|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||12.01 - 12.10|
|52 Week Range||8.35 - 13.62|
|Beta (5Y Monthly)||0.49|
|PE Ratio (TTM)||10.87|
|Forward Dividend & Yield||0.49 (4.06%)|
|Ex-Dividend Date||Feb 25, 2020|
|1y Target Est||12.02|
BCE divests its lucrative portfolio of 25 data center facilities at 13 sites to Equinix to enhance its focus on core network investments in Canada.
(Bloomberg Opinion) -- These are the most consequential months in the Reserve Bank of Australia's 60-year life, but the economic downturn of historic proportions means nobody is celebrating this diamond jubilee. So deep is the damage inflicted by the Covid-19 pandemic that the central bank's greatly enhanced profile in the economy and markets will be with us for years. That's consistent with a tremendous expansion in the role of the state as leaders Down Under endeavor to simultaneously restore growth and contain infections. The combative relationship between the federal and powerful provincial governments has given way to national priorities, blurring distinctions between responsibilities. In effect, the modus operandi of what was once seen as an economic nirvana has undergone a revolution. Projections suggest much of this is warranted; that makes it no less momentous. Gross domestic product may shrink 10% before bouncing in the second half of the year, the central bank warned Friday in its quarterly outlook. The late growth spurt won't be enough to prevent an annual retreat of 6%. Australia’s GDP hasn't gone south by anywhere near that much since the RBA opened its doors in early 1960. Prior to the central bank’s inception, monetary policy was conducted by the government through what’s now the publicly traded Commonwealth Bank of Australia. The last recession produced a decline of 1.1% in 1991, which seemed severe living through it. The growth streak that followed has gone down in global economic folklore. Buoyed by closer trading ties with China and an unparalleled resources boom, Australia even skated through the Great Recession without two consecutive quarters of contraction. That’s over. The unemployment rate will climb to 10% over coming months and still exceed 7% at the end of next year, under the RBA’s main scenario. It was 5.1% at the end of 2019. The profound shock of the pandemic quickly pushed the bank to cut borrowing costs to almost zero and undertake quantitative easing to suppress the yield on government bonds. Governor Philip Lowe signaled that ultra-easy policy will remain until the country is well down the recovery road. The RBA is also purchasing bonds sold by state governments, saying Tuesday that it will further expand the range of securities eligible for its market operations to include investment-grade debt issued by non-bank companies. While the bank makes its monetary-policy decisions independently, this effectively leaves the six state and two territory administrations more dependent on national authorities and extends the reach of the public sector into corporate life. The former diminishes, at least temporarily, pretensions that local administrations have of separation from the center. The latter is a step toward reversing the intellectual and policy thrust of successive governments since the 1990s, when assets like Qantas Airways Ltd. and Telstra Corp. were unloaded.This rebellion against precedent extends to the political process. Prime Minister Scott Morrison has created a so-called national cabinet to deal with Covid-19. The team of rivals brings state premiers and chief ministers into the federal sanctum, meeting to co-ordinate on business and school closures and prospective re-openings, as well as hospital operations. During the emergency, this elite group has become the core Australian decision-making body. Several of the regional premiers are from the Australian Labor Party, which opposes Morrison’s conservative bloc in the federal parliament. To appreciate the radicalism, imagine Donald Trump bringing New York’s Andrew Cuomo and California’s Gavin Newsom, both Democrats, to the cabinet table in Washington. An effort at seamless decision making addresses the needs of the moment. The public rightly has little time for jurisdictional disputes, even through the constitution gives states a lot of authority. Critics contend that the new set-up is eroding democracy: The national cabinet makes decisions, yet is accountable to no single legislature. Such unity of purpose likely has a finite life. At some point, the electoral cycle will resume. Templates for new national political and economic structures now exist that would have unthinkable a year ago. Catastrophic bushfires over the Christmas-New Year holiday period midwifed a big federal intervention in firefighting, an area states have historically dominated, and led to the biggest military deployment since World War II. In the monetary arena, the ground has been laid for long-term policy activism and rock-bottom rates with potentially far-reaching consequences. Consumers, businesses and governments now know the RBA will backstop them in ways few contemplated not so long ago. And the longer Lowe and his successors keep rates low, the greater the risk of a backlash should they have to change course and begin withdrawing stimulus — an antipodean taper tantrum. Not the anniversary year the RBA anticipated. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Daniel Moss is a Bloomberg Opinion columnist covering Asian economies. Previously he was executive editor of Bloomberg News for global economics, and has led teams in Asia, Europe and North America.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Australia's Telstra Corporation said on Friday it expects to recognise an impairment charge of about A$300 million ($195.12 million) against its investment in a 35% stake in the Foxtel joint venture with Rupert Murdoch's News Corp. Telstra's decision follows the write down in value of Foxtel by News Corp a few hours earlier.
Australia's sovereign wealth manager the Future Fund on Thursday named Raphael Arndt as its chief executive officer, effective from July 1. Arndt, who has been Future Fund's chief investment officer since 2014, will take over from acting CEO Cameron Price. Before joining Future Fund in 2008 as head of infrastructure and timberland, Arndt worked as an investment director with Hastings Funds Management and also held infrastructure policy positions with the Victorian Department of Treasury and Finance.
Andy Penn became the CEO of Telstra Corporation Limited (ASX:TLS) in 2015. This report will, first, examine the CEO...
Grocery stores hiring staff by the tens of thousands. After a period of scandal and public distrust, the coronavirus pandemic has prompted a show of largesse from Australia's biggest companies wanting to portray themselves as responsible community actors. Australian companies say they are doing their part to prop up the economy to support those most affected by a crisis that has already put hundreds of thousands out of work.
Deutsche Bank's Depositary Receipts Virtual Investor Conference presentations now available for On-Demand Viewing
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
Australia's prime minister cancelled plans to go to a rugby game on Saturday after a senior minister was diagnosed with COVID-19, while the nation's treasurer called a second crisis meeting over the rapidly growing economic threat from the coronavirus. Treasurer Josh Frydenberg was set to hold a phone hook-up with Reserve Bank of Australia officials and financial regulators on Saturday, his spokeswoman said, without elaborating on what would be discussed. Australia has 197 confirmed cases of COVID-19, including three deaths.
Deutsche Bank today announced the lineup for its Depositary Receipts Virtual Investor Conference ("dbVIC") on March 18th and 19th, featuring live webcast presentations from international companies with American Depositary Receipt (ADR) programs in the US.
It looks like Telstra Corporation Limited (ASX:TLS) is about to go ex-dividend in the next 4 days. Ex-dividend means...
An Australian court approved a A$15 billion ($10.1 billion) merger between a unit of Britain's Vodafone Group <VOD.L> and internet provider TPG Telecom <TPM.AX> on Thursday, overruling a regulator and enabling a huge rival to the country's top telcos. A Federal Court judge said a tie-up between Vodafone's joint venture with local telco Hutchison Telecommunications (Australia) Ltd <HTA.AX> and TPG would not harm competition, rejecting the Australian Competition and Consumer Commission's (ACCC) reason for blocking the deal last year.
Clear, a developer of enterprise-grade blockchain settlement networks, has completed a $13M Series A. Eight Roads led the round, which also included Telefónica (NASDAQ:TEF) Innovation Ventures, Telekom Innovation Pool of Deutsche Telekom (NASDAQ: DTEGF) HKT (HKSE: 1137.HK) and Singtel Innov8. The funding will enable Clear to develop B2B payment systems that can process thousands of […]
Today we are going to look at Telstra Corporation Limited (ASX:TLS) to see whether it might be an attractive...
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Singtel Optus Pty Limited and other ratings that are associated with the same analytical unit. Key rating considerations are summarized below.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Telstra Corporation Limited and other ratings that are associated with the same analytical unit. Key rating considerations are summarized below.
Equinix (EQIX) boosts global inter-connection footprint by strengthening integration of ECX Fabric and Telstra's Programmable Network, offering customers faster connectivity to cloud providers.
Sprint (S) teams up with Telstra to deploy virtualized IoT platform, Curiosity, in a bid to fortify connectivity management with enhanced resiliency, performance and security across Australia.
Ericsson (ERIC) will empower Telstra to achieve greater orchestration and network automation to deliver services such as enhanced mobile broadband, network slicing, mobile edge computing and advanced enterprise services.
Nine international companies recently made their pitch to investors at the Deutsche Bank Depositary Receipts Virtual Investor Conference, held in conjunction with OTC Markets November 13-14. Heineken’s big initiative, according to Investor Relations Director Federico Castillo, is continuing its global diversification and limiting reliance on individual markets. Today, Heineken owns over 160 breweries in over 70 countries.
The main aim of stock picking is to find the market-beating stocks. But in any portfolio, there will be mixed results...