October 31, 2023

A week ago, Standard Chartered Bank revealed a slide in quarterly earnings due to write-downs in the value of its Chinese property and banking investments, amounting to nearly $1 billion. Yesterday, its UK-based rival, HSBC, reported a massive 235% surge in earnings for the September quarter, despite a half-billion-dollar write-down on its Chinese property dealings. […]

Australians appear to have rekindled their taste for chicken, possibly due to the prolonged high prices of red meat, as consumers face mounting living expenses. As people increasingly opt for home-cooked meals and cost-cutting measures, they turn to more affordable protein sources and fresh produce. This shift in consumer behavior bodes well for the country’s

The pace of activity across China’s vast economy unexpectedly slowed last month. Manufacturing slid into contraction, services produced an unexpectedly low result, and the overall measure showed the lowest rate of expansion in 11 months. The official survey covers large companies. Later today, the unofficial Caixin survey, which covers small and medium businesses, will be

The $18.7 billion Canadian-US bid for Origin Energy (ASX:ORG) appears to be in jeopardy and may require a higher offer price, as Origin’s largest shareholder, AustralianSuper, has rejected the current deal. AustralianSuper, which owns 13.7% of Origin, has indicated its intention to decline the offer from the Canadian infrastructure giant Brookfield and US energy investor

With the resolution of Chinese wine tariffs on the horizon in the coming weeks, Treasury Wine Estates is making a significant move in the US alcohol sector. The company has a history of major deals in the US, notably the acquisition of Beringer Estates when it was under Foster’s control. On Tuesday, the company unveiled

The S&P/ASX 200 is trading 0.18 per cent higher at 6,785.30. Futures The SPI futures are up 12 points. Best and worst performers The best-performing sector is REITs, up 1.56 per cent. The worst-performing sector is Materials, down 1.09 per cent. The best-performing large cap is Qantas Airways (ASX:QAN), trading 3.13 per cent higher at

Chimeric Therapeutics (ASX:CHM), announced that the FDA has cleared the Investigational New Drug application of CHM 2101, Chimeric’s first in class CDH17 CAR T cell therapy for gastrointestinal cancers.  Michael R. Bishop, Professor of Medicine and Director at the University of Chicago commented “I am really excited about the planned Phase 1 clinical trial of

At noon, the S&P/ASX 200 is 0.37 per cent higher at 6,798. The SPI futures are pointing to a rise of 22 points. Asia-Pacific markets were mixed with markets awaiting monetary policy decisions by the Bank of Japan. The Bank of Japan is expected to finish its policy meeting later today Australian time. The key