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BHP boss says nickel business has been making a loss for years as Nickel West hangs in the balance

BHP boss says nickel business has been making a loss for years as Nickel West hangs in the balance

In short: BHP’s boss doesn’t expect its nickel operations will be profitable before the end of the decade, as it considers mothballing its Nickel West business after the price of the metal plummeted. Mike Henry says its iron ore division is well-prepared to manage China’s plateauing steel demand and increased competition from other miners in the...

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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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Passing on higher prices risks making inflation worse, but Gerry Harvey says that’s the cost of doing business

Passing on higher prices risks making inflation worse, but Gerry Harvey says that’s the cost of doing business

Billionaire retail mogul Gerry Harvey says businesses are justified in passing on cost increases through higher prices to maintain their profit margins and prevent bankruptcies, despite the Reserve Bank warning it could lead to higher inflation. Key points: Harvey Norman chairman Gerry Harvey says businesses are well within their rights to pass on higher costs...

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Downer profit halves, named as co-defendant in leaky building claim

Downer profit halves, named as co-defendant in leaky building claim

The new Karanga-a-Hape Station under construction last year. Photo / Michael Craig New Zealand’s biggest infrastructure business pushed up revenue 26 per cent to $2.3 billion in its latest year but rising costs hit the bottom line to halve profit. Yesterday, Australian-owned Downer New Zealand filed its accounts with the Companies Office for the year...

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Dr Lee made $800k in three hours selling products online. Some say that must stop

Dr Lee made $800k in three hours selling products online. Some say that must stop

Read this story in Indonesian/Baca dalam Bahasa Indonesia Indonesian beauty specialist Richard Lee made $800,000 in less than three hours selling his skincare products in a live shopping stream in August. “We aimed for 2 billion (rupiah) in two-and-a-half hours but we got eight billion (rupiah) instead!” said Dr Lee, in a recording of the stream posted on...

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Qantas is no stranger to turbulence, but it’s flown headfirst into controversies it didn’t see coming

Qantas is no stranger to turbulence, but it’s flown headfirst into controversies it didn’t see coming

Alan Joyce thought he was leaving Australia’s flying kangaroo in great shape. The final months of 2023 were meant to be the Qantas chief executive’s swan song as he prepares to depart the airline after 15 years in the top job. The company had just delivered a $2.5 billion record profit before tax, and had signalled money would...

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Utah vs. Florida prediction, odds: Expert Week 1 College Football pick

Utah vs. Florida prediction, odds: Expert Week 1 College Football pick

Commercial content 21+. Howie Kussoy, aka the Pigskin Profit, makes a pick the host Utah Utes and the Florida Gators on Thursday night. We open Week 1 of the college football season with Florida vs. Utah as the Utes look to stomp the Gators back to their swamp in Gainesville. They upset the Utes last...

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Minister walks back comments that government intervened to protect Qantas’ profits

Minister walks back comments that government intervened to protect Qantas’ profits

The assistant treasurer has walked back comments that the federal government was protecting Qantas’ record profit margins when it moved to block Qatar Airways from expanding its services in Australia. Key points: Stephen Jones says it is not controversial to say Qantas must remain profitable The government is defending a move to block Qatar Airways...

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As Alan Joyce prepares to take flight from Qantas, taxpayers are left to foot the bill

As Alan Joyce prepares to take flight from Qantas, taxpayers are left to foot the bill

This wasn’t the heroic ending he envisioned.  Qantas workers have beaten the company in court over illegal sackings. Customers have launched a class action over the airline’s tardiness in handing back more than half a billion dollars in flight credits. And now, instead of adulation after delivering the airline back to good financial health, Alan...

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Qantas accused of ‘misleading the Australian public’ after admitting $100m flight credits owed to Jetstar customers

Qantas accused of ‘misleading the Australian public’ after admitting $100m flight credits owed to Jetstar customers

Qantas has admitted to not disclosing the true value of unredeemed flight credits, during a fiery Senate committee hearing in Melbourne, after outgoing chief executive Alan Joyce was accused of “misleading the Australian public”. Key points: Qantas boss Alan Joyce faced questions over rising profits and airfares despite growing customer dissatisfaction Jetstar CEO Steph Tully...

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Qantas records $1.7 billion profit after years of COVID-induced turbulence

Qantas records $1.7 billion profit after years of COVID-induced turbulence

Qantas has recorded an annual profit of $1.7 billion in the last financial year, a dramatic turnaround from a loss of $860 million a year earlier.  Its preferred underlying pre-tax profit measure figure is $2.5 billion pre-tax, and comes after Qantas posted a $1.4 billion profit in its half-yearly results in February. Its underlying pre-tax...

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