Reporting season: All the latest news from companies releasing financial results to the ASX today

Treasury Wine Estates has confirmed a well-flagged full-year loss of more than $1 billion as it offloads wine brands in Australia and puts the broom through its Americas business to adjust to a changing retail landscape for liquor.

Its flagship Penfold brand helped TWE just beat guidance for earnings before interest, tax and significant items of between $480 million and $490m, with thefinal figure coming in at $492.3m.

But adding back in hefty writedowns saw it post a net loss of $1.08b.

TWE on Monday slashed the value of its troubled US supply chain again by $558.4m as it grapples with declining wine consumption.

That was on top of the $687.4m of writedowns to the Americas business announced in December.

“F26 was a year of decisive action and significant change for Treasury Wine Estates,” said CEO Sam Fischer.

“While our financial performance reflected evolving market conditions and the proactive measures to ensure brand and channel health, we made substantial progress towards reshaping the business for long-term success.

“Penfolds, once again, proved it is a global luxury wine brand that transcends the wine category.”

The owners of Australia’s biggest aluminum smelter, including Rio Tinto, have secured a government bailout of $2.5 billion to keep the plant operating as they grapple with high energy costs.

Majority owner Rio and its partners at the Tomago smelter in NSW secured financial support from both the Federal and State governments, which will see the venture invest $1.1b in the facility.

The venture will also make the plant more flexible, so that it can reduce power consumption at times of high demand on the grid.

The bailout was first reported on Wednesday, without financial details.

Rio has previously said electricity accounts for more than 40 per cent of Tomago’s operating costs.

Prime Minister Anthony Albanese pledged financial support in December, after Rio warned that soaring costs could force the plant to close when its existing power-supply contract expires later this decade.

Tomago is Australia’s biggest single electricity user, consuming more than 10 per cent of the power in NSW. The investment will underpin almost 3 gigawatts of new renewable generation

Rio owns slightly more than half of the smelter, which has produced aluminum for more than 40 years. Gove Aluminium Finance and Norsk Hydro also hold stakes in the venture that operates the facility.

As part of the arrangement, the owners also committed to spending $100 million to reduce emissions.

The Tomago package follows government support secured by Rio in March for its Boyne smelter in Queensland, where the company received $2b in combined Federal and State funding.

Northern Star Resources has added more firepower to its under-siege board, appointing former Wesfarmers executive and BHP director Terry Bowen to its ranks - shunning a list of candidates put forward by an activist investor that has staked a claim on the miner’s register.

Mr Bowen will take on the role of independent non-executive director from September 1 after he leaves his role as president of Rokt - a global ecommerce technology company based in New York - on August 31 and returns to Perth.

He was finance director and managing director of Wesfarmerss industrial and safety business between 2009 and 2017, and before that was chief financial officer of Jetstar Airways.

Mr Bowen was also an independent non-executive director of BHP between 2017 and 2023, where he chaired the risk and audit committee.

The appointment comes just a day after activist investor Elliott Investment Management stepped up pressure on Northern Star, urging shareholders to support the appointment of Mark Cutifani and other big-name former mining bosses to the gold miner’s board.

Read more here ...

ANZ’s profit climbed in the third quarter as the bank grew customer deposits and lending expanded in its business and private banking division.

Cash profit rose to $1.9 billion in the three months ended June 30, the bank said this morning.

The lender said its return on tangible equity stood at 11.5 per cent, a metric chief executive Nuno Matos is hoping will improve over time.

“We continued to improve productivity, margins and business volumes, including accelerating growth in business banking and returning home lending to system growth,” Matos said.

Australia’s banking industry is grappling with a slowdown in the housing market, a key driver of profitability, after the Federal Government’s Budget in May removed a tax break on property investors and as interest rate hikes earlier this year increase mortgage repayments.

Rival Westpac’s shares are down more than 6 per cent this week after reporting a slump in mortgage applications on Monday, while larger peer Commonwealth Bank of Australia on Wednesday signalled those declines are stabilising.

ANZ said the value of home loan applications dropped 12 per cent between Budget night on May 12 and the end of July.

The S&P 500 and the Nasdaq has ended higher, lifted by upbeat quarterly results from CoreWeave and other AI infrastructure firms, while mild inflation data reinforced bets that the US Federal Reserve will hold interest rates steady in September.

US consumer prices barely increased in July as the cost of petrol declined for a second straight month while underlying inflation was benign, further reducing expectations of an interest rate hike from the Federal Reserve next month.

“The numbers came in right in line,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.

“The market’s reaction is slightly positive because the market was fearful it was going to come in worse than it did. You’re seeing a market thinking that the Fed is not being pushed toward a rate hike.”

The S&P 500 climbed 0.26 per cent to end the session at 7748.50 points. The benchmark is up about 13 per cent so far in 2026.

The Nasdaq gained 0.54 per cent to 26,588.49 points for the session while the Dow Jones Industrial Average declined 0.04 per cent to 53,770.27 points.

Eight of the 11 S&P 500 sector indexes rose, led by real estate, up 1.08 per cent, followed by a 1.06 per cent gain in information technology.

Read the full report ...

Stuck in a long mid-week lunch yesterday? We’ve got you covered.

Here’s everything you may have missed