Nine profit jumps as ad revenues return
Nine Entertainment’s full-year profit has jumped 26.8 per cent to $156.7 million, driven by strong earnings from its free-to-air television operations and the accelerated growth of its digital businesses. Revenue for the year to June 30 was up 6.5 per cent to $1.32 billion, with both digital and television businesses reporting revenue growth of seven…
China economic data
Home building supports Chinese economyChinese economic dataChinese retail sales rose at an 8.8 per cent annual rate in the year to July, (forecast: +9.1 per cent), down from 9.0 per cent in June.Chinese industrial production rose at a 6.0 per cent annual rate in June, below the forecast average (+6.3 per cent). Production had risen…
Mnuchin insists agriculture was part of US-EU trade talks
The US treasury secretary insisted Sunday that agricultural issues were discussed in President Donald Trump’s talks last week with Jean-Claude Juncker, contradicting the EU Commission president’s account of the negotiations.‘I was in the room and we had specific conversations about agriculture and the need to break down the barriers on agriculture and have more opportunities…
Rolls-Royce unveils hybrid flying taxi at Farnborough
British engine maker Rolls-Royce revealed plans this week to develop a hybrid electric vehicle, dubbed the ‘flying taxi’, which takes off and lands vertically and could be airborne within five years.The London-listed aerospace giant, which is based in Derby in central England, showed off the plans at the Farnborough Airshow for the first time, as…
Tesla production leader Doug Field exits company
Tesla on Monday confirmed that the head of Model 3 production, who went on leave after chief executive Elon Musk took over his duties, will not be returning.The departure of engineering senior vice president Doug Field came as California-based Tesla appeared to have finally hit a self-imposed goal of cranking out 5,000 Model 3 electric…
A tale of two sectors
The stories of two sectors – Banks and Industrials – illustrates that while some current PE ratings are at levels not seen since before the dotcom bust, others are falling into line with long-run expectations.It is now passé to say the Australian equity market is becoming fully valued, led by the TIHCs – Technology, Infrastructure,…
Former Domain CEO lands new property gig
Former Domain chief executive Antony Catalano has taken up a leadership role at the real estate advertiser’s biggest client, as the search for his replacement at Domain continues. Mr Catalano quit as chief executive of Domain in January, just two months after it listed on the ASX, as the demands of his role and absence…
EU leaders seek united front on Trump
European Union leaders will try to forge a united response at a summit on Wednesday to US President Donald Trump’s shock decisions on the Iran nuclear deal and trade tariffs.The 28 leaders will also discuss the deaths of dozens of Palestinians in Gaza after Trump moved the US embassy to Jerusalem, in another move that…
Stormy economic horizon to give ECB pause
Confronted by threats to economic growth and still-sluggish inflation the European Central Bank will likely temper expectations Thursday for a quick exit from its massive stimulus programme for the eurozone, analysts expect.Governors are expected to keep interest rates at their historic lows and hew to a September expiry date for their 30-billion-euro ($37 billion) per…
Northern Star boosts exploration spend
Gold miner Northern Star is bringing forward exploration investments after making significant discoveries at its Jundee mine in Western Australia. Executive chairman Bill Beament said the miner will bring forward $25.4 million of exploration spending that had been planned for future years into the second half of the current financial year, after the latest exploration…
