The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) went down 0.78.% on Thursday.
Australian Dollar ($A) (AUDUSD): 71.71US cents
Dow Jones (DJI): down 0.84%
Oil (WTI): $US52.14 per barrel
Gold: $US1,303 per ounce
ASX Sharemarket News
In ASX sharemarket news, Coles Group Limited (ASX: COL) is running a trial for customers to order ready-made and semi-prepared meals from the supermarket through the Uber Eats app and delivered by Uber Eats drivers for a $5 delivery fee, according to the Australian Financial Review.
The trial is being carried out in Pagewood, a suburb in Sydney. The aim is to get the orders to homes or places of work in under 30 minutes. The same types of food, such as a whole chicken, may be able to order food with more than a 33% discount compared to the cost of a typical meal. We’ll see if it still tastes as good.
Uber Eats thinks this is a good idea because it may offer a healthier option but is still well priced that can be for a different occasion.
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TPG Telecom Ltd
(ASX: TPM) has announced it’s ceasing the rollout of its mobile network in Australia.
According to the telco, it had chosen Huawei as its principal equipment vendor for the network because there was a simple upgrade path to 5G. However, the government has banned the use of Huawei on security grounds.
After spending and committing $130 million in total on the Huawei-led 5G, the telco couldn’t find a solution and has therefore stopped investing any further.
TPG Executive Chairman David Teh commented, “It is extremely disappointing that the clear strategy the Company had to become a mobile network operator at the forefront of 5G has been undone by factors outside of TPG’s control.”
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NAB (ASX:NAB) Raises Home Loan Interest Rates – Is It A Buy?
Debt collector business Credit Corp Group Limited (ASX: CCP) has reported its interim result for the six months to 31 December 2018.
It reported that revenue grew by 8% to $159 million and net profit increased by 13% to $33.6 million. Credit Corp also decided to increase its dividend by 16%.
Credit Corp CEO Thomas Beregi said: “Our uniquely resilient collection approach and our focus on continuous improvement have produced an outstanding result from our core debt buying businesses.”
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