The Rex services that have been grounded are the Boeing 737 flights between capital cities, including Melbourne, Sydney and Brisbane. While ticket sales for those routes are suspended, the company’s regional services are running normally, according to an update on Tuesday from administrators EY. With Qantas and Virgin dominating the Australian air market, budget airline…
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A global drop in sales of 1% was recorded in the second quarter of 2024 compared to 2023’s numbers. Analysts had expected a 0.5% increase. Revenue grew by 1% overall in the quarter. Net profit dropped to $2.02bn, which is a fall of 12%. Meanwhile, its earnings per share declined by 6% to $2.97. Chief…
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The watchdog will be focussing on the prices that are shown as “was” as “now”, suggesting that purchasers are getting a lower price than the regular cost of the item. This issue has arisen over concerns that customers may not get the savings advertising makes them believe they are. It’s the latest part of an…
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For the time being, it has been released as a prototype that will be available to a small group of users. This will allow the company to collect feedback as it carries on developing the software. The idea is that over time, it will become a new way to search the internet. The launch of…
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This investment has been made in the form of a loan that can be converted into equity in Imagination in the future. Imagination is owned by a private equity consortium with strong links to the Chinese government. Previously, Imagination was listed on the LSE under the IMG ticker; however, it was delisted in 2020 when…
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These results caused an immediate impact on the market, as the TSLA price fell by more than 4% in after-hours trading on the NASDAQ exchange. It’s still the most valuable car manufacturer on the planet, but TSLA’s warnings about lower growth this year have been followed by moves to offer cheaper financing and lower prices.…
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At £2.9bn (5.6bn AUD), this is set to be the biggest merger to take place in the British banking industry since the financial crisis. The CMA was initially worried that the deal - agreed in March this year - could lower the level of competition in the UK banking sector. However, the CMA confirmed on…
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Valdis Dombrovskis, the vice-president of the European Commission, said: We are not seeing the basis for retaliation as what we are conducting is indeed in line with WTO [World Trade Organization] rules. However, he also confirmed that talks between EU officials and the Chinese authorities are still ongoing. The tariffs on imported Chinese EVs have…
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Unaudited revenue was reported at $14.8m, which was only slightly better than the number reported for the same quarter in 2023; however, it was 11% better than Q1’s numbers. This led to analysts suggesting that NNMD had landed another new customer or secured a sizable sale from an existing client. The news encouraged traders to…
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As part of the annual report, Chief Financial Officer Victor Stinga said that the solid foundations that have been built will: Bring our financial processes in line with the standards expected from publicly listed companies. This was Revolut´s first annual report since 2020 in which it didn’t need to ask for an extension past the…
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