FEAR & GREED | Business News DroneShield, MinRes governance pressure; ASX surges on Nvidia; IMF warning to Canberra
Nov 20, 2025
Corporate governance takes the spotlight as DroneShield faces backlash from director share sales linked to a misleading contract claim. Meanwhile, the ASX thrives thanks to Nvidia's impressive performance, boosting local markets. The IMF calls for urgent tax reforms to elevate Australia’s living standards. In a diplomatic twist, Australia withdraws its bid to host COP31 but gains a joint presidency with Turkey instead. On a lighter note, Henschke winery makes it to the world’s top 50 vineyards, highlighting Australia's evolving wine tourism.
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Board Share Sales After Faulty Contract Claim
- DroneShield's CEO, chair and a director sold $70 million of shares after an incorrect US contract announcement was later withdrawn.
- The company blamed its US team and the US head resigned immediately after the error was discovered.
Founder Stays After Governance Scandal
- Mineral Resources dropped the deadline for founder Chris Ellison to step down despite prior scandals and shareholder pressure.
- The board said Ellison will retire in a considered, methodical way and he's still running the company.
Nvidia Rally Masks Customer Concentration
- Nvidia's strong result drove a 1.2% jump in the S&P ASX 200 and lifted local tech and large caps.
- The company reported US$57bn revenue but four unnamed customers likely accounted for 61% of that sum, highlighting concentration risk.