Ampol wants new COVID approach after loss
SYDNEY, AAP – Ampol boss Matthew Halliday says short coronavirus lockdowns are damaging longer-term consumer confidence and Australia needs a risk-based approach. Mr Halliday was speaking on Monday after the fuel refiner posted a full-year loss of $485 million, mainly due to coronavirus restrictions limiting travel. The company formerly known as Caltex Australia makes money…
More Grocon companies enter administration
MELBOURNE, AAP – Another 45 companies affiliated with the collapsing Grocon building empire have gone into administration. The administrators were appointed on Monday to oversee Grocon Group Holdings Pty Ltd, Grocon Constructors (NSW) Pty Ltd and 43 other development-specific companies, many of which appear dormant. It follows 42 Grocon companies being placed into administration late…
Higher Aussie to soften petrol pump pain
Higher Aussie to soften petrol pump pain Petrol Prices; Used vehicle market; Household survey • Fuel prices: Last week the national average price of unleaded petrol rose by 2.2 cents a litre to 131.2 cents per litre (c/l) according to the Australian Institute of Petroleum. • Used car prices: According to the Datium Insights, used…
Earnings Season: Half-time report
Earnings Season: Half-time report Corporate Profit Reporting Season • Each ‘earnings season’ or ‘profit-reporting season’ CommSec tracks all the earnings results of S&P/ASX 200 companies to obtain a comprehensive picture of the aggregate health of Corporate Australia. • The earnings season has another week to go. But so far, 85 of the ASX200 index group…
8 lessons from 12 remarkable months
This time last year Mrs S and I were heading off to Alentejo for a week of good food, wine and late winter sunshine. Thank goodness we did. It’s hard to remember the carefree, hop-on-a-plane world we took for granted just 12 months ago. Obviously, I didn’t know at the time that the world’s stock…
QBE reports $US1.5 billion loss
SYDNEY, AAP – Insurer QBE has elected not to declare a final dividend, recording a statutory net loss after tax of $US1.5 billion ($A1.93 billion) following last year’s $US550 million profit. The company put the somewhat expected result down to Australia’s Black Summer bushfires, significant hail and storm claims, US wildfires and a record number…
Nuclear ideal to cutting emissions: Joyce
CANBERRA, AAP – Nationals MP Barnaby Joyce is backing small modular reactors as “ideal” nuclear technology to replace decommissioned coal-fired power stations and reduce emissions. “Nuclear reactors can do it,” Mr Joyce told reporters in Canberra on Thursday. He said the Morrison government’s $1 billion grid reliability fund run out of the Clean Energy Finance…
CommSec Daily Report Wednesday
Latest news The Australian sharemarket is coming under pressure for the first time this week, with the ASX 200 declining by 0.62 per cent to 6,874.3 on one of the busiest days of the year for half year results. Declines from supermarket chains, gold miners, travel stocks, tech and healthcare are weighing most heavily. Strong…
BHP profit falls after NSW coal value cut
SYDNEY, AAP – BHP’s first-half profit fell by 20 per cent after the resources group cut the value of its NSW coal assets, as it continues to pivot toward a carbon-neutral future. Bottom line net profit for the six months ended December was $US3.9 billion ($A5.0 billion), down from $US4.9 billion. The result reflected a…
Bendigo Bank H1 earnings helped by lending
SYDNEY, AAP – Bendigo Bank executives are confident an improving housing market and jobless rate will further help lending and deposits after a 1.9 per cent rise in first-half cash earnings. Australia’s fifth-largest retail bank on Monday reported cash earnings after tax of $219.7 million, higher than the previous first half. The interim dividend was…
