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Glenn Dyer
Fed Ready To Unwind, Shrugs Off Inflation 'Mystery'
Added On - 9/21/2017 8:16:26 AM
Despite cutting its inflation forecasts for the next two years to well below its 2% target, the US Federal Reserve has lined up four more rate rises between now and the end of 2018, as well as kicking off the winding back of its huge $US4.5 billion balance sheet.
Coates Deal Forces Seven Into Equity Raising
Added On - 9/21/2017 8:12:00 AM
Did Kerry Stokes and the Seven Group board blink in the wake of the huge surge in debt the company would be carrying after the purchase of the 53% of Coates Hire it doesn't already own?
Seven Group Buys Out Coates Hire
Added On - 9/21/2017 8:11:49 AM
It's been talked about for years, mentioned for months and then negotiated for almost as long - or so it seems from the numbers of reports to that effect - we are talking about Kerry Stokes' key company, Seven Group Holdings finally buying the 53% of Coates Hire it didn't own from Carlyle Group and others for $517 million.
Australian Unity To Sell GU Health To nib
Added On - 9/21/2017 8:11:37 AM
Shares in health insurer nib Holdings went into a trading halt yesterday after revealing plans for a capital raising to fund a $155.5 million acquisition of corporate health insurance provider GU Health.
Federal Court Derails Tabcorp, Tatts Merger
Added On - 9/21/2017 8:10:47 AM
The Federal Court has blown up the $11 billion merger of the two gambling giants, Tabcorp and Tatts.
Bed Bath & Beyond Adds To Retail Gloom
Added On - 9/20/2017 7:48:46 AM
Hours after Toys 'R' Us collapsed and went into bankruptcy protection, the retail slump whacked another big US chain - this time in homewares.
New Hope Swings Back To Profit
Added On - 9/20/2017 7:38:17 AM
Coal miner New Hope Corporation, which is a part of the Washington H. Soul Pattinson group of companies has swung to an annual profit on the back of stronger sales and sharply improved coal prices.
TPG Takes The Long View On Mobile
Added On - 9/20/2017 7:38:10 AM
TPG has slashed its final dividend to preserve cash as it begins the investment build up for its new mobile phone network, as well as facing growing pressures from the NBN.
Playtime Over For Toys 'R' Us
Added On - 9/20/2017 7:38:04 AM
As expected the Toys 'R' Us chain has collapsed in the US, going into Chapter 11 bankruptcy protection on Monday night leaving the fate of hundreds of stores and 64,000 thousands of employees around the world up in the air.
No Worries As Wall St Holds Record Highs
Added On - 9/19/2017 7:31:52 AM
After reaching new all-time highs during the Monday trading session, Wall Street's two main indexes - the S&P 500 and the Dow closed at record levels for yet another day.
Speculation Mounts Over Media Deals
Added On - 9/19/2017 7:31:46 AM
The shrinking of the Australian legacy media is underway with the Financial Review yesterday reporting that Kerry Stokes' Seven West Media is talking to Fairfax Media about a potential marriage.
Evolution Divests Edna May Gold Mine
Added On - 9/19/2017 7:31:39 AM
Evolution Mining trimmed its 2017-18 gold production guidance and cut its costs estimate after selling the high cost Edna May mine to Ramelius Resources for up to $90 million.
Toys 'R' Us Headed For Bankruptcy
Added On - 9/19/2017 7:31:28 AM
From an existential threat to retailers worldwide in the 1990's to possibly the biggest victim of America's retail malaise so far in 2017 - that's what lies ahead of fallen idol, Toys 'R' Us this week.
China Housing Growth Cools Further In August
Added On - 9/19/2017 7:31:21 AM
More evidence yesterday that China's buoyant housing sector is losing some of its bounce.
Laws Won't Fix The Media Sector
Added On - 9/18/2017 6:36:08 AM
The new media laws won't take the fading Australian media sector into the future, but allow it to go back to the comfortable past.
Media Reform Harks Back To 70s
Added On - 9/18/2017 6:28:24 AM
Once the media law changes, especially the ownership provisions pass the house of Representatives in October we will be heading back to the media structures of the 1970s and early 80's.
Diary: US Fed Meets, RBA Minutes, Brexit Update
Added On - 9/18/2017 6:27:45 AM
Investors will be looking for leads from the latest economic data and the US Federal Reserve monetary policy meeting that ends early Thursday morning, Sydney time.
US Markets Hit New Highs
Added On - 9/18/2017 6:27:34 AM
The two-day US Federal Reserve monetary policy meeting this week will dominate markets this week.
Commodities End Mixed Over The Week
Added On - 9/18/2017 6:27:21 AM
Another mixed week for commodities with most drifting lower on Friday and over the week (especially iron ore) as the US dollar firmed - only oil stood out.
China Data Blips Or Dips?
Added On - 9/15/2017 6:54:56 AM
Now here's an unexpected surprise. Chinese government data out yesterday revealed that growth in retail sales and industrial production last month slowed unexpectedly as expansion in fixed asset investment dipped more than anticipated hit the lowest growth rate for 18 years.
Inside The Media Law Reforms
Added On - 9/15/2017 6:54:32 AM
With the Senate approving the proposed media law changes that will allow the country's remaining publishers, TV and radio stations to marry in haste and lose money (and repent) at leisure, a bankruptcy hearing in far away Anchorage, has relevance to what will happen in Australia.
Jobs Growth Surprise In Unemployment Data
Added On - 9/15/2017 6:54:22 AM
Australia's labour market at its fastest for four years confirming expectations at the Reserve Bank for a recovery in demand for labour, and supporting the confident forecasts this week from the National Australia Bank.
Where To For A Weak Myer?
Added On - 9/15/2017 6:54:10 AM
The stupidity of the Australian investment analyst and many investors knows no bounds - their combined capacity to ignore the blinding obvious and look for the faint or non existent positive when it suits them is legendary - and the latest results of Myer are another example.
IEA Sees Oil Market Moving Back Into Balance
Added On - 9/14/2017 8:00:44 AM
US oil prices hit at a five-week high and Brent crude rose to their highest since April, after a report from the International Energy Agency that showed global crude production fell for the first time in four months in August with some of that due to the impact of Hurricane Harvey.
NAB: Higher Rates Still A Year Away
Added On - 9/14/2017 7:59:46 AM
The National Australia Bank has lifted its forecasts for the Australian economy a day after its monthly business conditions survey showed another decade high in activity.
Warren Buffett Suffers Rare Rejection
Added On - 9/14/2017 7:56:23 AM
Gee they are an ungrateful lot in Canada - after saving Home Capital Group, the country's biggest subprime lender, shareholders have rejected Warren Buffett's attempt to lift his stake in the still wobbly mortgage group.
Newcrest Resumes Mining At Cadia
Added On - 9/14/2017 7:56:14 AM
Shares in Newcrest Mining added nearly 2% yesterday after the company confirmed that it had restarted production from the second of two key areas at its Cadia East gold mine in NSW.
Pro-Pac In 'Significant' Merger
Added On - 9/14/2017 7:55:56 AM
Investors in the ASX-listed Pro-Pac Packaging seem happy that management, led by former Australian Post chair, Ahmed Fahour, and legendary corporate wheeler and dealer, Gary Weiss seem to be betting the company in an attempt to double its size via a $177.5 million merger deal with flexible packager Integrated Packaging Group (IPG).
Apple Shares Ease On iPhone Release
Added On - 9/13/2017 7:49:57 AM
It was a modest reaction from investors to the launch of the much hyped iPhone 8 series, as well as a new, expensive flagship model as the company moved to three versions of the phone.
Trinity Mirror To Expand UK Tabloid Empire
Added On - 9/13/2017 7:49:45 AM
Now for the deck chair shuffling in the UK daily newspapers.
Confidence Dips As Business Conditions Remain Solid
Added On - 9/13/2017 7:49:38 AM
Another solid report on business conditions and the economy from the National Australia Bank's monthly survey, but business confidence eased a touch.
QBE Chief To Step Down
Added On - 9/13/2017 7:49:08 AM
It's never a good look for a company's shares to rise in the wake of the announcement of the departure of a long time CEO. But that's what happened with QBE shares yesterday after the company said John Neal, its CEO of the past five years is leaving.
QBE Braces For Irma Impact
Added On - 9/12/2017 8:05:32 AM
According to Moody's credit rating agency the impact from Hurricane Irma on the insurance sector will be big - with primary and reinsurance groups hardest hit of all in many cases.
Irma's Damage Estimates Significant, But Downgraded
Added On - 9/12/2017 8:05:21 AM
Forecasts for the cost have been cut to as low as $US20 billion as the storm weakened and changed direction, missing Miami.
Performance Fees Drive Upbeat Macquarie
Added On - 9/12/2017 8:05:12 AM
Macquarie Group has delivered an upbeat assessment of income in its first-half ahead of ruling off the books on September 30 (along with its bigger peers, ANZ, NAB and Westpac).
Grant Samuel Ticks Tatts-Tabcorp Merger
Added On - 9/12/2017 8:04:54 AM
No wonder the independent expert's report reckons the $11 billion takeover deal on offer from Tabcorp is a no brainer for Tatts shareholders.
Diary: Local Jobs, iPhone 8, Hurricane Irma
Added On - 9/11/2017 8:09:04 AM
The new iPhone 8 will be the only business story of interest globally this week, but there's also the impact of the two hurricanes approaching the US, not to mention some important economic data for the US and Australian economies this week.
ASX Slips 0.9% Over The Week
Added On - 9/11/2017 8:05:12 AM
The Australian share market will start flat and wondering where to go later today with fears about the impact of Hurricane Irma foremost, along with the now usual tensions about North Korea and the sell off in metals late last week.
China Trade, Inflation Data Holds Steady
Added On - 9/11/2017 8:05:07 AM
The August trade and inflation data from China was mostly solid - a lot of silly talk about a smaller than expected rise in exports, while imports were higher overall and inflation was tame.
Commodities Rally Runs Out Of Steam
Added On - 9/11/2017 8:04:57 AM
The recent rally in metal prices (except gold and silver) came to a sudden halt on Friday as the prices of iron ore, copper, lead nickel and zinc slid.
Aussie Dollar Hits Two-Year High
Added On - 9/11/2017 8:04:49 AM
The Aussie dollar ended last week at its highest close for nearly two and a half years - after touching 81.20, the highest since the start of 2015 on Friday night.
Newsprint Realities
Added On - 9/8/2017 2:48:55 PM
What you didn't learn from the wins this week by The Australian and The Weekend Australian in the Newspaper of The Year award handed out in Sydney. The sponsor, the Norwegian paper company, Norske Skog is teetering on the brink of collapse after the collapse of a shareholders meeting that was to have been held last month.
Amcor Plotting US Takeover?
Added On - 9/8/2017 11:35:58 AM
Packaging company Amcor is considering a takeover of smaller US rival Bemis Co.
APRA Unveils CBA Inquiry Cast
Added On - 9/8/2017 11:34:17 AM
Here's some of the extra pressure on the Commonwealth Bank share price over the next 8 to 9 months at least.
WA Hits Gold Miners With Royalties Double Whammy
Added On - 9/8/2017 8:31:29 AM
The gold mining companies on the ASX were hit hard yesterday by the West Australian government's budget with a double tax hit.
Amazon Impacts Are Over-Hyped
Added On - 9/8/2017 8:31:14 AM
Amazon completed its $US14 billion takeover of Whole Foods last month and immediately cut prices, put in new products from its own line up, and American analysts, media and many in the retail sector wet themselves.
Sigma In Good Health
Added On - 9/8/2017 8:30:48 AM
Shares in pharmaceuticals and health products supplier Sigma Healthcare jumped more than 4% yesterday after the company met lowered guidance, revealed a new acquisition and reaffirmed it was on track for higher earnings in the next year.
GDP Tracks RBA Forecast
Added On - 9/7/2017 7:30:13 AM
The next data point for the Reserve Bank and economists (and those who have lived through the situation previously) to worry about was confirmed in yesterday's June quarter GDP figures from the Australian Bureau of Statistics.
Headwinds Loom For ASX Insurers
Added On - 9/7/2017 7:30:04 AM
A combination of Hurricanes Harvey and Irma, plus fears about North Korea, the continuing worries about the money laundering charges against the Commonwealth Bank and a downgrade by a leading bank kicked the chocks from under listed financial stocks yesterday.
Brierty Falls Into Administration
Added On - 9/7/2017 7:29:57 AM
More bad news from embattled civil and mining contractor Brierty as the company was put into the hands of administrators late yesterday.
Lowe Confident On Wages Growth
Added On - 9/6/2017 7:29:49 AM
No movement on interest rates for some time was the message from yesterday's Reserve Bank board meeting and a speech made in Brisbane after the meeting by Governor Phil Lowe.
Senex Wins Surat Basin Gas Project
Added On - 9/6/2017 7:26:02 AM
Senex Energy shares jumped almost 6% yesterday after it became the preferred tenderer for the first major gas project in the Surat Basin to produce for supply for domestic consumption only.
CBA To Face Shareholder Class Action
Added On - 9/6/2017 7:25:28 AM
Class action funder, IMF Bentham has confirmed it will fund a Federal Court open class action against the Commonwealth Bank relating to those allegations that Australia's biggest bank breached anti-money laundering and counter terrorism funding laws.
RBA Upbeat But Unmoved
Added On - 9/6/2017 7:25:15 AM
Move on, nothing to see here. Interest rates are not going anywhere soon.
Miners Ramp Up Copper Capex
Added On - 9/6/2017 7:25:07 AM
Follow the money - BHP is spending $US2.5 billion to expand the life of its Spence mine in Chile, as well as another $US600 million on revitalising Olympic Dam in South Australia. OZ Minerals will spend well over $US1 billion expanding its Prominent Hill mine and developing a new mine at Carrapateena in South Australia.
RBA All Set To Do Nothing
Added On - 9/5/2017 7:42:05 AM
Don't expect anything but a 'sitting' pat statement from the Reserve Bank in its September statement on monetary policy. The final paragraph from the August meeting's statement from Governor Phil Lowe will likely be repeated in today's statement from him.
Commonwealth Bank Begins Renewal Program
Added On - 9/5/2017 7:41:15 AM
It was a month on Sunday that the Commonwealth Bank's great secret and nightmare escaped from the secrecy of the bank's boardroom and senior management offices in its Sydney HQ and out into the public arena - those devastating claims of money laundering from the country's financial intelligence group, Austrac.
Resource Exploration On The Rise
Added On - 9/5/2017 7:40:40 AM
The mining and oil industries are back looking for new resources or drilling out existing deposits as global prices for commodities such as copper, nickel, lead, zinc, iron ore and gold continue to firm. Only oil and gas prices have not risen in the past month.
Diary: RBA Rate Call, Oz GDP, ECB Meets
Added On - 9/4/2017 7:29:21 AM
It's a very busy week ahead for Australia - there's the Reserve Bank's monetary policy meeting tomorrow, the June quarter GDP figures the day after, data on retail sales, and trade for July as well as car sales for August.
Hurricane Harvey Fails To Stir Oil Prices
Added On - 9/4/2017 7:28:58 AM
Oil prices seem to be coping with the continuing impact of Hurricane Harvey on the US oil, gas and associated industries.
Gold Higher On Rising Geopolitical Tensions
Added On - 9/4/2017 7:28:22 AM
Gold prices jumped more than 2% last week as global political fears (Russia, the US, North Korea) and the unknown impact of Hurricane Harvey combined to unsettle investor sentiment.
ASX Set For Positive Start On Improving Outlook
Added On - 9/4/2017 7:28:06 AM
Even though US markets will be closed tonight for the Labor Day holiday (meaning two days without much of a guide for markets in Asia, other than Europe), that shouldn't have much of an impact on the gathering optimism about the health of the Australian and global economies.
CBA, Telstra Headline Mixed August
Added On - 9/1/2017 7:48:17 AM
US oil and gas stocks were the best performers on Wall Street in 2016 with a jump of 24%. In Australia the reporting season ended with the ASX 200 index down a handful of points.
Slater & Gordon Market Cap $27m, Loss $547m
Added On - 9/1/2017 7:47:57 AM
Every now and then there is a financial result so staggering that you can wonder if the company can - and in this case should - survive. But that is what happened to listed law firm Slater and Gordon which used the last day of the reporting season to reveal a $547 million loss for the year to June against a market value of just $27 million.
OrotonGroup Shakes Off Gap Exit
Added On - 9/1/2017 7:42:29 AM
After all the negative reports this year (profit downgrades, closures, job cuts) for the struggling OrotonGroup, shareholders yesterday grabbed the first bit of good news for a while and gave the shares a solid push higher.
Australian Companies Flag Stronger Capex Plans
Added On - 9/1/2017 7:42:21 AM
Australian companies are planning to lift investment spending in 2017-18, boosting it from three months ago by 17.6% to $101.8 billion.
Cattle Price Rise Stampedes Wellard
Added On - 9/1/2017 7:42:12 AM
The last day of any reporting season usually sees two things - the release of Harvey Norman's results and lot's of weak or red ink stained reports from other companies. And so it was with cattle exporter Wellard.
No, Harvey, No: HVN Sinks Despite Record Profit
Added On - 9/1/2017 7:41:40 AM
Shares in Harvey Norman were given a whacking by investors yesterday who didn't like the surprise news of a cut in dividend, the weak explanation for the decision, and the backdrop of record earnings.
Buffett's Share Investing Lessons On 87th Birthday
Added On - 8/31/2017 8:16:30 AM
And it's a very happy 87th birthday for Warren Buffett overnight as he 'celebrated' by crystalising another of his now legendary coups - a $US13 billion ($US16.4 billion) profit becoming the biggest shareholder in the huge Bank of America.
NBN Disconnects Telstra Securitisation Plan
Added On - 8/31/2017 8:13:03 AM
Telstra can't take a trick at the moment. Dividend cuts (which seemed prudent), increased competition and weakening margins saw the shares hammered lower earlier this month.
Boral Builds Solid Outlook
Added On - 8/31/2017 8:12:54 AM
Building materials group Boral is looking for continued sales and profit growth in the US and Australia over the next year after both regions helped the company report another year of solid earnings.
Billabong Posts Improved Operating Result
Added On - 8/31/2017 8:12:46 AM
On the face of it surfwear retailer Billabong turned in a weak result for the year to June, reporting a $77.1 million loss after slashing the value of goodwill and brands including Von Zipper, Kustom, Xcel and RVCA by $106 million.
Ramsay Health Hits European Headwinds
Added On - 8/31/2017 8:12:39 AM
Ramsay Health Care will be looking to its core Australian business to repeat its 2016-17 performance in the coming year after its European operations saw a slowdown in growth in the year to June.
Retail Food Lifts Profit But Misses Guidance
Added On - 8/30/2017 8:28:08 AM
Investors yesterday withheld judgement on the 2016-17 profit from the coffee, bakery and pizza franchise owner The Retail Food Group (RFG).
Blackmores Profit Takes China Hit
Added On - 8/30/2017 8:22:32 AM
Blackmores has pruned its final dividend after reporting a sharp drop in earnings for the year to June.
Temple & Webster Recovers, Eyes Profit
Added On - 8/30/2017 8:22:24 AM
Online homewares retailer Temple & Webster seems to have survived its near death experience last year, reporting a smaller loss for the year to June and maintaining earlier forecasts of making its first profit in 2019.
Downer Ends Up With 88% Of Spotless
Added On - 8/30/2017 8:22:02 AM
Now for the battle for Spotless and who will crack first.
Dreamworld Fallout Stings Mantra
Added On - 8/30/2017 8:21:53 AM
Mantra shares have had a rollercoaster 2017, surging in January through March (and sliding as well) as speculation rose and fell that it could be facing a bid from private equity or a big global hotel chain.
Specialty Takeover Unlikely As Losses Widen
Added On - 8/30/2017 8:21:37 AM
Specialty Fashion shares plunged yesterday after it confirmed that a $135 million indicative takeover proposal from Al Alfia Holdings, an investment company controlled by the Qatari royal family, was unlikely to proceed.
CBS To Buy Troubled Ten Network
Added On - 8/29/2017 8:22:19 AM
Giant US TV company, CBS will acquire the failed Network Ten, for an unknown amount.


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