Medibank faces a $250 million capital reserve requirement as punishment by the APRA for last October’s massive data breach in which the data of 9.7 million customers was stolen. Shares have remained resilient to the news, up by 1.71%, trading at $3.56 per share.
By Charlie Ormond,
Best & Less Group Holdings made news by announcing softening trading conditions as total sales went down by 11.7%. In response, BST began clearing winter stock to meet current demand and maintain inventory quality.
By Charlie Ormond,
Today, Rio Tinto announced that it will invest more than US$800 million (AU$1.18 billion) into its Kennecott operation. With the investment, RIO plans to increase copper production, expand its underground mine and upgrade processing at its new smelter.
By Charlie Ormond,
Today, the ACCC Tribunal blocked an appeal by Telstra and TPG for the proposed MOCN deal between the two. The regional network deal was worth approximately $1.8 billion and would have seen the two telcos share network assets in direct competition with Optus.
By Charlie Ormond,
Avita Medical shares are down by 4.2% despite positive news as the company announces FDA approval of its breakthrough RECELL skin repair system for vitiligo patients.
By Charlie Ormond,
Biome Australia shares are up by 16.18% after news FY23 sales revenue target of $7 million has been hit with half a month of trading remaining in the quarter. This is after their flagship Activated Probiotics product range finds interest through distribution channels growth throughout Australia, the UK, and NZ.
By Charlie Ormond,
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