July 23 – Australian shares rose on Tuesday to snap a three-session losing streak, with banking and technology stocks leading the rebound, while Lynas Rare Earths and Woodside emerged as the top losers after reporting dismal quarterly updates. The S&P/ASX 200 index climbed 0.6% to 7,976.5 by 0028 GMT. The Aussie dollar was 0.02% weaker...
Tag: woodside
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Why the global sharks are circling Australia’s gas export industry once more
For an industry entering its sunset years, Australian gas certainly is attracting an enormous amount of attention and money. Last week, that great laggard of the investment world, Santos, was rumoured to be in the sights of two of the world’s biggest fossil fuel outfits, Saudi Arabia’s Aramco and the UAE’s Abu Dhabi National Oil...
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Just how green is your super fund? Chances are your savings are being used to fund major fossil fuel projects
In short: Australian superannuation funds’ investment in fossil fuels has doubled over the past two years, a new report by an environmental advocacy group has found. The latest analysis by Market Forces shows investment in high-polluting companies rose from $19 billion to $39 billion since 2021, while clean energy investment decreased. What’s next? Super funds have come under increased scrutiny...
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‘Surplus to our business activity’: Gas giant Santos lays off about 200 Perth workers
In short: Santos is cutting 200 jobs across its operating sites, with Perth employees to be most affected. The gas giant has blamed slow project approvals as one of the reasons for the decision. What’s next? WA Premier Roger Cook said he believed the impacted staff would be given jobs elsewhere within the state’s resources sector. Gas...