Shares in Slater & Gordon have been placed in a trading halt ahead of an update on the troubled law firm’s class action and a restructure proposal. The company’s aggrieved shareholders are chasing compensation for the almost wholesale evaporation of the law firm’s value following its ill-judged $1.3 billion acquisition of British professional services firm […]
US stocks rebounded from the biggest selloff since May, while Treasuries fell after unexpectedly strong hiring data bolstered confidence in the American economy, underscoring the Federal Reserve’s case for raising interest rates. Crude fell below $US45 a barrel. ASX futures closed up 10 points or 0.2 per cent at 5661. The Australian dollar was 0.3 per […]
Sirtex Medical has taken a $90 million hit on the value of its clinical and research and development assets and will cut its workforce by 15 per cent as the medical device developer moves to reset its core business for expansion. The company (SRX), whose core technology is a selective internal radiation therapy, also says […]
Even though Apple (AAPL) has shown no appetite for making large acquisitions, Wall Street analysts continue to speculate that the iPhone maker will use its massive cash stockpile to make a game-changing deal. Investment bank Citigroup is the latest to weigh in on what Apple might do with its war chest, which totaled $256.8 billion in cash and […]
The logo of Microsoft is pictured in Issy-les-Moulineaux, France, August 8, 2016. REUTERS/Jacky Naegelen/File Photo (Copyright Reuters 2016) U.S. tech giant Microsoft (MSFT) announced Thursday it will lay off thousands of workers amid a massive global reorganization of its workforce. “Microsoft is implementing changes to better serve our customers and partners. Today, we are taking […]
Coca-Cola Amatil has suffered another setback after losing a contract to major rival Pepsi/Schweppes to stock soft drinks and bottled water at hundreds of fast-food shops across the nation. The decision by pizza giant Domino’s to switch drinks suppliers is the second recent blow for Coca-Cola Amatil, after Woolworths refused to stock its latest product, Coca-Cola No […]
Sir Richard Branson, Virgin Australia chief executive John Borghetti and other special guests celebrating the airline’s inaugural Melbourne-Hong Kong flight. (Virgin Australia) Virgin Australia flight VA87 has taken off from Melbourne bound for Hong Kong, marking the start of what chief executive John Borghetti describes as the airline’s Asian expansion. The flight, operated by Airbus […]
Electric cars will be as cheap as gasoline models by 2025 Battery manufacturing capacity will triple in the next four years Electric cars will outsell fossil-fuel powered vehicles within two decades as battery prices plunge, turning the global auto industry upside down and signaling economic turmoil for oil-exporting countries. The Bloomberg New Energy Finance forecast says adoption […]
THE nation’s largest pizza chain, Domino’s, are cutting costs and their pizza size Deutsche Bank analyst Michael Simotas said he understands the company will shortly begin a trial of smaller pizzas as part of a strategy to cut food costs in an attempt to reduce cost pressure stemming from recent changes that increased penalty rates […]
Soaring home prices in Australia’s biggest cities are driven by strong demand and a lack of supply, rather than indicating a “bubble,” according to HSBC’s local chief cconomist Paul Bloxham. “At a national level, a key reason for rising housing prices has been housing under-supply,” Bloxham writes. “This also suggests that a significant fall in prices, as occurred in […]
