Australia

Results for Australia

Wesfarmers Profit Halves in Wake of Homebase Retreat

Wesfarmers’ annual profit halved as a result of more than A$1bn in write-offs linked to the sale of Homebase, the Australian retail-to-industrials conglomerate’s disastrous foray into the UK DIY market, the Financial Times reported. The company said ...

Daily Headline - global.abi.org - 08/15/2018 - 23:12 - 0 comments

JB Hi-Fi Posts $2.9 Million Loss for NZ, Expects Sales to Continue Shrinking

JB Hi-Fi expects to see another year of declining revenues on this side of the Tasman as the ASX-listed discount consumer electronics retailer attempts to drive profitability in its New Zealand unit, The New Zealand Herald reported. The local divisio ...

Daily Headline - global.abi.org - 08/13/2018 - 23:06 - 0 comments

Hedge Funds Are Shorting Australian Retailers as Home Prices Fall

Hedge funds have found a new way to profit from the sorry state of Australia’s housing market: playing off how much poorer consumers feel as their home values decline, Bloomberg News reported. Managers including Totus Capital and Sydney’s Regal Funds Man ...

Daily Headline - global.abi.org - 08/09/2018 - 22:51 - 0 comments

Australia's Westpac to Lend A$100 Million to Drought-Hit Farmers

Australia’s Westpac Banking Corp said on Thursday it would disburse A$100 million ($74.2 million) in cheap loans to farmers as a record dry spell hits parts of the nation, while the country’s lenders fight to regain public trust amidst an ongoing miscond ...

Daily Headline - global.abi.org - 08/08/2018 - 23:16 - 0 comments

Australia’s Mortgage Crisis: More Than One Million Homeowners Are Set to Default on Their Mortgages in the Next Two Months

Almost one million Australian homeowners are set to default on their mortgages in the coming months, an independent analyst warns. Digital Finance Analytics principal Martin North explained that if the big four banks do go ahead and increase their standard variable rates by as little as 0 ...

Daily Headline - global.abi.org - 07/10/2018 - 23:57 - 0 comments

Telstra to Cut 8,000 Jobs, Sell Assets in Make-or-Break Overhaul

Telstra Corp. plans to cut 8,000 jobs, sell assets and potentially spin off a new infrastructure business in a make-or-break attempt to fend off competition, Bloomberg News reported. The stock tumbled. Australia’s former phone monopoly, which has lost mo ...

Daily Headline - global.abi.org - 06/19/2018 - 21:53 - 0 comments

Australia Holds Key Rate at 1.5% as Unemployment Edges Up

Australia left its key interest rate unchanged at a record low Tuesday after the key unemployment metric edged higher, Bloomberg News reported. Reserve Bank Governor Philip Lowe kept the cash rate at 1.5 percent, where it has stood since 2016, as expecte ...

Daily Headline - global.abi.org - 06/05/2018 - 22:39 - 0 comments

Global asset management quarterly

Welcome to the ninth edition of Global asset management quarterly. This publication highlights key developments that will be of interest to and affect our asset management clients, including market trends and developments in tax and buy-side regulation g ...

Resource Article - twallace@abiwor... - 06/01/2018 - 10:22 - 0 comments - 0 attachments

Australia's Quintis Handed Lifeline by BlackRock-Led Bondholders

Bondholders led by BlackRock Inc have agreed to inject capital into Quintis Ltd and take it private, rescuing the Australian sandalwood firm after it collapsed in the wake of a short-seller attack, Reuters reported. Between A$125 million and A$175 millio ...

Daily Headline - global.abi.org - 06/01/2018 - 14:29 - 0 comments

Santos Falls After Rejecting Harbour Offer as Too Low, Too Risky

Santos Ltd. plunged the most since 2016 after rejecting Harbour Energy Ltd.’s $10.9 billion final offer and terminating talks, saying its proposal was too low and too risky, Bloomberg News reported. The Australian oil and gas producer said Tuesday its in ...

Daily Headline - global.abi.org - 05/22/2018 - 22:57 - 0 comments

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