Palmer says Labor made approach for deal

Palmer says Labor made approach for deal

Clive Palmer speaks to reporters outside the Supreme Court in Brisbane after losing after losing a court application in relation to liquidators pursuing him for $70 million in taxpayer funds paid to workers following the collapse of his Queensland nickel refinery. Mr Palmer says he takes issue with Anthony Albanese saying Labor had not approached his United Australia Party for preference deals. "That's just not true, I had Senator (Anthony) Chisholm approach me while I was down for the budget in parliament sitting on the floor, he got up, it's all recorded, he came over to see me," Mr Palmer says. "He called me on Wednesday when he was with Bill Shorten in Central Queensland and he said was it too late to do preferences, it's not true that I wasn't approached by the ALP."
2mins
Lipstick on a... cow?

Lipstick on a... cow?

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Bega Cheese says FY19 performance to be impacted by farm gate pricing pressure

Bega Cheese says FY19 performance to be impacted by farm gate pricing pressure

Bega Cheese (ASX:BGA) expects overall milk intake in FY19 to be between 1 and 1.1 billion litres of milk compared with total intake of 750 million litres in 2018. The dairy company says performance in FY19 is expected to be impacted by farm gate milk pricing pressure. Bega is forecasting normalized EBITDA in the range of $123 to $130 million as compared to $110 million in FY18. Bega says despite the current decrease in milk supply in the Australian dairy industry it is is very pleased with the integration of the Koroit facility, and, the forecast performance of that acquisition. Shares in Bega Cheese (ASX:BGA) are trading 12.3 per cent lower at $4.98.
RBA Monetary Policy Statement downgrades forecasts: ASX 0.3% higher at noon

RBA Monetary Policy Statement downgrades forecasts: ASX 0.3% higher at noon

The Australian share market opened higher defying the futures market which had been anticipating a fall. Now trading at 0.3 per cent higher at noon.Shares in TPG Telecom (ASX:TPM) have started to bounce back after ACCC's decision to block the proposed $15 billion TPG-Vodafone Hutchison Australia merger was announced. Software company Xero (ASX:XRO) has also seen a rise today. Meanwhile Qantas (ASX:QAN) shares are down almost 4 per cent after reporting yesterday that their third quarter revenue up was 2.3 per cent to $4.4 billion yesterday. The Energy sector is leading the way and the Financials sector trailing behind The S&P/ASX 200 index is 16 points up at 6,312. On the futures market the SPI is 11 points higher. Local economic news: The RBA released their monetary policy statement today showing growth in the Australian economy has slowed and inflation remains low. Subdued growth in household income and the adjustment in the housing market are affecting consumer spending and residential construction. Despite this, the unemployment rate steady at around 5 per cent. Underlying inflation has been lower than expected, at 1½ per cent over the year to the March quarter. GDP growth is expected to be around 2¾ per cent over both 2019 and 2020. This is lower than previously forecast. Company news: REA Group (ASX:REA) has seen revenue rise 7 per cent to $198.6 million in its third quarter results. EBITDA rose 6 per cent to $110.7 million from $104.3 million in the same corresponding period. REA operates realestate.com.au and is majority-owned by the Rupert Murdoch-controlled News Corp. They say Australian real estate classifieds business rose despite a huge drop in listings. Market conditions are not expected to improve in the short term, with listing numbers impacted by the long weekends and the Federal election campaign. Shares in REA Group (ASX:REA) are trading 0.6 per cent higher at $81.59 IPO: Life360 (ASX:360), a services application for consumers to track their con...
Borden CEO: The Rumors of the Milk Industry's Death Are Greatly Exaggerated

Borden CEO: The Rumors of the Milk Industry's Death Are Greatly Exaggerated

In this week's "Commodity In Chief" segment on "Bloomberg Commodities Edge", Bloomberg's Alix Steel talks to Tony Sarsam, CEO of Borden Dairy, which is a leading U.S. dairy processor and distributor. Borden operates 13 milk processing plants and nearly 100 branches across the U.S. that produce and distribute nearly 500 million gallons of milk annually for various customers. They discuss the changing consumption patterns of U.S. consumers, competition within the milk industry and the challenges ahead for Borden.
 - Palmer says Labor made approach for deal
Palmer says Labor made approach for deal
 - Lipstick on a... cow?
Lipstick on a... cow?
 - Bega Cheese says FY19 performance to be impacted by farm gate pricing pressure
Bega Cheese says FY19 performance to be impacted by farm gate pricing pressure
 - RBA Monetary Policy Statement downgrades forecasts: ASX 0.3% higher at noon
RBA Monetary Policy Statement downgrades forecasts: ASX 0.3% higher at noon
 - Borden CEO: The Rumors of the Milk Industry's Death Are Greatly Exaggerated
Borden CEO: The Rumors of the Milk Industry's Death Are Greatly Exaggerated

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