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Global credit risk researcher Standard & Poors has reaffirmed Santos’ BBB-credit rating, fuelling an early jump in the South Australian oil and gas giant’s share price this morning.
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Santos will slash its 2020 capital spend by $550 million and defer a final decision on a major Northern Territory gas project in a bid to counteract plunging oil prices and coronavirus.
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Nova Group is growing its global reach after winning a $25.9 million Norwegian defence contract to support a maritime helicopter program.
Department giant Myer has reported a 37 per cent drop in first half profit, weighed down by restructuring cost, redundancies and the exit of Apple products and Country Road Group brands.
The market remains almost certain the Reserve Bank will act to cushion the impact of the coronavirus by cutting the cash rate to a record low 0.5 per cent.
A unique South Australian family merino wool company is still riding high on the sheep’s back after 100 years.
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