Challenger Limited (ASX:CGF) posted strong first-quarter results for FY25, with total assets under management increasing to $128 billion, up 1%. Total Life sales reached $2.4 billion, driven by a 26% rise in retail lifetime annuity sales and a significant 74% increase in Japanese annuities. However, fixed-term annuity sales saw a drop of 28% due to […]
Challenge accepted Read More »
Bank of Queensland (ASX:BOQ) has announced its FY24 results, reporting a significant rise in statutory net profit after tax to $285 million, a 130% increase from FY23. However, cash earnings after tax saw a 24% decline to $343 million, reflecting challenges in a competitive lending market and rising operational costs. BOQ’s net interest margin decreased
Bank of Queensland reports strong profit, but lending challenges persist Read More »
The Reject Shop (ASX:TRS) delivered a robust performance in FY24, reporting record sales of $852.7 million, a 4.1% increase year-on-year, despite operating in a challenging retail environment. The company attributes its growth to the successful implementation of a new merchandise strategy that emphasises consistently low prices on branded household essentials and seasonal items. CEO Clinton
Stocks fell sharply on Tuesday, taking a pause from their recent rally as traders analysed the latest corporate earnings reports. The Dow Jones Industrial Average dropped 324.80 points, or 0.75 per cent, closing at 42,740.42 after reaching a new intraday record before reversing course. The S&P 500 declined 0.76 per cent to finish at 5,815.26,
US stocks retreat as traders digest earnings reports Read More »
Oil prices plunged over 4% to a near two-week low on Tuesday, driven by a weaker demand outlook and a report indicating that Israel would refrain from attacking Iranian nuclear and oil facilities, which alleviated concerns about potential supply disruptions. Brent crude futures closed down $3.21, or 4.14%, at $74.25 a barrel, while West Texas
Oil plunge 4% on weak demand outlook and easing geopolitical tensions Read More »
Westgold Resources (ASX:WGX) still expects its recent gold acquisition, Karora Resources, to provide an expected second half boost in production, revenue and earnings after reporting a lift in September quarter production. Westgold completed the takeover of Canadian-listed (but Australian) Karora Resources in August, for $1.2bn. WGX said it produced 77,369 ounces of gold from its
Production soars for Westgold following $1.2bn Karora deal Read More »
The surging Australian dollar, the gold price and higher production has seen NSW Central West gold miner and copper explorer Alkane (ASX:ALK) book a 33% surge in revenue for the three months to September. The company told the ASX on Monday that production rose to 18,418 ounces for the quarter, from 15,855 ounces in the
Alkane rides wave of high gold prices Read More »
Rio Tinto will take control of a $2.4bn uranium mine rehabilitation project for its majority-owned subsidiary Energy Resources of Australia (ERA), ending a long-running dispute with minority investors over control of the company and its former mine near Kakadu National Park in the Northern Territory. That’s after the Takeovers Panel stood by its decision to
Takeovers Panel clears path for Rio control of ERA Read More »
Fuel refiner and retailer Ampol (ASX:ALD) is facing a rough end to 2024. Problems that emerged in the three months to September are continuing into the final quarter of the financial year. The problems cost it around $100 million in lost earnings in the September quarter. From the tone of Tuesday’s update, another hit this
Ampol’s pipeline of problems: $100m in earnings goes up in flames Read More »
Nathan Simiana, Director for Industrials and Smart Manufacturing at Deloitte, discusses transforming industry through data-driven decision-making. Abbey Phillipps: I’m Abbey Phillipps for the Finance News Network, and today we’re talking about emerging industrial technologies. I’m joined by Nathan Simiana, who is a Director at Deloitte and a member of the Executive Council for the Internet
Smart manufacturing and the next industrial revolution Read More »
