FEAR & GREED | Business News WiseTech in crisis; Coalition ahead in polls; petrol, diesel sales hit record
Feb 24, 2025
WiseTech Global faces a governance crisis as four independent directors resign over disputes, raising questions about its future. Meanwhile, political polls suggest a potential shift in power as opposition leader Peter Dutton gains traction. In an unexpected turn, petrol and diesel sales in Australia hit record levels. Additionally, Perpetual bids farewell to a $2.2 billion proposal from KKR, highlighting the ever-evolving landscape of corporate finance. The podcast also touches on market fluctuations and earnings reports revealing growth in utilities and banking.
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WiseTech Global Crisis
- WiseTech Global's share price plummeted 20% after four independent directors resigned.
- This followed unresolved board disagreements concerning founder Richard White's role.
Coalition's Lead in Polls
- The Coalition leads Labor 52% to 48% in post-interest rate polls.
- This suggests Peter Dutton has a chance of forming a government, despite Albanese's improved approval rating.
Record Fuel Demand
- Australian petrol and diesel demand hit a record high, despite the rise of EVs.
- Ampol CEO Matt Halliday noted challenges in EV charging station rollout and flat EV adoption.