Ansell shares slide on profit warning
Ansell shares have slid more than nine per cent after the protective gloves and clothing maker warned that its annual earnings guidance could fall, citing uncertainty over costs and tariffs on US imports. The company says its adjusted earnings per share could fall by five to six US cents from its guidance range of $US1.00…
Wall St ends down as Turkey woes hit banks
US stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank shares and triggered a move out of riskier assets. The Dow and S&P 500 posted declines for the week following five straight weeks of gains, but the S&P 500 remains just 1.4 per cent below its record high from January…
Oil majors wary of investing in volatile era
Crude prices are surging, and oil majors are cashing in.But with the pain of the last downturn all too fresh in their memories, they remain wary of investing to bring more oil to market, analysts say.From $27 per barrel in January 2016 the main international contract climbed to $57 at the end of last year.Then…
Soft start for Australian market predicted
The Australian share market is expected to have a soft start to the week after a busy Friday night on US and European markets amounted to little. The ASX200 futures contract was down seven points at the close on Friday and is suggesting a start five or 10 points lower come Monday. ‘Basically we’ve seen…
ASIC reprimands Goldman Sachs over bookbuilding process
Goldman Sachs has been handed a reprimand from the Australian Securities and Investments Commission (ASIC) over its method of selling shares. The US-based investment banking powerhouse accepted a type of enforcement action known as an enforceable undertaking (EU) from ASIC over Goldman’s bookbuild messaging system. An EU is a type of settlement agreed between ASIC…
CommSec Daily Report Friday
Latest newsAustralian shares have bounced off intraday lows to trade just a couple of points firmer at lunch thanks to gains from most of the banks and miners. The ASX 200 is up by 0.03 per cent after being down as much as 0.25 per cent on the open following a mixed finish on Wall…
Retail Food Group appoints new CEO
The head of embattled cafe and pizza outlet owner Retail Food Group, Andre Nell, has been replaced by the man overseeing the company’s business-wide review. RFG, the owner of Gloria Jean’s, Donut King and Crust Pizza, says Richard Hinson, who was hired by the company in January to lead a strategic review triggered by problems…
Coles restricts access to baby formula
Baby formula will join razors and cigarettes behind the counter at some NSW supermarkets to ensure Australian parents have enough to feed their infants. The move follows reports some formula brands worth between $25 and $35 for a one-kilogram tin are being bought in bulk and on-sold in China for a profit of up to…
Kogan reports strong 3Q growth
Online retailer Kogan.com’s revenue has jumped by 46.1 per cent for the third quarter as customer numbers and the value of transactions continued to grow. Kogan, which sells products ranging from consumer electronics to insurance and pet accessories, says its gross transaction value rose nearly 50 per cent during the three months to March 31….
Labor to push Joyce over jobs for partner
Labor will continue to pursue Barnaby Joyce over what special treatment may have been afforded his now-pregnant partner – but insists it doesn’t want to cause any more distress to the deputy prime minister’s family. The government maintains there was nothing untoward about the jobs Vikki Campion held in National Party MPs’ offices after she…
