Australia’s most popular ETF (ASX:VAS) has a lot more competition this week with BlackRock and BetaShares announcing massive cuts to their fees for their rival products. 1. ETF wars BlackRock and BetaShares are both slashing fees on their ETFs that track the ASX200. BlackRock led the charge by cutting the management fee on their ASX200 ETF […]
A big week of reporting on the ASX saw strong results from retailers while e-commerce businesses that benefited from lockdowns continue to struggle. 1. Retail Therapy is real Several Australian retailers have reported positive financial results for the first half of the financial year. Wesfarmers reported a 14.1% increase in net profit to $1.384 […]
Disney is set to cut 7,000 jobs from its workforce as part of a global restructuring strategy that will see the entertainment company save $5.5 billion. 1. Not a Disney Fairytale Disney has announced that it will cut 7,000 jobs from its 220,000 global workforce as part of a cost-cutting initiative aimed at streamlining the company. […]
Apple, Google, Snapchat and Meta all reported their quarterly earnings this week. 1. Moderately happy Wall Street is showing some signs of recovery in 2023. Amazon’s top-line growth was better than expected in Q4, with revenue reaching $149.2 billion, a nine per cent year-over-year increase. Its bottom line still fell short due to higher costs, […]
Tesla’s earnings have increased by an impressive $400 million in the last quarter, making headlines worldwide. 1. Guess who’s back Tesla has reported record Q4 2022 earnings of $3.7 billion, despite facing challenges such as slowing economic growth and rising interest rates. CEO Elon Musk acknowledged that 2022 was a challenging year, but emphasized the […]
Virgin Australia is considering a new IPO, just 2 years after entering voluntary administration. 1. Prepare for landing Virgin Australia Holdings is beginning discussions for an initial public offering (IPO) in 2023 with the aim of raising $1 billion, according to reports. The IPO comes after the company was placed into voluntary administration in 2020 and […]
Chat GPT: the AI-powered chatbot makes headlines this week. 1. ChatGPT, fix my Excel sheet Microsoft is reportedly considering investing $10 billion in language model provider OpenAI, the company behind ChatGPT, a cutting-edge AI language model. The investment would give Microsoft a significant stake in the company and provide OpenAI with the resources to […]
Signing off for 2022, have a safe and happy holiday! We’ll see you soon in 2023 ~ The Superhero Team 1. Swoosh of approval Shares in the world’s largest sportswear maker, surged 13 per cent in after-market trading after Nike’s earnings and revenue exceeded expectations. The Oregon based company reported its best quarterly revenue growth in more than a […]
This week SBF gets arrested, Musk finds himself in second place and Avatar returns after more than a decade. These are the five big stories from the week that was. 1. I’m Blue (Da Ba Dee) James Cameron’s highly anticipated “Avatar: The Way of Water” is set to take the box office by storm, with […]
This week SpaceX sells to the government, flights hit a 15-year high and Apple shows its patriotism. These are the five big stories from the week that was. 1. Space Force Elon Musk’s SpaceX is launching further into space with its new business line Starshield, expanding its Starlink satellite technology into military applications. Unlike its […]
The world’s richest man Elon Musk has picked a fight with its most valuable company, Apple. But while their brief feud took over headlines, Musk’s EV-maker Tesla and Apple were facing their own issues behind closed doors. These are this week’s biggest stories. 1. Rock ‘em, sock ‘em Elon Musk went to war with […]
Retail stocks like Abercrombie & Fitch get a boost as Black Friday arrives, Mark Zuckerberg gets stung by fake Meta news and Disney brings back its old CEO. These are the 5 big stories from the week that was. 1. So Fitch It’s not often a retail stock jumps 36% in a week but that’s […]