CSL shares sank the most on record after the biotech giant unveiled disappointing earnings and a cost-cutting restructure that includes spinning off its vaccine business. BHP’s underlying profit fell more than a quarter to the lowest level since the pandemic as softening Chinese demand weighed on prices for iron ore and coking coal. Consumer sentiment surged to a three-year high after the RBA cut interest rates last week, according to a Westpac survey. A fire at an Australian mine has led to a dispute over a proposed $3.8 billion sale of Anglo American’s steelmaking coal business to Peabody Energy. Santos shares fell after the company said a proposed takeover by an Abu Dhabi-led group faced further delays. Australian Treasurer Jim Chalmers is hosting a gathering of politicians, experts and business leaders to discuss productivity this week. Speaking on Bloomberg TV’s Australia Ahead, e61 Institute CEO and former Australian Productivity Commission Chair Michael Brennan says a more dynamic labor force is required to achieve the nation's goals. Click image to watch. Click image to watch. New Zealand’s population growth fell to the slowest pace in almost three years in a sign a sluggish economy is deterring immigrants and prompting citizens to leave. Liquefied natural gas demand and prices will rise through the end of the year, according to Woodside Energy’s Chief Executive Officer Meg O’Neill. The company reported underlying attributable profit fell 24% from a year earlier in the half. |