Shares advance 1 per cent near noon; Qantas shareholders press chairman about Joyce sell-down; Macquarie profits slide; Block jumps on guidance upgrade; oil rises Follow here for more.
Outgoing Qantas chairman Richard Goyder has shut down questions about his ethics after a shareholder suggested that Alan Joyce pumped up the share price at an investor day two days before selling his shares.
The shareholder wanted to know what Qantas knew about the ACCC’s investigation, but Goyder told the event to shut down his microphone. The Australian Financial Review revealed that Qantas had received two information notices at the time Goyder approved Joyce selling $17 million worth of shares. But the chairman refused to discuss the ethical implications, reacting angrily to suggestions the decision to allow the sale was unethical.
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