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$3.55 billion COVID-19 impact knocks ANZ profit down 40 per cent

ANZ (ASX: ANZ) has seen its profits slide by 40 per cent during the 2020 financial year after $3.55 billion of impairment charges relating to the pandemic took their toll. The company managed to record a statutory profit of $3.58 billion for the year, and shareholders will still enjoy a final...

$3.55 billion COVID-19 impact knocks ANZ profit down 40 per cent
Business News Australia reports on business news, trends, and profiles for Melbourne business owners, executives and entrepreneurs.
Myer board cops first 'strike'
Myer board cops first 'strike'

Myer's (ASX: MYR) beleaguered board of directors copped another blow this afternoon when shareholders delivered...

COVID holiday from hell continues for Helloworld
COVID holiday from hell continues for Helloworld

Travel group Helloworld (ASX: HLO) is set to dip into its cash reserves to ride out what has been a 2020 COVID-19 h...

Short seller takes aim at Seek's Chinese subsidiary, alleges fake postings at "rotten" platform
Short seller takes aim at Seek's Chinese subsidiary, alleges fake postings at "rotten" platform

Short seller Blue Orca has online job search platform Seek (ASX: SEK) in its sights, alleging the company's Chi...

Shareholder revolt claims Myer chairman hours before AGM
Shareholder revolt claims Myer chairman hours before AGM

The chairman of an Australian retail icon has bowed to the inevitable and walked away from his position just hours ...

$3.55 billion COVID-19 impact knocks ANZ profit down 40 per cent
$3.55 billion COVID-19 impact knocks ANZ profit down 40 per cent

ANZ (ASX: ANZ) has seen its profits slide by 40 per cent during the 2020 financial year after $3.55 billion of impa...

Conviction a big fall for former rich lister Craig Gore
Conviction a big fall for former rich lister Craig Gore

At his height Craig Gore raised the ire of his neighbours who accused the former Gold Coast rich-lister of flying h...

REA Group takes a punt on Indian real estate with Elara acquisition
REA Group takes a punt on Indian real estate with Elara acquisition

The company behind realestate.com.au is set to spend $71-99 million to take a controlling interest in Elara&nb...

Victoria says "nay" to horse owner attendance at Melbourne Cup
Victoria says "nay" to horse owner attendance at Melbourne Cup

As Melburnians celebrate their first day of relative freedom after more than 100 days of lockdowns, the horse owner...

Australian businesses likely to pay off ransomware attacks, research shows
Australian businesses likely to pay off ransomware attacks, research shows

When businesses in Australia and New Zealand fall victim to ransomware attacks close to one in three will cough up ...

Board tenure unrelated to performance on ASX 300, study finds
Board tenure unrelated to performance on ASX 300, study finds

A recent report from Ownership Matters (OM) shows board turnover on ASX 300 companies is largely uncorrelated with ...

Blackmores to sell Global Therapeutics for $27 million
Blackmores to sell Global Therapeutics for $27 million

Blackmores (ASX: BKL) has today confirmed the divestment of subsidiary Global Therapeutics for $27 million to healt...

Scaling Up: The leap from sole trader to 'micro business' could unlock over one million jobs
Scaling Up: The leap from sole trader to 'micro business' could unlock over one million jobs

In a pandemic world where unemployment figures continue to climb, it is unusual to hear entrepreneurs talking about t...

Melbourne shops, cafes and bars to reopen from midnight tomorrow
Melbourne shops, cafes and bars to reopen from midnight tomorrow

Victorians will be out to celebrate after Premier Daniel Andrews announced an easing of restrictions will come into...

Noxopharm starts trial in COVID-19 treatment race
Noxopharm starts trial in COVID-19 treatment race

Burgeoning medtech company Noxopharm (ASX: NOX) is making strides in the effort race to find a treatment for COVID-...

Zip Co acquires fashion search engine The Urge
Zip Co acquires fashion search engine The Urge

If your business model revolves around helping retailers lift sales through buy-now-pay-later (BNPL) offerings, why...

Companies

Myer board cops first 'strike'
Myer board cops first 'strike'

Myer's (ASX: MYR) beleaguered board of directors copped another blow this afternoon when shareholders delivered...

Property

REA Group takes a punt on Indian real estate with Elara acquisition
REA Group takes a punt on Indian real estate with Elara acquisition

The company behind realestate.com.au is set to spend $71-99 million to take a controlling interest in Elara&nb...

Opinion

Scaling Up: The leap from sole trader to 'micro business' could unlock over one million jobs
Scaling Up: The leap from sole trader to 'micro business' could unlock over one million jobs

In a pandemic world where unemployment figures continue to climb, it is unusual to hear entrepreneurs talking about t...

Leadership

Shareholder revolt claims Myer chairman hours before AGM
Shareholder revolt claims Myer chairman hours before AGM

The chairman of an Australian retail icon has bowed to the inevitable and walked away from his position just hours ...

Entrepreneurship

Victorian manufacturer crafts ventilator for COVID-19 from scratch
Victorian manufacturer crafts ventilator for COVID-19 from scratch

A new ventilator specifically designed for COVID-19 patients has been designed in Ballarat, Victoria with manufactu...

Technology

REA Group takes a punt on Indian real estate with Elara acquisition
REA Group takes a punt on Indian real estate with Elara acquisition

The company behind realestate.com.au is set to spend $71-99 million to take a controlling interest in Elara&nb...

Conviction a big fall for former rich lister Craig Gore
Conviction a big fall for former rich lister Craig Gore

At his height Craig Gore raised the ire of his neighbours who accused the former Gold Coast rich-lister of flying h...

Finance

Myer board cops first 'strike'
Myer board cops first 'strike'

Myer's (ASX: MYR) beleaguered board of directors copped another blow this afternoon when shareholders delivered...

Marketing

IVE Group to lose millions as Coles ditches printed catalogues
IVE Group to lose millions as Coles ditches printed catalogues

Just nine months after spending $25 million on a catalogue distribution business, one of IVE Group's (ASX: IGL...

Executive Lifestyle

Conviction a big fall for former rich lister Craig Gore
Conviction a big fall for former rich lister Craig Gore

At his height Craig Gore raised the ire of his neighbours who accused the former Gold Coast rich-lister of flying h...

Conference And Events

Confidence in conferencing grows on the Gold Coast
Confidence in conferencing grows on the Gold Coast

After months of limited event activity, the Gold Coast Convention and Exhibition Centre (GCCEC) is witnessing a sur...

Video

Adelaide robo-welders K-TIG list on the ASX
Adelaide robo-welders K-TIG list on the ASX

Following an oversubscribed $7 million capital raise Adelaide-based disruptors K-TIG have listed on the ASX under ...

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