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Australia’s largest health insurer, Medibank (ASX:MPL), has been instructed by the prudential regulator to increase its capital adequacy by $250 million and undergo a targeted technology review following the fallout from the country’s largest data breach. The move comes as the insurer faces consumer class action lawsuits stemming from the October 2022 cyber incident that […]

Australia Post CEO Paul Graham has observed a weakening trend in parcel delivery volumes as consumers tighten their belts in response to rising interest rates and cost of living pressures. Graham noted that shoppers are seeking to stretch their dollars further by looking for discounts and trading down when shopping online. While he remains optimistic

Cost of living pressures have not dampened the travel industry, according to Qantas (ASX: QAN), as the airline reassures investors that its earnings remain unaffected by rising household bills and higher interest rates. Qantas has reported that its domestic capacity has returned to pre-pandemic levels, with 11 new international routes added since mid-May to meet

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses the possible recession. Key pointsThe risk of recession globally and in Australia has increased with ongoing central bank rate hikes.Signs of faster wages growth has seen the RBA turn more hawkish. The risk of recession here is now around 50%.Recession would mean

At the closing bell, the S&P/ASX 200 was 0.56 per cent higher at 7,118.20. Shares snapped a consecutive decline over the course of four days, while the banking, real estate, and mining sectors outperformed. The market appears to have absorbed significant selling pressure, potentially linked to the conclusion of the month, quarter, and financial year.

Australian medical diagnostics company Sonic Healthcare (ASX:SHL) has announced its acquisition of Swiss laboratory network Synlab Suisse for CHF100m ($250.9m). This strategic move marks a significant expansion of Sonic’s presence in Switzerland. The decision to purchase Synlab Suisse was prompted by Synlab Group, the parent company, divesting its Swiss operations, which currently employ 600 staff

Shares in KFC chain Collins Foods (ASX:CKF) surged on Tuesday following an impressive start to the 2023-24 financial year, despite concerns over rising inflation costs. While analysts expressed satisfaction with the results, CEO Drew O’Malley highlighted the delayed effect of inflation, which is expected to put pressure on margins throughout the coming year. Collins Foods

Moody’s Ratings has expressed strong approval for Northern Star’s (ASX:NST) $1.5 billion expansion plan for the SuperPit gold mine near Kalgoorlie. The company announced its intention to double production by 2029, aiming to increase output from the current 13 million tonnes to 27 million tonnes per year. The expansion is projected to nearly double gold

Bega Group (ASX: BGA), Australia’s largest locally owned food group, has issued a warning stating that escalating dairy prices could result in a substantial non-cash impairment of up to $180 million. This impairment is expected to push the company into a statutory loss for the year ending on June 30. In an announcement made to

27 Jun 2023 – A snapshot of the stocks on the move featuring INOVIQ, Forrestania Resources, Lincoln Minerals and Tamboran Resources.