Greentree misses CSD job
Prominent graingrower and northern Queensland cotton venturer Ron Greentree has missed out on a seat at the Cotton Seed Distributors board table, with shareholders instead re-electing farmers Tony Quigley and Juanita Hamparsum at this month's annual general meeting.
Mr Quigley, from Narromine, is CSD vice chairman and has been a director since 2017, while Mrs Hamparsum, a cotton grower on the Breeza Plain in northern NSW and chartered accountant was first appointed in 2012.
She is also a director on Namoi Cotton's board.
Chairman James Kahl congratulated the re-elected board members and thanked Mr Greentree for declaring an interest and nominating to serve.
Mr Greentree, one of Australia's biggest grain croppers, has been pioneering cotton trials and commercial production in the Queensland Gulf of Carpentaria region since 2016, leasing Strathmore Station near Georgetown with North Queensland cattleman Scott Harris.
The wider Harris family has had a close graingrowing connection with Mr Greentree since he first started as a sharefarmer.
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A2 Milk now ASX cream
The rising share market fortunes of dual listed specialist dairy products brand A2 Milk have pushed the stock onto the "top 50" board on the Australian Securities Exchange.
Since 2017 A2's market capitalisation has grown from about $2.5 billion to more than $13b, fuelled largely by its success in the Chinese infant formula market.
The brand's fresh milk, which was first promoted in New Zealand with mixed success before launching in Australia a decade ago, has also established itself as a global name.
The A2 Milk Company, introduced to Australia by Freedom Foods management and shareholders, is now based here, but also listed on the NZ Exchange.
Its rise and rise on the ASX is particularly notable for knocking long-time insurance kingpin AMP off the 50 biggest companies list.
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Heritage Bank gets Forbes tick
Toowoomba-based Heritage Bank has been named one of the world's best banks and ranked number one in Australia by international media brand Forbes.
Forbes magazine's annual list of the World's Best Banks has put the customer-owned Heritage Bank at the top of its rankings in Australia for the second year running.
Earlier this year Heritage was also named Australia's Most Authentic Bank by international analysts JD Power.
Forbes partnered with market research firm Statista to measure the best banks in 23 countries, surveying more than 40,000 customers for their opinions.
The banks were rated on overall recommendation and satisfaction, and the sub-dimensions of trust, terms and conditions, customer services, digital services and financial advice.
In Australia, four of the top five were customer-owned, including Bank Australia and Newcastle Permanent, with the Dutch-owned financial giant ING Group placing fifth.
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New Incitec Pivot shares
Incitec Pivot has completed a $57.5 million share purchase plan offer to shareholders following a $600m institutional share placement in mid-May.
About 28.7m new purchase plan shares worth $2 each commenced trading on June 17.
"We are pleased with the strong support received from retail and institutional shareholders, indicating their confidence in IPL's business and its long-term strategy," said managing director Jeanne Johns.
The capital raising would strengthen the fertiliser and explosive company's balance sheet and help maintain its strong investment grade credit rating.
Taxpayers flushed with anger
Australian Taxpayers Aliance policy director Emilie Dye has come out swinging against Balranald Shire Council in south western NSW, saying its toilet tax is "a pile of shite".
The council has imposed a pedestal tax requiring businesses to pay $100 for every toilet in excess of two.
"As a result the council has effectively taken a dump on the tourism industry," she said.
"Travel restrictions have hit the tourism industry hard during the COVID-19 pandemic. Hotels should not be forced to flush away thousands of dollars on a toilet tax."
The ATA argued rather than forcing local government to invent new and creative local taxes, councils should be allowed to keep more of the traditional tax revenue collected in their community.
Local government collected a mere 3.4 per cent of tax revenue, while the federal government "greedily laps up 81.4pc".
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Gas export competition grows
An International Energy Agency report shows global demand for natural gas continuing to rise, but highlights Australia facing increasing competition from other producers to meet that demand.
The IEA's Gas 2020 expects global gas increasing at almost four per cent annually to 2025 after this year.
Australian Petroleum and Production Exploration Association chief executive Andrew McConville said the report highlighted the growing natural gas industry was essential for a cleaner energy future and gas would be a key part of the energy mix for decades.
But the IEA highlighted an emerging challenge for Australia with the US set to be the world's leading liquid natural gas exporter by 2023, and likely increases in supply from Qatar and other countries.
"There is a great opportunity for Australia but in a competitive global market, we cannot become complacent," Mr McConville said.
The Asia-Pacific region would account for more than half of incremental consumption from 2022, led by China and India - with China becoming the largest LNG importer.
"Australia's geographical proximity to Asia is a distinct advantage for the Australian oil and gas industry."
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