United Malt shares tumble on profit warning
Just as United Malt was seeing some light at the end of the tunnel as people returned to bars and clubs, a poor barley crop will flatten its annual profit.
Companies
How this top investor defied market shock
This fund manager delivered some of Australia’s highest share returns by sticking to some basic rules.
Coughing up for Covid-19
The company developing a smartphone app that tests for Covid is rapidly burning through its cash reserves. But investors seem reluctant to sell the business to Big Pharma.
How Telstra learnt to listen, not just hear
When Telstra agreed to pay a $50m fine for rorting vulnerable Indigenous people, it was a dark hour for the telco but also an opportunity to change.
Bad news for Guardian as profits slump
The left-wing publication’s profit dived 80 per cent in the past financial year.
Aussie tech must ride the storm: Paul Bassat
Paul Bassat’s Square Peg has just slashed Canva’s value. Now he says tech founders must relatively quickly find a way to continue to grow.
Sezzle reports better income as it cuts costs, merchants
The buy now, pay later operator has seen a surge in its stock price after a difficult year. It says it is still working on slashing expenses.
Origin gas boost as revenues double
The power giant cashed in on strong gas prices and secured half of its coal supply for 2023
Star’s Queen’s Wharf hit by more delays, cost overruns
The $2.8bn Star resort project at Queens Wharf will now open as much as 12 months or more behind its original timeline, after falling foul of the impacts of the Covid-19 pandemic and Queensland’s wild weather.
Battle for control of 1414 Degrees meets awkward end
A hard-fought battle for control of renewables firm 1414 Degrees has ended with the warring parties now finding themselves boardroom colleagues.
Blackstone nabs Ian Silk to chair Crown Melbourne
Crown Melbourne has appointed the former guardian of Australia’s biggest pot of retirement savings, Ian Silk, to oversee the turnaround of its flagship casino.
IFM shuts the gates on Atlas Arteria takeover
IFM Investors has walked away from takeover discussions after the toll road operator refused access to more financial documents.
Tech market’s sell-off was too harsh, says SAP boss
The ‘harsh’ technology stock sell-off is likely to self correct soon, predicts the global tech boss of one of Europe’s largest tech companies, SAP.
Westpac’s big step out of its own shadow
Upping the stakes in green lending while breathing new life into digital banking marks a significant moment for the major bank.
Magnis in attempt to strongarm online trading forum
Magnis Energy is attempting to force trading forum HotCopper to hand over the real names of users making negative comments about the company.
Bunnings merch restructure to prep for post-Covid growth
The hardware giant has overhauled its merchandising and held the first mass-meeting of suppliers since Covid-19.
Food, grocery inflation burn to stay for months
Food and grocery manufacturers are approaching supermarkets for a third time to ask for price hikes to cover costs and consumers are in for at least 18 months of pain.
No quick fix: Lessons from Cairns’ Woolworths rescue
The former brewing boss found a business bleeding cash, lacking a coherent strategy and a dysfunctional board.
Buckle up: Big week starts Wednesday
Inflation data, a US rates decision, and our own Treasurer’s economic statement means it’s going to be a big week.
Ship banned after fuel tanker chaos
A ship which brought $71m in fuel to Australia for Viva Energy has been banned from the country’s waters for six months following mistreatment and non-payment.
Wesfarmers’ $764m API takeover gives pharmacists a shot in the arm
Confidence among community pharmacists has surged to a 10-year high as the industry undergoes a major shake-up, including Wesfarmers’s foray into the market.
Melbourne apartment developer collapses
Parts of prominent Asian-backed developer Caydon, which has built hundreds of apartments across Melbourne, goes into liquidation.
Aussie wine sales to China collapse
China, once a goldmine for Australian winemakers worth more than $1bn a year, has been crushed to become just a tiddler $25m market.
Tabcorp eyed gaming services sale
The wagering giant is understood to have considered offers to sell all or part of its Intecq business, acquired for $128m eight years ago, as part of a plan to streamline operations.
Palaszczuk tax deal saves Tabcorp $30m
Gambling giant Tabcorp agreed to end a drawn-out lawsuit with Racing Queensland for $150m, provided the state government altered its tax law to the company’s benefit.
Pot luck: medicinal cannabis group Cronos shares soar
Shares in medicinal cannabis outfit Cronos surge, despite the company not growing a gram of the leafy stuff. The CEO reveals its recipe for success.
Genex surges on $300m takeover bid
Genex shares have surged after receiving a $300m takeover offer from a consortium headed up by the wife of Atlassian billionaire Scott Farquhar.
Profits, dividends surge at Korvest
Industrial products manufacturer Korvest has boosted profit by almost 90 cent, with shareholders enjoying a rich benefit.
Return to working from home sparks cyber attack warning
Thousands of Australians are working from home again, unwittingly putting their employers at risk of a cyber attack, says the company charged with protecting the phones of US troops.
Crown to open Barangaroo gaming floor on August 8
The gaming giant, which recently cut ties with James Packer, taps into China’s lucky day with plans to finally open its gaming floor at its new $2.2bn casino in Barangaroo on August 8.
Original URL: https://www.theaustralian.com.au/business/companies/page/197