This is a service specifically targeted at the needs of busy non-executive directors. We aim to give you a “heads up” on the things that matter for NEDs in the week ahead - all in two minutes or less.
In this Edition, we consider the 2020-2021 Federal budget, the Takeovers Panel’s reasons for its Alto Metals Limited decision, the Treasury’s consultation on insolvency reforms and the new alternative JobKeeper test.
YOUR KEY BOARDROOM BRIEF
2020 - 2021 Federal budget. media release website
Takeovers Panel releases reasons for Alto Metals decision. Alto Metals Limited Habrok reasons for decision
Treasury consults on insolvency reforms to support small businesses. exposure draft legislation explanatory material consultation page
Alternative JobKeeper tests registered. Coronavirus Economic Response Package (Payments and Benefits) Alternative Decline in Turnover Test Amendment Rules 2020
ON THE HORIZON
President Trump. As previously observed, equity markets have responded positively to President Trump’s COVID-19 recovery - and the past week has been no different, with the S&P/ASX 200 Index experiencing its best week since April. However, the recent push (and likely the push in weeks to come) is becoming less about President Trump’s recovery from COVID-19 and more about the fast-approaching US election and its broader impacts for the US and global economies. While many speculate about the long-term impacts on the equity markets as a result of the US election outcome, we can expect to see some volatility in the short term as the countdown to the election continues. Betting markets have recently swung strongly towards a Biden Presidency come November.
Diggers & Dealers. This week marks the return of the delayed Diggers & Dealers conference in Kalgoorlie, likely to be one of the largest mining conventions in the world for the foreseeable future. The gold M&A thematic is likely to dominate proceedings on the back of the announced A$16bn merger between Northern Star and Saracen, with speculation likely to turn to consolidation opportunities at the small to mid-cap end of the market.