AGL Energy has fallen to an annual loss of $1.26 billion as the energy giant begins to wind down its coal power plants. Underlying profits showed signs of health, thanks to higher wholesale energy prices.
By Charlie Ormond,
In a tense back-and-forth deal, InvoCare has agreed to a $1.2 Billion takeover bid by TPG Capital to purchase the funeral director and cremation company.
By Charlie Ormond,
PSC Insurance has made a $25.2 million bid for Ensurance this morning, with parties signing a binding scheme of implementation deed. The deal would see PSC pay a 40% premium on the share price of Ensurance of 26.8 cents per share.
By Charlie Ormond,
Myer’s shares dropped 13% due to decreased sales in the second half, signalling tough times ahead for retailers as consumers feel the impact of interest rate hikes on their wallets.
By Charlie Ormond,
After five months of pursuit, the board of Estia Health have agreed to the revised offer of $838 million from US private equity firm Bain Capital. The deal, subject to shareholder approval, will see the firm buy Estia for $3.20 per share, a 50% premium from the initial time of the offer.
By Charlie Ormond,
Former Twitter founder Jack Dorsey’s fintech baby Block Inc has seen its shares tumble by 10.16% today, despite beating quarterly earnings and raising its forecasts for the year.
By Charlie Ormond,
Link Administration Holdings shares are down by 3.85% after releasing preliminary FY23 results showing a loss of $418 million from a £235 million UK settlement related to its soon-to-be ex-British company’s involvement with a failed equity fund.
By Charlie Ormond,
DroneShield shares are up by 7.5%, trading at 32 cents after the company announced the launch and initial order of its targeted area-specific Satellite Denial Systems by a Five Eyes alliance member.
By Charlie Ormond,
Credit Corp group released its FY23 results showing the company had an NPAT of $91.3 million, down by 5% from last year, despite growth in its books. It seemed like sluggish US collections, and a rising headcount dragged the debt company down.
By Charlie Ormond,
The ASX 200 Energy (XEJ) Index was up 4.7% this week, bringing its last 12 months’ gains to 15.42%. This has occurred as Brent Crude edged above $84 a barrel yesterday for the first time since April, while WTI Crude also crossed $80 per barrel.
By Charlie Ormond,
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