Earnings season
Updated
Sharemarket
ASX slides as mining and property stocks fall; AMP soars
The Australian sharemarket retreated on Thursday, ending a two-day rebound after the global rout on Monday.
- by Brittany Busch
Latest
Distressed borrowers seeking to access super to help repay mortgages: AMP
“If you look at our customer base, there is an element of customers and the community doing it really tough,” says AMP chief executive Alexis George.
- by Sumeyya Ilanbey
Weaker profits on the cards with miners to feel the heat
The upcoming reporting season will offer plenty of downgrades, with investors likely to punish earnings misses rather than reward better than expected numbers.
- by Staff reporter
Opinion
Big four
CBA lowers the curtain on a profit season banks would rather forget
This season was not one that banks will be crowing about – all experienced a fall in profits and the themes were remarkably similar.
- by Elizabeth Knight
CBA boss says rates to stay on hold after another profit drop
The country’s biggest bank has reported its net profit slid by 3 per cent as CEO Matt Comyn said the strong immigration rate was helping the Australian economy remain resilient.
- by Millie Muroi
Updated
ANZ Bank
ANZ boss warns of widening financial stress as profits slide 7 per cent
ANZ chief executive Shayne Elliott said there were “very real stresses” in the economy, but that much of it was outside the banking system.
- by Millie Muroi
Westpac boss predicts soft economic landing despite customer stress
Westpac boss Peter King says the economy is on track for a soft landing, even as customer stress has ticked up, and the bank posted a drop in profits.
- by Millie Muroi
Macquarie chief takes $7.6m pay hit as profits fall
Many of the investment behemoth’s top executives have had their pay cut by millions as green investments and lower commodity prices weighed on fiscal 2024 profits.
- by Millie Muroi
NAB boss says most of its home loans are written at a discount
Chief executive Andrew Irvine reported a 13 per cent tumble in half-year profits, but said households were mostly proving resilient in the cost-of-living crisis.
- by Millie Muroi
Local Facebook profits soar amid bargaining code stand-off
The social media giant increased its spending estimates for the year, once again raising questions about whether its futuristic technological bets will eventually pay off.
- by Calum Jaspan
Updated
Mergers & acquisitions
Smiggle, Peter Alexander slated to become standalone companies in 2025
The popular stationery and sleepwear brands are set to be spun out of Premier Investment’s stable of brands next year.
- by Jessica Yun