Australia Financial News

02.08 / 09:47

UPS Target MET Digital Strategy PwC PwC breakaway unit Scyne appoints interim chief

Scyne Advisory has appointed former PwC partner Richard Gwilym as its interim chief executive as the breakaway firm continues pitching its new approach to public sector consulting to wary federal and state government departments.

02.08 / 09:47

Booking show Backed Soul Patts, Waislitz-backed medtech ponders capital raise

An Australian medtech start-up with plans to launch its surgical products in the United States has come across fund managers’ radars.

02.08 / 09:47

UPS Provident Waves FIVE Swiss Swiss coal miner Glencore warns NSW against ‘revenue grab’

Glencore, one of the largest coal miners in NSW, is urging the state not to hike coal mining levies in a “revenue grab”, as the Minns government mulls following Queensland’s lead on higher coal royalties.

02.08 / 09:47

COST UPS Provident BLOCK Patrick Brookfield Brookfield preps sale of Asciano bulk transport spin-off; Azure hired

Brookfield is testing buyer appetite for Australia and New Zealand logistics business Linx Cargo Care Group, seven years after it birthed the business out of Asciano’s $9 billion take-private.

02.08 / 09:47

Provident MET Williams Manufacturing Seafolly sold to mysterious Asian buyer by private equity parent

Homegrown swimwear brand Seafolly has been sold by its private equity owner, US retail specialist L Catterton, to an Asian strategic buyer in a deal valuing the famous label at about $70 million.

02.08 / 09:47

COST UPS Provident show country Carlyle Platinum Equity stalks Carlyle Group’s Accolade Wines

As Australia’s second-largest wine group and its advisers bunker down on what’s expected to be a protracted recapitalisation process, Street Talk understands American buyout group Platinum Equity is getting its ducks in a row.

02.08 / 08:17

UPS BAY UBS Sanjeev Gupta pays last instalment on Whyalla steelworks lifeline loan

The Whyalla steelworks and other parts of Sanjeev Gupta’s Australian operations have been freed from the control of lenders almost two years after the British businessman faced losing the assets in the collapse of Greensill Capital.

02.08 / 08:17

FIVE Progressive Waters CEO Action Omni Investors question delays in RCR Tomlinson lawsuit

A class action against collapsed engineering group RCR Tomlinson will make a second attempt at mediation this month as investors question why the lawsuit has taken almost five years to resolve.

02.08 / 08:17

UPS Waters Manufacturing CEO Tesla NMC Pilbara pioneers a new lithium product for a new battery boom

When Mario Silvera steers his Chinese-made electric vehicle around the streets of Sydney, he is driving the consumer trend that has inspired two Australian companies to invest $104.9 million on the creation of a homegrown, value-added lithium product.

02.08 / 07:09

Target FIVE Progressive Pool shootings audience Brett Connected TV set to make advertising more targeted: Finecast’s Brett Poole

New Delhi: The rise of connected television sets in India is all set to make advertising more targeted with new and small brands being able to address just the audience they wish to said Brett Poole, chief executive officer, APAC (Asia Pacific region) and AUNZ (Australia, New Zealand) at Finecast, a GroupM-owned addressable TV company that helps advertisers personalize and target ads on linear and on-demand TV. “We’re seeing huge growth in CTV in India, from 25 million last year, to 32 million this year and estimated to reach 40-45 million by 2025.

02.08 / 04:51

Citi Target CEO Action film ‘What’s the obsession?‘: Cook denounces ‘extremist’ Woodside protest

Western Australian Premier Roger Cook has denounced “extremist” protesters who descended on the home of Woodside chief Meg O’Neill and mounted a spirited defence of the natural gas industry, which he said was essential to the state’s energy transition.

02.08 / 04:43

UPS Southern country Premium India should exclude premium rice variety from export ban -trade body

non-basmati rice variety favoured by overseas Indians, which are struggling to secure staple after New Delhi banned the exports, a leading trade body requested the government. The world's biggest exporter of rice surprised buyers last month by imposing a ban on exports of non-basmati white rice after retail rice prices climbed 3% in a month after late but heavy monsoon rains caused significant damage to crops.

02.08 / 04:05

Provident CEO Software Haynes show performer social What Cameron Clyne is doing now (it involves AI and bad bank culture)

Former National Australia Bank chief executive Cameron Clyne has re-emerged in the banking sector, investing in and advising a start-up, Swarm Dynamics. It makes artificial intelligence-powered software to help banks identify and resolve their cultural problems.

02.08 / 03:21

COST UPS Booking Airlines guidance Helloworld joins the travel sector in upgrading guidance

Helloworld, one of the country’s largest travel agencies, says it is operating profitably again across all of its markets after upgrading guidance as spending on tourism rises.

02.08 / 03:05

Manufacturing CEO Enterprise Incitec Pivot picks Indonesian SOE for fertiliser sale talks

Incitec Pivot has tapped Indonesia’s Pupuk Kaltim as the preferred buyer of its big Australian fertilisers business, fuelling expectations of a deal worth about $1.5 billion and a potential showdown with politicians and farmers.

02.08 / 02:57

Lowe's MET Manufacturing Fitch show country Dollar shaky after US credit rating downgrade

dollar struggled to make headway on Wednesday after a cut on the U.S. government's top credit rating by Fitch raised questions about the country's fiscal outlook, though it drew some support from a relatively resilient run of economic data. Rating agency Fitch on Tuesday downgraded the United States to AA+ from AAA in a move that drew an angry response from the White House and surprised investors, coming despite the resolution two months ago of the debt ceiling crisis.

02.08 / 02:57

UPS Fitch Nikkei show fall Asian stocks Asian Stocks fall, Treasuries gain after Fitch downgrades US rating

Asian stocks traded lower while U.S. Treasury yields declined on Wednesday, after ratings agency Fitch unexpectedly downgraded the United States' top-tier sovereign credit rating.MSCI's broadest index of Asia-Pacific shares fell 0.5%. Japan's Nikkei slid by 1.2%, while Australian shares edged down 0.5%.

02.08 / 02:39

NASDAQ DOW NIFTY VIX GIFT Nifty down 25 points; here's what changed for market while you were sleeping

Overall, we expect the market to consolidate in a range with a positive bias as we move further into the earning season," said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded 23 points, or 0.12 per cent, lower at 19,779, signaling that Dalal Street was headed for negative start on Wednesday.

02.08 / 01:59

NASDAQ Manufacturing NIFTY Fitch Nikkei KOSPI Indian Gift Nifty, global markets to US credit rating downgrade - key triggers for Indian stock market today

Read here: Fitch cuts US credit rating to AA after debt limit standoffs Meanwhile, a report from the Institute for Supply Management said that in July manufacturing contracted at a slightly worse pace than economists expected, but not as badly as it did in June. A separate report from S&P Global also said US manufacturing is continuing to decline. In Japan, the Nikkei 225 declined 1.48%, while the Topix fell 1.11%.

02.08 / 01:31

UPS Provident Racing Pool ANZ country Lost NOT All is not lost: ANZ says Australia can still win hydrogen race

Australia’s ambitions to develop a green hydrogen industry have suffered only a temporary setback from the US Inflation Reduction Act, and enjoy positive prospects at the hands of state and federal policies, funding support, and demand from key Asian trading partners.

02.08 / 01:31

Target Entertainment performer Future Future Fund promotes Ben Samild as new CIO

The $202 billion Future Fund has appointed Ben Samild as its new chief investment officer – ending a year-long period in which chief executive Raphael Arndt held the dual role.

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