Newcrest has handled its latest writedown announcement much more skilfully than it did a year ago when it was engulfed by a disclosure debacle, but the news about the giant Lihir gold mine is still not good.
Australian house prices aren't overvalued yet, but negative gearing tax breaks have added almost 9 per cent, or $44,000 to current average house prices, financial group Moody's Analytics has reported.
For sale sign on Hotel Bondi
But Telstra says overwhelmingly the company will keep those positions when it sends 671 offshore.
Newcrest Mining is set to wear another round of massive asset impairments, with the gold miner today warning it could be forced to write down the value of its assets by as much as $2.5 billion.
You may have noticed a developing commentary about the rough trot retail investors get compared to professional fund managers. The most obvious one is the unbalanced access to IPOs which has spawned the golden rule for retail investors that if an IPO is any good you won’t get offered it and if you get offered it, you don’t want it. The hot ones seem to evaporate into the hands of who knows who without so much as a public offer.
Local shares are poised to edge higher at the open, lifted in part by a generally positive day on Wall Street where the S&P 500 reached a record on Apple's latest quarterly results.
ANZ has provided a return on equity target for its international and institutional banking division for the first time –13 per cent – focusing attention on whether the bank can pursue both an aggressive Asian strategy and lift group-wide returns.
Regional lender Bendigo and Adelaide Bank has agreed to settle a mammoth class action dispute surrounding its involvement in a collapsed forestry group Great Southern.
BHP has demonstrated its strong credentials among the big Australian iron ore producers in the race to increase export volumes.