Australia Financial News

26.07 / 15:23

COST UPS Provident CEO RIO Rio Tinto’s takes $1.2b hit on Labor’s carbon plan

Rio Tinto has wiped $1.22 billion off the value of its Australian alumina refineries to account for the cost of the Albanese government’s new carbon policy as lower commodity prices drove a 43 per cent slump in half-year earnings.

26.07 / 15:23

UPS Chase Aon TA Associates runs auction for Honan Insurance; Steadfast, PSC look

TA Associates has quietly taken bids for its 80 per cent stake in Australia and New Zealand insurance broking roll-up Honan Insurance.

26.07 / 15:23

UPS Provident Target Waters awards voice social Protest vote over ALS’s $1.48m exec retention pay

ALS has suffered a first strike against its pay practices, despite the chairman saying the laboratory testing giant had been placed in a “ridiculous situation” around remuneration disclosure laws that compelled it to pay nearly $1.5 million in retention bonuses.

26.07 / 15:23

COST UPS NEM show Power Solar Power prices rise 31pc despite wind and solar glut

Power prices surged to their second-highest March quarter in 18 years, despite a glut of solar and wind production that sent prices into the negative during the middle of the day, according to a new report.

26.07 / 14:47

People moves Jupiter asset management Australian Former Jupiter and Janus Henderson CEO Andrew Formica resurfaces at Australian fund house

Andrew Formica (pictured), retired as CEO of Jupiter Asset Management last year.

26.07 / 14:41

UPS Art Man Williams Southern country Inside British billionaire Joe Lewis charged in the U.S. with insider trading

Joe Lewis, the billionaire real estate investor and owner of Tottenham Hotspur football club, has been charged over multiple alleged instances of insider trading, United States prosecutors said on July 25.

26.07 / 14:35

business Technology regulation data Meta Meta Platforms fined $14 million for Onavo privacy issues: Report

An Australian court has reportedly ordered Meta Platforms, the owner of Facebook, to pay fines amounting to 20 million Australian dollars ($14 million) for collecting user data through a smartphone application, Onavo.

26.07 / 14:14

Provident Microsoft PayPal Xbox Microsoft to integrate PayPal's Pay Later solution

Microsoft (NASDAQ:MSFT) has deepened its relationship with PayPal (NASDAQ:PYPL), the company announced Wednesday, with the integration of PayPal's Pay Later solution in the U.S., UK, Australia, France, Germany, Italy, and Spain.

26.07 / 11:29

UPS Southern country Inside Federal prosecutors charge billionaire with insider trading

British billionaire Joe Lewis, the owner of the Tottenham Hotspur soccer club in London, has been charged with insider trading in the US.

26.07 / 11:25

Merck Moderna Moderna/Merck begin late-stage study of mRNA cancer vaccine

(Reuters) — Moderna (NASDAQ:MRNA) and drugmaker Merck have started a late-stage study to evaluate their experimental mRNA-based cancer vaccine in combination with cancer therapy Keytruda, the companies said on Wednesday.

26.07 / 10:31

Provident FIVE country Al Jazeera condemns Egypt's decision to add some of its journalists to a terrorism blacklist

The pan-Arab news network Al Jazeera has condemned a recent decision by Egyptian authorities to brand some of its journalists as terrorists

26.07 / 08:43

Career Matthews Australia's David Warner laughs off early retirement talks

Australia opener David Warner has dismissed suggestions he and Steve Smith are going to quit test cricket after the final Ashes contest against England beginning at the Oval on Thursday.Warner has expressed his desire to play his last test in Sydney against Pakistan in January next year though he wants to play on until the 2024 Twenty20 World Cup. Australia have already retained the Ashes urn taking a 2-1 lead heading into the final test, and former England captain Michael Vaughan is among those who believe the duo could exit after the match at the Oval. Warner, talking to reporters on the eve of the match, called it a «joke».

26.07 / 08:31

COST Provident country Qld battery to be upsized as storage investments soar

French renewables and storage developer Neoen has decided to increase the size of its large battery under construction in Queensland by 35 per cent in a further sign of the surge of investment in capacity that supports the push to weather-dependent wind and solar.

26.07 / 08:31

Manufacturing Strategy Barrett show Early votes at Bubs indicate spill at infant formula maker to fail

The long-running dispute between the current and former management of Bubs Australia is coming to an end with early voting indicating a proposal from dissident investors to spill the board of the infant formula manufacturer does not have the support of most shareholders.

26.07 / 08:31

COST Provident Waves awards Corporate Travel rides wave of UK contract to keep earnings afloat

The United Kingdom’s asylum seeker crisis has kept buoyant Corporate Travel Management’s earnings, as the travel agent banked “significantly larger” revenue from its European division to offset weakness back home.

26.07 / 08:21

UPS Action Australia's Pacific Current receives $388 million buyout offer form Regal Partners

(Reuters) — Australia's Pacific Current Group received a non-binding buyout proposal from Regal Partners Ltd, which values the asset manager at A$573.5 million ($388.1 million), the companies said on Wednesday.

26.07 / 07:35

FIVE RIO dividend Rio Tinto’s profit and dividend miss estimates

Rio Tinto’s half-year profit has slumped 34 per cent following weaker commodity prices, and the $US5.7 billion ($8.4 billion) underlying profit and $US1.77 per share interim dividend have fallen short of analyst expectations.

26.07 / 07:35

COST UPS Fighting performer Inside Commonwealth Bank to cut around 250 jobs

Commonwealth Bank has told staff it is cutting an estimated 251 jobs across its IT, business bank and retail bank in an effort to reduce costs.

26.07 / 07:35

Provident Strategy Executive Bupa names new local chief executive

Nick Stone has been named head of Bupa Asia Pacific, succeeding long-serving chief executive Hisham El-Ansary who stepped down last year after 15 years with the healthcare group.

26.07 / 06:51

RIO Rio Tinto's first-half profit falls 34% on easing iron ore prices

(Reuters) — Rio Tinto (NYSE:RIO) reported a near 34% drop in first-half underlying earnings and slashed its interim dividend on Wednesday, as easing iron ore prices offset an uptick in shipments from Pilbara operations.

26.07 / 06:25

Twitter CEO Tesla film show performer social Time elon ‘Every time Barbie says patriarchy’: Elon Musk slams Greta Gerwig's film

Elon Musk slammed Greta Gerwig's enchanting Barbie film and said that every time Barbie says the word ‘patriarchy’. In a tweet, the Tesla CEO wrote, "If you take a shot every time Barbie says the word ‘patriarchy’, you will pass out before the movie ends." Musk's tweet came in response to a Barbenheimer meme that compared Twitter to Barbie and his new X name for his social network to Oppenheimer. Barbie has performed remarkably well in its Top 10 markets, with North America leading the pack at $162 million.

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