February 25, 2024

So far this reporting season, major miners have revealed more than $US13 billion (nearly $A20 billion) in write-downs and impairments as global markets across 2023, and weak demand send prices and profits lower and upset projections for the rest of this year and 2025. It’s no secret that nickel is the most troubled business, iron […]

Brazilian miner Vale surprised investors with a fourth-quarter profit much weaker than expected, reporting a $US2.42 billion net profit, down from the $US3.72 billion reported in the final quarter of 2022—the second-biggest iron ore exporter globally after Rio Tinto. Analysts had anticipated $US4.15 billion, making the report a bit of a shock. However, the reason

This week, roughly 40 reports are expected from the ASX 200 and All Ordinaries indexes, with notable mentions including Harvey Norman, Coles, and Woodside Energy. Shane Oliver, AMP’s chief economist, comments on the reporting season’s progress, stating that it now appears rather average. He notes a slight downturn in companies beating earnings expectations, with consensus

It’s almost official: Warren Buffett has all but anointed (verbally) one of his two senior managers, Greg Abel, as his successor at the top of Berkshire Hathaway, likely Vice Chair (to replace the late Charlie Munger in that role). Abel, who oversees all of the non-insurance businesses Berkshire owns, has been mentioned before as the

Restaurant Brands New Zealand (ASX:RBD) has announced that shareholders will not receive dividends for the fiscal year 2023, following a significant downturn in earnings. Despite the company’s initial optimism, reflected in an estimated profit of $NZ16.3 million disclosed in its December full-year sales report, the actual figure reported in late January matched this projection, disappointing

Sydney-based soft goods retailer, Adairs (ASX:ADH), has reduced its interim dividend as sales fell by 10%, and earnings dropped by 19% in what directors described as a “challenging macro-environment.” The interim dividend was slashed to 5 cents a share from 8 cents a year ago, with the DRP still in operation to encourage shareholders to

Warren Buffett is correct in advising investors to disregard Berkshire Hathaway’s statutory profit figures, as they are distorted by accounting rules mandating the inclusion of unrealized gains and losses. However, recent figures from the December quarter and full 2023 demonstrate otherwise. Forced to report in this manner, Berkshire’s true standout performer, its vast insurance and

In the week ahead, markets face a significant test, with a crucial inflation reading and the second estimate of US 4th quarter economic growth challenging the prevailing confidence in lower interest rates. Despite Wall Street’s obsession with AI advancements and the soaring fortunes of companies like Nvidia, the looming prospect of rate cuts from the

Amidst the frenzy surrounding Nvidia’s meteoric rise, questions arise about its impact on commodity markets. Investor attention diverted from metals and softs, leaving them vulnerable to various economic factors, including American inflation data, weak sentiment, US bond yields, and the trajectory of the US dollar. Geopolitical tensions exacerbate market uncertainty, with concerns over Ukraine, Russia,

With the Lunar New Year break over, the pain continues for China, despite the surprise rate cut last week and a solid 2.8% to 4.1% rise in the country’s stock markets. Friday saw yet another sign of the damage the implosion black hole that is the property sector is causing, with the 0.7% fall in