David Jones Ltd. Chief Executive Officer Paul Zahra should reverse his decision to resign in the light of this week’s boardroom turmoil, according to the department store’s third-largest shareholder Ausbil Dexia Ltd.
David Jones Ltd., Australia’s second-largest listed department store company, rose the most in two months after it said it received a merger proposal in October from larger rival Myer Holdings Ltd. that it rejected.
Murray Goulburn Cooperative Co., the underbidder in a two-way tussle for Warrnambool Cheese & Butter Factory Co., plans to withdraw its offer for the Australian dairy producer and sell its holding to Saputo Inc.
James Hardie Industries SE, a seller of building products, misled investors about funding asbestos- related claims and seven directors breached their duties by approving the statements, Australia’s top court ruled.
As UBS AG board members gathered in Sydney last year to consider the bank’s fate, they joined 200 clients to drink champagne, eat canapes and mingle among beds of anthurium with purple spadixes jutting into the air.
The four largest U.S. railroad companies won their bid to reverse a ruling that turned a price- fixing lawsuit against them by shippers into a group lawsuit with potential damages of at least $10 billion.