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The Australian share market snapped a two-day profitable streak to shut in the pink, weighed down by banks, miners, well being shares and profit taking. Coronavirus restrictions slashed TPG Telecom’s margins for mobile phone roaming whereas retail retailer closures lowered gross sales, the company’s first post-merger monetary results present. West Australian shipbuilder Austal says the defence vessel market is strengthening and has been largely shielded from the COVID-19 pandemic. The sale of an Australian dairy business to a Chinese company has been deserted after Treasurer Josh Frydenberg deemed it “against the national interest”.

Major jewelry retailer Lovisa’s profits have tumbled as forced retailer closures through the coronavirus pandemic lockdown stifled sales...

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Supermarket large Coles has posted retail revenue rise as shelf-stripping panic buying through the pandemic prompted a sales surge. Australian biotechnology big CSL has flagged manufacturing 100 million doses of a COVID-19 vaccine by mid subsequent 12 months and reported higher full-yr earnings. The pandemic-induced growth in on-line purchasing has driven a surge in Wesfarmers’ income, with Bunnings again proving the money cow. New figures reveal the effect Victoria’s lockdown and newly imposed journey restrictions have had on business activity across Australia.

One of Australia’s biggest highway builders and toll suppliers Transurban says coronavirus has severely affected its operations, with an enormous drop site visitors...

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President Donald Trump’s re-election over Democrat Joe Biden, arguing as their convention opened for a second day that Trump’s leadership was very important to the nation’s economic and political future. Nearly 2,000 Hong Kong and worldwide artists and cultural workers said in a press release the safety law created “a local weather of fear and self-censorship”. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp’s partners. US consumer confidence fell for second straight month in August as households apprehensive concerning the financial outlook.

The proprietor of luxury wine brand Penfolds says the coronavirus pandemic has impacted the company’s ability to promote wine in major abroad markets...

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The quick meals large says the slogan might be paused as it “does not fairly fit” in the course of the pandemic. A take care of creditors will safe the airline’s future for the following 18 months and save 6,500 jobs.

The Australian share market closed higher after sturdy positive aspects amongst health shares however banks had been a drag, especially Westpac. One of Australia’s main banks has decided it’s going to pay shareholders an interim dividend regardless of ongoing challenges caused by coronavirus. The lockdown closure of pubs, clubs and TABs has hit Tabcorp onerous, leaving the company centered on digital opportunities and paying down debt...

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Carmakers and tech corporations warn prices of 5G gadgets and linked cars will rise if motion isn’t taken. President Trump had previously postponed the trade assembly as he didn’t “need to speak to China right now.” The airline agreed the £1.2bn rescue deal in July to secure its future past the coronavirus crisis.

Qantas has axed certainly one of its high executive positions because the airline continues to cut staff numbers to reduce operating prices. Monash IVF has suffered a revenue plunge due to the suspension of all non-urgent elective surgery in the course of the COVID-19 pandemic. Buy now pay later corporations had been among the many winners on the Australian stock market, together with Afterpay, which announced an enlargement into Europe via an acquisition.

The Australian share ...

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Top U.S. and Chinese trade officials reaffirmed their commitment to a Phase 1 trade deal, which has seen China lagging on its obligations to buy American goods, giving a lift to financial markets on Tuesday. Sydney Airport has revealed the crippling extent of the financial harm attributable to the pandemic journey bans – warning job losses are on the table. A main shopping centre group has taken a big revenue hit and doesn’t count on to recuperate some unpaid hire as retailers struggle amid the pandemic. The Australian share market finished firmly above the 6100-level mark on Tuesday, with banks and large miners among the many winners. The Commonwealth Bank’s cash earnings have taken a hit as the impact of the coronavirus downturn ripples through the trade.

Vitamins juggernaut Blackmo...

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