|Bid||40.21 x 0|
|Ask||40.22 x 0|
|Day's Range||40.08 - 41.08|
|52 Week Range||28.48 - 43.96|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||19.78|
|Earnings Date||Feb 26, 2020|
|Forward Dividend & Yield||1.14 (2.80%)|
|Ex-Dividend Date||Mar 04, 2020|
|1y Target Est||29.42|
Electric vehicles have charged up investments around the world, but Australia is revelling in a slew of deals involving old-school petrol stations, with a bidding battle developing for one of its top fuel retailers, Caltex Australia. A shake-up in the structure of the fuel industry over the past decade, sparked by refinery closures and oil major retreats, has produced deals worth $33 billion including offers for Caltex, according to Refinitiv data.
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Moody's Investors Service says that the proposed debt facility draw of up to AUD20 million by ALE Direct Property Trust (ALE DPT) in February 2020 would not, in and of itself and at this time, result in the downgrade or withdrawal of the Aaa (sf) rating of the Class AA notes issued by ALE Finance Company Pty Limited - Series 1. The transaction, backed by a portfolio of 85 pubs across Australia, is a single-borrower, secured loan, commercial mortgage-backed securitisation. ALH is owned by ALH Group Pty Ltd, which is in turn owned by Woolworths Group Limited (Baa2, 75%) and the Bruce Mathieson Group (25%).
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Moody's Investors Service has affirmed Charter Hall Retail REIT's (CQR) Baa1 issuer rating and Baa1 senior unsecured rating. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. At the same time, Moody's has changed the ratings outlook to stable from negative.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of ALE Direct Property Trust and other ratings that are associated with the same analytical unit. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Woolworths Group Ltd said it had underpaid thousands of supermarket workers for years and will need to repay as much as A$300 million ($200 million), the latest and most high-profile company to be caught up in wage scandals across corporate Australia. The admission from the country's biggest company by revenue prompted a government agency to say it would investigate Woolworths, as well as a call from an opposition politician for a parliamentary inquiry into what he called "wage theft" in Australia. The underpayment of workers has emerged as a hot-button issue this year but Woolworths' disclosure is the biggest by far, increasing the odds that the government will be prompted into more action.
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Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Woolworths Group Limited and other ratings that are associated with the same analytical unit. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Woolworths Group Limited (ASX:WOW) is a company with exceptional fundamental characteristics. Upon building up an...
European fashion brands who buy readymade garments from Bangladesh agreed on Tuesday to hand over responsibility for issues like worker safety to a new body called the Readymade Sustainability Council (RSC). RSC, governed by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), and brands and workers' representatives, will replace the Accord on Fire and Building Safety in Bangladesh to ensure compliance with work-place monitoring in the industry. The Accord was set up by European brands to improve factory safety in Bangladesh after a garment factory complex collapsed in 2013, killing more than 1,100 people.
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(Bloomberg) -- Phone carriers are huge energy users, and need to cut emissions. They also face massive bills to build out the next generation of wireless networks. Green bonds promise to help them with both.A steady flow of issuance could be building: Orange SA and BT Group Plc are poised to follow Telefonica SA and Verizon Communications Inc. in selling securities designed to fund environmentally friendly projects. The industry has already completed at least $3 billion of sales since January, its first steps into a sustainable debt market that Bloomberg New Energy Finance estimates could exceed $370 billion this year.The proceeds can help telecom companies replace power-hungry copper wires with fiber-optic cables, or build the 5G networks that promise to make cities, homes and factories more efficient. There’s plenty of investor appetite for this new take on sustainable investing, but there’s a catch: any hint that a bond doesn’t genuinely help the planet can cause some buyers to flee.“Telecoms have to invest a lot. In the long run, having green bonds in place is going to be very important,’’ said Juuso Rantala, who holds Telefonica’s green bond in the 400 million-euro ($449 million) fund he manages at Aktia Asset Management Ltd. in Finland. “If I find out that I cannot trust the company in the case of green bonds, I cannot trust them in many other ways too. If I cannot trust them, I don’t invest.’’The securities show how green debt is expanding beyond its original universe of the clean energy industry. Beef supplier Marfrig Global Foods SA and Australian retailer Woolworths Group Ltd. have tapped this market to help their operations become more environmentally friendly.For carriers, the task is urgent. The communications industry accounts for about 10% of global electricity demand, and that could exceed 20% by 2030 as demand for data balloons, according to Huawei Technologies Co.Telecom companies have ways to clean up their act. For example, replacing copper with glass wires would use 85% less energy, according to Telefonica. And 5G can enable a range of environmental benefits by allowing smart buildings to monitor heating, connected warehouses to optimize their logistics and power grids to better allocate electricity.But these companies are already staggering under a mountain of debt from, among other things, buying 5G licenses. They’ll need to make sure they can keep their borrowing costs low and tap investors when needed.That’s where green bonds can help: the interest costs are about the same as on these companies’ conventional securities, but they offer the opportunity to access a wider pool of investors.The share of funds focused on socially responsible investing, which includes environmental projects, has risen 34% over the last two years, and now accounts for $30.7 trillion of assets globally, according to the investor group Global Sustainable Investment Alliance.“Many more green telco bonds are likely,” Morgan Stanley analysts led by Emmet Kelly wrote in June. “Demand from funds that have incorporated sustainability into their investment framework has been key.’’Telefonica, based in Madrid, is a good example. Demand for the issue, which priced in January, was significant: the company received five times the orders than what was available for sale, and obtained a spread more than the mid-swap rate that was about 25 basis points lower than initial indications.The yield on the 1 billion-euro 5-year security is in line with the rest of its curve, Bloomberg data show, indicating it didn’t have to pay a premium to tap demand for sustainable credit. It’s a similar story for Verizon and Vodafone Group Plc.Orange and BT Group are paying attention -- they have inserted clauses into their Eurobond prospectuses which would let them issue green bonds in the near future. And Deutsche Telekom AG is monitoring the surging market closely, said a spokesman.For investors, the risks go beyond what’s expected for any fixed-income asset. Buyers also have consider just how green these bonds are.“The question is whether or not a bond offers a real energy efficiency gain or overall gain for the environment,’’ said Arnaud-Guilhem Lamy, who holds telecom securities in his 340 million-euro ($381 million) green bond fund at BNP Paribas Asset Management in Paris. “If we think it’s insufficient, we would sell.’’For a start, there’s always the possibility that this new breed of green-bond borrowers divert proceeds to inappropriate purposes, including pooling them into general funds. Though monitoring groups such as credit rating firms can discourage such behavior, it’s something investors need to watch.But 5G presents a particular environmental paradox.Internet-of-things technologies will connect billions more devices and require many more antennas, so 5G will initially use more power than 4G, according to Sustainalytics, an independent corporate sustainability research firm. This complicates the idea that 5G can be a green investment.However, Sustainalytics estimates the energy savings from 5G outweigh the extra emissions to deploy the new tech by a ratio of 5 to 1. The firm’s analysis of the Verizon bond issue, which included 5G deployment among the potential use of proceeds, found that it was a credible candidate for green financing.It’s a good thing, because Verizon plans on returning to this corner of the bond market. It looks like it will be welcome, too – its $1 billion issue of 10-year green debt was eight times oversubscribed within six hours of being offered for sale, said Jim Gowen, head of supply chain and sustainability for the U.S. carrier.“It was far beyond our wildest expectations,” Gowen said. “We are very interested in doing another one.’’\--With assistance from Paul Cohen and Lyubov Pronina.To contact the reporter on this story: Thomas Seal in London at email@example.comTo contact the editors responsible for this story: Rebecca Penty at firstname.lastname@example.org, Jennifer RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
How far off is Woolworths Group Limited (ASX:WOW) from its intrinsic value? Using the most recent financial data...
SYDNEY/BENGALURU, July 3 (Reuters) - Australia's biggest supermarket chain Woolworths Group Ltd said on Wednesday it will combine and spin off its drinks and pubs units to focus on its core business, cutting back its contentious involvement in poker-machine gambling. The demerger would give investors exposure to a standalone listed operator of 1,500 liquor stores and 327 pubs worth about A$10 billion ($7 billion), according to analysts, while reducing family-focused Woolworths' reliance on slot machine revenue. It also marks the beginning of the end of the major retailers' addiction to poker machine revenue, after Woolworths rival Coles Group Ltd said in March it was carving off its pubs business into a joint venture.
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SYDNEY/BENGALURU, June 18 (Reuters) - Coles Group Ltd , Australia's second-biggest grocery chain, on Tuesday unveiled a plan to cut A$1 billion ($685 million) in costs over the next four years, as it looks to technology to offset rising labour and energy costs. In its first major strategy update since being spun off last year by conglomerate Wesfarmers Ltd, Coles said it planned to automate manual tasks and reduce duplication to tackle rising costs. Australia's supermarket sector is grappling with intense competition as sales and margins get squeezed by cautious consumers and rising costs, while economic growth slows in Australia.