Damian Griffiths has finalised the sale of his Doughnut Time empire to the company’s former CEO and managing director Dan Strachotta. The deal saves the enormously popular Brisbane-based doughnut brand from extinction, but also sees the closure of almost half of its remaining stores, with many staff losing their jobs. In Sydney, just one store…
BHP’s Brazilian assets frozen A Brazilian judge has frozen the Brazilian assets of BHP Billiton and Vale SA after finding that their joint venture Samarco would not be able to pay for the damage caused by the mudslide disaster last month. Last Friday the judge ruled that the mining giants could be held responsible for…
Annual General Meetings could fall victim to digital disruption The Australian Institute of Company Directors says the concept of an annual general meeting is dysfunctional and unnecessary in the modern world. A survey of 5,000 company directors found that a third believe that the idea of an annual general meeting is outdated and needs to…
Productivity Commission expected to call for penalty rates overhaul The commission was expected to make the call in their final report on workplace relations that was due on Monday. The final report from the commission is expected to recommend changes to Sunday penalty rates to bring some industries in line with time-and-a-half paid on Saturdays,…
BHP share price hits 10 year low The BHP share price has continued to drop after recently hitting lows not seen since the Global Financial Crisis. Shares reached GFC level in September this year, there was a brief recovery in early October but the price has continued to slide since then. BHP Billiton is currently…
Babford Pty Ltd, which traded as JT Press, was placed into liquidation by SV Partners following a creditors meeting on 26 August. A sale of the assets to a company called Green Grass Forever is currently being finalised, with JT Press still operating under a purchaser license issued by SV Partners. The trading name JT…