Bada Bing, Bada Boom: Our top business yarns for 2024
We’ve had some big yarns this year, from energy to the retail sector, namely Woolworths and Coles. And of course pensions and tax, plus the latest mishaps and shenanigans at the ABC.
We’ve had some big yarns this year, from energy to the retail sector, namely Woolworths and Coles. And of course pensions and tax, plus the latest mishaps and shenanigans at the ABC.
The sharemarket closed 1.7 per cent higher, with gains across the board, led by the heavyweight financial sector. News Corp found strong support after its mega $3.4bn Foxtel deal.
The Reserve Bank has kept rates on hold, which was expected, as ‘underlying inflation’ remains too high. Domino’s shares tank as CEO departs. No government tenders for PwC until mid-2025. LIC spikes on HMC interest.
The ASX hits a four-week low before rebounding. Gains in tech, consumer discretionary, property and financial stocks are offset by falls elsewhere. Investors pile into Mineral Resources after Rinehart’s $1.13bn deal. JB Hi-Fi, Wesfarmers and Coles rise on positive updates.
The S&P/ASX 200 index closed down 0.8 per cent at 8180.4 points after hitting a three-week low after disappointing inflation figures and a profit warning from Woolworths. Annual headline inflation drops to 2.8 per cent. Trimmed mean CPI of 3.5 per cent meets estimates. CBA scraps call for RBA rate cut in December.
The local sharemarket rose slightly, led by property and tech stocks. Qantas and Premier Investments hit records. Myer spikes up after $864m apparel brands deal with Premier as Solomon Lew scores a board seat.
The sharemarket was flat on light volumes as investors awaited key inflation data. Mosaic Brands enters receivership with KPMG appointed. ASX Limited hit by first strike against remuneration report.
RBA governor says higher rates not off the table. Data centre operator NextDC’s top gainer after AirTrunk sale. Coronado dives on guidance. Downgrades add to oil price woes for ex-div Woodside and Santos. Apollo selldown hit for Challenger.
WATCH LIVE: Westpac CEO Peter King speaking during parliamentary Q&A. CBA boss vows to continue lending to gas projects. Ellison’s fortunes hit in MinRes dive. Qantas, South32 flag buybacks as profits fall. Cettire down on profit slump.
BHP cuts dividend after profit fall. Coles earnings beat estimates. Woodside to walk ‘growth funding tightrope’. Guzman Y Gomez gains after profit beat. Johns Lyng dives on revenue miss. Lovisa trading update disappoints. CBA chief economist steps down.
Original URL: https://www.theaustralian.com.au/author/lilly-vitorovich