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☆ Wall Street bonuses to rise this year as deals return, says report
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +1 min

Bonuses are poised to recover on Wall Street this year, fueled by strong equity market gains and recovery in investment banking, according to financial services compensation firm Johnson Associates. As initial public offerings come back, bonuses for equity underwriters are expected to rise 10% to 20% this year. "We are seeing almost all segments on Wall Street raising compensation", said the firm's founder Alan Johnson. Higher trading volumes are expected to increase bonuses for bond traders between 10% and 20%, and 5% to 15% higher for equity traders. Executives working at wealth management will probably have 5% to 10% higher compensation, whereas asset management and hedge fund employees are expected to receive 5% higher bonuses.

Persons: Johnson, Alan Johnson Organizations: Johnson Associates, Investment Locations: U.S

☆ Australia’s Qantas to pay $79 million to settle ‘ghost flights’ case
▼ + stars: | 2024-05-06 | by ( ) edition.cnn.com time to read: +2 min

Sydney — Qantas Airways has agreed to pay 120 million Australian dollars ($79 million) to settle a lawsuit over the sale of thousands of tickets on already canceled flights, in an attempt to end a reputational crisis that has engulfed the airline. The fine is the biggest ever for an Australian airline and among the largest globally in the sector, although some Australian banks and casino operators have faced higher penalties. “We recognize Qantas let down customers and fell short of our own standards,” CEO Vanessa Hudson said in a statement. It had said the airline sometimes sold tickets to flights weeks after they were canceled. The ACCC’s Cass-Gottlieb noted that the settlement included a promise from Qantas not to repeat the conduct.

Persons: Vanessa Hudson, ”, Hudson’s, Alan Joyce, Hudson, Gina Cass, Gottlieb, ACCC’s Cass Organizations: Sydney, Qantas Airways, Qantas, Australian Competition, Consumer Commission, Federal Court, ACCC Locations: Hudson

☆ Karen Read trial: Boston cop John O’ Keefe’s girlfriend goes on trial for murder
▼ + stars: | 2024-04-16 | by ( Faith Karimi | ) edition.cnn.com time to read: +8 min

O’Keefe’s body was found in the snow on January 29, 2022, outside the home of a fellow Boston police officer in Canton, Massachusetts. Boston Police Department/AP“It’s fair to say a large number of people in Massachusetts know about this case,” Medwed told CNN. As the trial gets underway at the Norfolk County Superior Court building in Dedham, Massachusetts, here are the key highlights. The body of police officer John O'Keefe was found near the fire hydrant outside this home on Fairview Road in Canton, Massachusetts. Protesters gather outside the courthouse during a recent pretrial hearing for Karen Read at Norfolk County Superior Court in Dedham, Massachusetts.

Persons: John O’Keefe, Karen Read, Daniel Medwed, John O'Keefe, ” Medwed, haven’t, Read, Craig F, Walker, Alan Jackson, David Yannetti, Jackson, O’Keefe, ” Jackson, “, Kevin Reddington, Michael Morrissey, ” Morrissey, David L, Ryan, Adam Lally, “ It’s, ” Lally, Helena Rafferty, Karen Read ”, Beverly Cannone, Cannone, ” Cannone, Read’s Organizations: CNN, Boston Police, Boston, Lexus, Northeastern University . Boston Police, Boston Police Department, Court, Boston Globe, US, Office, District of, Massachusetts State Police, Protesters, Superior, WFXT, Canton Police Locations: Canton , Massachusetts, Canton, Norfolk County, Boston, Massachusetts, Norfolk, Dedham , Massachusetts, Fairview, …, Aruba, District of Massachusetts, Superior Court

Conservatives have looked to country music over the decades to voice political beliefs and react to social change. Maines called Keith’s song “ignorant,” while Keith began performing in front of a doctored photo of Maines with Saddam Hussein. KEITH WAS A FAN OF THE MILITARY, AND VICE VERSAIn the years following “Courtesy,” Keith participated in 18 USO tours, performing for more than 250,000 service members in his lifetime. Lucas says he and others sent CDs with Keith’s song, “American Soldier,” to the wives of the men serving with his son. Keith “emboldened others in country music to think viewpoints that might be perceived as angry and conservative were okay to express,” Willman says.

Persons: — Toby Keith’s, Keith, We’ll, Jason Aldean, Jason Isbell, ”, Chris Willman, “, Willman, Willie Nelson, Amanda Marie Martinez, Jim Crow America, ” Martinez, Merle Haggard, “ Okie, Haggard, Ronald Reagan, Richard Nixon, Hillary Clinton, Barack Obama’s, “ Let's, George W, Bush, Obama, Donald Trump, it’s, Joseph M, Thompson, Alan Jackson, Jackson, Darryl Worley’s “, Clint Black’s “, Natalie Maines, Maines, Saddam Hussein, KEITH, ” Keith, John A, Lucas, ” Lucas, ’ ” Lucas, Aldean, Oliver Anthony’s “ Rich, Keith “, ” Willman, Pat Finnerty, Toby Keith, Hogan, ” Finnerty, ‘, Finnerty, Jude ’, it’d, Maria Sherman Organizations: Country Music, Variety, Pentagon, Dixie Chicks, U.S . Army, Army, North Locations: NORFOLK, Va, U.S, Afghanistan, Iraq, America, Vietnam, Muskogee, Iran, Clint Black’s “ Iraq, Richmond , Virginia, Tennessee, Richmond, ”, Philadelphia, Los Angeles

The pending perjury trial of three retired Philadelphia police detectives could prove an exception, if they themselves are not cleared by alleged mistakes by District Attorney Larry Krasner’s office. Former detectives Martin Devlin, Manuel Santiago and Frank Jastrzembski have asked a judge to dismiss the case. That trial testimony was still fair game when Krasner, a civil rights lawyer focused on criminal justice reform, took office in 2018. He charged the Wright detectives in 2021, days before the five-year deadline expired. Last year, a mistake by prosecutors sank a police perjury case in Manhattan, when a judge halted the trial over their failure to turn over evidence to the defense.

Persons: Larry Krasner’s, Martin Devlin, Manuel Santiago, Frank Jastrzembski, Krasner, exoneree Anthony Wright, Wright, Krasner's, Sam Silver, Devlin, —, acquitting, Santiago, “ We’re, we’re, ”, Alan J, Tauber, There's, Marissa Bluestine, “, Bluestine, Maurice Possley, Lucretia Clemons, Brian McMonagle, ” Santiago Organizations: PHILADELPHIA, Philadelphia, nab, New, National, Pennsylvania Innocence, Quattrone Center, Fair Administration, Justice, University of Pennsylvania, Philadelphia Inquirer Locations: U.S, New Jersey, Jastrzembski, Philadelphia, Pennsylvania, Manhattan

☆ 5 tips to keep your 5G network secure
▼ + stars: | 2023-11-28 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +6 min

To keep your enterprise 5G network secure, start by choosing a reputable provider. Whether you use those providers for your enterprise 5G network or build your own private 5G network, it's important to keep things secure. Update regularly, and use multifactor authenticationIt's one thing to build your 5G network securely — it's another challenge to keep it safe. "Ensure all devices connected to the 5G network are regularly updated to patch known vulnerabilities," he said. For that reason, education should be a huge part of keeping your 5G network secure.

Persons: —, Sandeep Raithatha, Alan Woodward, Woodward, eSIMs, Parm Sandhu, Sandhu, Alan Jones, Keith Brownsword Organizations: Service, Ericsson, 5G, Virgin Media O2, University of Surrey, NTT Ltd, 5G's Locations: Ireland

☆ How Emirates will keep the world's largest airliner flying for years to come —even though Airbus doesn't make it anymore
▼ + stars: | 2023-11-25 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

Emirates announced investments of more than $1.5 billion to keep its 119-strong fleet of Airbus A380s flying. While Airbus shut down production of the A380 in 2021, the move shows Emirates' continued commitment to the jet. AdvertisementAlthough global airlines continue to retire the mammoth Airbus A380 in favor of more fuel-efficient twin-engine aircraft, Emirates is long from giving up on its flagship airplane. AdvertisementThe billion-dollar investment comes despite Airbus shutting down production of the A380 in 2021 after sending off its last double-decker to Emirates. In January, the first of 67 superjumbos completed its full cabin overhaul as part of Emirates' $2 billion retrofit program.

Persons: —, Sir Tim Clark, Clark, Bob Lange, Alan Joyce Organizations: Emirates, Airbus, Service, Dubai Airshow, Collins Aerospace, Honeywell, Pratt & Whitney, Lufthansa Technik, Boeing, British Airways, Qantas, Korean, CNN Locations: Emirates, UAE, London, Los Angeles . Emirates

☆ Nissan invests $1.4 bln to build two new EV models in Britain
▼ + stars: | 2023-11-24 | by ( Nick Carey | ) www.reuters.com time to read: +3 min

Nissan has made its electric Leaf model in Sunderland for years and will continue to do so, with batteries supplied by a small plant at the site. It announced a $1.4 billion investment in 2021 to build a second, 9 gigawatt-hour (GWh) battery plant in Sunderland with Chinese partner Envision AESC. Nissan did not comment on the value of any subsidies or guarantees being provided by Britain. [1/4]Britain's Prime Minister Rishi Sunak and Chancellor of the Exchequer Jeremy Hunt attach a Nissan badge to a car as they visit the car manufacturer, Nissan, in Sunderland, Britain, November 24, 2023. But Sunak, who became prime minister a year ago, is having some success turning that around.

Persons: Rishi, Sunak, Nissan's, Alan Johnson, Rishi Sunak, Jeremy Hunt, Chancellor, Makoto Uchida, Brexit, Nick Carey, Sarah Young, Paul Sandle, Sonali Paul, Mark Potter Organizations: Nissan, Investment Summit, Britain, BBC, Britain's, India's Tata Motors, Rover, Thomson Locations: Sunderland, England, Britain, Europe, EVs

☆ Nissan leads $2.5 billion investment to build two more EVs in UK
▼ + stars: | 2023-11-24 | by ( ) edition.cnn.com time to read: +3 min

London — Nissan will pump 1.12 billion pounds ($1.4 billion) into its British plant to build electric versions of two models, offering a boost to the country’s auto industry and a UK prime minister desperate to attract foreign investment. In 2021, the company announced a $1.4 billion investment to build a second, 9 gigawatt-hour (GWh) battery plant in Sunderland with Chinese partner Envision AESC. Its 2021 battery investment was a show of confidence when other foreign investors were avoiding the UK after Brexit led to years of uncertainty around the country’s trading relationships. The Nissan deal comes just months after India’s Tata Motors said it would invest £4 billion ($5 billion) in a UK electric vehicle battery plant to supply its Jaguar Land Rover factories. The automaker’s latest UK investment comes despite Sunak’s decision in September to delay by five years a ban on sales of new petrol cars.

Persons: Rishi, ” Sunak, ” Nissan’s, Alan Johnson, ”, Makoto Uchida, Brexit, Sunak, India’s Tata Organizations: London, Nissan, Investment, BBC, India’s, India’s Tata Motors, Rover, Industry, Tata Locations: Sunderland, England, Britain, Europe

☆ F1 on the right track in Vegas after parking lot past
▼ + stars: | 2023-11-14 | by ( Alan Baldwin | ) www.reuters.com time to read: +4 min

"The only problem last time was we couldn’t run on the Strip, which is what I wanted to do," he said. "I wanted to make sure when somebody turned their television on they knew they were in Vegas, not in the desert. But it never happened because the people in Vegas, all the hotels, couldn’t see that it was going to be any good for them. "F1 didn’t take to Vegas, it was mutual," recalled journalist Nigel Roebuck 30 years later in MotorSport magazine. "A night race down the Strip that’s going to be iconic ... that’s going to be on every piece of television imaginable."

Persons: Jose Carlos Pace, Bernie Ecclestone, Amanda Perobelli, Max Verstappen, Ecclestone, we’d, I’m, They’ve, Nigel Roebuck, Roebuck, Alan Jones, Maurice Hamilton, Greg Maffei, Alan Baldwin, Chris Reese Organizations: Prix, Jose Carlos Pace Circuit, Formula, One, Briton, Caesars Palace, Formula One, MotorSport, Netflix, Liberty Media, Thomson Locations: Sao Paulo, Brazil, Las Vegas, Vegas, United States, Miami, Americas, Austin, America, U.S, London

☆ Wall Street bonus season is on track to be stressful this year. Here's the breakdown by job and business line, according to compensation expert Alan Johnson.
▼ + stars: | 2023-11-14 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

"Your whole year boils down to a 15 to 30-minute conversation," explained compensation consultant Alan Johnson. And that will result in some difficult conversations when bonus numbers start getting passed out early next year, said Johnson. This year, Johnson's New York-based compensation consulting firm, Johnson Associates, expects bonuses to be largely down from last year. The only exceptions would be for equity underwriting, retail and commercial bankers at large institutions, and wealth management. Scroll down for more on Johnson Associates' 2023 bonus report, including its predictions for M&A advisory, underwriting, sales and trading, private equity, and commercial banking.

Persons: Banks, Alan Johnson, you've, Johnson, You've, Wall, Thomas DiNapoli, It's Organizations: Labor, Business, NY, Johnson's, Johnson Associates, JPMorgan, Bank of America Locations: Johnson's New York

☆ Wall Street bonuses expected to stay flat or decline -study
▼ + stars: | 2023-11-14 | by ( Tatiana Bautzer | Thomson Reuters | Tatiana Bautzer Is A U.S. Banking Correspondent At Reuters In New York. She Previously Covered Banks In Brazil | ) www.reuters.com time to read: +2 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. Commercial and retail bankers at regional banks will receive bonuses that are 10% to 20% lower than the previous year, the report showed. Retail or commercial bankers working in large institutions could see year-end bonuses stay flat or rise about 10%. Bonuses for debt underwriters are expected to stay flat or drop as much 10%, while payouts for equity trading could fall 5% to 10%. Finance professionals working in fixed income trading, hedge funds, private equity firms and asset managers can expect flat bonuses or small gains or losses, according to the estimates.

Persons: Carlo Allegri, ”, Alan Johnson, Tatiana Bautzer, Lananh Nguyen Organizations: New York Stock, REUTERS, Johnson Associates, Thomson Locations: Manhattan, New York City , New York, U.S, New York, Lincoln

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Nov 6 (Reuters) - Unilever (ULVR.L) top-10 investor Lindsell Train welcomed its recent management changes and said it had already discussed the consumer goods company's next steps with the incoming chairman. These moves demonstrated that Unilever thinks that a "fresh perspective on all aspects of the business is necessary", Nick Train, manager of the Finsbury Growth & Income Trust and co-founder of Lindsell Train, told Reuters. A bungled attempt to buy GSK's consumer healthcare business was followed by billionaire activist investor Nelson Peltz joining the board. "We maintain a productive open dialogue with the company and most recently met with the new (Unilever) chairman to hear his view on the most beneficial next steps," Train said. Matt Close, president of its ice cream business, will also leave after a more than three-decade career with Unilever.

Persons: Andrew Kelly, Nick Train, Hein Schumacher, Schumacher, Alan Jope, Nelson Peltz, Ian Meakins, Nils Anderson, Hanneke Faber, Priya Nair, Matt Close, Richa Naidu, Matt Scuffham, Alexander Smith Organizations: Unilever, REUTERS, Lindsell, Income Trust, Reuters, Thomson Locations: Manhattan , New York City, U.S, Finsbury

☆ Goldman Sachs is about to kick off a cascade of managing director promotions across Wall Street. Here's why the battle for power could be fiercer than ever.
▼ + stars: | 2023-11-01 | by ( Emmalyse Brownstein | Reed Alexander | ) www.businessinsider.com time to read: +9 min

There are plenty of terms to describe Wall Street power brokers — but none of them matters quite so much right now as the simple phrase "managing director." Wealth management, which has been an area for growth across Wall Street, may prove an exception. "Two years ago, everybody was in the war for talent," said Alan Johnson, a Wall Street compensation expert at Johnson & Associates. Getting a promotion to managing director is tremendously important for the people who are vying for the role. "Once you become an MD, you're going to be making a lot more money.

Persons: Goldman Sachs, Morgan Stanley, Banks, Alan Johnson, Wall, Jeanne Branthover, Johnson, Goldman, it's, Lloyd Blankfein, Justin Tuck, Branthover, might've, You'd, you'll Organizations: Wall, Citigroup, Jefferies, Bank of America, JPMorgan, Johnson & Associates, DHR International, NY Giants Locations: Wall

☆ The CEO of Unilever won't get a pay increase for 2 years after a backlash from shareholders
▼ + stars: | 2023-10-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Unilever CEO Hein Schumacher will have his pay frozen until 2026.will have his pay frozen until 2026. AdvertisementAdvertisementThe CEO of Unilever won't be able to get a pay rise until 2026 amid shareholder frustration, Bloomberg reported. The board's proposed pay package was rejected by shareholders at Unilever's annual general meeting in May, per Bloomberg. That's a nearly 20% increase on the fixed pay of the previous CEO, Alan Jope, from whom Schumacher took over in July. It means Schumacher won't be eligible for a pay increase in 2024 or 2025, and his fixed pay level will be reviewed by a compensation committee in 2026.

Persons: Hein Schumacher, Schumacher, —, That's, Alan Jope, Jope, Nelson Peltz, Terry Smith Organizations: Unilever, Service, Bloomberg, Reuters, Telegraph

☆ Unilever to freeze new CEO's fixed pay for two years
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

The company logo for Unilever is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 17, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Shareholders rejected resolution to adopt directors' pay in MayCEO's fixed pay level to be reviewed in 2026Oct 30 (Reuters) - Consumer goods company Unilever (ULVR.L) said on Monday its board had decided to freeze CEO Hein Schumacher's fixed pay for the next two years, after his initial pay package was rejected by shareholders in May. The pay deal for Unilever’s directors, including Schumacher, was rejected at its annual general meeting with a near 60% majority. Schumacher, who took up the role in July, will not be eligible for a fixed pay increase in 2024 and 2025. The compensation committee will review his fixed pay level in 2026.

Persons: Brendan McDermid, Hein Schumacher's, Schumacher, Nelson Peltz, Alan Jope’s, Anchal Rana, Devika Syamnath, Arun Koyyur Organizations: Unilever, New York Stock Exchange, REUTERS, Consumer, Thomson Locations: New York, U.S, Bengaluru

☆ Unilever is selling Dollar Shave Club, the quirky direct-to-consumer pioneer that never really fit in with the massive company
▼ + stars: | 2023-10-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Unilever is selling Dollar Shave Club seven years after paying $1 billion for the brand. Unilever struggled to grow Dollar Shave Club, sources previously told. "Dollar Shave Club did not deliver as expected, and the economics of the DTC model changed," then-CEO Jope said during an earnings call in 2022. "Dollar Shave Club will also serve as a platform for additional brands with a similar DNA." Do you have a story idea about Dollar Shave Club or Unilever to share?

Persons: —, Fabian Garcia, Michael Dubin, Mark Levine, Schick, Dubin, Graeme Pitkethly, You've, Alan Jope, hadn't, Jope, Michael Cohen Organizations: Unilever, Nexus Capital Management, NEW, Service, Care, Gillette, Schmidt's Naturals, Procter & Gamble, Club Locations: cologne

☆ Unilever's new CEO lays out plans to simplify business, shares fall
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +3 min

Klondike, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Oct 26 (Reuters) - Unilever's (ULVR.L) new chief executive Hein Schumacher on Thursday laid out long-awaited plans to simplify the business after admitting it had underperformed in recent years, but shares fell as some investors were unimpressed. Unilever reported a 5.2% rise in underlying sales, meeting analysts' average forecast, a company-provided consensus showed. Underlying price growth for the third quarter was 5.8% while underlying volumes were down 0.6%. The company also announced a senior executive shake-up, naming Fernando Fernandez, currently president of the beauty and wellbeing business, as its new chief financial officer.

Persons: Andrew Kelly, Hein Schumacher, Schumacher, Richard Saldanha, Alan Jope, Nelson Peltz, we've, Graeme Pitkethly, Fernando Fernandez, Richa Naidu, Mark Potter, Jason Neely Organizations: Unilever, REUTERS, Aviva, Thomson Locations: Manhattan , New York City, U.S, Europe

☆ New-look Unilever retains its old-style opacity
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

Unilever logo is displayed on Dove soap boxes in this illustration taken on January 17, 2022. Back in 2017 Unilever fought off a Kraft Heinz (KHC.O) takeover approach by pledging a 20% operating margin; now there just isn’t a target. But it leaves a question mark over Unilever’s long-term direction. And it might leave long-term critics like fund manager Terry Smith still griping about opacity. In January Smith complained that Unilever had revealed the price tag on only three of 27 acquisitions in its Beauty and Wellbeing division over eight years.

Persons: Dado Ruvic, Hein Schumacher’s, Kraft Heinz, Alan Jope, Terry Smith, Smith, Schumacher, George Hay, Peter Thal Larsen, Oliver Taslic Organizations: Unilever, REUTERS, Reuters, Kraft, X, Thomson

☆ Unilever is selling Dollar Shave Club after 7 long, awkward years of trying to make it work
▼ + stars: | 2023-10-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

☆ How to choose the right 5G infrastructure provider for your business
▼ + stars: | 2023-10-24 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +4 min

But finding the right infrastructure provider to support your organization can be tricky. But how can you separate the wheat from the chaff and pick the right infrastructure provider for you? "First and foremost, when selecting your 5G infrastructure provider, evaluate the longevity and reliability of their solutions," Vance Tran, a cofounder of the tech-advisory website Pointer Clicker, said. "For enterprise-centric private 5G deployments, it is essential to choose a provider that has considered the nuances of the enterprise world," Parm Sandhu, the vice president of enterprise 5G products and services at NTT Ltd, said. "That means the private 5G must be an extension of the existing LAN."

Persons: —, Fabio Giust, Giust, Vance Tran, Pointer Clicker, Parm Sandhu, Sandhu, downscaling, Alan Jones, you've Organizations: Service, 3GPP, NIST Secure Software, NIST, NTT Ltd Locations: Ireland

☆ Australian Shareholders' Association to vote against Qantas CEO's nomination as director
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Phil Noble///File Photo Acquire Licensing RightsOct 19 (Reuters) - The Australian Shareholders' Association will vote against the nomination of Qantas (QAN.AX) Chief Executive Officer Vanessa Hudson as a director in the company, it said on Thursday. Hudson, who used to be the chief financial officer at the national carrier, was appointed as its first-ever female CEO in May this year, taking over from Alan Joyce. read moreThe carrier is dealing with multiple legal and regulatory actions, which led to the resignation of Joyce and chairman Richard Goyder. The association intends to vote for the nomination of Doug Parker, the former CEO of American Airlines (AAL.O), as a director. Shares of the national carrier are down around 21% on a year-to-date basis.

Persons: Phil Noble, Vanessa Hudson, Hudson, Alan Joyce, Joyce, Richard Goyder, Doug Parker, Archishma Iyer, Mrigank Organizations: Qantas, Melbourne International Airport, REUTERS, Australian Shareholders, Association, American Airlines, Thomson Locations: Melbourne, Australia, Bengaluru

☆ Australia antitrust watchdog to oversee domestic air travel sector
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

A Qantas plane takes off from Kingsford Smith International Airport, following the coronavirus outbreak, in Sydney, Australia, March 18, 2020. REUTERS/Loren Elliott Acquire Licensing RightsCompanies Qantas Airways Ltd FollowSYDNEY, Oct 18 (Reuters) - Australia will ask its competition watchdog to monitor domestic passenger flights in a bid to boost competition in a sector dominated by national carrier Qantas, which is under scrutiny for alleged anti-competitive behaviour. The Australian Competition and Consumer Commission (ACCC) will monitor prices, costs and profits in the domestic air passenger sector, according to a joint statement from Treasurer Jim Chalmers and Transport Minister Catherine King on Wednesday. "A competitive airline industry helps to put downward pressure on prices and deliver more choice for Australians facing cost-of-living pressures," the statement said. "ACCC market scrutiny will help ensure airlines compete on their merits, bring to light any inappropriate market conduct should it occur, and provide continued transparency at a time when new and expanding airlines are still trying to establish themselves."

Persons: Loren Elliott, Jim Chalmers, Catherine King, Alan Joyce, Lewis Jackson, Muralikumar Organizations: Qantas, Kingsford Smith International, REUTERS, Rights Companies Qantas Airways Ltd, SYDNEY, Australian Competition, Consumer Commission, Transport, Qatar Airways, Thomson Locations: Sydney, Australia

☆ Qantas overhaul gets stuck on tarmac
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

Qantas Airways QF100 flight, which marks the airline's 100th birthday, departs from Sydney Airport to fly over Sydney Harbour in Australia, November 16, 2020. Gregg Porteous/Destination NSW/Handout via REUTERS Acquire Licensing RightsMELBOURNE, Oct 11 (Reuters Breakingviews) - Qantas Airways (QAN.AX) customers are already used to interminable waits due to postponed or cancelled flights and lost luggage. Now the $5.4 billion airline has shunted its much-needed governance overhaul into an unnecessary holding pattern. On Wednesday Qantas said Richard Goyder is stepping down after five years as chair along with two other directors who have been on the board for a decade. And Goyder intends to remain in the cockpit until just before the company’s annual meeting in over a year’s time.

Persons: Gregg Porteous, –, Richard Goyder, Alan Joyce, Jaqueline Hey, Maxine Brenner, Goyder, Antony Currie, Una Galani, Thomas Shum Organizations: Qantas Airways QF100, Sydney Airport, Sydney Harbour, Handout, REUTERS Acquire, Rights, Reuters, Qantas Airways, Wednesday Qantas, Qantas, X, Alstom, Thomson Locations: Australia, Brussels

☆ Qantas Chairman Richard Goyder to exit late next year
▼ + stars: | 2023-10-10 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

Qantas aircraft are seen on the tarmac at Melbourne International Airport in Melbourne, Australia, November 6, 2018. REUTERS/Phil Noble///File Photo Acquire Licensing RightsSummaryCompanies Goyder to retire in late 2024 prior to AGMQantas' recovery after pandemic has not been easy - GoyderOct 11 (Reuters) - The chairman of Australia's Qantas Airways (QAN.AX), Richard Goyder, will leave the flag carrier in late 2024, the company said, as the embattled airline looks to rebuild its tarnished reputation. Goyder had indicated support from the company's biggest shareholders in his appearance in front of the committee. "As a board, we acknowledge the significant reputational and customer service issues facing the group and recognise that accountability is required to restore trust," Goyder said. Qantas said it has initiated the process to pick a new chairman.

Persons: Phil Noble, Richard Goyder, Goyder, Alan Joyce, Josh Gilbert, Josh, Rishav Chatterjee, Maju Samuel Organizations: Qantas, Melbourne International Airport, REUTERS, Qantas Airways, company's, High, Australia, eToro AUS, Thomson Locations: Melbourne, Australia, Bengaluru

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