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CEOs upbeat about economy in 2018

Australian chief executives are optimistic about the year ahead but concerned about rising energy prices, a new study shows. The Australian Industry Group 2018 Business Prospects report, released on Wednesday, found investment plans and expectations of employment growth are higher than at any time since 2012. ‘Looking to the year ahead, CEOs expect general business…

GetSwift faces questions over major deals

Shares in the logistics software company GetSwift have been suspended from trade amid allegations it failed to tell investors about the loss of significant contracts. GetSwift shares have been halted from trade since Monday and the publication by Fairfax Media of reports that the company has breached its continuous disclosure obligations. GetSwift on Wednesday requested…

Shares post second straight day of gains

The share market gained ground as demand for energy, healthcare and some financial stocks offset the impact of weaker commodity prices on miners. The benchmark S&P/ASX200 index gained 0.3 per cent to 6,054.7 points, with most sectors in positive territory. Macquarie Private Wealth division director Martin Lakos said several factors contributed to a solid run….

Santos lifts FY revenue 20%, cuts debt

Oil and gas producer Santos has lifted full-year revenue 20 per cent to $US3.1 billion ($A3.88 billion), with higher prices offsetting falls in production and sales volume. The energy producer said fourth quarter production was flat at 15 million barrels of oil equivalent, but a 27 per cent rise in average realised prices over the…

Michael Hill to leave US in overhaul

Jewellery chain Michael Hill International will shut shop in the US after 10 years of losses, and reduce the store count of its struggling charm brand Emma & Roe. The Brisbane-based retailer’s US business and Emma & Roe stores accounted for five per cent of group revenue in the last financial year, but booked a…

Wattle Health milks China as Q2 sales jump

Infant formula supplier Wattle Health has reported bumper second-quarter sales, and says it will shake up the milk formula trade in 2018 on the back of key accreditation and distribution agreements at home and in China. Wattle Health, which listed on the Australian share market in March, says sales for the October 10 to December…

Kathmandu’s half year profit to rise 20%

Outdoor clothing and equipment retailer Kathmandu expects first-half profit to rise by at least 20 per cent following a successful Christmas trading period. The dual-listed retail chain said it expects net profit of at least $12 million when it reports on March 20, with total sales rising to $204 million from $196.3 million in the…

International markets roundup

NEW YORK: US stocks have advanced, as strong results from Netflix helped lift the S&P and Nasdaq Composite, but declines in Johnson & Johnson and Procter & Gamble kept the Dow Industrials in check. Netflix touched a record high of $US257.71 and was last up 9.98 per cent at $US250.30, to cross the $US100 billion…

Aust shares look set to open higher

The Australian share market looks set to open comfortably higher after strong gains on major international markets and a mainly positive lead from Wall Street thanks to upbeat earnings reports. At 0700 AEDT on Wednesday, the share price futures index was up 16 points, or 0.27 per cent, at 6,002. The US market got a…

$A is a smidgen higher against $US

The Australian dollar is a smidgen higher against its US counterpart after US lawmakers agreed an interim funding bill but there was no major economic data to inspire the languishing greenback. At 0635 AEDT on Wednesday, the Australian dollar was worth 79.93 US cents, up from 79.90 US cents on Tuesday. Westpac’s Imre Speizer says…