ISPT, one of the country’s biggest property investors for industry superannuation funds, has plunged to a $1.5 billion loss in its flagship vehicle as real estate values fell and the cost of servicing its debt rose. It is one of the biggest single losses in the property sector over the past year… Read More »Big industry super property fund plunges to $1.5b loss on write-downs
The Minns NSW government and Transurban are at loggerheads over how to reduce the long-term costs to taxpayers and motorists from Sydney’s sprawling toll road network. Toll roads seemed such a painless way for state governments – particularly in NSW – to get credit for delivering better roads without having… Read More »Transurban tolls hit NSW roadblock
Source: https://www.cnbc.com/2024/11/09/bull-market-revs-back-up-on-trump-enthusiasm-as-traders-race-to-grab-small-caps-banks-and-tesla.html
The Minns government is ramping up pressure on Transurban to overhaul its toll road contracts in NSW, arguing that baked-in increases add costs not just to households but to businesses, one of which is paying more than $7 million a year in charges to move goods around Sydney. Data from… Read More »One business is paying $7.4m in Sydney road tolls
Poor liquidity management by the $3.9 trillion superannuation sector could threaten financial stability similar to the near-collapse of pension funds in Britain in 2022 after a rush on margin calls, the Reserve Bank has warned. RBA governor Michele Bullock told senators the sector’s sheer size meant it could “exacerbate ructions in the… Read More »UK pension fund crisis shows super risk to markets in Australia: RBA
The Australian sharemarket is poised to retreat on Monday as investors turn increasingly negative on already bruised mining companies after authorities in China failed to impress with their latest stimulus package. Futures indicate the S&P/ASX 200 will fall 0.4 per cent, or 36 points, at the opening bell on Monday.… Read More »ASX to open lower as Beijing stimulus plans fail to excite investors
The stock market climbed to another round of records on Friday, as the Dow and S&P 500 wrapped up their best week in a year after Donald Trump’s election win. The Dow Jones Industrial Average rose 259.65 points, or 0.59%, to close at 43,988.99. The blue chip average traded above 44,000 for… Read More »Dow tops 44,000 for first time, S&P 500 closes at record high to cap election week rally: Live updates
It’s been a tumultuous time for AGL Energy, the $7.7 billion electricity and gas giant backed by billionaire businessman Mike Cannon-Brookes, with plenty of hand wringing about the company’s strategy. Now that this has been ironed out – and with shares up more than 10 per cent since the start… Read More »AGL Energy prepares to unveil big batteries play; acquires Firm Power
Aurizon must convince investors its prospects for earnings growth are sound after the stock suffered a 9 per cent drop on a lower than expected full-year profit result. The 25 per cent jump in 2023-24 net profit to $406 million and a $150 million share buyback failed to hearten investors,… Read More »Aurizon tumbles on weak earnings outlook
Hedge funds in Asia are increasingly targeting Australian mining companies betting that the rout in the sector will deepen from weak commodity prices and the threat to earnings from elevated costs this reporting season. Of the top 20 most shorted stocks on the ASX last week, 15 were mining companies,… Read More »Asian short sellers are ramping up bets against Australia’s miners