Business 22 April 2026 - 24 April 2026

KPMG Cuts 10% of U.S. Audit Partners After Retirement Push Falls Short
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KPMG Cuts 10% of U.S. Audit Partners After Retirement Push Falls Short

KPMG will cut about 10% of its U.S. audit partners, affecting roughly 100 senior staff, after earlier voluntary-retirement efforts fell short. Partners learned of the move Wednesday. The firm’s U.S. audit business remains profitable, but KPMG cites overcapacity and changing staffing needs, partly due to AI. Departing partners will receive financial packages and job placement support.
April 24, 2026
Lynas Rare Earths Revenue Jumps 115% as U.S., Japan Lock In Non-China Supply
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Lynas Rare Earths Revenue Jumps 115% as U.S., Japan Lock In Non-China Supply

Lynas Rare Earths reported March-quarter sales of A$265 million, up 115% year-on-year, as buyers sought supply outside China. Average selling price reached A$84.60 per kg, with NdPr prices up 25% from the prior quarter. The company produced 3,233 metric tons of rare earth oxides and signed new supply deals with Japan and the U.S. Rising input costs remain a concern.
April 24, 2026
Qantas Beats Virgin On Punctuality As Fuel Shock And Fare War Bite
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Qantas Beats Virgin On Punctuality As Fuel Shock And Fare War Bite

Qantas and QantasLink led Virgin Australia in March on-time arrivals and departures, according to new federal data. Qantas posted 81.9% on-time departures and 80.1% arrivals, ahead of Virgin’s 78.7% and 77.7%. Virgin had a lower cancellation rate at 1.8%, compared to Qantas’ 3.2%. The results come as Qantas launches a domestic fare sale and manages higher fuel costs.
April 24, 2026
Cochlear Shares Extend Rout After FY26 Profit Cut, Weak Demand Warning
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Cochlear Shares Extend Rout After FY26 Profit Cut, Weak Demand Warning

Cochlear slashed its fiscal 2026 profit forecast to A$290 million–A$330 million, down from A$435 million–A$460 million, citing weaker implant demand and Middle East conflict uncertainty. Shares plunged 40.7% Wednesday and fell another 4.6% Thursday to A$95.00. The company warned of flat developed-market revenue and possible order cancellations. Analysts called the downgrade “far worse than anticipated.”
April 23, 2026
BHP Group Ltd Adds China’s COREX Index in Iron Ore Deal That Ends Months-Long Standoff
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BHP Group Ltd Adds China’s COREX Index in Iron Ore Deal That Ends Months-Long Standoff

BHP has agreed to use China’s COREX iron ore benchmark for Jimblebar fines contracts, ending a dispute with China Mineral Resources Group that had restricted some purchases. The contract runs through BHP’s 2027 financial year and includes a 1.8% rebate per vessel, sources said. BHP’s March-quarter Western Australia iron ore output beat estimates at 69.8 million tons. BHP shares rose up to 1.8% after the news.
April 23, 2026
Tesla Earnings: Profit Beat Faces a $25 Billion AI and Robotaxi Test
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Tesla Earnings: Profit Beat Faces a $25 Billion AI and Robotaxi Test

Tesla raised its 2026 capital spending plan to over $25 billion, citing investments in AI, robotaxi, and Optimus robot projects. First-quarter net income rose 17% to $477 million on revenue of $22.39 billion. Deliveries climbed 6% to 358,023 vehicles, while capital expenditure jumped to $2.49 billion from $1.49 billion a year earlier. Tesla shares fell 3.5% despite higher profit and free cash flow.
April 23, 2026
Reckitt Benckiser Group plc Misses Q1 Sales Forecast, Warns on Margins as Oil Shock Bites
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Reckitt Benckiser Group plc Misses Q1 Sales Forecast, Warns on Margins as Oil Shock Bites

Reckitt Benckiser missed first-quarter sales forecasts and warned first-half margins will fall about 2 percentage points from last year due to higher oil costs and weak cold-and-flu demand. Shares dropped 4.6% Wednesday. Core like-for-like revenue rose 1.3%, below expectations, with reported group revenue down 11.8% to £3.25 billion. Seasonal OTC sales fell 10.8%, while germ protection grew 9.5%.
April 23, 2026
British American Tobacco Extends Share Buyback Through June as Velo Gains on Zyn
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British American Tobacco Extends Share Buyback Through June as Velo Gains on Zyn

British American Tobacco bought 165,340 shares for cancellation on April 22 at an average price of 4,103.8172 pence each, leaving 2.17 billion shares outstanding. Merrill Lynch International will run the buyback through June 29, with disclosures shifting to weekly under new UK rules. BAT continues buybacks as it invests in newer products and faces regulatory scrutiny over nicotine pouches in the U.S.
April 23, 2026
WH Smith Profit Warning: Retailer Suspends Dividend as Iran War Hits Airport Spending
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WH Smith Profit Warning: Retailer Suspends Dividend as Iran War Hits Airport Spending

WH Smith cut its full-year profit forecast to £90–£105 million, suspended its dividend, and reported a statutory pre-tax loss of £25 million for the half-year. Shares closed down 9.15% after falling as much as 17%. The company cited weaker passenger numbers and spending, particularly at airports affected by Middle East conflict. WH Smith said it is cooperating with a UK regulator’s probe into past accounting issues.
April 23, 2026
Unilever PLC’s McCormick Food Deal Hits Fresh Labor Snag as Q1 Update Nears
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Unilever PLC’s McCormick Food Deal Hits Fresh Labor Snag as Q1 Update Nears

Unilever’s European employee representatives are demanding binding job protections in the planned $44.8 billion merger of its foods business with McCormick, raising concerns ahead of the deal’s expected mid-2027 close. The works council, representing about 20,000 staff, wants guarantees similar to those secured in the 2025 Magnum spin-off, exceeding minimum legal requirements.
April 23, 2026
RELX PLC Reaffirms 2026 Outlook, Starts £350 Million Buyback as Legal AI Growth Holds Up
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RELX PLC Reaffirms 2026 Outlook, Starts £350 Million Buyback as Legal AI Growth Holds Up

RELX Plc launched a new £350 million share buyback after shareholders approved repurchase authority at its annual meeting Thursday. The company maintained its 2026 outlook, citing strong revenue and profit growth across all divisions. All 21 AGM resolutions, including a 48 pence dividend, passed with over 99% support. The buyback will run from April 23 to May 22, managed by J.P. Morgan.
April 23, 2026
Anglo American plc Revives Coal Sale as Three Bidders Circle Australian Mines
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Anglo American plc Revives Coal Sale as Three Bidders Circle Australian Mines

At least three bidders, including Stanmore Resources, Mitsubishi Corp, and PT Buma Internasional Grup, remain in contention for Anglo American’s Australian steelmaking coal assets, Bloomberg reported Thursday. The sale process, managed by Goldman Sachs and Morgan Stanley, resumed after Peabody Energy abandoned a $3.78 billion deal last year following an underground fire at Moranbah North.
April 23, 2026
Rolls-Royce Holdings plc lands Australia frigate and U.S. Coast Guard work as defence orders build
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Rolls-Royce Holdings plc lands Australia frigate and U.S. Coast Guard work as defence orders build

World Star Aviation and Magellan Aviation Group completed a deal for three Boeing 737-800s leased to Eastar Jet, while Aergo Capital sold a 737-800 on lease to Hainan Airlines to Inno One Group. Boeing delivered 143 commercial jets in Q1, outpacing Airbus’s 114. Boeing says first deliveries of the 737-7, 737-10, and 777-9 will come in 2027 amid ongoing supply constraints.
April 23, 2026
Haleon PLC Drops Asia Symbol After Deforestation Probe: Why Sensodyne Maker Faces New ESG Test
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Haleon PLC Drops Asia Symbol After Deforestation Probe: Why Sensodyne Maker Faces New ESG Test

Haleon PLC dropped Asia Symbol from its packaging supply chain after an investigation linked the paper group’s pulp to Indonesian rainforest clearance. Haleon said its review found no evidence deforestation-linked material entered its products but called the findings “very concerning.” The move comes as Haleon expands in China and days before its first-quarter results and annual meeting. Asia Symbol denies its pulp for Haleon came from disputed sources.
April 22, 2026
IAG Shares Slide as Jet-Fuel Shock Hits British Airways Owner Before Q1 Results
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IAG Shares Slide as Jet-Fuel Shock Hits British Airways Owner Before Q1 Results

International Consolidated Airlines Group shares fell 2.1% in London after Brent crude rose above $100 a barrel, following reports of gunfire hitting ships in the Strait of Hormuz. IAG said it faces higher fuel costs but no supply disruptions. Brussels is weighing mandatory jet-fuel reserves as the International Energy Agency warns of possible shortages by June. IAG will report first-quarter results on May 8.
April 22, 2026
Glencore plc’s South Africa Power Deal Could Revive Smelters, But NERSA Still Holds the Key
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Glencore plc’s South Africa Power Deal Could Revive Smelters, But NERSA Still Holds the Key

Glencore-Merafe’s South African ferrochrome smelters could restart after Eskom agreed to a 62c/kWh power tariff, pending approval from energy regulator NERSA. The company has paused job cuts until May 11 as it awaits the regulator’s decision. The timing coincides with Glencore’s April 30 production report. Final approval and commercial terms remain uncertain.
April 22, 2026
BP PLC Chair Gains Key Investor Backing Before AGM Climate Vote Fight
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BP PLC Chair Gains Key Investor Backing Before AGM Climate Vote Fight

BP Chair Albert Manifold has backing from at least three major shareholders ahead of Thursday’s annual meeting, Bloomberg reported. Norway’s $2.2 trillion wealth fund will vote for Manifold, while Legal & General, Glass Lewis, and a UK pension forum oppose parts of the board’s stance on climate disclosure. The meeting comes before BP’s first-quarter results, with the company warning net debt will rise.
April 22, 2026
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Stock Market Today

  • ASX 200 Set to Rise After Dow Hits Record High; Brent Crude Eases
    May 24, 2026, 6:57 PM EDT. The ASX 200 is poised to rise following Wall Street's strong finish, where the Dow Jones Industrial Average closed at a record high of 50,579.70, up 0.58%. The S&P 500 recorded its longest eight-week winning streak since December 2023, buoyed by gains across nine of its 11 major sectors, led by healthcare, utilities, industrials, and technology. Semiconductor stocks mixed, with Qualcomm surging 12% while Nvidia fell 1.9%. Long-dated U.S. Treasury yields eased, with the 10-year note yield dropping to 4.558%, suggesting cooling bond markets. Market optimism is supported by solid earnings and economic data, despite geopolitical risks.