NAB Cuts Dividend As Cash Earnings Slip 10.6%
As expected the NAB has followed its rivals in Westpac and the ANZ in cutting returns to shareholders after a slide in earnings and revenue for the year to September 30.
Read MoreAs expected the NAB has followed its rivals in Westpac and the ANZ in cutting returns to shareholders after a slide in earnings and revenue for the year to September 30.
Read MoreOops, where did that come from?
Read MoreShopping mall landlord Vicinity Centres has continued to get rid of unwanted shopping centres as it looks to polish its portfolio amid the continuing retail malaise.
Read MoreAs expected the weaker housing market in Australia has hit Boral with a forecast 5% fall in 2019-20 first-half earnings to about $461 million revealed yesterday.
Read MoreThe $2 billion discounted raising by Westpac has ended up being a good result for the bank.
Read MoreA surge in investment in gold-backed ETFs offset a decline in purchases of jewellery, bars, and coins to push global gold demand slightly higher in the third quarter, according to the World Gold Council’s latest quarterly demand report.
Read MoreChina has made a small but significant trim to a key interest rate ahead of the release of the October economic data starting on Friday.
Read MoreNo rate cut from the Reserve Bank, but there was an admission that we face more than two more years of ultra low interest rates, and possibly a third because the central bank has downgraded its inflation outlook again.
Read MoreSo much for all the hot air from the Federal government, some economists and even the Reserve Bank – that so-called $1,080 tax refund has turned out to be a fizzer and failed to boost retail sales in the September quarter.
Read MoreNAB shares slid yesterday in the wake of Westpac’s surprise $2.5 billion capital raising and dividend cut as investors said the Melbourne-based lender would be the next major to cut its payout or even approach shareholders for more money.
Read MorePanoramic Resources shares jumped more than 34% at one stage yesterday after it revealed a $312 million all paper takeover offer from Independence Group.
Read MoreWoolworths has started the complicated three-part merge and de-merge of its Endeavour Drinks business with the issuing of an explanatory booklet for the first stage to shareholders yesterday.
Read MoreWestpac shares went into a two-day trading halt before the ASX opened on Monday morning to allow it to make a surprise capital raising of around $2.5 billion to big shareholders.
Read MoreNo rate cut from the Reserve Bank at its November meeting tomorrow, but many analysts and economists believe one will come in December, and if not then, at the February meeting in 2020 (the first for next year).
Read MoreFor the week the S&P 500 rose 1.47% to a new record high, the Dow rose 1.44% and the Nasdaq rose 1.74%.
Read MoreBrazilian iron ore exports are still lagging behind 2018’s levels as the big exporter and miner, Vale struggles to recover from the January 25 mine dam wall collapse, according to export data for October.
Read MoreThe solid US jobs report for October, the Fed’s sit and watch stance and more reasonable third-quarter earnings reports helped markets settle higher last week – with oil leading the day on Friday and over the five days.
Read MoreMedia and entertainment groups dominate the coming week with their September quarterly reports as the US reporting season starts to wind down.
Read MoreThe coming week could see a possible deal between the US and China over their trade war, better news about the US economy and will the Reserve Bank cut rates at its November meeting tomorrow.
Read MoreWarren Buffett’s Berkshire Hathaway saw its quarterly operating profit rise a solid 14% as it ended the three months to September with an even larger pile of cash that it hasn’t been able to use.
Read MoreA “positive” outlook for ”2020 and beyond” from explosives and mining services Group Orica after it revealed a 15% rise in full-year profit for the 12 months to September 30.
Read MoreThe Macquarie Group money-making machine seems to be losing momentum, judging by the 2019-20 interim result and weak forecast released on Friday (November 1).
Read MoreA small loss for October of 0.4% for the ASX 200 while other major indexes logged monthly gains with the S&P 500 posting a 2% rise, the Dow up half a percent and the Nasdaq Composite jumping 3.7%.
Read MoreANZ’s move to partially frank its final dividend has sent ripples across the financial sector and triggered fears that Westpac on Monday and the NAB in a week’s time, will follow suit.
Read MoreTwo surveys of economic activity in China’s huge manufacturing and services sectors showed a worrying cooling in October.
Read MoreWhile the building approvals data for September showed a tiny bit of ‘light’ for worried policymakers with signs of a steadying of approval levels for apartments, units etc (albeit at low levels) and a small pick up in approvals for private homes, the credit data for the same month from the Reserve Bank was bad.
Read MoreAustralian dwelling approvals rose sharply in September in seasonally adjusted terms (which are still misleading) thanks to a big rise in approvals for apartments, units, and townhouses – the most volatile part of the statistics and one prone to rapid swings and revisions.
Read MoreApple seems to be going ex-iPhone without too much of a fuss from the market, or so it seems from its September quarter results, the final for its 2018-19 financial year.
Read MoreThe ANZ bank is maintaining final dividend at 80 cents a share after a weak full-year profit.
Read MoreWhile there was certainty that the third rate cut this year would happen at the November meeting of the Fed’s Open Market Committee – which it did, down 0.25% – there was also a sneaking suspicion that any reduction could be the last for a while.
Read MoreSupermarket giant and one of Australia’s largest employers Woolworths has underpaid nearly 6,000 of its employees close to $300 million dollars due to non-compliance with the industry award over the past decade.
Read MoreAbsolutely nothing for interest rates and the Reserve Bank in yesterday’s September quarter consumer price index except to confirm that inflation is not a concern and if anything is a bit softer than the central bank reckons.
Read MoreThe reaction was to be expected but yesterday’s sell-off in shares of troubled horticulture group, Costa probably went a bit better than feared by the company and its supporters.
Read MoreColes shares rebounded yesterday after its first-quarter sales performance was better than expected by analysts.
Read MoreCosta Group has again cut its earnings forecasts and revealed a $176 million issue to save the company from being crippled by rising debt, poor trading conditions, drought, high water costs and weak pricing for its fruit and vegetables.
Read MoreShares in forestry company Midway plunged 21% yesterday to an all-time low of $1.81 after it issued a sharp earnings downgrade at its annual general meeting.
Read MoreBega Cheese is the latest business to issue a profit warning regarding its 2020 earnings, saying its performance would be affected by what it called “unprecedented” competition among processors for milk and softer demand for exports.
Read MoreRatings group Fitch has reaffirmed Australia’s AAA credit rating and believes that while growth is slowing, the Reserve Bank won’t have to resort to extraordinary monetary policy measures such as quantitative easing that has occurred in Japan, the UK, EU, and the US.
Read MoreWill we see more customer remediation costs on the way for Westpac after a loss in the Federal Court that saw the bank severely criticised and its actions taken to task by the three judges sitting on the appeal?
Read MoreDidn’t see this one coming.
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