A day before releasing what are expected to be bad figures, Fletcher Building (ASX:FBU) has finally named a new CEO in the shape of former executive, Andrew Reding. He will start on Thursday, 22 August, as a director of the company and become CEO from 30 September. The end-of-first-quarter start date will give him a […]
Fletcher Building appoints new CEO Read More »
NZ adventure-wear group, KMD Brands (ASX:KMD), is heading for a significant loss for the year to 31 July, despite a sales update showing a gradual improvement from the retailer’s mid-year slump. In an update on Tuesday, just 11 days before the balance date, the company revealed it expects underlying EBITDA to be between NZ$49 million
KMD Brands heads for major loss Read More »
US shares advanced on Monday, extending recent gains as investors looked ahead to the highly anticipated Federal Reserve symposium later this week. The Dow Jones Industrial Average lifted 236.77 points, or 0.58 per cent, to close at 40,896.53. The S&P 500 rose 0.97 per cent to finish at 5,608.25, while the Nasdaq Composite jumped 1.39
Wall Street rallies ahead of Jackson Hole meeting Read More »
Investors who had reduced their equity exposure during the market volatility in early August significantly increased their holdings as global stocks rebounded last week, according to data from Deutsche Bank. In a reflection of how quickly markets have recovered from the earlier sell-off, discretionary investors—those who decide when to buy or sell based on market
Global stocks surge as recession fears ease Read More »
Chinese authorities have restricted access to a key data source on inward investment as global funds continue to withdraw from the country’s stock market, raising the possibility that 2024 could mark the first year of net equity outflows. On Monday, daily data tracking net investment flows from foreign funds into mainland Chinese stocks—referred to as
China restricts investment access Read More »
The slump in global coal prices has again caught up with Yancoal Australia (ASX:YAL), the big Chinese-controlled thermal and soft coking coal miner and exporter. The company revealed on Monday night that first-half earnings tumbled 57% to an after-tax profit of $420 million for the first half, from $973 million a year ago. That saw
Yancoal profit plummets amid coal price slump Read More »
Global convenience store giant, Japan’s Seven & i Holdings, has received a reported US$31 billion takeover offer from Canada’s global convenience store giant, Alimentation Couche-Tard. The Nikkei newspaper reported the offer on Monday, which, if it happens, would be the biggest foreign takeover of a Japanese company. Alimentation Couche-Tard has a market value of around
Seven & i in play for massive takeover Read More »
Gold and iron ore traded higher on Monday, with the precious metal hitting new highs after the US dollar fell to seven-month lows. Iron ore futures on the SGC platform in Singapore jumped more than 3% to close Monday evening at US$95 a tonne for 62% Fe fines. This unexpected rise came after data released
Precious metals shine as dollar slumps Read More »
Electrification, the process of converting non-electric energy sources into electricity at the point of consumption, is rapidly transforming how we power our nation. This shift is driven by a confluence of factors: the introduction of new electric technologies, increasing environmental concerns, and supportive government policies across Australia. As a key strategy for achieving net-zero emissions,
Electrifying Australia: Mayfield Group leading the charge Read More »
The Australian sharemarket closed slightly higher on Monday amid a subdued trading session as investors focused on a series of company profit reports on the ASX. The benchmark S&P/ASX 200 Index rose by 0.1%, or 9.3 points, to 7980.4, with seven of the 11 sectors finishing in the red. Utilities led the gains, with stocks
ASX closes 0.1% higher: Mixed profit results and sectoral divergence Read More »
