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.
The Conservative Party in Wales said it would ax a levy on property transactions of less than 250,000 pounds ($408,000) to encourage home ownership once greater taxation powers are granted to the Welsh Assembly.
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.
The Reject Shop Ltd. fell the most on record in Sydney trading, leading declines among retailers, after Australia’s largest listed discount chain forecast a decline in profit for the first fiscal half.
Havas SA, the French advertising agency partly-owned by billionaire Vincent Bollore, said David Jones is standing down as chief executive to start his own company. Chairman Yannick Bollore will take over the top job.
Allianz Capital Partners, the alternative asset unit of Europe’s largest insurer, will seek further renewable-energy deals after investing more than 400 million euros ($541 million) in the industry last year.