US earnings season adds weight to Fed's up-beat view

US earnings season adds weight to Fed's up-beat view
Jenny Ruth
By Jenny Ruth May 6 (BusinessDesk) - Corporate America is adding weight to the Federal Reserve's upbeat view of the US economy with about three-quarters of the S&P 500 Index companies that have reported so far beating earnings forecasts. With only about 50 companies still to report, average March-quarter revenue growth is 5.2 percent, above the 4.8 percent forecast ahead of the reporting season. Last week, Fed chair Jerome Powell said economic activity is solid and that the lack of inflation pressures is probably due to “transitory fac...

More Economy

Briscoe Group says tax changes will hit FY net profit by $7.4m
Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.  

Rebecca Howard 05 Jul 2024
Core Crown tax revenue higher than expected in May accounts
Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024
Albanese pledges prosperity through manufacturing boost
Economy

Albanese pledges prosperity through manufacturing boost

Renewable energy and critical minerals key focus of $24 billion strategy.

AAP 04 Jul 2024