Business
Companies
Prosecco over champagne, mince over steak: Coles shoppers trade down, down
Australia’s second-largest supermarket chain is readying for a Christmas spent at home – but its first-quarter results have undershot expectations.
- by Jessica Yun
Latest
Facebook parent Meta posts bumper result, but outlook is ‘uncertain’
The owner of Facebook, Instagram and WhatsApp unveiled its strongest growth in two years, but warned the economic outlook may hurt its sales.
- by James Titcomb
Crown Resorts posts $199m loss as $3b expense bill wipes out profits
The casino giant’s profits have been wiped out for the third year in a row, but it’s a significant improvement on its near $1 billion loss in 2022.
- by Amelia McGuire
Tech billionaire Cannon-Brookes backs climate jobs platform
Terra.do was founded in 2020 and launched in Australia this week, with about 4500 clean energy jobs available across the country.
- by David Swan
Tabcorp shareholders protest against ‘excessive’ executive pay
Almost 35 per cent of shareholders voted against the wagering giant’s remuneration plan, arguing it did not match the company’s size and performance since demerging from The Lottery Corporation.
- by Amelia McGuire
Opinion
Executive shake-up
Continuous explosions: Magellan chief executive exits with a bang
It is paradoxical that Andrew Formica says the key to stemming the outflow of funds across Magellan’s products is to have “less noise” when the shock departure of the chief executive screams chaos.
- by Elizabeth Knight
Canned fruit giant SPC asks Goulburn Valley locals to tip in $20 million
The 106-year-old company is launching a capital raising to invite Goulburn Valley residents to become shareholders in the fruits and vegie business once more.
- by Jessica Yun
Woolies CEO promises cheaper groceries as meat and vegie prices ease
Customers put more items into their shopping trolleys in the September quarter, lifting Woolworths’ sales by 5.3 per cent, but the Christmas trading outlook is cautious.
- by Jessica Yun
Microsoft sales jump in AI arms race against Google
Sales at Microsoft have surged as the technology giant cashes in on the artificial intelligence (AI) gold rush in a race against Silicon Valley rival Google.
- by Matthew Field
Meta sued over claims Facebook and Instagram are harming kids’ mental health
Forty-two US states are taking legal action against the social media giant harming young people’s mental health by knowingly designing features on its platforms that addict children.
- by Barbara Ortutay
ABC boss grilled over Gaza conflict coverage
David Anderson has defended the broadcaster’s coverage of the Voice to parliament and conflict between Israel and Hamas in a strenuous Senate estimates session.
- by Calum Jaspan