Fortescue gains workers, H1 profit down
SYDNEY, AAP – Iron ore miner Fortescue Metals has reported better access to workers since Western Australia relaxed quarantine conditions, which could help performance after first-half profit slipped. Fortescue boss Elizabeth Gaines on Wednesday said the company was focused on getting workers needed for its Pilbara operations and the easing of coronavirus quarantine rules for…
ASX higher despite mixed earnings
SYDNEY, AAP – Company earnings reports have sent major stocks in opposite directions while the Australian market looked like settling higher for a second consecutive day. The market was up 0.61 per cent on Thursday after US markets moved little amid tension between Russia and Western nations, and a more relaxed approach to rate hikes…
Funds for water options in SA’s north
ADELAIDE, AAP – The development of a sustainable water supply for South Australia’s north, to help support economic growth, will be examined through a $15 million commitment from the state and federal governments. The money will be used to develop a business case for the Northern Water Supply project which could include construction of a…
Vic workers miss out on billions in super
MELBOURNE, AAP – Victorian workers are missing out on about $1.2 billion a year in retirement savings, analysis by a superannuation industry body reveals. According to Industry Super Australia, more than 760,000 workers were underpaid an average of $1606 in 2018/19. ISA chief executive Bernie Dean says workers are mostly unaware of the problem. “This…
CSL profit falls due to pandemic curbs
SYDNEY, AAP – Biotech firm CSL has posted a $US1.76 billion ($2.46 billion) net profit in its half-year results, down 5 per cent, after the COVID-19 pandemic inhibited its ability to collect plasma, a core part of its business. But the blood products giant was able to boost revenue through, in part, strong sales of…
Sydney public transport return to normal
SYDNEY, AAP – Sydney’s public transport services will return to a regular timetable at the end of the month when COVID-19 restrictions are expected to ease. Transport Minister David Elliott says train services will return to a weekday timetable from February 28, to accommodate a rise in patronage with an expected return of people to…
Wall St rallies on easing Ukraine worries
NEW YORK, RAW – Wall Street has ended sharply higher as signs of de-escalating tensions along the Russia-Ukraine border fuelled a risk-on session. All three major indices notched solid advances on Tuesday, with market-leading tech and tech-adjacent stocks providing the biggest boost and putting the Nasdaq out front. Geopolitical heat was turned down a notch…
BHP earnings can’t lift ASX to gains
SYDNEY, AAP – A BHP first-half profit which pleased investors could not distract Australian share market participants from the possibility of conflict in Europe. BHP improved profit to $13.2 billion and paid a higher dividend, but the market was weighed down by the threat of Russia invading Ukraine. Oil prices dropped but remain elevated on…
New airline Bonza names 16 destinations
BRISBANE, AAP – New low-cost domestic airline Bonza has unveiled 25 routes it will offer between 16 regional destinations in Australia’s eastern states. The carrier will offer flights between Albury, Avalon, Bundaberg, Cairns, Coffs Harbour, Gladstone, Mackay, Melbourne, Mildura, Newcastle, Port Macquarie, Rockhampton, Sunshine Coast, Toowoomba Wellcamp, Townsville and the Whitsunday Coast. Bonza says its…
Wheat farmers take heed of Ukraine tension
SYDNEY, AAP – Australian grain farmers are preparing for the main sowing season as global wheat prices trade near decade highs over concerns a Russian invasion of Ukraine would disrupt global exports. Russia and Ukraine account for about one-third of grains and oil seeds traded globally, which means any disruption to shipping caused by conflict…
