1. Criminal cartel charges over a $2.5 billion capital raising by the ANZ Bank, with details expected to be revealed this week, are a wake-up call to ASX-listed companies to treat all shareholders the same, according to ASA CEO Judith Fox.
“Without specifically commenting on the ANZ situation, boards do not necessarily undertake capital raisings on a regular basis.
“They rely on the advice of investment banks, which have a history of favouring institutional shareholders over retail shareholders and also benefiting from the opaque way in which allocations of new shares are often conducted.
“Shareholders expect directors to challenge that advice, so they can be confident that all shareholders are being treated equally and that some parties are not benefiting at the expense of other shareholders.”
2. The Australian dollar is charging higher, hitting the highest level since late April on the back of strong economic data and renewed US dollar weakness. At 7am AEST, the AUD was up 1.06% to 0.7646.
3. Here are all the things from Apple’s biggest conference of the year, including updates for:
4. Here’s a look at where home prices have fallen most in Sydney:
While prices in Sydney have fallen 4.2% over the past 12 months, partially reversing strong gains seen in prior years, the chart shows that the city-wide fall has not been uniform in nature.
5. Terrifying footage of the Guatemala volcano that’s killed at least 62 people is being posted online. Volcan de Fuego first erupted on Sunday, sending giant mud and ash slides down the mountain. Many of those who stayed to watch the volcano’s initial explosions had a close shave:
6. Barnaby Joyce has a target on his back as John Howard’s former deputy John Anderson eyes a political comeback. Anderson told The Australian that he had been approached by several Nationals figures to run in the seat of New England — Joyce’s electorate — but has not yet considered them “serious proposals”.
7. The One Nation fallout continues. Senator Brian Burston is expected launch an effort to have Pauline Hanson brought before the Senate privileges committee for breaching Senate rules by trying to punish him for refusing to vote the way she wants on company tax cuts.
8. Philippine President Rodrigo Duterte is being slammed by critics for kissing a married woman on the lips in front of thousands of overseas Filipino workers in South Korea. The SMH reports, one senator called the act “a despicable display of sexism and grave abuse of authority”.
— Reuters Top News (@Reuters) June 4, 2018
9. “Päntsdrunk” is the latest Scandi lifestyle philosophy you need to know about. Why? Because it involves drinking wine alone in your underwear and bingeing on Netflix. Yass. It is such a common practice that Finland’s Ministry of Foreign Affairs designed two emojis to help the explain Finnish culture to foreigners:
It’s no surprise Scandinavia is one of the happiest places in the world.
10. Serena Williams is pulling out of the French Open with an injury on the eve of her most anticipated match in over a year. Williams was slated to play Maria Sharapova in the fourth round of the tournament although a pectoral injury is preventing her from serving and therefore she has withdrawn.
“I’m beyond disappointed. I gave up so much, from time with my daughter to time with my family. I put everything on the court … So it’s really difficult to be in this situation,” said Williams.
Have a great day.
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