LA Private

August 25, 2023

Wesfarmers announces increased dividend despite second half earnings slowdown

Shareholders in Wesfarmers (ASX:WES), the conglomerate that owns Bunnings, Kmart/Target, Officeworks, and a range of industrial enterprises, are set to receive a higher dividend for the fiscal year ending in June, even in the face of a second-half earnings deceleration. The net profit after tax for the 2022-23 period amounted to $2.47 billion, up from

Wesfarmers announces increased dividend despite second half earnings slowdown Read More »

Better: The quick mortgage company’s catastrophic debut and what went wrong

In a dramatic turn of events, Better, a swift mortgage company based in the US, experienced a devastating debut as its shares plummeted by over 93% on Thursday. Reuters approached the unfolding catastrophe with caution in its headline: “Mortgage lender Better’s shares in grim Nasdaq debut.” In retrospect, it seems that Better was a disaster

Better: The quick mortgage company’s catastrophic debut and what went wrong Read More »

ASIC initiates legal action against IAG and subsidiaries

Australia’s corporate regulator, ASIC, has commenced legal proceedings against insurer IAG (ASX:IAG) and its two subsidiaries, accusing them of misleading customers regarding loyalty discounts offered for specific categories of home insurance. The case has far-reaching implications, potentially encompassing more than one million home insurance policies across various states from January 2017 to as recently as

ASIC initiates legal action against IAG and subsidiaries Read More »

Pilbara Minerals reports robust financial year amidst global lithium price slump

Pilbara Minerals (ASX:PLS), despite navigating a challenging global lithium price downturn primarily driven by China’s market dynamics, has officially confirmed a highly profitable year in 2022-23. The company anticipates facing a more measured fiscal year ahead with increased calls on its cash reserves due to heightened investments, while also confronting its inaugural significant tax payment

Pilbara Minerals reports robust financial year amidst global lithium price slump Read More »