Latest Company News - Finance News Network
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Interest rate plateau: Beating the market in 2024?
April 15, 2024 21:20 - 1000 KB16 Apr 2024 - The higher for longer narrative gains traction as US consumer data holds steady and markets hit all time highs. The late cycle AI heated market rally may be cause for concern, but the more urgent risk for investors is an economy with falling yields and sticky inflation.
Tesla faces layoffs and share slump
April 15, 2024 21:19 - 1000 KB16 Apr 2024 - Tesla shares slumped on Monday after online news services reported that the EV giant was about to cut its worldwide job numbers by 10%.
Gold Road's Canadian ambitions stir concerns
April 15, 2024 05:09 - 1000 KB15 Apr 2024 - Investors delivered a thumbs down to Gold Road Resources (ASX:GOR) after it confirmed ambitions to try to buy a mining company in Canada. The shares fell more than 7% on Monday.
Stocks of the Hour: Piedmont Lithium, Findi, Empire Energy Group
April 15, 2024 01:25 - 1 minute - 1000 KB15 Apr 2024 - A snapshot of the stocks on the move, featuring Piedmont Lithium (ASX:PLL), Findi (ASX:FND) and Empire Energy Group (ASX:EEG).
Kin Mining and PNX Metals announce merger
April 15, 2024 00:19 - 1000 KB15 Apr 2024 - Two months after it was first mooted, Kin Mining (ASX:KIN) and PNX Metals (ASX:PNX) are set to marry in an all-share union of mining's smaller players.
IEA reports growing impact of EV sales on global oil demand
April 14, 2024 23:56 - 1000 KB15 Apr 2024 - All the tremors around markets on Friday and the weekend buried the appearance of a major global oil demand estimate of the early impact of the stuttering transition away from conventionally powered vehicles to EVs in their various forms.
Coventry Group seeks $25 million from shareholders
April 14, 2024 23:47 - 1000 KB15 Apr 2024 - Industrial parts supplier Coventry Group (ASX:CYG) is set to request $25 million from shareholders to finance a $42.1 million acquisition across the Tasman. The company unveiled the deal on Monday, outlining its intention to acquire New Zealand-based metal fasteners manufacturer, Steelmasters.
Fed's Daly says there is no urgency to cut rates
April 14, 2024 22:58 - 1000 KB15 Apr 2024 - Federal Reserve Bank of San Francisco President Mary Daly says there is no urgency to adjust interest rates, given a strong labor market, robust consumer spending, and a slower pace of moderation in the inflation rate in recent months.
China's strong 2024 start halts
April 14, 2024 22:03 - 1000 KB15 Apr 2024 - China's strong start to 2024 came to a rapid halt in March, judging by this week’s inflation and trade data.
Oil rebounds despite IEA's trimmed forecast
April 14, 2024 21:35 - 1000 KB15 Apr 2024 - Oil rebounded Friday even as the International Energy Agency trimmed its forecast rise in 2024 global oil demand.
Gold prices soar to record highs before retreating
April 14, 2024 21:33 - 1000 KB15 Apr 2024 - Gold prices surged over $2,400 an ounce in early trading on Friday, hitting successive, never-before-contemplated highs in the wake of the very dovish statements from the European Central Bank and its head, Christine Lagarde, about a potential June rate cut.
Reality strikes Wall Street
April 14, 2024 21:32 - 1000 KB15 Apr 2024 - Reality struck Wall Street on Friday from various directions, setting up a nasty opening for the ASX this morning. Friday night’s share price futures platform had the ASX 200 staring at a 50-point loss when trading resumes this morning.
US quarterly reporting season heats up
April 14, 2024 21:31 - 1000 KB15 Apr 2024 - The US March quarter reporting season accelerates this week with three more banks and Netflix down to be the most watched filers.
BP shares surge amidst UAE's acquisition interest
April 14, 2024 21:29 - 1000 KB15 Apr 2024 - Shares in the oil major BP surged by 3.4% on Friday following reports that the United Arab Emirates' (UAE) state-owned oil company had recently considered purchasing the UK-based company but withdrew from preliminary talks.
World iron ore prices surge by 15% following recent dip
April 14, 2024 21:28 - 1000 KB15 Apr 2024 - Two weeks after experiencing a price slide in late March and early April, world iron ore prices made a remarkable recovery last week, registering a substantial 15% gain.
Market expectations for the week ahead
April 14, 2024 21:23 - 1000 KB15 Apr 2024 - What's ahead this week for markets? A lot of headaches, in addition to the usual flow of reports and data.
Steel summit: A forecaster's alert for Australian investors
April 12, 2024 02:20 - 1000 KB12 Apr 2024 - A respected industry forecaster has strongly suggested that peak steel demand in China may have already occurred.
Tesla prepares to unveil quarterly financials
April 12, 2024 01:46 - 1000 KB12 Apr 2024 - A significant week awaits Tesla as the company prepares to unveil its quarterly financials on Wednesday, potentially mirroring the outcomes of the same quarter in 2023.
Stocks of the Hour: NewPeak Metals, HighCom, Estrella Resources
April 12, 2024 01:30 - 1 minute - 1000 KB12 Apr 2024 - A snapshot of the stocks on the move, featuring NewPeak Metals (ASX:NPM), HighCom (ASX:HCL) and Estrella Resources (ASX:ESR).
Farewell Boral
April 12, 2024 01:21 - 1000 KB12 Apr 2024 - It’s goodbye, Boral (ASX:BLD), as the company’s briefly rebellious independent directors accept a remade offer from Seven Group Holdings, the largest shareholder.
Moody's gives Ansell acquisition a thumbs up
April 12, 2024 01:14 - 1000 KB12 Apr 2024 - Moody’s gave Ansell approval this week following the company’s proposed $641 million acquisition of Kimberley-Clark’s PPE business.
Chinese economy faces deflation again in March
April 11, 2024 03:30 - 1000 KB11 Apr 2024 - Deflation revisited China's economy in March, following its disappearance in February. China's consumer inflation decelerated to an annual rate of just 0.1% in March from the surprising 0.7% reading in February.
Northern Star Resources' quarterly performance and market response
April 11, 2024 01:25 - 1000 KB11 Apr 2024 - We witnessed the typical knee-jerk reaction from traders on Thursday in response to Northern Star Resources' (ASX:NST) swift update on its March quarter gold sales performance.
Stocks of the Hour: Krakatoa Resources, Cosmos Exploration, Vulcan Energy Resources
April 11, 2024 01:20 - 1 minute - 1000 KB11 Apr 2024 - A snapshot of the stocks on the move, featuring Krakatoa Resources (ASX:KTA), Cosmos Exploration (ASX:C1X) and Vulcan Energy Resources (ASX:VUL, FSE:VUL).
NEXTDC pursues $1.3 billion capital raise for data center expansion
April 11, 2024 00:11 - 1000 KB11 Apr 2024 - NEXTDC (ASX:NXT) is seeking $1.3 billion in a new capital raising to finance its growing data center pipeline and accelerate the expansion of its extensive data center networks in Sydney and Melbourne.
Robotaxis face challenges amid regulatory scrutiny
April 10, 2024 22:40 - 1000 KB11 Apr 2024 - Here's a significant warning for Elon Musk, Tesla, and investors banking on robotaxis to compensate for shelved Tesla EV variants.
March's US consumer price index
April 10, 2024 21:35 - 1000 KB11 Apr 2024 - March's US Consumer Price Index shouldn’t come as much of a surprise to financial markets. After all, it merely continued the trend established in the January data and persisted into February – that inflation was lingering longer than desired.
China's auto industry rides high on demand rebound
April 10, 2024 21:34 - 1000 KB11 Apr 2024 - China's car industry surged in March as demand recovered from weak levels in January, followed by a holiday-dampened February, propelling output higher.
China's credit outlook turns negative
April 10, 2024 06:16 - 1000 KB10 Apr 2024 - In a surprise announcement four months after Moody’s move, Fitch on Wednesday revised its outlook on China to negative, citing increasing risks to the country's public finance outlook from a slowing economy and its search for new ways to stimulate growth in the wake of the property crunch.
Fitch revises China's rating
April 10, 2024 04:51 - 1000 KB10 Apr 2024 - In a recent development, Fitch Ratings has opted to revise the outlook on China's long-term foreign debt from stable to negative. This move comes as Fitch cites escalating concerns regarding the country's public finance prospects amid a steady rise in debt levels.
RBNZ maintains high interest rates
April 10, 2024 04:22 - 1000 KB10 Apr 2024 - The Reserve Bank of NZ believes that maintaining interest rates at their current highs will "return consumer price inflation to the bank’s 1% to 3% target by the end of 2024."
Stocks of the Hour: Forrestania Resources, Nico Resources, Wildcat Resources
April 10, 2024 01:18 - 1 minute - 1000 KB10 Apr 2024 - A snapshot of the stocks on the move, featuring Forrestania Resources (ASX:FRS), Nico Resources (ASX:NC1) and Wildcat Resources (ASX:WC8).
Gold surges, copper reaches high, oil dips ahead of US inflation report
April 09, 2024 21:15 - 1000 KB10 Apr 2024 - Gold hit an all-time high of $2,384.50 per ounce on Tuesday on Comex in New York, before easing to trade around $2,371 per ounce at 7am Sydney time on Wednesday.
Ansell's $400m placement yields strong returns
April 09, 2024 07:00 - 1000 KB09 Apr 2024 - Big investors seized a lucrative opportunity on Tuesday as Ansell, the global leader in protective solutions, executed a $400 million placement. The move, aimed at financing the acquisition of Kimberley-Clark's PPE business, resulted in significant gains for shareholders across the board.
NAB snapshot: Australian economy steady
April 09, 2024 01:56 - 1000 KB09 Apr 2024 - A bit of a "steady as she goes" report card on the health of the Australian economy last month from the National Australia Bank.
Stocks of the Hour: Miramar Resources, Solstice Minerals, Helix Resources
April 09, 2024 01:20 - 1 minute - 1000 KB09 Apr 2024 - A snapshot of the stocks on the move, featuring Miramar Resources (ASX:M2R), Solstice Minerals (ASX:SLS) and Helix Resources (ASX:HLX).
Bitcoin surges above $71,000 ahead of halving
April 09, 2024 00:21 - 1000 KB09 Apr 2024 - Bitcoin surged past the $71,000 mark during Asian trading hours on Monday, marking its highest point since April 1. The rally comes as anticipation builds ahead of the much-anticipated reward halving expected to take place on April 20. This surge has not only propelled Bitcoin but also bolstered bets within the Ordinal and BRC-20 ecosystem.
China's gold buying slumps amid record prices
April 08, 2024 22:19 - 1000 KB09 Apr 2024 - In March, China's gold buying spree dipped amidst soaring prices, hinting at further decline in April after prices surged to unprecedented levels on Monday.
China's property developers under legal siege
April 08, 2024 22:17 - 1000 KB09 Apr 2024 - The angle of attack on China's struggling property developers has shifted significantly. Under President Xi Jinping's administration, the Chinese government has adopted a radical approach towards their financial health, employing non-Communist party overseen legal mechanisms.
Navigating Q1 earnings season
April 08, 2024 22:14 - 1000 KB09 Apr 2024 - First-quarter earnings season is set to begin in earnest this week, led by banking giants JPMorgan Chase, Wells Fargo (WFC), and Citigroup on Friday.
Iron ore futures rally in Singapore despite market fluctuations
April 08, 2024 22:10 - 1000 KB09 Apr 2024 - Iron ore futures surged unexpectedly in Singapore on Monday, a stark contrast to their decline late last week.
Sweeping staff cuts at Beach Energy
April 08, 2024 05:04 - 1000 KB08 Apr 2024 - Beach Energy (ASX:BPT), a prominent player in the oil and gas industry, has been grappling with significant challenges, including cost overruns and delays, at its Waitsia gas project in Western Australia. The company's recent announcement of sweeping staff cuts has underscored the severity of the situation, raising concerns among investors and stakeholders alike.
Stocks of the Hour: Alice Queen, Aurora Labs, Qoria
April 08, 2024 01:42 - 1 minute - 1000 KB08 Apr 2024 - A snapshot of the stocks on the move, featuring Alice Queen (ASX:AQX), Aurora Labs (ASX:A3D) and Qoria (ASX:QOR).
Elders shares slump amid climate and economic challenges
April 08, 2024 01:22 - 1000 KB08 Apr 2024 - Elders (ASX:ELD), Australia's foremost rural services group, encountered a significant blow on Monday as its shares plummeted nearly a quarter following a trading update.
Westgold acquires Kinora Resources amidst gold sector takeover
April 08, 2024 01:14 - 1000 KB08 Apr 2024 - In a recent development within the gold sector, Westgold Resources (ASX:WGX) has announced its acquisition of Kinora Resources, merely 11 days after Ramelius Resources (ASX:RMS) abandoned its pursuit of the Canadian-based Australian gold company.
Westgold acquires Karora Resources amidst gold sector takeover
April 08, 2024 01:14 - 1000 KB08 Apr 2024 -In a recent development within the gold sector, Westgold Resources (ASX:WGX) has announced its acquisition of Karora Resources, merely 11 days after Ramelius Resources (ASX:RMS) abandoned its pursuit of the Canadian-based Australian gold company.
Ansell suspends shares ahead of $975 million acquisition of Kimberly-Clark's PPE business
April 07, 2024 23:34 - 1000 KB08 Apr 2024 - Medical products and protective wear group, Ansell (ASX:ANN) had its shares suspended on Monday ahead the announcement of its proposed acquisition of the personal protective equipment business of giant US paper products group, Kimberley-Clark.
Silver Lake Resources reports increase in gold and copper sales for March quarter
April 07, 2024 23:16 - 1000 KB08 Apr 2024 - Silver Lake Resources (ASX:SLR), a prominent player in the gold and copper mining sector, has announced a rise in gold and copper sales for the March quarter. However, investors will have to wait until late April to access comprehensive data on production, costs, and prices.
US investors: Confused or fixated on falling interest rates?
April 07, 2024 21:47 - 1000 KB08 Apr 2024 - Are US investors confused, or so besotted with the idea of falling interest rates that they ignored the strongest single month's jobs figures for a year, and ended four losing sessions to charge higher on Friday?
US economic strength on the rise
April 07, 2024 21:45 - 1000 KB08 Apr 2024 - Wednesday's US consumer inflation figures pose a significant test for an economy that appears to have hit bottom at the close of 2023 and is now gaining momentum, despite interest rates being at their highest in years.