Aaron Bunch Journalist with Australian Associated Press | Collection of published work | + 61 484 008 119 | abunch@aap.com.au
Archive for November, 2017
AWE shares jump takeover bid
AWE Group’s shares jumped more than 20 per cent after the oil and gas group receives a $430 million takeover bid from a Chinese state-owned energy corporation. November 30, 2017 Shares in oil and gas group AWE have jumped more than 20 per cent following a $430 million takeover bid from a Chinese state-owned energy […]
ASX down on finance sector probe
Australian shares have recouped some of their morning losses but are still lower following the announcement of royal commission into the financial sector. November 30, 2017 The Australian share market has rallied off morning lows but remains lower following the announcement of a royal commission into the financial sector. The benchmark S&P/ASX200 index was down […]
ACCC beards baldness clinic over contracts
The consumer watchdog has kicked off court proceedings against hair loss clinic Ashley & Martin over alleged unfair business practices. November 29, 2017 The consumer watchdog has been pulling its hair out over the alleged unfair business practices at a chain of Australian clinics offering baldness treatments. The Australian Competition and Consumer Commission has initiated […]
Broad gains for ASX after Wall St boost
The Australian share market has held onto the morning’s gains following a strong lead from Wall Street overnight. November 29, 2017 The Australian share market is solidly higher at midday, with growth led by banking, mining and utilities stocks continuing a strong lead from Wall Street overnight. The benchmark S&P/ASX200 index was up 36 points, […]
Youi to pay $164,000 over sales practices
Youi will pay $164,000 after ASIC raised concerns the insurer was charging people for policies they hadn’t agreed to buy. November 29, 2017 Youi will pay $164,000 after the corporate watchdog raised concerns the insurer had been charging people for policies they hadn’t agreed to buy. The company will refund approximately $14,000 to 102 consumers […]
Pot-scented chocs a new market for Creso
A new range of marijuana flavoured chocolate has been launched by Australian company Creso Pharma but don’t expect to get high on this Swiss treat. November 28, 2017 Australian medicinal cannabis company Creso Pharma is looking to take a bite out of the hemp “edibles” market, with a range of marijuana flavoured chocolates. Don’t expect […]
ASX edges up despite BHP, Telstra falls
The Australian share market was slightly higher at midday, with only materials and telco sectors in the red. November 28, 2017 The Australian share market was marginally higher at midday, with only materials and telco sectors in the red. The benchmark S&P/ASX200 index was up 6.5 points, or 0.11 per cent, at 5,995.3 points at 1200 […]
A review of the week’s economic data
A review of this week’s economic data, November 20 to November 24. November 24, 2017 CORELOGIC CAPITAL CITY HOUSE PRICES Home sales across Australia’s capital cities edged higher in the week to November 19, but softness in the Sydney market continued to weigh on prices. The national auction clearance rate rose to 65.4 per cent, up […]
Select upbeat after tough 2016/17
Almond grower Select Harvests remains optimistic about growth and shareholder returns despite a tough year due to frost and a fall in nut prices. November 24, 2017 Australia’s biggest almond grower, Select Harvests, is upbeat about growth and shareholder returns after turning around from a disappointing result last financial year. At the company’s annual general […]
Australian shares lower across the board
With Wall Street closed for the holiday, the Australian share market has drifted lower. November 24, 2017 Australian shares have drifted lower with weakness across all sectors in the absence of a lead from Wall Street. The benchmark S&P/ASX200 index was down 17.9 points, or 0.3 per cent, at 5,968.3 points at 1200 AEDT on […]
Coca-Cola Amatil’s spending hits shares
Coca-Cola Amatil shares have fallen after the drinks distributor brought forward $40 million in spending, which will dent its earnings. November 23, 2017 Shares in Coca-Cola Amatil have hit their lowest level in almost a decade after the drinks distributor warned its earnings will be impacted by $40 million of spending aimed at driving growth […]
Webjet’s earnings forecast disappoints
Webjet shares have tumbled despite the online travel agency forecasting a rise of around 14 per cent in full-year earnings. November 22, 2017 Shares in Webjet have plummeted after the online travel agency disappointed investors with its forecast of 14 per cent earnings growth. Webjet said it is on track to deliver earnings of $80 […]
Fintechs surge in startup sector
Fintechs are the fastest-growing kind of startup in Australia and many banking industry professionals are pursuing new ventures in the startup space. November 21, 2017 Financial tech-innovators, or fintechs as they’ve become known, are dominating the Australian startup sector with Sydney their hub of choice, a new report shows. And true to the nature of […]
Consumer confidence hits 16-week high
Improving economic conditions and labour market strength have helped drive consumer confidence to a 16-week high. November 21, 2017 Consumer confidence has bounded to a sixteen-week high, with householders feeling positive about the state of the economy and a fall in the unemployment rate, new figures show. The latest ANZ-Roy Morgan Consumer Confidence Index shows […]
Apartments trend shrinks Aussie homes
Australians build some of the biggest houses in the world but the average new home size has shrunk to a 20-year low as more people choose apartments. November 20, 2017 The size of the average new home has shrunk to a 20-year low as more people buy apartments but the McMansion era is far from […]
A review of the week’s economic data
A review of this week’s economic data, November 13 to November 17. November 17, 2017 CORELOGIC CAPITAL CITY HOUSE PRICES Sydney home prices have fallen again, while Melbourne’s have remained flat. The national auction clearance rate lifted to 66.5 per cent in the week to November 12, from the previous week’s adjusted 61.5 per cent […]
Consumers opt for experiences over stuff
New nationwide spending data shows consumers are choosing fun experiences over product purchases as clothing and retails purchases fall. November 16, 2017 Consumers are spending more on concerts and going to the movies but staying away from the shops, particularly clothing stores, a new survey of spending shows. Economy-wide spending in October recorded its strongest […]
MYOB spends $180m on Reckon software
Software group MYOB will buy the Australian and New Zealand assets of Reckon’s Accountant Group for $180 million. November 16, 2017 Business software group MYOB will buy rival Reckon’s accounting business for $180 million. MYOB chief executive Tim Reed says he expects the purchase of Reckon’s Accountant Group assets – which include taxation and financial […]
Rate rise fears hit consumer confidence
Fear of rising home loan rates and uncertainty about the economy have been cited as reasons for a monthly fall in consumer sentiment. November 15, 2017 Fear of rising home loan rates and political uncertainty could be behind the fall in consumer confidence in November, with pessimists now outnumbering optimists. The Westpac Melbourne Institute Index […]
Consumer confidence hits seven-week high
Improving economic conditions and labour market strength have driven consumer confidence to a seven-week high, a new report shows. November 14, 2017 Consumer confidence has bounced to a seven-week high, with people feeling more optimistic about the state of the economy and buoyed by improvements in the job market, new figures show. The latest ANZ-Roy […]
Experts call for global ban on asbestos
Experts have called for a global ban on asbestos at the launch of the annual National Asbestos Awareness Campaign in Sydney. November 1, 2017 Experts gathering in Sydney have called for a global ban on asbestos, which continues to be used in developing countries to manufacture products and goods bound for Australia. The material is linked […]