Hello, it’s Harry right here in Sydney. Markets are quiet because of a financial institution vacation within the US in a single day and lots of hope our Reserve Bank likewise plans to take it simple right now. But first….
Today’s must-reads:
• Qantas CEO Alan Joyce to retire early after horror weeks
• The ASX is going through its worst yr but for brand spanking new listings
• RBA prone to pause right now
Alan Joyce is stepping down early as head of Qantas, an ignominious exit for one in every of aviation’s highest-profile leaders after claims the airline offered tickets for hundreds of flights it had already canceled. Joyce, who was on account of hand over to Chief Financial Officer Vanessa Hudson in November, will depart Sept. 6, Qantas mentioned in a press release Tuesday.
Australia is counting on two billion-dollar listings to put it aside from the worst yr on report for preliminary public choices. Companies have solely raised about A$885 million by means of first-time share gross sales thus far in 2023, at the same time as Virgin Airlines hopes to re-float. This comes after 2022, which was itself the slowest yr for IPOs in Australia since 2012, with simply A$1.1 billion raised.