Imploding Star Entertainment, Woodside’s energy battle & inflation runs hot, again
Apr 26, 2024
auto_awesome
Exploring the near-disaster at Star Entertainment, the battle over Woodside's climate plan, and the implications of high inflation numbers. Also, discussing BHP's bid for Anglo-American, challenges in transitioning to green energy, and ethical implications of Macquarie Bank's investments in Thames Water.
Transition towards copper assets for electrification of global infrastructure
Demand for clearer and faster path towards sustainable practices in energy transition
Deep dives
BHP's $60 Billion Bid for Anglo-American
BHP's recent $60 billion bid for Anglo-American, a British listed company with diverse assets including Met coal in Australia, copper in South America, iron ore, platinum, and more, demonstrates a major shift towards copper assets for the electrification of global infrastructure. While BHP aims to acquire key copper and coal assets, the complexity of the deal raises concerns around potential risks tied to managing differing business segments.
Star Entertainment's Continuing Troubles
Star Entertainment is facing a second inquiry in New South Wales due to unresolved issues despite attempting to clean up its operations. Internal conflicts between leadership and regulatory bodies have escalated, leading to a souring relationship and potential license risks. Shareholders, including major super funds, are pushing for significant changes within the company to address governance and ethical concerns.
Woodside Energy's Climate Transition Plan Rejection
Woodside Energy faced shareholder rejection of its climate transition plan with 58% voting against it. The challenge revolves around speeding up the transition away from fossil fuels at a time when new energy projects generate less profit than traditional oil and gas operations. Super funds and investors demand a clearer and faster path towards sustainable practices amidst increasing climate focus and scrutiny.
Macquarie Bank's Infrastructure Model and Ethics
Questions arise over Macquarie Bank's infrastructure investments, notably its previous ownership of Thames Water in the UK, which faced financial and social turmoil post-acquisition. The ethical implications of leveraging debt and neglecting reinvestment in critical utilities highlight concerns over balancing profit motives with responsible management of essential services. The broader debate surrounding infrastructure management and social impact demands a strategic reassessment of investing practices.
This week on the Chanticleer podcast, James & Anthony look at casino operator Star Entertainment’s second brush with disaster, go inside the battle over energy giant Woodside's climate plan, and ask where rates go next after hot inflation numbers.