LA Private

February 15, 2024

Renesas Electronics’ $9.1 billion bid sent ASX tech sector soaring yesterday

The $9.1 billion bid for Altium from Japanese giant Renesas Electronics sent the ASX’s tiny tech sector sharply higher on Thursday. The agreed bid helped push fellow mega-caps WiseTech (up 4.7% – valued at more than $26 billion), Xero (up 5.7% to nearly $18 billion), NEXTDC (up 3.4% to more than $7 billion), and TechnologyOne

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Wesfarmers forges ahead with lithium expansion despite industry challenges

In the face of industry-wide concerns and cutbacks, Wesfarmers (ASX:WES) has demonstrated unwavering confidence in its lithium venture, as evidenced by its recent interim results announcement. Despite cautioning investors that spodumene concentrate sales in 2024 may not bolster earnings due to low prices and high startup costs, the conglomerate remains resolute in its lithium ambitions.

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Uptick in Wesfarmers dividend despite retail sector slump

In defiance of prevailing market trends characterized by sluggish retail sales and dwindling profits, Wesfarmers (ASX:WES), propelled by the stellar performance of its Kmart retail group comprising Kmart and Target, has announced a commendable uptick in its interim dividend. The retail conglomerate reported a commendable 3% surge in statutory net profit after tax to a

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South32 slashes dividend

In a move reflective of the challenges facing the global mining sector, South32 (ASX:S32), a prominent player in the industry, has announced a substantial reduction in its interim dividend. The company has cut its interim dividend by a staggering 92%, with shareholders now set to receive a mere 0.4 of a US cent per share.

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