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Santos rejects $9.5b US takeover approach

Santos rejects $9.5b US takeover approach

Oil and gas producer Santos has revealed it rejected a nearly $9.5 billion takeover bid from a US investment firm led by a former top executive of energy giant Royal Dutch Shell.  The company said US-based Harbour Energy offered $4.55 a share for Santos in August to buy the oil and gas producer via a […]

Bunnings says its losses in the UK are about to get even worse

Bunnings says its losses in the UK are about to get even worse

Bunnings’ jaunt into the United Kingdom and Ireland is about to get tougher, with parent company Wesfarmers saying that the heavy losses the hardware chain is running up will get worse before they get better.   Wesfarmers bought the British chain Homebase for $705 million last year, and said it would spent up to a $1 billion re-branding […]

ASX rises 0.7pc as momentum builds

ASX rises 0.7pc as momentum builds

Investors poured into miners and banks on Tuesday, extending a powerful upswing and pushing the benchmark index further above its recent tight trading range.  The benchmark S&P/ASX 200 Index climbed 42 points or 0.7 per cent higher to 5889, while the broader All Ordinaries lifted by a similar margin to 5958 points.  The ASX’s hot […]

What the future holds for Domino’s

What the future holds for Domino’s

THERE are drastic changes coming to Domino’s, including a radical menu overhaul but the changes they’re planning have little to do with pizza.   Domino’s came to Australia way back in 1983 and after almost 35 years of pretty much sticking to the pizza area of the fast food market, it’s decided to come for everyone […]

Qantas shares soar to record high

Qantas shares soar to record high

Qantas shares have hit a new high after US investment bank Goldman Sachs upgraded its rating on the airline.  Qantas shares gained 3.5 per cent to hit $6.15 today after Goldman upgraded its rating on the stock from neutral to buy.  After four years of “negligible growth”, Goldman analysts tip a resurrection in domestic travel […]

RBA holds rates steady at 1.5%

RBA holds rates steady at 1.5%

The RBA has kept rates steady at their historical low of 1.5 per cent, as widely expected, while offering little to encourage talk the central bank will hike in 2018. Reserve Bank governor Philip Lowe continued to strike an upbeat tone on the state of the local economy, but warned that wage growth and inflation […]

Real-time payments to be launched early next Year

Real-time payments to be launched early next Year

A new payments systems is “on track” to be able to deliver real time bank transfers and the ability to ditch BSB numbers from Australia Day.  While most people take a break over summer, banks will be putting the finishing touches on the biggest overhaul in the payments system in years. removal of ATM fees Treasurer Scott Morrison […]

Myer’s share price hit an all-time low after analysts downgrade

Myer’s share price hit an all-time low after analysts downgrade

Myer investors have punished the department store and pushed its share price to an all-time low after analysts downgraded the stock following its weak full-year results.  The company on Thursday revealed its full-year profit slumped 80 per cent to $11.9 million in 2017, driven by a $38.8 million writedown to the value of fashion brand […]

Cloudy days ahead for Macquarie as high levels debt and global pressures are stifling shareholders

Cloudy days ahead for Macquarie as high levels debt and global pressures are stifling shareholders

Macquarie Group, the world’s largest infrastructure manager, could be forced into a fire sale of ­assets as it comes under pressure from rising interest rates, high levels of debt and stalled earnings, according to Citi. Despite booking a record $2.2 billion profit last year, Macquarie’s earnings have been coming under increasing pressure.  The growth in profit […]

Bitcoin’s price drops after report China may shut down exchanges

Bitcoin’s price drops after report China may shut down exchanges

The price of bitcoin fell sharply after a report China’s regulators are planning a further crackdown on the digital currency. Bitcoin and altcoins have dropped up to 25% in hours after rumors surfaced. Local outlet Caixin is reporting the Asian country is planning to shut down local bitcoin exchanges, according to a Google translation.  Bitcoin’s price fell 7 percent […]