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St Barbara (ASX:SBM) suffers fatality, halts production at PNG project
May 21, 2021 04:00 - 1000 KB21 May 2021 - A fatality at St Barbara (ASX:SBM)’s Simberi mining project in Papua New Guinea has forced the gold explorer to temporarily cease production on the site. The casualty involved a Papua New Guinean staffer, as local law enforcement bodies have launched a full investigation into the incident.
Airtasker (ASX:ART) to raise 20.7 million for global expansion campaign
May 21, 2021 01:30 - 1000 KB21 May 2021 - Task-outsourcing platform Airtasker (ASX:ART) is asking investors to provide $20.7 million through an equity raising to fuel its global ambitions. Airtasker is offering shares for $1 per security, which represents an 8-cent or 7.4 per cent discount to its last trading price
APN Convenience Retail REIT (ASX:AQR) welcomes quality tenant via $35.5m leaseback deal
May 21, 2021 00:30 - 1000 KB21 May 2021 - Retail property landlord APN Convenience Retail REIT (ASX:AQR) has sealed a takeover and leaseback deal with On the Run for six retail sites in South Australia. The $35.5 million purchase has lifted the company’s total spending on its FY21 acquisition pipeline to $176 million. The 450.5 million property player will will finance the purchase with its debt facilities.
Stocks of the Hour: Nufarm, Evolution Mining & Beacon Lighting
May 20, 2021 04:53 - 2 minutes - 1000 KB20 May 2021 - Our snapshot of notable stocks today featuring Nufarm, Evolution Mining & Beacon Lighting.
Beacon Lighting (ASX:BLX) set to shoot profit lights out for FY21
May 20, 2021 04:14 - 1000 KB20 May 21 - Beacon Lighting (ASX:BLX) predicts its profit earnings to hit between $35.5- $37.5 million nearly doubling the $20.4 million underlying NPAT from last year.
Ampol (ASX:ALD) to spend $100m to ramp up green energy measures
May 20, 2021 03:00 - 1000 KB20 May 2021 - Service stations operator Ampol (ASX:ALD) has joined forces with US innovation giant Tesla to accelerate its transition towards green energy. The company has announced a $100 million decarbonisation campaign to develop sustainable power projects by 2025.
Nufarm's (ASX:NUF) revenue grows 20% for 1H FY21
May 20, 2021 02:04 - 1000 KB20 May 2021 - Agricultural company Nufarm (ASX:NUF) reports a 20% rise in revenue in their first half for FY21 with their EBITDA jumped 118% compared to same period a year ago. The company saw a rebound in NPAT of $59 million for the period.
Qantas (ASX:QAN) begins debt reduction in domestic travel-driven recovery
May 20, 2021 01:00 - 1000 KB20 May 2021 - Australia’s national flag carrier Qantas (ASX:QAN) has provided a full-year outlook suggesting that the company is projected to record a loss of over $2 billion for FY21 due to pandemic restrictions. However, the $8.5 billion company has reassured investors that the hard part is now behind it, as Qantas has “turned the corner” and begun the process of reducing debt.
Evolution Mining (ASX:EVN) finalises transaction for Canadian acquisition
May 19, 2021 23:00 - 1000 KB20 May 2021 - Gold player Evolution Mining (ASX:EVN) has finalised the transaction for the takeover of Battle North Gold for $366 million, following the successful completion of a scheme of arrangement.
AP Eagers (ASX:APE) yet to pay back JobKeeper subsidies despite upbeat profit data
May 19, 2021 04:30 - 1000 KB19 May 2021 - Automobiles retailer Eagers Automotive (ASX:APE) has reported an increase of $29 million in operating earnings for April, as the company’s operating profit for the first four months of the calendar year surged to $127 million. Despite these encouraging profit indicators, the company has not responded to politicians and market advocates’ call for high-performing businesses to repay JobKeeper subsidies. Eagers Automotive accessed $130 million from the JobKeeper payment package to ...
Brexit catalyses regulatory trouble for EML's European subsidiary
May 19, 2021 01:45 - 1000 KB19 May 2021 - EML Payments (ASX:EML) has received a notification from Irish authorities about regulatory concerns surrounding a European subsidiary the payment solutions provider purchased for a discounted price last year. The Central Bank of Ireland issued a letter addressing loopholes in the business model of EML’s Prepaid Financial Services (PFS).
Kathmandu (ASX:KMD) appoints surfing division boss as CEO
May 18, 2021 23:00 - 1000 KB19 May 2021 - Adventure and travel clothing supplier Kathmandu (ASX:KMD) has found a new chief executive within its own ranks, after an extensive international search for a new captain. The $1 billion outdoor fashion retailer has officially appointed the boss of its surfing brand Rip Curl, Michael Daly to be the group’s new CEO
Licence review hearing uncovers Crown (ASX:CWN)'s legal blunders
May 18, 2021 05:45 - 1000 KB18 May 2021 - Casino giant Crown Resort (ASX:CWN)’s legal blunders continued to unravel, as the Victorian Commission for Gaming and Liquor Regulation (VCLGR) entered the second day of the hearing to review the besieged gambling company’s suitability to hold a Victorian gaming licence.
Stocks of the Hour: Charter Hall, Woodside Petroleum & Rex
May 18, 2021 05:30 - 1 minute - 1000 KB18 May 2021 - Our snapshot of notable stocks for the hour featuring Charter Hall, Woodside Petroleum & Rex.
Rex (ASX:REX) cops fine but denies disclosure mishaps
May 18, 2021 03:30 - 1000 KB18 May 2021 - Aviation services provider Regional Express (ASX:REX) has complied with an ASIC penalty notice and paid the $66,000 fine for alleged disclosure misconduct, yet denying all liability and reaffirming its legal integrity. ASIC moved to penalise the airline operator, claiming that REX’s interview with the Australian Financial Review (AFR) last week was in violation of disclosure responsibilities under corporate law.
Woodside (ASX:WPL) to divest stake in Canadian LNG project
May 18, 2021 01:30 - 1000 KB18 May 2021 - Petrol explorer Woodside Petroleum (ASX:WPL) has announced its intention to divest its 50 per cent stake in the proposed Kitimat liquefied natural gas (KLNG) development project in Canada.
Charter Hall (ASX:CLW) to splash $415m on government-occupied properties
May 18, 2021 00:30 - 1000 KB18 May 2021 - Property manager Charter Hall Long WALE REIT (ASX:CLW) is set to splash a total of $415.4 million on four 50 per cent stakes in four office and research assets and a complete takeover of one retail property. Charter Hall plans to finance these acquisitions with a $250m equity raising and existing debt facilities.
James Hardie (ASX:JHX) achieves profitable growth for 8 straight quarters
May 17, 2021 22:00 - 1000 KB18 May 2021 - Construction materials manufacturer James Hardie (ASX:JHX) has reported an eight consecutive quarter of consistent profitable growth. The fourth quarter saw the company’s net sales rise 20 per cent to $1.03 billion, which in effect lifted the full year’s net sales by 12 per cent to $2.9 billion. The $18.8 billion has attributed the profit growth to its waste elimination intiatives and increased market share driven by the consistent integration of James Hardie’s supply chain with...
Stocks of the Hour: Crown, Star, Medibank, Ampol & Viva Energy
May 17, 2021 05:30 - 3 minutes - 1000 KB17 May 2021 - A snapshot of companies making the headlines for today, featuring Crown Resorts, Star Entertainment, Medibank, Ampol & Viva Energy.
Lifeline for Ampol (ASX:ALD) & Viva Energy (ASX:VEA)'s oil refineries
May 17, 2021 05:20 - 1000 KB17 May 2021 - The Department of Industry, Science, Energy and Resources is set to implement a $2.3 billion stimulus package for the energy sector to rescue Australia’s battered oil refining industry and maintain the country’s self-sufficiency in oil production.
Medibank (ASX:MPL) begins CEO handover
May 17, 2021 01:30 - 1000 KB17 May 2021 - Health insurer Medibank (ASX:MPL)’s reshuffle of chief executives will begin today, as Craig Drummond hands over his boss duties to his successor David Koczkar. Mr Drummond’s 6-year stint at the helm of the $8.2 billion firm will officially come to an end on June 30. The transitional period will span one and a half months, during which the outbound executive will assist the new boss in getting acquainted with the new responsibilities.
Crown (ASX:CWN) turns down Blackstone, approaches Star for more detail
May 17, 2021 00:30 - 1000 KB17 May 2021 - Beleaguered casino operator Crown (ASX:CWN) has dealt a blow to Blackstone in the heated bidding war for the $8.8 billion company. The ASX-listed gaming giant has officially turned down the US investment behemoth’s improved buyout deal worth $8.3 billion.
Plant shutdowns hampered Incitec Pivot (ASX:IPL)'s first-half earnings
May 17, 2021 00:00 - 1000 KB17 May 2021 - Chemicals manufacturer Incitec Pivot (ASX:IPL) has reported a decline of 43.7 per cent in net earnings to $36.4 million for the first half of FY21, citing pandemic-induced manufacturing interruptions.
Stocks of the Hour: Resolute Mining, Synlait Milk & Volt Resources
May 14, 2021 05:30 - 1 minute - 1000 KB14 May 2021 - A snapshot of the companies making headlines for the hour.
Redflex (ASX:RDF) one step away from takeover by Verra Mobility
May 14, 2021 04:00 - 1000 KB14 May 2021 - Traffic surveillance specialist Redflex (ASX:RDF) has received the second last tick of approval from the Federal Court of Australia for an acquisition by US-listed Smart transportation firm Verra Mobility Corporation. The takeover scheme of arrangement for the $144 million vehicle tracking solutions provider is now pending the last approval from the General Authority for Competition in the Kingdom of Saudi Arabia (GAC).
Synlait (ASX:SM1) sees 3rd executive-level departure in 2 months
May 14, 2021 01:00 - 1000 KB14 May 2021 - Under-pressure dairy processing company Synlait Milk (ASX:SM1) has farewelled the third top staffer in two months. The company’s chief financial officer Angela Dixon has announced her resignation, following former CEO Leon Clement and director of operations Mark Toomey’s departures from the New Zealand-based dairy producer.
Volt Resources (ASX:VRC) to make Ukraine acquisition following due dilligence
May 13, 2021 23:45 - 1000 KB14 May 2021 - Mineral explorer and producer Volt Resources (ASX:VRC) is set to acquire a 70 per cent stake in the Ukraine-based Zavalievsky group of companies (ZG Group), following the conclusion of its due diligence process.
Stuart Gale's reign as Resolute Mining (ASX:RSG) CEO made permanent
May 13, 2021 23:00 - 1000 KB14 May 2021 - Gold player Resolute Mining (ASX:RSG) has officialised Stuart Gale’s leadership position at the helm of the company as chief executive officer and managing director.
oOh Media's (ASX:OML) full-year revenue falls 34%
May 13, 2021 03:55 - 1000 KB13 May 2021 - Outdoor media advertisers oOh!Media (ASX:OML) reports a 34% fall in revenue to $426.5 million in the 12 months to December as audience numbers dropped due to the restrictions and lockdowns cause by the pandemic.
Codan (ASX:CDA) completes $114m acquistion of Domo Tactical Communications
May 13, 2021 03:45 - 1000 KB13 May 2021 - Metal detection and mining technology company Codan (ASX:CDA) has completed its $114 million acquisition of US-based company, Domo Tactical Communications.
Crown (ASX:CWN) commits to cashless transactions at Sydney casino
May 13, 2021 03:30 - 1000 KB13 May 2021 - Under-pressure casino operator Crown Resorts (ASX:CWN) has committed to cashless transactions in its Sydney casino operations, in a bid to improve the gaming giant’s legal standing with authorities.
Telstra (ASX:TLS) slapped with $50 million fine for misleading indigenous customers
May 13, 2021 02:00 - 1000 KB13 May 2021 - Australia’s largest telecommunications company Telstra has been slapped with a $50 million fine for misleading conduct in sales activities with aboriginal customers and untimely response to remediate these shortcomings. Telstra has admitted that the telco giant was in violation of the Australian Consumer Law by locking 108 indigenous customers into post-paid mobile contracts without adequate effort to transparently inform them of the relevant expenses, terms and conditions.
Stocks of the Hour: Xero, Orica and Graincorp
May 13, 2021 01:59 - 2 minutes - 1000 KB13 May 2021 - A snapshot of company news making headlines in the morning featuring Xero (ASX:XRO), Orica (ASX:ORI) and Graincorp (ASX:GNC) as they all released their earnings figures today.
GrainCorp (ASX:GNC) reinstates dividend and lifts full year guidance
May 13, 2021 01:14 - 1000 KB13 May 2021 - GrainCorp (ASX:GNC) has upgraded its full year guidance following its strong half year results reinstating its interim dividend, due to a rebound in growing conditions on Australia's east coast following the drought last year and a boost in global demand.
Orica (ASX:ORI) to sell Minova business as profit falls 54%
May 13, 2021 00:32 - 1000 KB13 May 2021 - Explosives systems company Orica (ASX:ORI) reports a 54 per cent drop in their half-year net profit to $77 million when compared to the same time last year.
Pro Medicus (ASX:PME) inks 4th cloud-based medical imaging deal for $14m
May 13, 2021 00:30 - 1000 KB13 May 2021 - Medical imaging specialist Pro Medicus (ASX:PME) has inked a $14 million deal with The University of Vermont Health Network Inc (UVM) through the company’s subsidiary Visage Imaging. Under the new contract, the $4.2 billion health tech firm will provide its diagnostic technology to the six-hospital and home health & hospice system based in the US for a period of eight years.
Increased user base lifts Xero (ASX:XRO)'s profit by nearly 6 times
May 12, 2021 23:00 - 1000 KB13 May 2021 - Cloud-based accounting platform Xero (ASX:XRO) has reported its net profit grew by almost 6 times to $18.4 million, according to the company’s FY21 results. The digital bookkeeping firm has attributed the strong full-year performance to a record surge in its subscriber base in the second half of the fiscal year.
Qantas (ASX:QAN) loses altitude on extended border closures
May 12, 2021 05:00 - 1000 KB12 May 2021 - National flag carrier Qantas was among airlines losing altitude on the market today, shedding 3.4 per cent to $4.50 by 2.30pm, following signals from last night’s Federal Budget announcement that Australia extend its national border closures to the end of FY22.
Online church donations bolster Pushpay (ASX:PPH)'s revenue growth
May 12, 2021 04:30 - 1000 KB12 May 2021 - Donation system operator Pushpay (ASX:PPH) has released its FY21results, indicating a rise in net earnings of almost 100 per cent to $41.1 million for the full year period ending on March 31. The faith-focused developer of donation-processing platforms reported an increase in annual revenue of 39 per cent to $232.4 million for the fiscal year.
Stocks of the Hour: Commonwealth, Carsales & Evolution Mining
May 12, 2021 02:20 - 2 minutes - 1000 KB12 May 2021 - A snapshot of company news making headlines in the morning session, featuring Commonwealth (ASX:CBA), Carsales (ASX:CAR) & Evolution Mining (ASX:EVN).
Evolution Mining (ASX:EVN) receives shareholder approval for Canadian acquisition
May 12, 2021 01:30 - 1000 KB12 May 2021 - Gold player Evolution Mining (ASX:EVN) has received the the tick of approval from Battle North Gold’s shareholders to take over the Canadian-based mineral explorer. Evolution has offered $361.7 million to rally shareholder support for the deal to acquire the company dual-listed in Canada and the US.
Carsales.com (ASX:CAR) to raise $600m to finance US acquisition
May 12, 2021 00:30 - 1000 KB12 May 2021 - Automotive e-commerce platform carsales.com is calling on institutional and retail investors to back its equity-raising campaign to generate $600 million to boost its footprint in the US market. The $4.8 billion company intends to pay $800 million to acquire a 49 per cent interest in Virginia-based digital marketplace developer Trader Interactive. The company is offering shares at $17 per security, which represents a markdown of $2.51 from the previous session’s closing price.
Commonwealth Bank (ASX:CBA) doubles quarterly earnings YoY
May 11, 2021 22:00 - 1000 KB12 May 2021 - Banking giant Commonwealth (ASX:CBA) has reported a twofold increase year on year to $2.4 billion in net cash earnings for the March Quarter of FY21, representing a 24 per cent hike from average quarterly profits in the first fiscal half.
nib (ASX:NHF)'s redemption sways ACCC to drop charges
May 11, 2021 05:45 - 1000 KB11 May 2021 - Australian health care fund nib Group (ASX:NIH) has successfully convinced business regulator the ACCC to drop charges against the company in the Federal Court, following a series of customer remediation efforts and improved communication practices.
APN Property Group (ASX:APD)'s board recommends takeover by Dexus (ASX:DXS)
May 11, 2021 05:30 - 1000 KB11 May 2021 - ASX-listed real estate player Dexus (ASX:DXS) has secured unanimous endorsement from APN Property Group (ASX:APD)’s management board to acquire the $201 million property investment manager.
NAB (ASX:NAB) to enhance banking experience for "86 400" seconds a day
May 11, 2021 02:00 - 1000 KB11 May 2021 - Banking giant NAB (ASX:NAB) has received the final green light from the Federal Court to proceed with the acquisition of smart bank 86 400.The acquisition is part of the $89.4 billion financial institution’s project to digitise and innovate banking operations and enhance customer experience.
Pendal Group (ASX:PDL) raises $190 million to fund US acquisition
May 11, 2021 01:00 - 1000 KB11 May 2021 - Investment manager Pendal Group (ASX:PDL) has successfully raised $190 million from institutional investors. The $2.4 billion investor offered 27.9 million new shares under a fully underwritten institutional placement to finance the $413 million purchase of Thompson, Siegel & Walmsley.
Pilbara Minerals (ASX:PLS) teams up with Calix to develop mid-stream lithium chemicals refinery
May 11, 2021 00:30 - 1000 KB11 May 2021 - Lithium player Pilbara Minerals (ASX:PLS) has agreed to join forces with with CO2-reduction technology developer Calix (ASX:CLX) to construct a lithium production facility. The two parties have signed a memorandum of understanding to initiate the development process of a midstream lithium chemicals refinery with a scoping study.
Stocks of the Hour: Crown, The Star, Woolworths & Pointsbet
May 10, 2021 05:52 - 2 minutes - 1000 KB10 May 2021 - A snapshot of stocks making headlines for the hour featuring Crown Resorts (ASX:CWN), Woolworths (ASX:WOW) & PointsBet Holdings (ASX:PBH).
Nickel Mines (ASX:NIC)'s MD hospitalised after traffic accident
May 10, 2021 05:50 - 1000 KB10 May 2021 - Nickel pig iron producer Nickel Mines (ASX:NIC) has reported that the company’s managing director Justin Werner suffered an injury in a traffic accident and was admitted to hospital in Indonesia.