Business

News on companies, industries, and corporate developments.

Business
Azzet Unpacked: Percolating the week's business news
It’s been a week of financial upheaval, technological leaps, and political drama, all woven together in a chaotic tapestry that the finance writers at Azzet.com will no doubt be untangling for weeks to come. The world’s financial and technological gears have spun wildly, leaving investors, policymakers, and protesters alike wondering if they accidentally stepped into a simulation. Two of the week's strongest stories surfaced on Friday: Israel's series of military strikes on Iran (a marked escalation, written up by finance journalist Oliver Gray) and the Air India plane crash that killed at least 241 people, miraculously leaving one sole survivor, and marking the most devastating plane crash in a decade. Reporter Chloe Jaenicke tracked this one. Meanwhile, the United States tariffs continue to dominate the global economy, nudging inflation upward like an overeager personal trainer. AMERICA'S IN A RIGHT STATEThe World Bank warned the tariffs imposed by U.S. President Donald Trump may slow economic growth. This didn't seem to deter Trump, though, because finally there was some movement on the U.S.-China front, with both nations agreeing to an economic “framework”. We're just glad they didn't call it a deal. More details o
Business
Syntara rallies, Accent slumps, Dalrymple Bay sinks
Azzet reports on three ASX stocks with notable trading updates today. Syntara soars on SNT-5505 updateShares in Syntara (ASX: SNT) were up around 14% at the open after the Sydney-based clinical-stage drug development small cap shared interim data from its Phase 2 trial of SNT-5505 in combination with ruxolitinib for myelofibrosis (MF). Final results expected in Q3 – together with discussions with the U.S. Food and Drug Administration (FDA) about a pivotal Phase 2c/3 trial – are expected to further differentiate SNT-5505 in a space with high unmet needs and commercial potential. Key outcomes included 73% achieving TSS50 and 44% achieving a spleen volume reduction ≥25%, with no serious adverse events attributed to SNT-5505. Recent announcements highlight Syntara’s ongoing efforts to advance SNT-5505, which has received Fast Track Designation and FDA Orphan Drug Designation. The development of SNT-5505, alongside other drug candidates, is expected to position the ASX small cap as a significant player in the treatment of blood cancers and fibrotic diseases, potentially impacting stakeholders by advancing treatment options in these areas. Commenting on today’s update Syntara CEO Gary Phillips noted that after very rece
Business
Allianz clear to buy RAAI amid shrinking market fears
The competition watchdog has no plans to stand in the way of German financial services firm Allianz’s plans to acquire the Royal Automobile Association of South Australia’s personal insurance business (RAAI). Based on the Australian Competition and Consumer Commission’s (ACCC) findings, Allianz’s purchase of RAAI’s general insurance business from the Royal Automobile Association of South Australia for $642 million is unlikely to substantially lessen competition. The approval includes a 20-year exclusive distribution arrangement between Allianz and RAAI. The ACCC expects other suppliers in South Australia to compete with a merged Allianz and RAAI. “… we found that competition in relation to price and coverage in South Australia is being driven predominantly by other insurers, including Suncorp through its AAMI brand, IAG, Auto & General and Youi,” ACCC Commissioner Philip Williams said. However, the ACCC recognised that increased claims volatility linked to severe weather and elevated reinsurance costs have affected RAAI’s operating outlook, potentially limiting its future competitiveness. Meanwhile, The Motor Trades Association of Australia (MTAA) is worried about the accelerating consolidation in the insurance i
Business
James Bay re-rated on Nevada gold project's upside
Despite jumping 17% yesterday, James Bay Minerals (ASX: JBY) is still trading at a mouthwatering 128% discount to East Coast Research’s (ECR) $1.46 fair valuation on the Canada-focused small cap explorer. While Perth-based James Bay Minerals is best known for its 346 sqm of prospective lithium desposits within the James Bay region of Canada, it’s the miner’s gold play in Nevada that the Sydney-based research company (ECR) believes warrants a major re-rating.Expanded scaleHaving recently expanded the scale of its gold project in Lander County, Nevada following the land grab of 66 new claims, Independence now boasts a high-grade JORC-compliant inferred Mineral Resources Estimate of 980,000 ounces at 6.67%/t gold in deep skarn mineralisation. There’s also a near surface epithermal component of 290,000 oz at 0.4g/t gold in the Indicated category and 90,000 oz at 0.32g/t gold in the Inferred category. After recently initiating coverage on the miner, ECR believes its valuation rationale is warranted based on a number of different dynamics, including:Comparison with peer companies. The project’s location in a tier-one mining jurisdiction. It has potential for low-cost processing. Key catalystsKey catalysts that could drive t
Business
Trading floor: Cochlear dips, Cettire tumbles, Talaga up
Azzet reports on three ASX stocks with notable trading updates today. Cochlear seesaws on earnings miss and news of life-changing new productShares in Cochlear (ASX: COH) managed to rebound after dipping by as much as 9% at the open, with investors hitting the sell button following a downgrade to the company’s FY25 guidance. However, as the market wore on it became evident that the market had over reacted to today’s update, with many investors seizing the early morning dip as a buying opportunity. At this juncture the market was unaware that good news was yet to come. What spooked that market today was a cut to the hearing implant giant’s FY25 underlying profit expectations. Due to slower-than-expected sales growth over the last few months, management is now guiding to an underlying net profit of $390 million to $400 million compared to the originally expected lower end of $410 million to $430 million guidance. Based on midpoint estimates, the downgrade is around 5%. What made it difficult for the market to assess the significance of today’s update was the nature of its mixed bag result. While the group expects a low double-digit decline in services revenue for FY25, the implants unit is still expected to inc

Business
CEO leaves fertility group in wake of embryo incidents
Michael Knaap has resigned as Chief Executive Officer and Managing Director of Monash IVF, the fertility and reproductive health group which has announced two mix-ups with embryos in the last two months. In a brief statement to the Australian Securities Exchange (ASX), the company said Knaap had also resigned as a director. However, it did not refer to the incidents that have caused the share price to fall by about half this year. Monash IVF said Group Chief Financial Officer and Company Secretary Malik Jainudeen, who joined the company in 2014 and served in his current role since 2019, was appointed as Acting Chief Executive Officer. “His deep understanding of the organisation's operations positions him as a steady and capable leader during this transitional period,” Monash IVF said in the announcement. The company said the Board acknowledged and respected Knaap’s decision, and thanked him for his dedicated service, adding that he had led the organisation through a period of significant growth and transformation. The announcement comes two days after Monash IVF revealed a patient's embryo was incorrectly transferred back to her rather than, as planned, to her partner at its Clayton facility in Melbourne on 5 June.
Business
Guilty plea entered in ASIC pump-and-dump case
ASIC has secured guilty pleas from four individuals involved in a "pump and dump" case. The term refers to a coordinated scheme where share prices are inflated before being sold at new and inflated prices. Larissa Quinlan, Kurt Stuart, Emma Summer and Syed Yusuf all pleaded guilty in the Downing Centre Local Court yesterday, to charges of conspiracy to commit market rigging. They also admitted dealing with crime proceeds. Quinlan, Stuart and Summer were involved in the conspiracy to commit market rigging between August 2021 and about September 2021, and Yusuf later on in September. They face a maximum penalty for conspiracy of 15 years’ imprisonment and a fine of over $1 million. The case will next head to Sydney District Court on July 21 to obtain a date for a sentence hearing. "ASIC takes breaches of the market manipulation rules very seriously and as demonstrated in this matter, we will not hesitate to take enforcement action where appropriate", said ASIC Chair Joe Longo on the guilty pleas.
Business
Trades: Austin Engineering sinks; Zip, Fletcher surge
Azzet reports on three ASX stocks with notable trading updates today. Austin Engineering dives after mixed updateShares in Austin Engineering (ASX: ANG) were down around 10% at the open after the small cap stock posted a two-edged guidance update today. At first glance, the projected uptick in FY25 revenue guidance to around $370 million, up from the $350 million forecast in Austin’s most recent guidance - 18% up on FY24 – on the back of strong performances in the Americas, notably the U.S. and Chile - gives shareholders something to smile about. Higher orders in the U.S. follow the previously announced manufacturing capacity expansion, which will be largely in place and operational by the end of April 2025. With the additional capacity in the U.S. now operational, the company is now focusing on improving plant efficiency, which is expected to deliver higher margins in the future. While Austin recently won a strategically important and potentially multi-year contract for the supply of truck bodies to be delivered from its Chilean facility, a major ramp up required to fulfill the contract has strained the facility's capacity. With discussions about price variations having proven to be unsuccessful, Austin now plans
Business
Women more dissatisfied than ever in media industry
Career dissatisfaction in media has reached a four-year high for women. According to the Women in Media Industry Insight Report 2025, 59% of women in the media industry report dissatisfaction with their careers. Women in Media strategic advisor and author of the report, Petra Buchanan, told Mumbrella that dissatisfaction has increased consistently for the past four years since the report has existed. “Fundamentally, there’s just this disconnect between what women are experiencing or hearing what should be happening, and what’s actually happening for them,” she said. The report also found that one in three women are considering leaving their job, with half looking to exit the industry altogether. This is up from 3% considering leaving their jobs last year. With most of these women being in mid-career or senior positions, Buchanan suggests this sends an unhelpful message to women early in their careers due to the lack of representation. “Only 23% of women make it to senior management, and we’ve got to address that issue and empower more women to be ready to step into leadership roles,” she said. “But that can’t happen with this growing career dissatisfaction and increasing numbers of women considering exiting th