News: Money

Ron Brierley makes low-ball offer for Mark Bouris' Yellow Brick Road

Tuesday  03:55,   21 august 2018

Mark Bouris-chaired Yellow Brick Road has received a takeover bid from veteran corporate raider Sir Ron Brierely's Mercantile Investment Company. In a statement lodged with the stock exchange on Monday afternoon, Mercantile said it was offering[...]
News / Money

Plastic not fantastic: Woolworths says 'painful' bag ban hurt sales

Tuesday  03:55,   21 august 2018

Grocery sales in the first seven weeks of this financial year have been hit by the removal of single-use plastic bags and Coles’ popular Little Shop promotion.Retail giant Woolworths has blamed a dramatic slowdown in sales to the "painful" move to[...]

ASX lifts modestly on materials as supermarkets fall

Tuesday  02:56,   21 august 2018

The sharemarket ended a volatile day of trading modestly higher, as gains in the materials sector outweighed losses in banks and supermarkets. The S&P/ASX 200 index rose 5.8 points, or 0.1 per cent, to 6345, hitting a fresh 10-year high for the [...]

Fortescue Metals profit drops 58pc; lower China demand and cheaper iron ore

Monday  21:26,   20 august 2018

Fortescue Metals's annual net profit dropped 58 per cent to $US878 million due to lower prices, and slowing demand for its exportsfrom China. It was a substantial drop from its $US2.1 billion profit in the 2016-17 financial year. The company,[...]

Melbourne's property market led falls in major capitals for the fourth straight week

Monday  18:52,   20 august 2018

Data from CoreLogic shows home values fell by 0.1% last week across Australia’s combined capitals. Melbourne’s market led falls for the fourth straight week, recording a 0.2% fall.Weekly data from CoreLogic showed the declines were led by Melbourne[...]

PepsiCo is buying SodaStream in a $US3.2 billion deal

Monday  16:45,   20 august 2018

PepsiCo is buying SodaStream, a home system for carbonating water, for $US3.2 billion ($AU4.4bn) in a deal which will give the beverage giant direct access to customers in their homes. The deal sees PepsiCo paying $US144.00 in cash for each[...]

'Day of starvation' as CommBank online customers unable to access funds

Monday  15:51,   20 august 2018

Commonwealth Bank customers were unable to make payments or access the CommBank phone app for hours on Monday.The bank issued a statement about 7am saying it was aware of an issue affecting Visa card transactions at CBA merchant terminals and[...]

Snapchat's much-needed Android overhaul is hiding in plain sight

Monday  13:30,   20 august 2018

Snap promised a sorely needed redesign for Snapchat's sluggish Android app back in November, and it's now clear what that tune-up will entail. More importantly, you'd have to get root access on your phone just to check out the[...]

New iPhone XS already on sale, ahead of release, but you won't be able to afford it

Monday  12:55,   20 august 2018

The new iPhone XS, not expected for release until later this year, has appeared online in a leak of what we could expect albeit it in an extreme £100,000 Goldgenie version of the new iPhone. The company has shown off renders, above, of what [...]

Foxtel attempts to surf the streaming wave and avoid another wipeout

Monday  12:36,   20 august 2018

The pay TV giant still appears to be struggling - but its new boss has a plan to fix thatFoxtel chief executive Patrick Delany hosted a glittering event at the Fox Studios complex in Sydney last week to launch the pay TV giant's new '4K'[...]

Logitech's vertical mouse could save your wrist

Monday  12:32,   20 august 2018

There's a good chance you're holding your mouse wrong. Maybe you're gripping it too hard, or your hand is just at a bad angle. While mouse-related injuries are fairly common, if you're experiencing wrist or arm pain regularly, it's[...]

McGrath slides to a $63.1 million loss

Monday  12:06,   20 august 2018

McGrath's full year revenue was down 23% to $99.2 million. A $63.1 million after tax loss. The real estate market is "challenging" but the company says it has started its turnaround.Revenue was down 23% to $99.2 million but underlying[...]

Woolworths beats Coles again, rewards investors with special dividend

Monday  12:06,   20 august 2018

But sales in the first seven weeks of this financial year have been hit by the removal of single-use plastic bags and Coles’ popular Little Shop promotion.Retail giant Woolworths has posted a 12.5 per cent jump in profit thanks to growing sales and[...]

Aussie dollar bounces off 18-month low

Monday  10:30,   20 august 2018

The Australian dollar is buying 73.16 US cents, from 72.71 US cents on Friday. Australian shares look set to open higher on the back of a strong finish to the week on Wall Street, where investors were buoyed by reports of progress in tariff disputes [...]

Pokies add $8.32b in value to Australian economy, manufacturers say

Monday  10:05,   20 august 2018

Poker machine manufacturers have seized on the findings of a soon-to-be-released study to hit out at the industry's vocal critics.Poker machine manufacturers have taken a provocative swipe at the industry’s critics, seizing on the findings of a[...]