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Cranberry Journal

Tuesday, November 10, 2026

Also in this edition
Markets
  • S&P 5007,549.94+2.35%
  • Nasdaq25,253.14+2.74%
  • Dow52,389.75+2.15%
  • 10-yr yield4.95%+1.85%
  • Crude$84.66−2.52%
At the close · Nov 10

Australia

Tagged stories

The glass tower of Westpac Place in Sydney, with the red Westpac W logo near its top, rising behind lower office buildings under a clear late-afternoon sky.
Business

Westpac's Operating Profit Rose $379 Million Last Year. It Set Aside $440 Million More for Bad Loans, Though Fewer of Its Borrowers Are in Trouble.

Westpac earned A$7.0 billion excluding notable items in the year to 30 September, unchanged from a year earlier, and A$6.8 billion on a statutory basis, down 1 per cent, it said on Monday 2 November. Impairment charges doubled to A$864 million. The bank expects Australian interest rates to stay elevated into 2027, a day before the Reserve Bank meets.

By Daniel Okafor  

An aerial view of a landfill, with a compactor driving across a broad layer of mixed household waste and bare earth beyond.
Business

EQT Agreed to Buy Cleanaway for A$3.095 a Share, a A$9.3 Billion Deal. Three Days Earlier, the Stock Fell 7.6 Per Cent and the ASX Asked Why.

Cleanaway Waste Management said on Monday 19 October, Sydney time, that it has signed a binding scheme implementation deed under which an EQT Infrastructure vehicle will buy all its shares for A$3.095 each in cash, implying an enterprise value of about A$9.3 billion. The board recommends the deal subject to an independent expert's report. Shareholders vote before the end of February 2027, and FIRB and ACCC clearance are still needed.

By Daniel Okafor  

Two construction cranes stand beside glass office towers and a building still in its steel frame, behind blue site hoardings for the Sydney Metro West project, under a sky streaked with cloud.
The Numbers

Metrics Cut Its Funds by Up to 12 Per Cent. KPMG Still Would Not Sign.

One of Australia's largest private credit managers wrote down three listed funds on Monday, by 2, 10 and 12 per cent, and said a clean audit was expected on Wednesday. On Wednesday the auditor said it was not ready. Metrics has now suspended redemptions and stopped publishing net asset values in the unlisted funds underneath. The share prices had been pointing at a lower number for months.

By Daniel Okafor