Business

News on companies, industries, and corporate developments.

Business
Kraft Heinz spills the beans on unsuccessful merger
Kraft Heinz Company will split into two independent, publicly-traded companies, unwinding a merger 10 years ago that failed to live up to expectations. The food and beverage giant said one company would focus on groceries and the other on sauces and spreads, with the names to be determined ahead of the completion of the transaction in the second half of 2026. Executive Chair Miguel Patricio said Kraft Heinz’s brands were iconic and beloved, but the complexity of its structure made it challenging to allocate capital effectively, prioritise initiatives and drive scale in the most promising areas. “By separating into two companies, we can allocate the right level of attention and resources to unlock the potential of each brand to drive better performance and the creation of long-term shareholder value,” Patricio said in a press release. The separation is intended to be tax-free for Kraft Heinz and its shareholders with clear near-term opportunities to mitigate a substantial portion of the dis-synergies, which it estimated at up to US$300 million. The company said the current dividend level was expected to be maintained and management was targeting capital structures to maintain investment-grade ratings. It described
Business
Trading floor: Collins Foods, IperionX, Metallium report
Azzet reports on three stocks trading higher after updates today. Collins Foods rallies on FY26 trading update Shares in Collins Foods (ASX: CKF) were trading 8% higher by 1:45 pm AEST (3:45 am GMT) after the KFC and Taco Bell operator’s sneak peek into early FY26 trading gave the market a lot to smile about. On the back of same-store KFC sales growth in all markets, the food operator told the market that during the first 18 weeks of FY26 it reported a 6.7% lift in total sales. Management also reaffirmed FY26 guidance, targeting underlying net profit after tax growth in the low-to-mid teens on a percentage basis. Management was also quick to remind the market today that improved restaurant execution, cost discipline, product innovation and easing input costs were contributing to margin expansion. However, the market clearly didn’t read too much into a reminder by CEO Xavier Simonet that while sales momentum that began in the second half of FY25 still remains evident in the new year, comparatives would become more challenging. “… our stronger performance reflects our enhanced focus on the customer experience, and on operating disciplines, supported by successful new product innovation,” said Simonet. “Improved s
Business
Collins Foods confirms forecast as KFC sales grow
Collins Foods shares jumped 6.6% by 12:15 pm AEST (2:15 am GMT) on Tuesday as the company reaffirmed its profit guidance for the 2026 financial year (FY26) after providing a trading update for the first 18 weeks of the new year. The quick service restaurant operator said sales rose 6.7% between 28 April and 31 August 2025 compared with the prior corresponding period, driven by same store sales growth (SSSG) in all markets for its KFC fried chicken stores. KFC sales grew 5.1% in Australia, 4.8% in the Netherlands and 8.4% in Germany with SSSG of 2.3%, 1.2% and 5.8% in each of these markets, respectively. The company reaffirmed FY26 guidance, which was for year-on-year underlying net profit after tax percentage growth in the low to mid-teens. “Collins Foods’ positive same-store sales momentum, which began in the second half of FY25, has continued into the early periods of FY26, with sales growth accelerating in all markets,” Managing Director and CEO Xavier Simonet said in an ASX announcement. He said that although same-store sales comparatives would become more challenging as the year progressed, the stronger performance reflected an enhanced focus on the customer experience and operating disciplines, supported by su
Business
KitKat maker fires boss as chit chat reveals affair
Nestlé has dismissed Chief Executive Officer (CEO) Laurent Freixe after an investigation into an undisclosed romantic relationship with a direct subordinate which breached the company’s code of conduct. The multinational food giant said Philipp Navratil had been appointed as CEO with immediate effect. "This was a necessary decision. Nestlé's values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé," Chairman Paul Bulcke said in a press release. Concerns about a possible relationship between Freixe and a direct report emerged through an internal company hotline, but as an initial probe was inconclusive, a second investigation was launched, Reuters reported a company spokesman as saying. The Board ordered the investigation overseen by Bulcke and Lead Independent Director Pablo Isla, with the support of independent outside counsel. Freixe, who denied the relationship, will not receive an exit package after his dismissal, according to the Reuters story. Bulcke said Navratil had an impressive track record of results in challenging environments, and the Board was confident he would drive Nestlé’s growth plans and accelerate efficiency efforts. “We are not changi
Business
Trading floor: RPMGlobal, Activeport, 4D Medical rocket
Azzet reports on three stocks trading higher after reporting updates today. RPMGlobal flies after revealing its play for takeover Shares in Brisbane-based RPMGlobal (ASX: RUL) were trading 23.2% higher by 1:45 pm AEST (3:45 am GMT) after the mining software solutions mid-cap signalled to the market that it looks destined to delist following revelations it's in play with Caterpillar Inc (NYSE: CAT) for a potential takeover. Following the receipt of a non-binding proposal to acquire all shares and options for $5 per share, RPM Global, which entered a trading halt on Friday, told the market this morning it has granted Caterpillar a six-week period of exclusivity to complete confirmatory due diligence and negotiate a binding scheme implementation. The offer values RPM Global – which last Thursday had a market cap of $832 million - at around $1.1 billion in equity and $1.1 billion in enterprise value. Given that this represents a 32.6% premium to the last closing price and a 44.2% premium to the one-month VWAP, the board will – assuming there are no superior proposals – recommend the transaction to shareholders. The price also equates to 14.6 times RPM Global’s software annual recurring revenue of $71.8 million for the

Business
Rosneft blames OPEC+ for first half net income plunge
Dragged down by production hikes by Saudi Arabia and other OPEC+ states that led to weaker oil prices, Russia's largest oil producer, Rosneft, saw its first half net income tumble more than 68% to 245 billion roubles (US$3 billion). Head of Rosneft, Igor Sechin, pointed the finger squarely at production cuts by OPEC+ that spurred an output rise by the United States, which over the past years has become the world's leading oil producer. “The first half of the year was characterised by a decline in oil prices, primarily due to overproduction of oil. The main reason is the active increase in production by OPEC countries, including Saudi Arabia, the UAE, Iraq, Kuwait,” said Sechin a long-standing ally of President Vladimir Putin. The Organisation of the Petroleum Exporting Countries and its allies, led by Russia, a group known as OPEC+ - which pumps about half of the world's oil - had been curtailing production for several years to support oil prices – something Russia had reluctantly agreed to. However, earlier this year, the cartel ramped up production, partly to regain some of the previously held market share and partly at the request of U.S. President Donald Trump. It’s understood that Ukraine’s decision to strike a
Business
The Founders: Melanie Vairawanathan's unique take on law
As a mother and first-generation immigrant, Melanie Vairawanathan has a unique view on how to combine life and work. Vairawanathan completed her secondary education in London before moving to Melbourne to complete her Bachelor of Laws at Monash University, before becoming a lawyer in 2013 and climbing the ladder. She then started her own firm, Melmark Law, with a passion for providing support for victims of family violence, where she recently won Gold in the Legal Services category at the 2025 AusMumpreneur Awards.Starting her own businessVairawanathan’s first reason for entering the A$33.6 billion Australian market was to create more work-life balance when starting her family. “I've got a really good support system,” she says. “Thing is, you need a village and I’ve got a very supportive partner, and my mum was with me for the first nine months after the baby was born. “I've got very like-minded, amazing ladies who are there to back me through everything.”Credit: UNTMDWith her experience of living through an abusive relationship and being a first-generation immigrant from a vibrant Sri Lankan household, Vairawanathan decided to focus on family law, where she felt she could add a personal touch. “I've got a bit of
Business
Azzet Unpacked: Trade wars rule the week in business
The financial news landscape has become a maze of contradictions this week, where central bankers hint at relief whilst presidents threaten retaliation, where peace talks emerge from war zones whilst trade wars intensify closer to home. It's a reminder that in our interconnected world, a furniture tariff announced on a Sunday can ripple through global supply chains by Monday morning, just as a Fed governor's dismissal can shake bond markets from New York to Sydney. This complexity demands clarity, not commentary. Azzet cuts through the noise to deliver the facts that matter, letting you - the reader - form your own conclusions about what it all means.Banking merry-go-roundMonday brought what markets had been clamouring for: Federal Reserve Chair Jerome Powell hints at interest rate cuts, suggesting the central bank may ease policy as early as September. Speaking at the Fed's annual Jackson Hole symposium, Powell noted that "the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," sending US stocks surging with the Dow adding more than 600 points. But if Powell thought he'd find respite from presidential pressure, Tuesday proved him wrong. Donald Trump announced via Truth So
Business
Trading floor: Bubs Aust, Cettire, Austal move higher
Azzet reports on three stocks trading higher after reporting updates today. Bubs Australia rallies after posting maiden profit Shares in Bubs Australia (ASX: BUB) were up around 6.1% by 1:30 pm AEST (3:30 am GMT) after the infant formula company posted its first statutory profit after tax of $5.5 million for FY25, which marks a major recovery from its $21 million loss last year. Underpinning the company’s turnaround – with underlying earnings at $600,000 following the previous $20.3 million loss – were the company’s international markets, while domestic sales were a notable outlier, having significantly underperformed. The United States, the company’s star-performing market, now accounting for over half of total sales, saw revenue jump 52% to $53.1 million due to the growing premium and goat IMF segments. Meantime, due to online-to-offline expansion into 1,315 stores plus strong cross-border e-commerce sales, China sales were up 22% to $21.1 million. Growth in China was driven by strong CBEC sales of Goat IMF and Supreme IMF and Bubs’ successful expansion into the O2O channel, where Bubs is now stocked in 1276 stores. Revenue for adult goat dairy products, which is predominantly sold in China, was $12.4 million f