Good morning, The nation’s two largest retailers have pushed back against official probes, with Wesfarmers chairman Michael Chaney complaining that “profit seems to be a dirty word” while Woolworths denounced escalating regulation. Meanwhile, billionaire Gina Rinehart’s Hancock Prospecting has defied the trend of falling profits across the corporate sector, posting a bumper $5.57bn bottom line result on the same day it struck a $1.13bn deal to buy gas assets from rival Mineral Resources. And coal baron Chris Wallin has banked $400m in dividends and revealed he shifted investment away from Queensland because of the former Labor government’s “disdain for mining”. |