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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 […]

CBA facing class action over money laundering allegations

CBA facing class action over money laundering allegations

The Commonwealth Bank faces a potential investor class action over its disclosure of more than 53,000 alleged breaches of anti-money laundering laws, following a sharp fall in its share price when the scandal emerged earlier this month.  Plaintiff law firm Maurice Blackburn, backed by listed litigation funder IMF Bentham, said on Wednesday it would investigate a potential […]

Home sales fall sharply in June, lowest since 2013

Home sales fall sharply in June, lowest since 2013

Sales of new homes fell sharply in June to the lowest since 2013, though conditions were markedly different across states, an industry survey showed on Monday.  The Housing Industry Association (HIA) said its survey of large-volume builders showed new home sales fell a seasonally adjusted 6.9 percent in June, from May, reversing two months of […]

Slater and Gordon yet another trading halt

Slater and Gordon yet another trading halt

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 […]

No hint of hikes as RBA remains on hold

No hint of hikes as RBA remains on hold

No hint of hikes as RBA remains on hold The Reserve Bank remains firmly perched on the fence, leaving the official cash rate unchanged at a record low for an eleventh straight month. The central bank kept the official interest rate at 1.5 per cent, as Governor Philip Lowe pointed to mixed labour market conditions […]

Murdoch, Gordon signal move on Ten

Murdoch, Gordon signal move on Ten

Murdoch, Gordon signal move on Ten Ten Network’s billionaire shareholders Lachlan Murdoch and Bruce Gordon have signalled their intention to take over the besieged network, seeking a review of a joint bid from the competition regulator. Mr Murdoch and Mr Gordon, through their respective investment vehicles Illyria and Birketu, have sought an informal review of […]