
Inflation and Monetary Impact
Startups & Entrepreneurship
Workplace Trends
Government Economic Policies
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Bank of America Corporation
Apple Inc.
Wells Fargo & Company
Citigroup Inc.
Barclays PLC
Morgan Stanley
Deutsche Bank Money Market PP
Lloyds Banking Group plc
Huawei Technologies CO. Ltd.
American Express Company
Credit Suisse Strategic Income I
UBS Group AG
AMERICAN EXPRESS
Northern Trust Corporation
Berkshire Hathaway Inc.
Amazon.com, Inc.
Banco Santander, S.A.
Currencies:
United States Dollar
Euro
Chinese Yuan
Swiss Franc
British Pound Sterling
Indian Rupee
Japanese Yen
Canadian Dollar
Australian Dollar
Russian Ruble
Saudi Riyal
United Arab Emirates Dirham
Indonesian Rupiah
Hong Kong Dollar
Danish Krone
Offshore Chinese Yuan
Singapore Dollar
Ghanaian Cedi
Mexican Peso
South Korean Won
People: