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Investors hype travel future, bid on Sydney Airport for $22.26 billion

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 A group of infrastructure investors has proposed one of Australia’s biggest-ever buyouts

Investors are seeing the future of travel and have proposed an AUD $22.26 billion purchase of Sydney Airport.

The proposal comes as record-low interest rates prompt pension funds and their investment managers to chase higher yields.

The purchase, with an enterprise value of $30 billion includes the airport’s debt but would allow investors to reap financial benefits when borders reopen and travel demand takes an expected rebound.

If successful, the purchase of Australia’s biggest airport would be one of the country’s largest-ever by enterprise value in U.S. dollar terms.

It would also rank as the eighth-biggest deal globally this year

If all goes to plan, it will become the second-largest airport purchase, behind the $30.2 billion 2006 buyout of Britain’s Heathrow Airport.

Sydney Airport has confirmed they are still in the process of reviewing the proposal.

The airport operator’s share price hit a record A$8.86 in January last year, before the COVID-19 pandemic struck and caused devastation to the travel sector.

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

Business

Why luxury brands are not feeling inflation

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New data shows luxury brands are not feeling the pinch of inflation, thanks to the ultra-rich indulging in their products

Luxury brands are not worried about the impact of the global economic meltdown.

While prices of food and gas have skyrocketed, spare a thought for the ultra-rich dealing with the rising cost of sneakers and sports cars.

High end retailers like Dior, Louis Vuitton and Versace are all reporting strong sales and are hiking their profit forecasts.

The upbeat view is at odds with fears for the global economy.

However, this is nothing new, in fact it’s in line with past economic slowdowns according to the experts.

The rich are often the last to feel the impacts of a tightening economy, while spending among lower income consumers is squeezed by inflation.

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Johnson & Johnson will stop selling talcum baby powder

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Amid a rising number of lawsuits, Johnson & Johnson will officially cease production of its talcum baby powder.

Company executives say the decision follows a severe decline in sales right around the world.

The move also follows a number of lawsuits which claim the product causes cancer due to its contamination with asbestos.

Mined from the earth, Talc and lies very close to where carcinogenic asbestos comes from.

J&J says demand has fallen due to so-called ‘misinformation’ about the powder’s safety.

“We stand firmly behind the decades of independent scientific analysis by medical experts around the world that confirms talc-based Johnson’s baby powder is safe, does not contain asbestos, and does not cause cancer,” it said in a statement.

But an investigation by Reuters back in 2018 discovered the organisation knew for decades that asbestos was present in its talc products.

The global shift away from talcum powder comes more than two years after the healthcare giant ended sales of the product in both the U.S. and the UK.

The company says the powder will now be created from cornstarch.

“As part of a worldwide portfolio assessment, we have made the commercial decision to transition to an all cornstarch-based baby powder portfolio,” it said in a statement.

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Twitter will crack down on false reporting ahead of U.S. Midterms

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Twitter is seeking to put the truth first as this November’s mid-terms fast approach

Twitter says false and misleading posts will be fact-checked in a bid to promote accurate reporting.

Twitter will apply its ‘civic integrity policy’, which was first rolled out in 2018.

The policy stops users from posting misleading content that can dissuade people from voting.

There will also be a crack down on claims that undermine the public’s confidence in the results.

It follows the 2020 Presidential election, where the company was accused of not doing enough to stop the spread of misinformation.

All 435 seats in the U.S. House will be up for grabs alongside around a third of senate seats.

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