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Standard Chartered faces $1.6 billion loss due to China exposure

Pan-Asian bank Standard Chartered has revealed significant financial damage due to exposure to Chinese banks and the slumping property sector. On Thursday, the London-based Asian operating bank witnessed a 17% collapse in its shares on the London Stock Exchange, prompting a trading limit to be imposed. This drop followed the announcement of a nearly $US1 billion (almost $A1.6 billion) loss stemming from its exposure to China's real estate and banking sectors in the September quarter.

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Nasdaq correction leaves Wall Street adrift

Nasdaq slid into correction territory, leaving Wall Street in uncertainty. Meta Platforms may have initially reported stronger-than-expected quarterly results on Wednesday, but by the end of the extended trading session, a 4% gain had dwindled to just 2.6%. Despite its robust quarterly performance catching the attention of traders and analysts, the after-hours bounce couldn't compensate for the 4% decline during regular trading hours.

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Whitehaven Coal faces scrutiny over US$4.1 billion deal amid shareholder dispute

Whitehaven Coal (ASX:WHC) is holding its annual meeting in Sydney today, with the focus on its multi-billion-dollar deal to purchase two aging Queensland coking coal mines from BHP and Mitsubishi. Shareholders are expected to question the board about the $US4.1 billion deal, which has faced opposition from London-based activist shareholder Bell Rock Capital.

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$4 billion ‘gold’ boost for Australian miners and exporters in renewable minerals

The Federal Government has added an additional $2 billion in subsidies, creating a $4 billion fund for Australian miners and exporters of critical renewable minerals, particularly battery materials. This fund will support both large and small miners, as well as those developing specialized devices for renewable technologies.

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