US group buys Aussie winemaker Accolade
Major Australian wine company, Accolade Wines, the owner of more than 50 labels including Hardys, has been bought out by US private equity firm The Carlyle Group. Carlyle managing director David Bluff says there is significant growth potential for Accolade in major wine markets in the Asian region. Accolade has a portfolio of prominent brands…
Treasury Wine sinks on over-supply reports
Shares in Penfolds maker Treasury Wine Estates have touched a four-month low amid reports it is facing an over-supply of its wine in China. The company’s shares hit a low of $15.64 on Thursday after Fairfax Media reported that several distributors in China are sitting on large amounts of stock that is not selling. The…
Children join thousands at Anzac services
More than 100 years since that fateful landing at Gallipoli, Australians are being reminded of the importance of sharing the Anzac story with younger generations. Tens of thousands rose early on Wednesday to attend dawn services – big and small – across the country, including many children. This year marks the 103rd anniversary of the…
Merrill Lynch penalized over sale of fraud-linked Chinese stock
US market regulators on Thursday censured a Merrill Lynch brokerage unit, charging the company with selling the unregistered shares of a Chinese business software firm accused of falsifying its accounts.Merrill Lynch, Pierce, Fenner & Smith Inc, a unit of Bank of America, neither admitted nor denied the allegations but agreed to pay a $1.25 million…
Investor Signposts: Week Beginning Mar 18 2019
Investor Signposts 15 Mar 19: Jobs and population data in focus. CommSec Senior Economist Ryan Felsman previews the economic and financial market events scheduled for the week ahead including the RBA Board Minutes, the February employment data and the latest population figures. Watch Video: https://youtu.be/erSJfW8CPiU Australia: Jobs and population data in focus • In the coming…
S Fed’s Powell: Global growth positive but under pressure
The global economic outlook remains positive, with instability in just a few emerging markets seeing instability – but is slightly less positive than a few months ago, US Federal Reserve Chairman Jerome Powell said Tuesday. ‘I think growth still healthy but maybe under a little bit of pressure,’ Powell told the National Association for Business…
BHP cuts iron ore guidance on dumper issue
Mining giant BHP Billiton has trimmed its full-year iron ore production guidance after being forced into unexpected dumper car maintenance. The company now expects to produce between 272 million tonnes and 274 million tonnes for the 2018 financial year, compared to previous guidance of between 275 million and 280 million tonnes. Third-quarter iron ore production…
Winners in the dining boom
Stories about the so-called “dining boom” mostly focus on Australia’s potential to export more fruit, vegetables and meat to Asia. Exporting seafood to emerging markets gets less attention from stockmarket investors, even though fish is a key part of Asian diets. Unlike most developed countries, Australia exports a large proportion of its seafood. Asia consumes…
Chinese carmakers show goods in Geneva as sales tank at home
Chinese carmakers have flocked to this year’s Geneva International Motor Show, eager to present new electric models to a global crowd as traditional car sales slip at home.Europe’s biggest annual car show, which opens to the public on Thursday, has typically been a showcase for luxury cars from historic manufacturers, but this year new Chinese…
AustralianSuper pushing companies to reduce carbon emissions
AustralianSuper, the biggest super fund in the country, worth some $140billion worth of investments, is slowly establishing itself as one of the leading voices for climate action as it calls on some of the companies with the dirtiest polluting habits to begin faster diversification. With climate change becoming one of the hottest topics when it comes to…
