Virus causing global economic ripples
The economic impact of the coronavirus outbreak is becoming evident, on the sharemarket, in workplaces and schools, and in cancelled public events.
IAG, owner of British Airways and Iberia, says the effects of the coronavirus could force some troubled airlines out of business.
Horizon Oil says it has terminated the employment of suspended CEO Michael Sheridan as a probe into an alleged $15 million payment in PNG continues.
The Australian share market has now dropped 10.6 pct from its high set last Thursday, a dramatic drop that has put it in correction territory.
Harvey Norman’s overseas stores are propping up the business, with first half profit down 4.0 per cent amid tough trading conditions in Australia.
Japara Healthcare’s net profit after tax has dropped 28 per cent to $5.42 million in the half-year ended December 31.
Business investment slumped by a worse-than-expected 2.8 per cent during the December quarter, increasing the likelihood of a rate cut in the coming months.
Retail Food Group has turned a first-half profit for the first time since 2017 as it continues its journey back from the doldrums.
Buy now, pay later operators Afterpay and Zip have reported wider losses, but say hiring and marketing costs are helping make the product a success.
Flight Centre reported a statutory profit after tax of $22.1 million, down from $85 million the year before.
Surging infant formula sales in China have helped drive an increase in first half profit for NZ dairy firm a2 Milk.
Air New Zealand is slashing capacity in Asia as it works to reduce the impact of the coronavirus on its earnings.
Rio Tinto has posted its best underlying earnings since 2011, with underlying earnings for the full year ended December 31 rising to $A15.76 billion.
Australian Ethical says its first-half profit rose 40% as it added thousands more superannuation members passionate about ethical investments.
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