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BlueScope posts steady profit result while positioning for ongoing carbon transition challenges

BlueScope posts steady profit result while positioning for ongoing carbon transition challenges

In short: BlueScope posts $439 million half-year profit result for the first half of 2024 financial year. The company says it’s continuing to invest heavily in steelmaking assets in Australia, the United States and New Zealand. What’s next? A carbon reduction grant from the federal government will go towards the $1 billion-plus blast furnace reline program...

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Bank’s $7b cash windfall

Bank’s $7b cash windfall

Australian banking giant ANZ has reported a profit of more than $7 billion despite facing “external challenges”. The big four bank announced on Monday an audited profit of $7.09 billion for the full year ending September 30, 2023. The banking giant’s cash profit also rose in 2023 by 14 per cent to $7.4 billion compared...

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‘I am sorry’: Qantas CEO issues second apology

‘I am sorry’: Qantas CEO issues second apology

Freshly minted Qantas chief executive Vanessa Hudson has issued a second apology as the airline’s woes continue to mount, promising to make changes to win back customers’ trust and rebuild the company’s flagging reputation. Ms Hudson took the reins at Qantas earlier this month after former chief executive Alan Joyce exited the airline two months...

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Politicians admit to Qantas chairman lounge memberships

Politicians admit to Qantas chairman lounge memberships

All three current MPs appearing on Monday’s episode of Q+A admitted to maintaining exclusive Qantas chairman lounge memberships despite criticising the airline for alleged misconduct. Only moments after stating he was “trying not to” fly with Qantas as a “statement” against the airline’s practices, National MP Kevin Hogan revealed he still held a the exclusive...

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Coles Group posts eye-watering profit

Coles Group posts eye-watering profit

Supermarket giant Coles has announced a profit boost over the 2022-23 financial year as rising inflation prompted the cost of grocery items to lift. On Tuesday, the retailer posted a $1.1bn net profit for the 12 months to June 2023, up 4.8 per cent on its 2021-22 profit result. Despite consumers feeling the pinch, revenue...