Oxfam's latest inequality report has found the world's top 10 richest people (all men) made a whopping $150 million a day last year. The gains were largely across the board with 128 companies making gains, 65 losing ground and 7 going nowhere from Friday's close. The company drew down the first $100 million of a new loan facility in early December, but has raised concerns about its ability to meet the conditions required to access a further $100 million. Just a quick update on the waxing and waning fortunes of Donald and Melania Trump and their recently launched meme coins we've been following today. Oxfam Australia is calling on the federal government to introduce a wealth tax of between 2 and 5 per cent on the super-rich.
"In the absence of one or more of those arrangements, there remains material uncertainty as to the group's ability to continue as a going concern." "During this time, more women bravely came forward, Nine conducted a culture review, and many of my broadcast colleagues contributed their experiences," she said. Ms Walsh joined Nine in 2008 and had a high-profile career as a reporter on the Today program and covering federal politics. Globally, the 10 richest people are all men, and their wealth increased by more than $150 million a day on average. An Oxfam report found that Australian billionaires' wealth increased by more than 8 per cent, or $28 billion, last year. "We're asking people to decide how much they're going to draw on their superannuation each year, without knowing how long they're going to live," Grattan's Brendan Coates told ABC New Channel.
In all seriousness, though, I was really honoured to be nominated and a finalist. Without the dedication of the Proud team, we would never have been able to achieve what we had. Being able to co-lead a group of passionate and driven people is an absolute pleasure, and they are what fuelled me to keep going, even when it did get a little tough.
The company has taken an appropriate approach to shareholder distributions with the suspension of dividends during the pandemic. The remains their intention until suitable providing it remains within its target leverage range at the time. The gaming sector carries a set of constant risks including tax increases, ESG risks, and heightened regulatory scrutiny. Boosted by new developments in Queensland and a recovery from current headwinds, we project a 5% annual revenue growth for the five years ending fiscal 2029.
The media reports raised fresh allegations against Mr White of inappropriate behaviour from a former employee and a company supplier. According to Reuters, this was to buy the US Commerce Department time to make the order workable, after the rapid change created disruptions for customs inspectors, Flamingo Las Vegas slot jackpot odds postal and delivery services and best online gambling Australia 2026 review retailers. "If the directors requested inquiries be made by management there was a lot of material available the board could have read." The biggest winner was Star Entertainment (+13.6%) on speculation it is about to offload its Brisbane casino ... Many of its remaining shareholders grabbed what they could before fleeing the wreck. The academic services and utilities sectors were in solid demand, while Ansell's strong result led healthcare higher.
A trading update from executive chair Jack Cowin has raised investors' confidence. Star had previously inked a deal to sell its Brisbane assets to its Hong Kong joint venture (JV) partners. Star Brisbane casino best odds told investors on Tuesday morning it had finally signed a deal with its Hong Kong partners — including one which was once linked to organised crime figures.
Buying time ahead of an expected equity raise in fiscal 2025, the company raised $200 million in emergency debt facilities at a sharp 13.5% per year. Star’s balance sheet is in precarious condition after their 8th Jan update. Elevated remediation costs in fiscal 2023, poor performance and fines increased led to two dilutive capital raises in 2023 at $1.20 and $0.60 per share. In our view, the NSW government’s issue of the second casino license in Sydney stemmed from underinvestment and underperformance in The Star Sydney, depriving the state of taxation revenue. Star spent ~$500 million improving its Sydney facilities ahead of Crown Sydney’s opening however it was too little too late. We estimate that 30% of table revenue will be conceded to Crown Sydney within three years of the competitor’s operation. Fears circulate for Star after recent spending suggests the operator would be lucky to survive till their interim results expected late February.
Company information displayed on The Australian Financial Review is sourced from Morningstar and ASX and is subject to their terms and conditions as set out in our Terms of Use. The Australian Financial Review does not accept any responsibility for the accuracy and/or completeness of such data or information. New Zealand casino payout speed rules that would have restricted patrons to fast crypto gambling sites $1000 in cash per day will not be introduced for another two years after lobbying from casino giants. Shares close in on fifth straight month of gains; Qantas at record high on Jetstar; Ramsay’s weak Aussie earnings; IDP Education soars nearly 30 per cent on outlook; Wesfarmers dividend splurge.
In an update to the stock exchange this morning, Star reported a loss for the second quarter — although not as bad a loss as the previous period, as it managed to cut costs. Thanks for constrain all your comments on superannuation today, in light of the Grattan Institute report arguing a government-backed annuity scheme would help more people draw down on their super — sharing a few more here. In 2022, The Star Entertainment Group was found unfit to hold casino licences in both New South Wales and Queensland. The company was fined $100 million by both states with a new manager appointed to oversee Star's operations to regulated standards. Its Sydney casino licence was suspended while in Queensland, a 90-day suspension has been deferred to December 2023.