August 23, 2024

Each week The Last Word will offer a review of the week’s events and their impact on the markets. Topics discussed include:US rate cutsThe Democratic conventionThe Fed’s annual conference at Jackson HoleBanks cutting fixed mortgage and term deposit ratesGold

Warren Buffett’s Berkshire Hathaway has been engaged in one of its most significant portfolio shake-ups in years. The company has significantly reduced its holdings in several major companies, including Apple, Bank of America, and Snowflake. The most notable change is the near-halving of Berkshire’s stake in Apple. This decision, disclosed in the company’s June quarter

Inghams (ASX:ING), a major Australian chicken producer, experienced a significant share price drop on Friday despite reporting a substantial increase in full-year profits. While the reported results were slightly below market expectations, the market’s reaction seemed excessive. The company reported a net profit after tax of $101.5 million, up 68% year-on-year. However, this was below

Tim Oldham – CEO & Managing Director – AdAlta Limited (ASX:1AD) is a clinical-stage biotechnology company. The company’s lead asset, AD-214, is being developed for the treatment of idiopathic pulmonary fibrosis.

There’s still significant corporate activity in Australia’s coal industry, but most of the serious action is in thermal coal companies expanding into higher-value steelmaking coals. Whitehaven Coal and Yancoal Australia are prime examples of this trend. Whitehaven has recently acquired two high-quality hard coking coal mines in Queensland from BHP and quickly capitalised on this

Dr Ebbe Dommisse – CEO – Iondrive Limited (ASX:ION) is an emerging leader in battery recycling technology, with a focus on lithium batteries.

Simon Madder – Managing Director & CEO, Chairman – Prime Financial Group Limited (ASX:PFG) is an advice, capital and asset management firm with team members around the globe.

Gold producer Regis Resources (ASX:RRL) has announced a full-year loss, driven by previously disclosed hedging costs, losses, and recent impairments to its under-development McPhillamys project in central western NSW. This news follows the company’s decision to abandon the McPhillamys project, withdraw its reserve estimate, and terminate its involvement. Regis revealed a net loss of $186.02

ANZ Bank (ASX:ANZ) has faced further regulatory scrutiny from the Australian Prudential Regulation Authority (APRA), this time over its handling of information and transactions involving Commonwealth Government bonds. In a statement on Friday, APRA announced a significant increase in its capital overlay penalty on ANZ, raising it by 50% to $750 million. This decision was

Another positive update from NZ respiratory products group, Fisher & Paykel Healthcare (ASX:FPH), on Friday. The company was upbeat about the first half of the year and raised its full-year guidance. The medical devices company expects first-half revenue for the six months ending September to be in the range of approximately NZ$940 million to NZ$950