Companies Mining Earnings season Fortescue Metals Boss Fiona Hick Departs Amidst Turbulent Period Fortescue Metals, the iron ore giant chaired by billionaire Andrew Forrest, has experienced yet another senior management exit as Fiona Hick, the company’s chief executive, announced her departure just six months after assuming the role. This marks the 10th senior executive to […]
Qantas’ Huge Profit Raises Questions about Profitability in Australia’s Industry Sectors The recent announcement of Qantas’ record $2.5 billion underlying profit before tax has sparked a debate about the “right” level of profitability in Australia’s concentrated industry sectors. While the size of the profit is impressive, it is important to understand why Qantas has been […]
Woolworths‘ Profit Surge Raises Thorny Questions Woolworths, the Australian supermarket giant, has seen a significant jump in profits, with the supermarkets division experiencing a surge of nearly 20%. While this may seem like positive news for the company, it also raises some thorny questions. Brad Banducci, the CEO of Woolworths, insists that the balance between […]
Why are BHP shares dropping into the red today? BHP Group Ltd (ASX: BHP) shares are experiencing a downward trend in today’s trading session. The mining giant’s stock has seen a decline of 2%, bringing its share price to $42.65. The reason behind this decline can be attributed to the company’s recently released FY 2023 […]
BHP Share Price Under Pressure as FY23 Profit Slumps August 22, 2023 — BHP, one of Australia’s largest mining companies, is experiencing significant pressure on its share price as its FY23 profit takes a substantial hit. The company’s financial performance, which has been closely watched by investors, has been impacted by various factors that have […]
Business Companies Earnings season: BHP profit dives, forcing it to slash dividend, as inflation bites Overview Mining giant BHP is facing significant challenges in the form of higher inflation costs and lower commodity prices. Its key iron ore business is being impacted by two major uncertainties – China’s unfolding property crisis and potential cuts to […]
BHP‘s Strong Performance: FY23 Results and Forward Outlook Revealed Introduction In the world of business, few names resonate as strongly as BHP. As Australia’s largest mining company, BHP has always held a significant position in the country’s economy. Recently, BHP announced its fiscal year 2023 (FY23) results, showcasing a strong performance and providing insights into […]
Markets in Turmoil as Aussie Dollar Plummets An Unpredicted Sell-Off The Australian market was taken by surprise this week as the Australian dollar plummeted to a nine-month low, causing a rush to reassess the currency‘s outlook. The sell-off, which saw the local currency drop 1.3% and touch US63.63¢, has raised concerns that it could intensify, […]
CSL Aims to Improve Efficiency and Boost Plasma Value Earnings Season Highlights Challenges for CSL CSL, the Australian biotech company valued at over $130 billion, is facing rising costs and foreign currency fluctuations that have impacted its full-year results. However, despite these challenges, CSL‘s shares on the ASX market saw a 5% increase on Tuesday. […]