Business
Macquarie warns of challenging outlook as profits slide by a third – Sydney Morning Herald
The investment banking giant says tough market conditions amid the COVID-19 crisis have made it impossible to make profit forecasts after reporting a 32 per cent…
And the consequences of the pandemic would continue to be felt, she warned. Macquarie’s assets under management have shrunk by 7 per cent since March to $556.3 billion.
The profit declines were slightly milder than forecast by Goldman Sachs, which predicted falls of 34 per cent and an interim dividend of $1.30.
Goldman Sachs predicted Macquarie’s income from fees would drop by 5 per cent over the half as market conditions deteriorate before “staging some recovery” early next year as merger activity…
-
Noosa News21 hours agoMan charged over allegedly abandoning Arnie the German shepherd in car after claiming dog and vehicle were stolen
-
Noosa News22 hours agoMotorcyclist dies in crash with truck
-
Noosa News23 hours agoSomerville House investigating after teachers’ dossier on students leaked
-
Noosa News20 hours agoAustralia Post reintroduces weekend deliveries for Christmas parcel rush