Bunnings headed for Brexit disaster: BAML
BUNNINGS’ $700 million UK expansion could be in for a world of hurt following the shock Brexit vote last week, analysts have warned.Bank of America Merrill Lynch believes the vote to leave the European Union will plunge the UK economy into recession, just when Wesfarmers is trying to turn around the struggling Homebase stores which it acquired earlier this year.In a note late last week, reported by The Australian, BAML analyst David Errington said Wesfarmers could minimise its losses to the $700..>> view originalGuvera places two subsidiaries in administration after ASX rejected IPO
How streaming is saving the music business Guvera is aiming to reduce its monthly cash burn to about $1.6 million and will cut about 60 jobs after a knockback of the embattled music streaming company's initial public offering has left it scrambling to stay afloat.A source close to the company confirmed the job losses to The Australian Financial Review, after the company said in a statement it had placed two of its subsidiaries in voluntary administration on Monday.Guvera is also..>> view originalLen Ainsworth's $500m sale approved
Sky and Space Global lands Branson deal
Sky and Space Global lands Branson dealSky & Space Global CEO Meir Moalem (left) and chief technology officer Meidad Pariente (right). Source: Supplied.ASX-listed satellite firm Sky and Space Global has landed a deal with Sir Richard Branson’s Virgin Galactic to launch up to 200 nanosatellites in 2018. The UK-based firm, led by former Israeli fighter pilot Meir Moalem, said it would launch the nanosatellites — which are about 80 per cent cheaper than traditional satellites — with Virgin Galactic..>> view originalAustralian bank stocks stand out in a troubled world
Britain is all at sea following the vote to leave the EU. Illustration: David Rowe Australia's big four bank stocks stand out like knights in shining armour in a world left dazed and confused by Britain's vote to leave the European Union.After several months being pounded in the heat of the election campaign events are starting to turn in the bank's favour, including the fading prospect of a Labor Party victory on Saturday.The first and most o..>> view originalWoodside shaves cost of Greater Enfield development
New oil and gas projects are rare at a time of low energy prices. Photo: Michele Mossop Woodside Petroleum has moved to take advantage of the decline in project construction costs to commit to the $US1.9 billion development of the Greater Enfield oil project off Western Australia, which will also help to support earnings during a period of low oil and gas prices.The oilfield is about 60 kilometres off the Exmouth Plateau and Woodside, and its partner Mitsui a..>> view originalTen times faster than NBN as Adelaide follows Chattanooga
by Simon Evans Chattanooga in Tennessee is an unlikely role model but companies based in certain business precincts in Adelaide will be offered internet speeds at least 10 times the speed of the National Broadband Network as the city becomes the first in Australia to join the growing Gig City movement.In practical terms, the lightning-fast download speeds and fatter "pipes" which come from the existing SABRENet network which already connects South Australia's univer..>> view originalUK pound hits 31-year low against US dollar
'Bondi hoarders' case: Sale called off as owners come up with last-minute money
'Bondi hoarders' case: Sale called off as owners come up with last-minute money Updated June 27, 2016 21:34:54 The forced sale of the so-called Bondi hoarders home has been called off after the owners came up with enough money to stop an auction.Waverley Council in Sydney's Eastern suburbs has been in a dispute with the family for more than 20 years over the state of their garbage-strewn property.The Sheriff's office had authorised the sale of the Bobolas family's Boona..>> view originalQld rail funding not political: Trad
The coalition has hit back at Queensland's Labor government for expecting a green light for hundreds of millions of dollars in funding for a major project in the dying days of the federal election campaign.Transport and Infrastructure Minister Darren Chester said he supported the Cross River Rail project, which would see a second river rail crossing in Brisbane's CBD, but the coalition could not commit funds on short notice.Queensland's cabinet waited until Monday to announce $800 million for Br..>> view original
Tuesday, June 28, 2016
Bunnings headed for Brexit disaster: BAML and other top stories.
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