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ANZ Group announced a new A$2 billion share buyback on Tuesday, despite reporting a 7% slump in first-half cash earnings due to intense competition in Australia's mortgage lending market coupled... -May 06, 2024 at 06:02 pm EDT - MarketScreener
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Cost cutting helped Tyson Foods handily beat profit forecasts, but its stock slumped as its chief executive warned of macroeconomic headwinds in its earnings call.
(Reuters) -Australian bank Westpac declared a special dividend on Monday and raised its share repurchase program by A$1 billion ($661 million) citing a strong balance sheet even as its first-half profit fell by 16% on intense competition and high costs. Traditionally beneficiaries of rising interest rates, the country's so-called Big Four lenders have spent the past year sacrificing margins to write new home loans and paying more to depositors, narrowing their closely watched "net interest margin". Westpac's net interest margin slipped to 1.89%, down 7 basis points from a...
Australia's Westpac Banking Corp reported a 16% drop in its first-half net profit on Monday as margins are squeezed by intense lending competition and higher costs. It also announced an increase...
(Reuters) -Australia's Westpac Banking Corp reported a 16% drop in its first-half net profit on Monday as intense lending competition and higher costs squeezed its margins. It also announced an increase of A$1 billion ($660.90 million) to an existing s...