Australian shares open 0.4pc lower; Magellan hit by $2.4b outflows in October; Block climbs on earnings beat; CSR lifts dividend; GPT, AMA reaffirm guidance. Follow updates here.
Block’s third quarter profit beat expectations with its Cash App, Square and buy now, pay later assets all combining to offset weaker bitcoin revenues.Third quarter profit grew by 38 per cent compared with a year earlier to $US1.57 billion, from $US1.47 billion in the second quarter.
Its Cash App generated $US774 million, up 51 per cent, or by 37 per cent excluding the effect of its Afterpay buy now, pay later acquisition.but global expansion for Square Banking was its top priority as it seeks to take on the big banks“Most recently, we introduced Instant Transfers in Australia and Square Loans in the UK.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX LIVE: ASX to fall; Perpetual rejects Regal, Barings takeover bidASX futures 1.62pc lower. Regal, Barings in Perpetual takeover bid. Woolworths says food inflation at 7.3pc. Wall St tumbles on hawkish Fed. Follow latest here.
Read more »
Block rally lifts ASX to 0.5pc gainThe energy and materials sector pushed the Australian sharemarket higher on Friday, lifting the benchmark index to a 1.6 per cent weekly gain.
Read more »
ASX futures lower, Wall St down ahead of Fed decisionAustralian share futures were lower, in line with New York, as investors await news on US interest rates. $A edges higher. Fed statement at 5am AEDT.
Read more »
ASX to slip, $A drops, Wall St lowerAustralian shares are set to open little changed as persistent inflation keeps US rates on a rising path. $A with a US62¢ handle. Bitcoin holds at $US20,000.
Read more »
Tradie turns 'iconic' block of outback land into off-grid oasisThe rising cost of living and concern for the environment are driving some people to off-grid life. But for Fred Jeffree, it was the neighbour's dog barking that made him head for the middle of nowhere.
Read more »