A2 Milk Company Ltd (ASX: A2M) shares opened higher today but have since retreated. At the time of writing, the A2 Milk share price is trading 0.12% lower at $8.68. This comes as previous CEO Jane Hrdlicka continues to make headlines over her comments published in Good Weekend on 12 March.

The comments were not well received by the current A2 Milk chair, David Hearn, and follow Hrdlicka's December 2019 shock exit from the company.

CEO drama

According to today's The Australian Financial Review (AFR), shots are being fired between the previous A2 Milk CEO and current chair David Hearn.

AFR reports that Hearn believes Hrdlicka's interview contains "falsehoods" and "mistruths". He wrote a letter to Hrdlicka on Monday this week demanding she retract some of her comments.

When Hrdlicka ignored the request, Hearn then sent the letter to the Sydney Morning Herald on Tuesday 16 March. No public response has been issued to date.

AFR adds that Ms Hrdlicka, however, released the following statement:

The information in the letter contains false statements, is contextually incorrect and designed to inflict maximum damage on me personally. I wrote to Mr Hearn today seeking clarification and further information on a number of matters and have not yet received a reply.

What did the letter say?

AFR further discusses that, in his letter, Mr Hearn raised three "falsehoods". He claims that Hrdlicka was dishonest about consultants she appointed, why she left A2 Milk and how the company's IT team is set up.

He points out that Hrdlicka used roughly 80% of a NZ$33 million budget hiring consultants from Bain & Company, where she had previously worked. According to AFR, Hearn said that Bain & Company was hired by Hrdlicka without her having consulted the executive committee.

Hrdlicka disputed these previously made accusations during the Good Weekend interview. 

Mr Hearn concluded his letter advising that Ms Hrdlicka is now in breach of her signed separation deed. If she continues interacting with the media regarding A2 Milk, the letter implies there will be legal ramifications.

A2 Milk share price snapshot

Over the past year, the A2 Milk share price has fallen by around 43% amid ongoing woes surrounding the company's daigou channel. Year to date, A2 Milk shares have also fallen by nearly 26%.

Based on the current share price, the company has a market capitalisation of around $6.5 billion with 743.4 million shares outstanding.

The post A2 Milk (ASX:A2M) share price lower amid ex CEO drama appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

QSuper and Sunsuper Pty Ltd are gearing up for a merger that will create a $200 billion superannuation fund servicing two million members. 

SunSuper announced that the merger – which will see the new entity become the second-largest superannuation fund in Australia – is scheduled for September 2021. 

SunSuper CEO to lead new superannuation fund

The release advised that Sunsuper CEO Bernard Reilly will lead the merged entity, a move welcomed by Sunsuper chair Andrew Fraser and QSuper chair Don Luke. They said in a joint statement:

Bernard brings a global perspective, with a proven track record in leading large-scale enterprises in Australia and internationally.

He is an exceptional candidate to lead the establishment of what will be a major, and enduring, Australian superannuation fund.

According to the release, QSuper CEO Michael Pennisi intended to leave in October 2020 following his 5-year tenure. However, he stayed the extra months to see the merger through.

QSuper's side of the new business puts $120 billion on the table and brings 600,000 members to the deal. SunSuper brings $80 billion to the fund and 1.4 million members. 

QSuper and SunSuper move to finalise deal 

As the historic superannuation deal marches toward its September closing, both parties are ironing out the conditions.

According to a report in the Australian Financial Review, the Queensland Government supports the merger depending on conditions that are under negotiation. These include that the new entity maintains the same defined benefits and associated liabilities as the original funds. In addition, the new entity must have government representation and satisfy key stakeholders.

Commenting on the agreement, Mr Fraser and Mr Luke said:

Each of our boards believe that signing a Heads of Agreement is in their members' best interests and we are each taking the next step to realise the potential of this merger.

Foolish Takeaway

The heads of agreement signed by SunSuper and QSuper is a non-binding agreement. If the merger is successful, one of the biggest financial powerhouses in Australia will take shape.

The post QSuper and Sunsuper to merge as 2nd largest superannuation fund appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

It hasn't been a great day for companies in the buy now, pay later (BNPL) sector. The Afterpay Ltd (ASX: APT) share price fell into the red, as did shares in fellow payment providers Zip Co Ltd (ASX: Z1P) and EML Payments Ltd (ASX: EML).

Comparatively, the S&P/ASX 200 Index (ASX: XJO) closed 0.6% up. So why did the share prices of these 3 BNPL companies drop today?

ASIC continues BNPL probe

The BNPL industry is on the Australian Securities and Investments Commission's (ASIC) radar.

According to the Australian Financial Review, ASIC is concerned that consumers are not clear on how the BNPL businesses operate. 

ASIC believes that while the payment services that companies like Afterpay, EML Payments and Zip offer are convenient, some consumers are not aware of how the transactions are actually structured. 

Specifically, ASIC is now probing into whether the BNPL companies meet the regulator's new design and distribution obligations (DDO). The DDO has to do with how a business defines its consumers, how it determines the services required and how the product is delivered.

Afterpay share price sinks 4.5% as BNPLs slide

The Afterpay share price closed down 4.5% today, trading at $108.28 a share. The Zip share price lost 1.1%, and the EML Payments share price dropped 0.97%.

ASIC has voiced its concern that the BNPL industry has grown far too quickly without being regulated. Its new regulations are scheduled to be enforced come October.

The general idea of enforcing the new BNPL rules is consumer protection. The DDO will also apply to other sectors and industries. However, BNPL is the first target set to try the new regulation out on.

Foolish takeaway

All businesses have an obligation to be transparent and not pull the wool over the eyes of consumers. 

The BNPL companies were bound to hit a regulation hurdle sooner or later, and being selected to test drive the DDO framework can potentially send a strong regulatory message from a fairly new space.

Investors will undoubtedly be interested in discovering what the DDO rules will mean for ASX BNPL companies and others once enforced.

The post Why did the Afterpay (ASX:APT) share price and 2 other BNPLs fall today? appeared first on The Motley Fool Australia.

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Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends EML Payments. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The News Corporation (ASX: NWS) share price snuck up 0.7% today to reach $31.58 by the market's close.  

This follows news last night reported by The Australian that News Corp and Facebook Inc (NYSE: FB) are on "the cusp of a commercial agreement".

The agreement relates to Facebook's compliance with parliament's news media bargaining code that came into force last month.

Facebook to pay News Corp for use of its journalism

Many assumed there was bad blood a few weeks ago between Facebook and media outlets after Facebook banned Australian users from posting news content. However, according to The Australian, we can expect to hear something over the coming days about an agreement being reached between News Corp and the social media giant. Facebook has already struck deals with some other Australian news media outlets. 

As a product of parliament's News Media and Digital Platforms Mandatory Bargaining Code, Facebook and Alphabet Inc's (NASDAQ: GOOGL) ((NASDAQ: GOOG) Google must pay local news publishers to feature their content.

The news media bargaining code only applies when the government deems there is a major imbalance between the news media organisation and the digital platform.

Was anything else impacting the News Corp share price today?

Outside of the news media bargaining code featuring in the news, there hasn't been much else of note going on for News Corp lately. The last price-sensitive update provided by the media giant was back on 18 February when it advised the market it had reached an agreement with Google regarding the use of its content. 

Reuters reports that the US is presently addressing the same issue that's currently being worked out between Facebook and News Corp.

On Friday in Washington, the antitrust subcommittee convened to listen to industry insights regarding the problems facing news organisations. Specifically, how to control the hold that Facebook and Google have on how people consume news content.

It's hard to tell whether the news media bargaining code impacted the News Corp share price today since it was a rather uneventful day for the S&P/ASX 200 Index (ASX: XJO) overall.

The post Could this have moved the News Corp (ASX:NWS) share price today? appeared first on The Motley Fool Australia.

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Facebook. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Facebook. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Many Australians are watching with interest as changes to the JobKeeper and JobSeeker payments take effect this month.

While the implications of these changes for unemployment and the economy are yet to materialise, EY believes that Australia is on the right path.

Will the changes impact the Australian economy?

The Australian Financial Review (AFR) has today reported that EY categorises Australia with New Zealand, Denmark and South Korea with regard to our nation's management of the coronavirus pandemic.

However, for Australia to continue its march forward, one chief economist believes that businesses need to exhibit strong future growth prospects. 

Jo Masters noted in the AFR that, as Australia steers its way out of the pandemic, the next twelve months require a strong corporate sector.

The sector is also predicted to play a key role in boosting investing and driving economic growth once the JobKeeper payments end and JobSeeker is reduced.

EY says Australia is in "great shape"

EY continued that Australia is faring "above average" when compared to other similar economies. It believes that following coronavirus, Australia will be in one of the best positions to rebound from the economic and health blows dealt by the pandemic. As quoted by AFR, the report stated, "Australia is in great shape, one of the top performers when viewed against many comparable developed economies".

With JobSeeker changing and JobKeeper coming to a close, EY remains confident the country is well positioned to grow. However, businesses will have to help lead the way. 

Foolish takeaway

In addition to changes to the JobSeeker and JobKeeper programs, there's an economic support payment due to come out this month. This will be for eligible citizens who receive payments such as the aged pension, disability support or family tax benefit. It will also be implemented alongside the government's half-price airfare scheme.

And, if EY's report is anything to go by, Australians can be reassured regarding the current picture of our economy. 

The post EY praises economy as JobSeeker and JobKeeper supplements wrap up appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

After the federal government tried selling its half-price flight program to the Australian public yesterday, reality seems to have sunk in that the scheme is officially coming to an end. JobKeeper payments will conclude on 28 March 2021.

What does the ATO say about JobKeeper payments ending?

According to ABC News, the Australian Tax Office (ATO) believes it is owed hundreds of millions of dollars from companies who hustled the JobKeeper subsidy.

While some companies such as Domino's Pizza Enterprises Ltd (ASX: DMP), Nick Scali Limited (ASX: NCK) and Santos Ltd (ASX: STO) have paid back JobKeeper funds that were not required, many others have not.

20 Australian companies promised to repay approximately $144 million to the ATO, however, only $20 million has been paid back so far.

According to ATO second commissioner Jeremy Hirschhorn, the misused JobKeeper payments were issued to companies based on revenue, opposed to whether the company is profitable or not.

Some recipients used JobKeeper payments to pay executive bonuses and raise dividends, with experts stating they believe this is the product of a poorly designed policy. While the ATO isn't likely to admit an oversight, it's clear that the program has run its course and it's time for the next act.

Will the tourism and aviation support package save us?

While some businesses like Qantas Airways Limited (ASX: QAN) and Flight Centre Travel Group Ltd (ASX: FLT) will benefit from the federal government's follow up to JobKeeper, the new scheme isn't pleasing everyone.

The Australian Financial Review reports that duty free retailers are not happy about being left out of the new funding package. Considering the current crux on international travel, being denied a dime of the $1.2 billion support package doesn't sit well with some people in the industry.

Richard Goodman, who is the Managing Director of Heinemann Australia, said that sales are down 98%. He continued that without ongoing government support, such as the JobKeeper payment, cost decisions that may result in job cuts will have to be made.

The CEO of The Australian Retailers Association, Paul Zahra, commented:

"It's good to see focused support for the tourism and aviation industry locally and the flow-on effects that will have for some retailers, but this [package] overlooks support for businesses severely impacted by international border closures."

Foolish Takeaway

As a replacement to previous JobKeeper payments, the government is turning to the ravaged tourism and travel industries for its next approach.

Rating agencies are also paying attention to how the country is addressing its financial commitments as the coronavirus continues to leave its mark.

The JobKeeper payment is going to end, the next support package will take effect. Depending on how that goes, we'll see where we land next.

The post The JobKeeper payment is ending. So what will happen next? appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy owns shares of Flight Centre Travel Group Limited and Qantas Airways Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Nasdaq Inc (NASDAQ: NDAQ) is waiting to hear from the Securities and Exchange Commission (SEC) regarding its board diversity proposal.

A request was submitted in December 2020 regarding the board diversity policy that Nasdaq can set for the businesses trading on its exchange.

The Wall Street Journal reports that Nasdaq will have to wait until August (at the latest) for the SEC's ruling regarding its request.

Why does Nasdaq want more board diversity?

According to the WSJ, Nasdaq wants more women, racial minorities and LGBT individuals on its boards. If a company's board cannot meet the requirements, Nasdaq wants public disclosure of why it cannot.

The exchange has set board targets that include at least one woman and a director that identifies as a racial minority or lesbian, gay, transgender, bisexual or queer.

Following a recent audit of its boards, Nasdaq discovered that more than three-quarters of its listed companies do not meet its envisioned diversity metrics. This resulted in pursuing the SEC to update the exchange's rules.

Why is the SEC dragging its feet?

Last month, 12 Republican members of the US Senate Banking Committee wrote a letter to the SEC expressing concerns over the Nasdaq proposal.

The SEC claims that it has delayed the process due to the complexity of the request. By deciding to "institute proceedings", the SEC automatically receives a 90-day extension for the outcome. This can be further extended by another 60 days, which is what takes us to August 2021.

If the SEC accepts the proposal, all Nasdaq listed companies will have to disclose board diversity statistics within twelve months.

Foolish Takeaway

Variety is the spice of life. Many businesses are already considering how diverse the group is and why it's important to have an assortment of professionals steering the ship. This comes as part of the general corporate and social responsibly (CSR) movement.

Nasdaq has taken a significant position with its SEC request. We'll be waiting to hear about the outcome and what it will mean for the market.

The post Nasdaq wants its boards to be more diverse appeared first on The Motley Fool Australia.

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This comes after the company released its half-year results yesterday.

Here's a rundown of what Vulcan reported.

Vulcan Energy HY20 financials

For the HY20 period ended 31 December 2020, Vulcan posted revenue that beat the previous corresponding period (PCP) by 1,182%. Vulcan's HY20 revenue totalled $372 thousand compared to $29 thousand in the PCP.

The lithium producer posted a total comprehensive loss of $6 million for HY20 vs a $1.8 million loss in HY19.

As of 31 December 2020, Vulcan held $5.8 million of cash and cash equivalents compared to $3.1 million in the PCP.

Expenses related to employee benefits and investor relations both increased as Vulcan expands its operation.

Vulcan continues to push battery production

The company commissioned a series of Direct Lithium Extraction (DLE) tests during HY20 to support its battery production efforts.

The results discovered that the geothermal brine produced from the company's Upper Rhine Valley site in Germany had a lithium recovery rate that exceeded 90% on the first pass.

In the HY report, Vulcan emphasises its intention to provide an electric vehicle (EV) battery-quality lithium to suit the European market.

The EU is the fastest-growing adapter of EVs and has strict environmental restrictions on lithium. Currently, China is the largest provider of lithium-ion batteries to the EU. Vulcan is hoping to fill that spot.

Notably, from 1 January 2026, lithium-ion batteries in the EU will require a certain class label. From 1 July 2027, carbon thresholds will be added to environmental compliance measures.

Vulcan believes it is well-positioned within its strategy to meet these needs in the future.

Vulcan Energy share price snapshot

Over the past year, the Vulcan Energy share price has exploded 2,957% higher.

At the current share price, the company's market capitalisation is $590 million. There are 107.5 million shares outstanding.

The post Vulcan Energy (ASX: VUL) share price up as revenue soars over 1,000% appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

While some Australians are gearing up to take advantage of the government peddling half-price flights as part of its latest stimulus, Standard & Poor's is watching Australia's credit rating.

Countries are assigned credit ratings as a reflection of economic stability. A rating downgrade can result in higher interest rates because the country's government loses access to foreign investors.

GDP forecast not AAA worthy

Today's The Australian Financial Review cites that S&P's lead Australia credit analyst Anthony Walker doesn't think Australia's current economic outlook will merit the top AAA rating.

Mr Walker predicts that 2021 will see federal and state deficits that equal approximately 14% of GDP. He doesn't believe a AAA rating will be granted if that's the case.

To conclude a country's credit rating, S&P consolidates all government debt to achieve a general estimate. The ratings agency then bases its outlook on that number.

Australia's current S&P rating is AAA with a negative outlook. The country also boasts the top rating from two other major ratings agencies, Moody's and Fitch.

Will half-price flights boost our credit rating?

Considering a country's credit rating is based on its debt, arguable offering half-price airline tickets isn't likely to address a score axing.

However, rating agencies do take into account the rate of economic growth a country demonstrates. On that note, depending on whether the initiative is effective, Australia may enjoy a spike in consumer spending as the half-price-flights party gets started. In turn, that could help appease S&P.

An editorial in today's The Australian likes the travel boost concept and thinks the government has made the right decision. It estimates that Australia's domestic tourism businesses employ 611,000 people and pump over $100 billion into the economy annually.

Foolish takeaway

Credit rating downgrades aren't the end of the world. Quite often, an entity will put in the necessary work to shape up once it learns an agency has put its rating on watch.

We won't know if the latest economic stimulus crack is effective until a few months down the road. In the meantime, hopefully, the half-price flight scheme leads to some banger domestic holidays. 

The post Will half-price flights save Australia's S&P credit rating? appeared first on The Motley Fool Australia.

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As the JobKeeper payment wraps up, the Flight Centre Travel Group Ltd (ASX: FLT), Webjet Limited (ASX: WEB) and Qantas Airways Limited (ASX: QAN) share price are all having a party this afternoon. Especially the Flight Centre share price, which is presently up 10%.

The JobKeeper payment is coming to a close and the new package to replace it is a hot topic today. Particularly because it includes 800,000 half-priced airfares within the $1.2 billion stimulus package.

So why exactly are travel and tourism stocks rallying while the government prepares to reel in the JobKeeper payment? And what does the package look like next to US President Joe Biden's latest stimulus?

How will half-price airfares help the economy?

Commenting on the subsidised ticket scheme, Prime Minister Scott Morrison said that the new program "…means more jobs and investment for the tourism and aviation sectors as Australia heads towards winning our fight against Covid-19 and the restrictions that have hurt so many businesses."

Investors were happy to hear about the upcoming cash injection to the tourism industry. The Qantas share price is up 2.13% to hit $5.28 a share and the Webjet share price has flown by 4.44% to touch $6.12 at the time of writing.

In addition to the market support we're seeing, the government is betting that the discounted ride will also get consumers out to spend money.

Prime Minister Morrison concluded: "Our tourism businesses don't want to rely on government support ­forever… they want their tourists back." 

Do airline tickets or cash lead to quicker spending?

Meanwhile, the US is rolling out a $1.9 trillion relief bill, which essentially puts US$1,400 in the pocket of many Americans. 

A lesson already learned in Australia is that COVID-19 stimulus checks led to a gambling surge, a similar pattern we witnessed during the 2009 stimulus package.

The National Library of Medicine performed research around that stimulus and revealed that the issued cash allowances resulted in a 26% increase in electronic gaming machine (EGM) revenues. Over $60 million in additional tax revenue for state governments was also accrued. 

It seems likely that the federal government kept this in mind when considering how to package up this round of benefits. The question is, will people take advantage of the offering? Or is it just business that is catching a break?

Foolish takeaway

While some investors are likely enjoying the rally we're seeing with tourism stocks today, such as the Flight Centre share price gaining more than $1 a share, we're looking at a much bigger picture.

The JobKeeper payment was an economic staple for a decent amount of time and the new stimulus package has big shoes to fill. We'll have to wait and see if half-price airfares will be up for the challenge. 

The post Should the JobKeeper payment be replaced with discounted airfares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy owns shares of Flight Centre Travel Group Limited and Qantas Airways Limited. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Piedmont Lithium Ltd (ASX: PLL) share price jumped 10% in today's trade to close at 88 cents a share. 

The gain comes after this morning's announcement about a change in substantial holdings.

Here's a wrap of Piedmont's latest release and what else has been happening in the lithium industry lately.

BNYMC beefs up holdings, Piedmont share price shoots

The Bank of New York Mellon Corporation (BNYMC) increased its Piedmont holdings by approximately 15 million shares.

This raises BNYMC's voting power in the company to 62.99%.

The Piedmont Lithium share price was also on the move last week. The jump followed the company being granted court approval to pursue shareholder approval to redomicile from Australia to the United States.

Piedmont lists a number of benefits attached to the US move. Among them are lower compliance costs, acquisition opportunities, improved access to US capital markets, and a simplified corporate structure.

Australia's first lithium hydroxide plant dukes it out

Meanwhile, the Australian Financial Review reports that the engineers of Australia's first lithium hydroxide plant are still in court battling the Chinese entity Tianqi for roughly $39 million in fees.

MSP Engineering was appointed to build the plant for Tianqi, which is now selling part of its stake to IGO Ltd (ASX: IGO) prior to paying the engineers.

The move positions IGO amongst the predicted-to-be booming lithium industry in Western Australia. Speaking to AFR about supply and demand in the lithium market, IGO Managing Director Peter Bradford said:

With the underlying electric vehicle, clean energy thematic, the worst thing that can happen there is that the supply side is unable to meet demand and we actually slow down the roll-out of electric vehicles etc.

Piedmont share price snapshot

Piedmont Lithium focuses on the development of its 100% owned Piedmont Lithium Project in North Carolina, USA.

Over the past 6 months, the Piedmont share price blasted 872% higher.

The post Here's why the Piedmont (ASX:PLL) share price jumped 10% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Ecograf Ltd (ASX: EGR) share price is on the move today. The company announced government approval progress relating to its Epanko Graphite Mine before the stock shot up.

At the time of writing, the Ecograf share price is up 4.76% to 67 cents a share.

Epanko Graphite Mine financing progresses

Ecograf announced that the company has progressed the debt financing approval of US$60 million for its Tanzania-based Epanko Graphite Mine.

The Ecograf share price reacted positively to this news considering that the business has already invested $20 million over the past 7 years in Epanko.

Progress made to date includes completion of the feasibility study, obtainment of environmental approvals, and execution of an independent engineer's review.

The business has also put capital toward arranging sales contracts for the export of graphite products to Europe and Asia.

In today's announcement, Ecograf also attached a summary of the Epanko Bankable Feasibility study. In the summary, Ecograf forecasts that the Epanko Graphite Mine will generate earnings before interest, tax, depreciation and amortisation (EBITDA) of US$80 million per annum.

Ecograf intends to offer an electric vehicle battery graphite option that "provides a high quality, cost competitive alternative to existing battery graphite produced using toxic hydrofluoric acid."

The report further notes that the metallurgical test work has shown the mine's potential to produce 99% carbon concentrate from fresh ore.

High quality carbon helps cut purification costs connected with battery graphite production. Ecograf estimates that the average graphite concentrate production of the Epanko mine will be 60,000 tonnes per annum.

Ecograf share price snapshot

The Ecograf share price exploded 1,045% higher over the previous year and has soared 668% over the past six months.

The company has a market capitalisation of approximately $307.1 million and there are 455 million shares outstanding.

The post Ecograf (ASX:EGR) share price powers up on government approval news appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Australian economy is prepping for a 28 March 2021 axe of the federal government's JobKeeper payment scheme. 

The JobKeeper scheme has been a critical tool in battling the economic effects of the coronavirus.

Following the approval of US President Joe Biden's stimulus package, many Australians are wondering what comes after JobKeeper, and what its cessation means for the economy.

Economist predicts dramatic job losses

Today's The Australian features Commonwealth Bank of Australia (ASX: CBA) economist Nicholas Guesnon discussing his opinion about JobKeeper payments coming to an end.

Guesnon believes that up to 110,000 employees working in sectors still vulnerable to the economic impacts of coronavirus, like travel, are at risk of losing work. He estimates up to 25% of employees presently receiving the benefit could lose their job.

Guesnon further mentioned that he thinks the transport, arts and recreation, accommodation and food services sectors will suffer a blow in the coming weeks. This is due to these industries' association with and reliance on international travel, an important part of the economy that's been ravaged by the pandemic.

NSW Treasurer says JobKeeper payments must end

New South Wales Treasurer Dominic Perrottet supports the winding up of the JobKeeper scheme.

According to the Sydney Morning Herald, Perottet said:

We cannot continue to make decisions today that impact generations to come to pay back the depth of the circumstance we find ourselves in… 

We need a proportionate and measured response.

Perrottet's guess at which sectors of the economy would feel the biggest hit from JobKeeper payments disappearing include construction, manufacturing, administration and tourism.

Foolish takeaway

Some economists, such as Su-Lin Ong at RBC Markets, aren't expecting anything too crazy to happen once JobKeeper payments end.

The Australian notes that she expects a short-lived disruption to the economy when unemployment numbers rise before they fall again.

But considering the stimulus packages that continue to be dished out around the world, the Australian Government may still be considering its next move after JobKeeper.

The post Will the economy shed 100,000 jobs when JobKeeper payments stop? appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

What was weighing on the Openpay share price today?

In addition to the broader tech share sell-off, the Australian Financial Review recently reported that the buy now, pay later (BNPL) providers have drawn up new standards to regulate the industry. Under the new regulations, credit checks will be more stringent.

This action follows a 2019 senate query into BNPL with the intention to protect customers. With big players like Afterpay Ltd (ASX: APT) involved in the mix, it's no wonder that the Australian Securities and Investments Commission (ASIC) and Reserve Bank are throwing in 2 cents about the new rules.

ASIC believes that too many customers are being charged late fees. The Reserve Bank thinks that the fee merchants charge is too high. 

The uncertainty over how these new standards will impact BNPL players could also be contributing to the negative sentiment.

What else is Openpay up to?

According to its first half FY21 update, Openpay has commenced a launch in the US. The Openpay US leg 'Opy' is taking shape in San Diego, California. The company is also planning to expand into the healthcare and automative industries in the UK.

The company also has major new merchants on board, with Ford Australia agreeing to offer Openpay payment options in addition to Kogan.com Ltd (ASX: KGN). 

Openpay also made note of the new regulatory environment in its latest earnings report. The company states that "Openpay is a code compliant member of the Australian Finance Industry Association (AFIA). It is expected that the AFIA Buy Now Pay Later Code of Practice will commence in March 2021."

Considering that the code of practice is so new, it's difficult for the market to form an opinion on the impact it will have on business.

Openpay share price snapshot

The Openpay share price has fallen 24% over the past three weeks.

At the current price, the Openpay market capitalisation is $275.4 million. There are 108 million shares outstanding.

The post Why did the Openpay (ASX:OPY) share price slide today? appeared first on The Motley Fool Australia.

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Gretchen Kennedy owns shares of Kogan.com ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

With iron ore continuing to float the economy, the question of how China truly feels about Australian coal is stealing headlines.

The Australian reports today that the nation's total exports to China have broken a new record. This implies that China isn't all that mad given it is still spending its money here.

Meanwhile, the Australian Financial Review poses the question of whether or not the China coal ban is permanent and what that means for the economy.

So what's actually going on? What does China really think about Australian coal?

Iron ore exports undermine Beijing's ban 

According to The Australian, the total value of Australia's exports to China rose 8.2% in January and February 2021. Iron ore led the pack.

China imported $26.6 billion worth of exports from Australia in the first two months of the year. This beats the last record set by the first two months of 2020 when exports pulled in $24.5 billion.

The article notes that the "elevated price of iron ore and liquefied natural gas — Australia's two biggest exports to China — more than compensated for crippling strikes on wine, lobster, timber, barley, beef and even coal, Australia's third biggest export to China."

Is it a trade war if you spend $148 billion?

In 2020, Australian exports to China reached the second-highest level in history, totalling $148 billion. 

The AFR report draws attention to the coal that China is still buying regardless of the "trade war".

According to the AFR, China likes to buy intermediate quality coal from Australia, and companies like BHP Group Ltd (ASX: BHP) are happy to sell it to them.

Coal quality is defined by kilocalories, which determine the efficiency of the energy created as well as the emissions that are produced — 5500 kilocalorie coal and up is considered high quality.

However, Yancoal Australia Ltd (ASX: YAL) CEO David Moult comments in the AFR that being able to accommodate different grades of coal is a strategic business move. He believes Australia is lucky to be one of the only producers that can offer a spectrum of grades.

Foolish takeaway

Fools say that there are two sides to every story and then the truth. Iron ore is not going out of style in Australia any time soon.

While geopolitical sagas will continue to rattle headlines, businesses find a way to adjust to changing environments. Although we hear a lot about a trade war with China, the amounts being traded seem to tell a different story. At least for today.

The post How does China really feel about Australian iron ore and coal? appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Splitit Ltd (ASX: SPT) share price has dropped 3.85% at the time of writing and is currently trading at $1.00 a share.

The Splitit five-day average volume of 2.5 million has been exceeded three out of the past five days. Today's trade volume currently sits at around 2 million shares.

Let's take a look at some recent happenings to consider what might be moving the Splitit share price and why it's being so heavily traded.

Why is the Splitit share price lower today?

The Wall Street Journal notes that the Nasdaq Composite Index is about to enter correction territory resulting in a slump for tech stocks.

The Splitit share price is dipping along with its big siblings Netflix Inc (NASDAQ: NFLX) and Facebook, Inc. (NASDAQ: FB) which lost 4.47% and 3.39%, respectively, in yesterday's trade.

The WSJ points out that the Nasdaq has declined for 3 consecutive weeks losing more than 2% last week. This is likely because investors are betting that growth will slow in the tech space as the coronavirus gradually winds down.

What's on the horizon for Splitit?

Reflecting on the achievements of 2020, Splitit CEO Brad Paterson said:

"Splitit delivered a breakout year with record financial and operational results in FY20, despite a globally challenging year due to the COVID-19 pandemic…

With financial empowerment and responsibility core to our values, 2020 was a year we refreshed our brand and visual identity that positions Splitit as the only buy-now-pay-later solution to empower shoppers to use their existing credit to pay over time…"

In the latest financial performance report Splitit advised that the company is well funded with plans to continue its "strong growth trajectory".

As of 31 December FY20, the company held US$92.8 million in cash.

Splitit snapshot

At the current share price, Splitit has a market capitalisation of $486.4 million. There are presently 456.7 million shares outstanding.

Over the past year, the Splitit share price has jumped 123.6%.

The post Splitit (ASX:SPT) share price sinks as trade volumes bounce appeared first on The Motley Fool Australia.

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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Facebook and Netflix. The Motley Fool Australia has recommended Facebook and Netflix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Less than two weeks ago, the Anteris share price zoomed up 23% following the release of its latest investor presentation. The stock has been on the rise since the release of its most recent earnings, despite not being particularly impressive. However, the company did announce a number of capital raising exercises.

Here's a closer look at the latest we've learned about Anteris.

Anteris share price climbs off weak results

Anteris reported a 58% revenue fall for the period ended 31 December 2020 (FY20). Earnings before interest, tax, depreciation and amortisation (EBITDA) tumbled to a loss of $13.7 million.

The company's year-end cash balance was $4.4 million.

The business posted an FY20 net loss after tax of $15.3 million. Anteris advised that the loss is associated with expenses relating to the development of its DurAVRTM aortic replacement valve.

Funding grants and new FDA approval

Anteris was granted $2.3 million in government grants during FY20. The business further notes that it secured a funding package of up to $20 million with New York investment fund Mercer Street Global Opportunity Fund, LLC.

In December 2020, Anteris raised $1.1 million in a private placement to sophisticated investors as part of a broader funding package.

Additionally, Anteris believes that its obtainment of a US Food and Drug Administration (FDA) approval for its transcatheter aortic valve replacement (TAVR) product in younger patients will lead to growth.

ASX queries Anteris

Intraday trading volumes were double the five-day average yesterday as the Anteris share price pumped. Total volume finished the day at 77.9K.

This resulted in an ASX query to which the company responded today. The ASX letter also asked about the jump in share price from $6.64 on 25 February 2021 to yesterday's high of $11.95.

Anteris replied that it is not aware of anything that would be moving the market. The company also confirmed its compliance with all of the ASX listing rules.

The post The Anteris (ASX:AVR) share price is down today but has soared 150% in 3 months appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Mesoblast Limited (ASX: MSB) share price has dipped 0.43% at the time of writing and is currently trading at $2.31 a share. This compares to the S&P/ASX200 Index (ASX: XJO), which has jumped 1.75% so far today.

In fact, over the past four months the Mesoblast share price has fallen more than 40%. So what's going on? 

Why is the Mesoblast share price going down?

Mesoblast carried out a capital-raising exercise, which was announced last week. The cash injection came just in time, as concerns about Mesoblast's dwindling cash flow have been weighing on the company's share price over the past few months.

On 28 February 2021, the Australian Financial Review quoted the auditor of Mesoblast's latest results, who stated that, "material uncertainty exists that may cast significant doubt on the group's ability to continue as a going concern".

For the 6-month period ended 31 December 2020, Mesoblast posted a loss of $33.2 million and the company's deficit stood at US$599 million.

So what does the capital deal look like?

Mesoblast raised US$110 million issuing 60 million shares at A$2.30 in a private placement led by a US investor group.

The money will be used to keep pushing the company's products through the necessary United States Food and Drug Administration (FDA) approvals in the second and third quarters. For example, work will continue on gaining US regulatory approvals pertaining to a back pain treatment that uses Mesoblast's rexlemestrocel-L drug.

Funding will also be allocated toward generally progressing its remestemcel-L and rexlemestrocel-L platforms.

The business advised that it will invest in a commercial supply of remestemcel-L and continue to advance the manufacturing and development of rexlemestrocel-L.

Mesoblast share price snapshot

Mesoblast has a market capitalisation of $1.4 billion and there are presently 623.5 million shares outstanding.

Over the past year, the Mesoblast share price has climbed by 26%.

The company is a developer of medicinal treatments for severe and life-threatening inflammatory conditions. It has locations in Australia, the United States and Singapore, and has commercialised two of its products in Japan and Europe.

The post What's weighing on the Mesoblast (ASX:MSB) share price lately? appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Why has the Sonic Healthcare share price been losing ground?

The Sonic Healthcare share price has lost ground recently — down 9% in the past month and 0.57% lower than this time 6 months ago.

However, according to the Australian Financial Review, record volumes are still being traded in Europe and the US.

Sonic is a business that benefitted greatly from the coronavirus pandemic. The world's third-largest medical laboratory company reported a 166% increase in profits during its last earnings report. Sonic's first half FY 2021 net profit totalled $678 million.

With COVID testing an obvious driver of Sonic's latest results, some investors are wondering if the business will be able to maintain the momentum going forward.

Will the coronavirus keep Sonic afloat?

As COVID-19 continues to be wrangled around the world, Sonic believes that there will be ongoing opportunities.

According to the AFR piece, Sonic CEO Colin Goldschmidt advised investors that he believes the market for serology testing will increase as a product of COVID. He also thinks a surge in testing demand is on the horizon as the vaccination distribution continues to grow.

However, one analyst commented that he feels that the need for testing is going to drop. Dr Saul Hadassin of UBS is neutral on the stock and has a target price for the Sonic share price set at $35.30.

He said (as quoted by AFR): "I did not move to a 'buy' as we felt the benefits they are accruing related to COVID testing would last about 18 to 24 months."

Foolish takeaway

The Sonic Healthcare share price has gained 6% on this time last year. The company has a market capitalisation of $15 billion with 477.8 million shares outstanding.

The post What's up with the Sonic Healthcare (ASX:SHL) share price? appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Chalice Mining Ltd (ASX: CHN) shares have tanked 6.25% at the time of writing to presently sit at $4.05.

Furthermore, since Wednesday's close, the Chalice share price has fallen by around 11%, significantly more than the 1.7% fall seen in the All Ordinaries Index (ASX: XAO) over the past two days.

Let's take a look at what the company has been up to.

Chalice Mining share price falls after latest presentation

On Monday, the Chalice Mining share price fell by nearly 4% after the miner released its latest investor presentation.

The ASX miner lists its Julimar site as Australia's first "major" palladium discovery.

Palladium is used to create catalytic converters that are said to be more environmentally friendly than other types of converters. In February 2020, palladium reached its record price of US$2,856 per ounce.

Chalice believes that the heavy transport industry and energy storage sectors are rapidly growing areas but future palladium demand will increase even more.

According to Chalice, the palladium market has been in deficit for nine consecutive years.

The presentation draws further attention to some of the company's gold operations and the Hawkstone nickel-copper project, noting that each of these areas has delivered compelling results.

What's ahead for Chalice?

Chalice Mining continues to progress the Julimar Project, specifically, the major PGE-NI- Cu-Co-Au discovery.

In 2020, the ASX miner raised approximately $130 million to move the Julimar Project forward.

The miner also highlighted in its presentation that it is building trust with the key stakeholders of the Julimar Project, including indigenous and local communities, landowners and government parties.

The company plans to continue progressing with building its team and maintaining a pipeline of discoveries. Chalice will also continue pursuing its other projects including the Pyramid Hill Gold Project, Hawkstone Nickel-Copper-Cobalt Project, South West Nickel-Copper-PGE Project, and Viking Gold Project, among others. 

Chalice Mining share price snapshot

Over the past year, the Chalice Mining share price has exploded more than 1,500% higher. Year to date, Chalice shares have fallen by around 6%.

The ASX miner has a market capitalisation of $1.5 billion and 341.8 million shares outstanding.

The post Chalice Mining (ASX:CHN) share price tanks 11% in 2 days appeared first on The Motley Fool Australia.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.