Ride share fleet company P2P shares fall
Shares in ride share and taxi fleet management company P2P Transport have fallen sharply after the company warned of a drop in earnings due to higher costs and lower revenue. P2P says earnings for 2017/18 are now expected to be between $10.1 million and $11.1 million, down from its prospectus forecast of $12.7 million. The…
Bankwest to close 29 branches
Bankwest is closing 29 branches along Australia’s east coast and cutting 200 jobs, saying customers are increasingly using mobile banking. Bankwest, which is owned by Commonwealth Bank, says the branches will close over a three-week period from August 17, reducing its east coast footprint to 14 branches. Managing director Rowan Munchenberg blamed rapid changes in…
CommSec Daily Report Thursday
Latest newsAussie shares are improving at lunch for just the third time in ten sessions despite the closure of US markets last night for a holiday. The ASX 200 is up by 0.5 per cent or 31pts to 6215 and is being led higher by the big banks.While local stocks hit 10.5 year highs less…
Snapchat aims to spread reach to other apps
Snapchat messaging service on Thursday set out to spread its reach, and panache, to other smartphone apps with a software kit that promised to share little data about users.Parent company Snap said people will be able to use Snapchat credentials to sign into apps the way they might do using Facebook or Google credentials, while…
CommSec Daily Report Friday
Latest NewsFresh trade concerns between the US and major trading partners has sparked another downturn in global equity markets overnight with the US looking to impose tariffs on aluminium and steel imports from Europe, Canada and Mexico. Losses on all US indices has created a weak lead for the Aussie market which has opened softer….
CommSec Daily Report Thursday
Latest newsAussie shares are off to a softer start on Thursday, with strong gains from energy and mining stocks not enough to offset losses elsewhere. The ASX 200 index is down by 0.3 per cent while the latest monthly jobs report was a touch better than expected.While Aussie shares remains near four-month highs, in recent…
Inflation up, but still below RBA target
Australia’s inflation remains below the Reserve Bank’s target, despite a spike in education and healthcare contributing to the 0.4 per cent rise in the consumer price index in the March quarter. The CPI undershot economists’ forecasts for a 0.5 per cent lift, and was slower than the December quarter figure of 0.6 per cent, figures…
Daigou hub streams live shopping to China
Australia’s first purpose-built retail hub for China’s growing army of “daigou” shoppers has opened, with facilities to stream live to millions of consumers waiting to place an order from overseas. The daigou hub in Sydney’s Chinatown has been created by ASX-listed AuMake to serve up products from AuMake’s 500 Australian partner brands to daigou, or…
Consumer groups shun mortgage broker forum
The consumer groups that were part of a forum with the mortgage-broking industry have quit en masse, citing a lack of progress and willingness to change. Choice, Consumer Action Law Centre, Financial Counselling Australia and Financial Rights Legal Centre pulled their representatives from from the Combined Industry Forum. ‘Buying a home is one of the…
Banks boost share on Hayne report release
The Australian share market has closed higher after investors’ worst fears over the banking royal commission’s interim report were unfounded. The benchmark S&P/ASX200 index was up 26.4 points, or 0.43 per cent, at 6207.6 points on Friday, while the broader All Ordinaries index was 26.2 points, or 0.42 per cent, higher at 6325.5 points. After…
