Business

AustralianSuper fined A$27 million for failing to merge duplicate accounts

Australia's largest pension fund AustralianSuper fined $17.3 million for failing to merge duplicate accounts, affecting 90,700 members and causing $69 million in losses.

Published on: February 21, 2025, 06:00 AM UTC

Standard Chartered Reports 18% Profit Surge, Announces Share Buyback and Higher Earnings Target

Standard Chartered announces $1.5 billion share buyback and raises earnings target after reporting 18% profit growth.

Published on: February 21, 2025, 05:00 AM UTC

KKR Said to Draw Interest for Goodpack in Potential $1.5 Billion Sale

KKR is exploring a potential sale of Goodpack, attracting interest from global investment firms such as Apollo, I Squared Capital, and Stonepeak Partners.

Published on: February 21, 2025, 04:00 AM UTC

Abrdn in Talks With Citic Bank for China Asset Management Joint Venture

Abrdn is in talks with Citic Bank to launch an asset management joint venture in China, as the British firm looks to bolster its presence in the world's second-largest economy.

Published on: February 21, 2025, 04:00 AM UTC

RBA Cautions Against Expectations of Further Immediate Rate Cuts

Australia's Reserve Bank is cautious about further rate cuts due to labor market pressures, but will respond if inflation slows more than expected.

Published on: February 21, 2025, 03:03 AM UTC

Walmart Earnings: Tariffs, Conservative Outlook Weigh On Shares

Walmart's recent profit beat fails to excite investors as looming tariffs and conservative outlook weigh on the stock.

Published on: February 21, 2025, 03:02 AM UTC

South Korea Asks to Be Excluded From U.S. Tariffs

South Korea asks US to exclude it from tariffs, citing low duties on American products and large-scale business investments in the US.

Published on: February 21, 2025, 03:01 AM UTC

Telstra Misled Customers About Broadband Downgrading, Court Rules

Australian court rules Telstra misled broadband customers over speed downgrade, ACCC alleges. Telstra is facing penalties, compensation orders, and other decisions by the court.

Published on: February 21, 2025, 02:00 AM UTC

Xi Eased by Huawei's Belief in Chinese Tech Strength

Huawei's founder tells Xi Jinping that China's concerns about a lack of homegrown chips and operating systems have eased.

Published on: February 21, 2025, 02:00 AM UTC

Walmart Weathers Trade Storm, But Costs Could Rise for Consumers

Walmart (WMT) shares slide over 6% on conservative guidance and tariff concerns. CFO Rainey says tariffs could hurt general merchandise category, but Walmart's scale and private labels could help offset costs.

Published on: February 21, 2025, 01:02 AM UTC