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ASIC To Investigate ASX Crash

Computer Daily News November 24, 2020 No Comments

SYDNEY: Last week’s software glitch that brought the ASX tumbling down for most of a day is currently being investigated by the corporate regulator ASIC. The ASX was open for…

Kogan Sales Figures Won’t Hold Up Post Pandemic, Warns Morningstar

Jake Nelson November 23, 2020 No Comments

Kogan shares have been “materially overvalued”, a financial services firm has warned, with investors wrongly expecting the current online sales surge to last. Morningstar believes that Kogan’s current high sales…

David Jones Still In A Dark Place As Profits Evaporate

David Richards November 20, 2020 No Comments

As retailers Harvey Norman and JB Hi Fi report record sales and Wesfarmers stores surge, David Jones has gone in the opposite direction with sales slumping 11.7% for the first…

Kogan, Shafer Greed Set To Be Explosive Issue At AGM Tomorrow

David Richards November 18, 2020 No Comments

After already pocketing $350 Million Ruslan Kogan the CEO of kogan.com and CFO David Shafer now want another $90M and that move has upset shareholders despite Shafer and Kogan working…

Cellnet On A Roll Sales Up 18%, Profits 410% As Demand For Accessories & Gaming Soar

David Richards November 16, 2020 No Comments

Brisbane based distributor Cellnet has reported an 18% jump in revenues driven by COVID-19 and demand for smartphone accessories, profit is up 410% year on year. The turnaround comes after…

Bunnings, Officeworks And Catch Fuel Wesfarmers COVID Success

Jake Nelson November 12, 2020 No Comments

Bunnings and Officeworks have delivered strong results for Wesfarmers to start the financial year, with each growing around a quarter in the year to date. Bunnings, Wesfarmers’ biggest business, posted…

Toll’s Global Express Worth $3.2bn, Says Japan Post Bankers As They Flog It

Jake Nelson November 11, 2020 No Comments

Leaked papers have described Toll Group’s Global Express unit as a $3.2 billion business, as owner Japan Post seeks to offload it. In a sales pitch from Japan Post bankers…

Harvey Norman Directors Take Big Hit As Retailer Named & Shamed

David Richards November 11, 2020 No Comments

Already in strife over their ‘shonky’ store financing practices, Harvey Norman directors are facing a $14M+ hit this morning despite record COVID-19 revenues. According to consumer group Choice, whose decisions…

Stay At Home Stocks Plunge On Vaccine Breakthrough News, Zoom Hit Badly

David Richards November 10, 2020 No Comments

As ASX stocks climb sharply higher after Pfizer and BioNTech revealed a COVID-19 vaccine breakthrough, shares in stay at home companies such as Netflix, Zoom and PayPal have plummeted. In…

Harvey Norman CEO Warns RBA Jumped The Gun With Historic Rate Cuts

April Glover November 4, 2020 No Comments

Harvey Norman CEO Gerry Harvey has labelled the Reserve Bank Of Australia’s rate cuts as “overkill” and says the lender should have kept something up its sleeve in case the…