February 2024

Perth-based mining giant Mineral Resources (ASX:MIN) unveiled its disappointing financial performance for the December half-year in a late Wednesday evening release, catching markets off-guard after hours. The company reported a substantial 28% decline in underlying EBITDA to $674.9 million, coupled with an alarming 83% reduction in the final dividend, slashed to 20 cents per share […]

CSR (ASX:CSR) has confirmed that it has received a $9 per share bid approach from French building products giant Saint-Gobain. At that price, any offer would value the Australian company at $4.3 billion. The suggested price is a skinny $1.05 to CSR’s last price on Wednesday of $7.95, but it is 98 cents above the

The Nasdaq Composite slid for a third session in a row Wednesday. The Dow Jones Industrial Average added 48.44 points, or 0.13 per cent, settling at 38,612.24. The S&P 500 gained 0.13 per cent to end at 4,981.80. The tech-heavy Nasdaq Composite lost 0.32 per cent to close at 15,580.87. Nvidia achieved record-breaking revenue growth

Glencore, a top five global miner, emerged as the biggest victim of the 2023 collapse in coal prices, experiencing a 50% plus slump in earnings and slashing dividends. The company seeks to lower and control debt, aiming to ironically buy more coal amidst the price slide. Glencore intends to acquire Teck Resources’ coal unit for

Federal Reserve officials have given U.S. investors, analysts, and politicians, heading for November’s elections, something to think about by making it clear they remain “highly attentive” to inflation risks and are therefore wary of cutting interest rates too quickly. According to the minutes of the Fed’s January meeting, the conservative view on rate cuts pours

For the second time in four months, HSBC has revealed its pessimism regarding the future direction of the Chinese economy and the country’s severe property crisis with a massive write-down on a key investment, this time in a major bank. Last October, HSBC disclosed a $US500 million charge to cover potential losses on commercial real

Rio Tinto (ASX:RIO) reported an 11.1% drop in underlying earnings for 2023 late Wednesday. Weaker prices resulted in a lower contribution from its aluminium business, despite the expected solid performance from iron ore. The world’s largest iron ore producer said its underlying net earnings came in at $US11.8 billion for 2023, compared with $US13.28 billion

Santos (ASX:STO) revealed a 42% slump in its underlying 2023 net profit to $US1.423 billion ($A2.2 billion) due to weaker gas prices and sales. While this was down from a 2022 figure boosted to $US2.46 billion by one-off items, the Adelaide-based group’s statutory result also fell heavily – down 33% to $US1.416 billion. Instead of

By the tiniest of margins, Australian wages grew faster than inflation in the three months to December, but it would not have happened had it not been for revisions to previous estimates in the Wage Price Index. The Index rose at an annual rate of 4.2% in the quarter, while the Consumer Price Index rose

Companies discussed include: Suncorp Group Limited (ASX:SUN)Goodman Group Limited (ASX:GMG)