Oil prices have surged following the United States’ announcement of sanctions on Russia’s largest oil producers. This move comes as President Donald Trump increases pressure on Vladimir Putin to negotiate an end to the conflict in Ukraine. Brent crude jumped as much as 2.9 per cent, exceeding $US64 a barrel, while West Texas Intermediate also […]
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Shares in Fortescue Metals Group experienced a slight dip of 0.3 per cent after initial gains, despite a healthy September quarter. According to Morgans deputy head of research, Adrian Prendergast, Fortescue’s shipments of 49.7 million tonnes marginally exceeded expectations during the period. Fortescue Metals Group is a global leader in the iron ore industry, committed
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BHP Group Chairman Ross McEwan has dismissed recent speculation of a dispute with China over iron ore pricing, stating the miner has a “pretty good” relationship with the country. His comments come amid concerns about potential shifts in currency denomination for iron ore sales. BHP is a leading global resources company, extracting and processing minerals,
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Shares in Guzman y Gomez (GYG) have experienced a sharp decline, prompting concerns about the company’s valuation despite surpassing $1 billion in revenue. According to HLB Mann Judd Sydney partner Simon James, the recent 18 per cent single-day drop may indicate both an anticipated market adjustment and deeper valuation issues. Guzman y Gomez is a
Guzman y Gomez Shares Tumble After Revenue Milestone Read More »
The Australian Competition and Consumer Commission (ACCC) has blocked the proposed acquisition of Konvoy Kegs by US-based MicroStar, the owner of rival Kegstar. MicroStar, the largest independent keg services company in the US, entered the Australian market in 2021 when it acquired Kegstar from Brambles. The ACCC’s decision prevents the merger of the two major
ACCC Blocks MicroStar’s Konvoy Kegs Acquisition Read More »
Insignia Financial has announced that its funds under management and administration (FUMA) reached $340.5 billion as of September 30. This represents an increase of $10.2 billion, or 3.1 per cent, for the quarter. The company is an Australian financial services firm that provides a range of wealth management and investment solutions. It operates through multiple
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Northern Minerals Limited (ASX: NST) has requested and been granted a trading halt by the Australian Securities Exchange (ASX). The halt, announced on October 25, precedes an anticipated capital raise. Northern Minerals is focused on developing significant deposits of heavy rare earths. The company aims to be a reliable, sustainable supplier of ethically produced dysprosium
Northern Minerals Halted Ahead of Capital Raise Read More »
Ainsworth Game Technology (AGT) has confirmed it received a partial takeover offer from its second-largest shareholder, Kjerulf Ainsworth. Ainsworth, the sixth son of pokies billionaire Len Ainsworth, is attempting to prevent Austrian gaming giant Novomatic from taking the company private. Ainsworth Game Technology is a manufacturer and supplier of gaming machines and associated equipment, primarily
Ainsworth Faces New Takeover Bid Read More »
The Australian Securities Exchange (ASX) is holding its annual general meeting in Sydney, where the board is addressing shareholders amidst a period of heightened scrutiny. The company, which operates Australia’s primary stock exchange, has faced operational and regulatory challenges. The board faced a potential second strike regarding its remuneration report but is expected to avoid
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Inghams Group Limited (ING) has refuted a report published in The Australian’s DataRoom column suggesting the company is engaged in discussions to sell its business. In a statement released to the Australian Securities Exchange (ASX), Inghams explicitly denied the claims, asserting that it “has not been holding such discussions or otherwise pursuing a sale of
Inghams Denies Sale Speculation in Market Announcement Read More »
