AFN Highlights for Tuesday, April 16

RBA minutes

Reserve Bank board members said a lift in the unemployment rate and stagnant inflation could warrant a cash rate cut, but conditions did not justify reducing it from a record low 1.5 per cent this month.

Bupa

The consumer watchdog is taking healthcare provider Bupa to court for allegedly making false and misleading claims about the services it provides at more than a quarter of its aged care facilities.

Blackmores

Vitamin maker Blackmores has reported a 14.3 per cent fall in net profit for the first nine months, as the company continues to grapple with softening demand from its largest Asian market, China.

Mortgages

Fewer mortgages were issued in the the first three months of the year than anytime in the past six years, according to new figures that provide fresh evidence into the fragile state of Australia’s property market.

Housing

More than half of Sydney homebuyers would have been better off renting and investing elsewhere over the past 25 years, according to new research.

Oil Search

Oil Search says its first-quarter revenue fell 21 per cent from the preceding quarter, due mainly to the timing of liquefied natural gas shipments and weaker oil and gas prices.

Rio Tinto

Mining giant Rio Tinto has reported a 14 per cent drop in quarterly iron ore shipments and cut its 2019 shipments estimate on disruption caused by a tropical cyclone which hit its export terminal in Western Australia last month.

Lynas

Takeover target Lynas Corp Ltd on Tuesday reported a 32.5 per cent rise in production of rare earths oxides during the quarter, as it fends off a takeover offer from retails-to-chemicals conglomerate Wesfarmers Ltd .

Coca-Cola Amatil

Beverage giant Coca-Cola is doubling the amount of recycled plastic it uses across its Australian beverage arm, with seven in 10 drink bottles to be made from 100 per cent recycled materials by the end of 2019.

Tax

Both sides of politics are trying to convince Australians that they will be better off under their promised tax cuts before voters go to the polls next month.

Petrol

Australians filling up their tanks for school holiday Easter road trips are paying the highest price for unleaded petrol since November.

 

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