Angry Analysts Slam Woolies As Staff Underpayments Mount
Now the underpayment scandal hitting major retailers is getting costly with the total bill, so far approaching $600 million.
Read MoreNow the underpayment scandal hitting major retailers is getting costly with the total bill, so far approaching $600 million.
Read MoreCement and concrete group, Adelaide Brighton has confirmed its mid-year downgrade to revenue and earnings and sliced dividend for 2019, and warned of a 10% slide in earnings this financial year (which ends on December 31).
Read MoreUnlike Seven though, Nine remains a profitable, viable business, but even so the media sector – from print to broadcast TV and radio, not to mention digital – is seeking a slide in spending.
Read MoreThe Dow has suffered its worst two day fall in history after it fell 879.44 points overnight on of top Monday’s 1,031 point plunge. Tuesday’s 3.15% slump pushed the index deeper into the red for 2020 with a loss now of 5.11%.
Read MoreOnline jobs listing provider Seek has slashed its interim dividend after warning about the potential fallout from the coronavirus crisis which is worsening outside of China.
Read MoreCaltex Australia has become another company to cut dividends after a weak result for 2019, a situation compounded by the takeover interest in the company that in turn has stopped the company from finding a replacement to departing CEO, Julian Segal.
Read MoreOil Search has cut its final dividend after reporting an 8.4% fall in full-year profit to $US312.4 million ($A472.7 million). Directors largely blamed the fall in global energy prices, especially LNG towards the end of the year.
Read MoreAfter being the first listed company to issue a warning about the impact of the bushfires on its business in December and January, fashion retailer Mosaic Brands has gone further and postponed its interim dividend until it has a better idea of how the impact of the coronavirus on the company in coming months
Read MoreNo regrets about a weak interim result and lower earnings and dividend from vitamins and well-being group Blackmores.
Read MoreWhen a company is under pressure, as Treasury Wine Estates has been since a shock earnings downgrade in January, trouble seems to follow.
Read MoreMarkets from Italy, Australia, the US, and South Korea have plunged in one of the most concerted selling waves seen since late 2018 as previously complacent investors finally awoke to the dangers posed by the coronavirus crisis.
Read MoreWarren Buffett has taken aim at corporate boards, calling for companies to make directors more independent and involved in the affairs of the company they oversee.
Read MoreThe rapid spread of the coronavirus (COVID-19) in South Korea and Italy triggered a sell-off across Asian markets yesterday.
Read MoreReliance Worldwide’s share price plunged by more than a quarter after it downgraded its full-year guidance off the back of a near 24% slide in first-half profit.
Read MoreA rare event this reporting season for one lot of shareholders in the shape of a big rise in interim dividend. Worley doubled its interim dividend to an unfranked 25 cents a share.
Read MoreBluescope Steel confirmed yesterday its lowered guidance for the December half and for 2019-20 while also warning that its China operations are likely to be “heavily impacted” by disruptions stemming from the coronavirus in February and March.
Read MoreAir New Zealand has joined Qantas in cutting capacity to Asia and across the Tasman to counter the impact of the coronavirus, COVID-19 on the airline and it’s estimated as $NZ75 million ($A72 million) cost.
Read More89-year-old Buffett has used his annual letter to Berkshire shareholders to reassure them they should not be concerned about the future of the company, which is “100% prepared” for when he and 96-year-old Vice Chairman Charlie Munger are no longer around.
Read MoreNews on the Covid-19 outbreak will continue to dominate in the coming week, especially with China due to release its first survey of manufacturing activity for February on Saturday.
Read MoreA weak start for the ASX today after wall Street and other global markers sold off on Friday. The Australian dollar fell to under 66 US cents at one point to its lowest in over ten years (65.86) on fears of a big hit to Australian exports from the coronavirus, increased talk of RBA rate cuts and concerns about the US economy and a dollar that strengthened.
Read MoreBrazilian mining giant, Vale can thank the surge 2019’s global iron ore prices it helped generate through a mine dam wall collapse at one of its iron ore mines 13 months ago for posting what turned out to be a solid financial result for the financial year to December.
Read MoreBerkshire underperformed the market in 2019, rising by just under 11%, compared with a 31.5% total return in the S&P 500, including dividends. That was Berkshire’s biggest underperformance since 2009.
Read MoreThe Australian December half and full-year earnings reporting season wraps up this week around 40 major companies due to report. Leading the way will be the 12-month figures from Rio Tinto.
Read MoreDespite a bout of weakness on Friday, gold, copper, oil and iron ore all rose solidly last week, with minor metals like palladium again having a record-setting week.
Read MoreNSW steaming coal miner and exporter, Whitehaven has slashed it’s interim dividend, triggering a sell-off in the shares to levels not seen since 2016 after reporting a very weak interim result.
Read MoreSuper Retail Group has become the third major retailer to announce staff underpayments this week, revealing on Thursday it has underpaid store managers and team members by $12.6 million more than it originally estimated.
Read MoreIluka plans to spin off its iron ore royalty stream in a deal that could see over $1 billion in extra value created for shareholders, as well as a continuing smaller stake in the flow of cash.
Read MoreStaff and shareholders will not be impacted by the capacity cuts Qantas announced yesterday caused by the continuing COVID-19 crisis in China and other parts of Asia.
Read MoreOn top of the injection of billions of yuan in liquidity into money markets that have supported both share and bond markets, China’s central bank has now cut key interest rates to try and support the economy hit by the COVID-19 virus.
Read MoreOrigin Energy’s interim profit took a number of blows from outages across its businesses in the six months to December – some own goals, others beyond its control.
Read MoreWesfarmers shares rose more than 3% yesterday after it reported a moderately encouraging first half result, marred by an underpayments scandal to some staff.
Read MoreAs forecast by the Reserve Bank earlier this month, wage growth remained sluggish in the December quarter, rising by just 0.5% or an annual 2.2% thanks to a fall in growth in public service pay.
Read MoreUnlike rivals NAB and the Commonwealth with their (in the market’s view) – solid result and update last week, we saw a very different story from Westpac which has issued what amounted to a warning of a looming earnings downgrade.
Read MoreAs expected after its solid December half production and sales report late last month, Fortescue Metals Group rode the boom in iron ore prices very nicely to more than triple its half-year profit and in doing so, topped market forecasts.
Read MoreReality for the ASX’s boom tech stocks with leaders WiseTech and Nearmap seeing their shares sold off after bad news was revealed to investors.
Read MoreRetailing conglomerate Wesfarmers has joined Woolworths, Super Auto and Coles (which used to be a part of the conglomerate) in revealing a multi-million dollar underpayment to staff.
Read MoreThe high iron ore prices in the final half of 2019 saw BHP’s profit soar nearly 40% on the back of the boom in the price of steelmaking commodity, pushing interim dividend to a record 65 US cents a share from 55 cents paid previously.
Read MoreHearing aid group, Cochlear lifted dividend for the six months to December by 3% after revealing a lacklustre performance in the period.
Read MoreShares in Perth-based engineering company, Monadelphous Group Ltd rose more than 5% yesterday despite the company cutting interim dividend by 12% for the half-year to the end of December.
Read MoreAs Coles Group forecast earlier this month, the country’s second supermarket chain turned in a solid result for the first half of 2019-20.
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