SYDNEY - Low-cost SIM card flogger Amaysim made a reasonable debut on the ASX yesterday. Its shares opened at $1.75 and closed at $1.90, compared with the $1.80 investors paid for the shares in the recent initial public offering, which raised $207 million.
Lenovo, the Chinese Company that has been caving up the Australia consumer PC market has hit a wall with the Company reporting a 19% slump in revenues, they also missed their revenue targets by more than $1 Billion.
The Australian Securities Commission has proposed slamming the door shut on ASX listings by start-up companies that have little in the way of turnover or profits. A major target appears to be a number of dubious technology start-ups - some of them based offshore - with little in the way of either.
Amazon who is currently scoping the Australian market with a view to launching a local version of their online store, has reported a massive surge in profit, a major contributor is the Companies Web services division who is this week holding a major conference in Australia.
David Teoh's ASX-listed Internet service provider TPG - Australia's fourth biggest ISP after Telstra, Optus and iiNet with 516,000 broadband subscribers - has reported net profit of $33.8 million, up 23 percent, for the six months to December 31.
Dell is getting set to sell US$16 billion (A$21 billion) or more of secured bonds as early as Tuesday in a bid to help fund its mammoth acquisition of storage company EMC. The yield on a 10-year bond is being offered at around 6.5 percent.
The Australian bitcoin industry is facing demands for more regulation, following recent events, including news that South Australian-based bitcoin exchange Igot may be on the brink of collapse, owing thousands of dollars to customers who sought to buy bitcoins.