Chinese electric vehicle (EV) giant, BYD, announced a remarkable 207% increase in earnings during the first half of this year, propelled by record-breaking production and sales figures. The company’s dominance in the new energy vehicle (NEV) market, including batteries and plug-in electrified vehicles, further solidified its status as China’s leading auto brand. This news holds […]
BYD reports 207% surge in first half earnings Read More »
Embattled casino group, Star Entertainment (ASX:SGR), has posted a staggering loss of $2.4 billion for the fiscal year ending on June 30, primarily due to substantial write-downs in the value of its casinos exceeding $2 billion. The company informed the ASX that it had devalued The Star Sydney, The Star Gold Coast, and Treasury Brisbane
Star Entertainment reports $2.4 billion loss amid casino value write-downs Read More »
Stocks rose Monday to kick off the final trading week of August, with Wall Street looking to regain ground amid a month of losses. The Dow Jones Industrial Average gained 213.08 points, or 0.62 per cent, to close at 34,559.98. The S&P 500 climbed 0.63 per cent to 4,433.31, and the Nasdaq Composite advanced 0.84
Wall St aims to recover as stocks rise to start final Aug trading week Read More »
The lack of an explanation for the surprise departure of Fiona Hick, Fortescue Metal’s iron ore CEO, overshadowed the annual results from the world’s number four iron ore group yesterday and saw $3 billion wiped off the company’s value at one stage. Ms. Hick resigned after less than six months in the role and there
Sudden departure of Fortescue’s iron ore CEO triggers speculation Read More »
Ramelius Resources (ASX:RMS), amidst a robust performance in the fiscal year 2022-23 despite industry-wide cost pressures, has increased its annual dividend to 2 cents per share. The move is expected to attract more acceptances from shareholders in Musgrave Minerals, the subject of a takeover bid by Ramelius. The Western Australia-focused mining company extracted approximately 241,000
Ramelius Resources doubles annual dividend Read More »
Appen’s (ASX:APX) shares experienced a significant 29% drop until 1pm yesterday as the company unveiled a set of interim results marked by substantial losses and declining growth, triggering investor concern. Facing an impending six-month period of challenges and limited gains, the company foresees further cost reductions and potential job cuts to counteract the ongoing revenue
Appen plunges 29% following bleak interim results Read More »
Retail sales in the 2023-24 fiscal year commenced on a robust note, with sales showing a seasonally adjusted increase of 0.5%, as revealed by preliminary data from the Australian Bureau of Statistics on Monday. This surge followed a significant 0.8% decline in June, which had come on the heels of a sales-induced rise of 0.8%
Strong start for retail sales in 2023-24 Read More »
The Australian dollar rebounded from a nine-month low on Monday, climbing to US64.27¢. This rise followed a week of flat performance, breaking a streak of five consecutive weeks of losses. The currency had previously hit its low point of US63.63¢ in mid-August due to China’s weakening economic prospects and the interest rate gap between the
ASX closes 0.63% higher as AUD moves higher Read More »
In July, there was a 0.5 percent increase in Australian retail sales, surpassing the anticipated 0.3 percent rise and recovering from an unexpected decline the previous month. This growth in July contrasts with a 0.8 percent decrease in June 2023 and a corresponding 0.8 percent expansion in May 2023. Ben Dorber, the ABS head of
ASX up 0.63% at noon: Retail sales increase 0.5% in July Read More »
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses developments in investment markets over the past week, economic activity trackers, major global economic events and Australian economic events. Investment markets and key developments over the past week After three weeks of falls, global share markets managed
