High-interest rates, rising mortgage costs, and inflation have combined to take a significant toll on the gaming market, foreshadowing weak racing seasons in Sydney and Melbourne over the next month. This comes after Tabcorp (ASX:TAH) surprised investors with a rare trading update that revealed a decline in revenues across its divisions during the first three […]
Tabcorp’s revenue woes predict weak racing seasons Read More »
In the year leading up to June, Qantas (ASX:QAN), Virgin, and Air New Zealand (ASX:AIZ) all enjoyed a boom, with soaring business, revenues, and earnings as international and domestic travel rebounded. However, the surge in oil and fuel prices has since dimmed their 2022-23 performance. Qantas, in its first-quarter update, issued a cautionary note about
Airlines’ boom turns to bust as fuel prices soar Read More »
Exxon Mobil’s monumental $US59.5 billion ($93 billion) acquisition of Pioneer Natural Resources, marking the largest energy deal in the United States in decades, is poised to herald a new era of transformative takeovers within the industry. The shale sector is currently abuzz with consolidation discussions, as well-heeled oil companies vie for prime drilling portfolios in
Fortescue Metals Group (ASX:FMG) is sticking to its sales guidance for the year ending next June, even though it witnessed a 3% decline in shipments during the three months leading up to September. Additionally, the company anticipates a reduced contribution from its troubled Iron Bridge magnetite mine in the upcoming year. The company disclosed this
Fortescue’s sales guidance holds despite 3% shipment drop Read More »
Sky Television, a New Zealand pay TV group, has announced that it recently received a takeover offer; however, the company did not disclose the bidder’s identity or the offer’s price. The pay-TV firm has suspended its share buy-back program in response to the offer, indicating that discussions with the potential buyer are still in the
Sky Television receives takeover offer, keeping details confidential Read More »
Australia’s major banks have successfully navigated the latest stress test conducted by the Australian Prudential Regulatory Authority (APRA). Based on the parameters set by APRA, this test was exceptionally stringent, bordering on the unbelievable. Nevertheless, APRA has confirmed that all tested banks have emerged unscathed from the hypothetical economic and financial downturn. APRA’s stress test
Australian banks pass rigorous stress test by APRA Read More »
13 Oct 2023 – Stocks fell Thursday, pressured by rising Treasury yields, as traders fretted over new data showing persistent US inflation.
US stocks fall following new CPI data Read More »
Stocks fell Thursday, pressured by rising Treasury yields, as traders fretted over new data showing persistent US inflation. The consumer price index released Thursday increased 0.4 per cent on the month and 3.7 per cent from a year ago, according to a Labor Department report. Dow Jones estimates were 0.3 per cent and 3.6 per
US stocks fall following new CPI data Read More »
The Australian Competition and Consumer Commission plans to reject authorisation for electricity industry participants to coordinate repair, maintenance, and upgrades due to concerns that it wouldn’t substantially enhance the Australian Energy Market Operator’s outage management capabilities and might harm competition. Instead, the ACCC believes that upcoming reforms by the Australian Energy Market Commission will better
ASX closes 0.21% higher: ACCC denies electricity industry coordination Read More »
The S&P/ASX 200 is trading 0.13 per cent higher at 7,097.60. Futures The SPI futures are up 8 points. Best and worst performers The best-performing sector is Financials, up 1.12 per cent. The worst-performing sector is Health Care, down 4.34 per cent. The best-performing large cap is SEEK (ASX:SEK), trading 2.86 per cent higher at
Afternoon update: ASX currently up 0.13%, Financials lead, Health Care lags Read More »
