Latest news with #KumarTanishk
Yahoo
2 days ago
- Business
- Yahoo
A second Australian IVF mix-up shakes clinic and industry
By Byron Kaye and Kumar Tanishk (Reuters) -One of Australia's top IVF providers mistakenly implanted a patient with her own embryo instead of her partner's in a second fertility clinic mix-up, heightening concerns about an industry that did not have much active government oversight until recently. Monash IVF said the error took place on June 5 at a clinic in Melbourne but did not provide further details such as how it learned of the bungle or what the couple planned to do next. The company said it was supporting the couple, who it did not identify. It said the patient's embryo was mistakenly implanted under a treatment plan which called for an embryo from the patient's partner to be transferred. The incident builds on a reputational maelstrom for Monash IVF which was already reeling from an April disclosure that an Australian woman had given birth to a stranger's baby after a fertility doctor accidentally implanted the wrong embryo to a patient in Brisbane in 2023. That mix-up sparked concerns about security protocols at IVF clinics and an industry which is only now in the process of being more regulated. Monash claimed the world's first IVF pregnancy five decades ago and is Australia's second-largest IVF provider, carrying out nearly a quarter of the country's 100,000 assisted reproductive cycles a year, according to industry data. "This mix-up, the second reported incident at Monash IVF, risks shaking confidence not just in one provider but across the entire fertility sector," Hilary Bowman-Smart, a researcher and bioethicist at the University of South Australia. Shares of Monash IVF were down 24% by midsession on Tuesday, against a rising broader market. The stock is just over half its value before the April announcement. "We had thought the Brisbane clinic embryo transfer error was an isolated incident," Craig Wong-Pan, an analyst at RBC Capital Markets, said in a client note. "We believe there is now risk of a greater impact of reputational damage and market share losses to MVF's operations." Monash IVF had already hired a lawyer to run an independent investigation after the Brisbane incident, and said on Tuesday it has extended the scope of that investigation. It added that it was installing interim extra verification safeguards to ensure patient confidence. "Whilst industry-leading electronic witness systems ... are being rolled out across Monash IVF, there remains instances and circumstances whereby manual witnessing is required," the company said. It said it had reported the Melbourne incident to state regulator the Victorian Department of Health and industry licencing body the Reproductive Technology Accreditation Committee (RTAC), part of industry group the Fertility Society of Australia. The health department and RTAC were not immediately available for comment. Reports of transferring a wrong embryo are rare, according to fertility experts, and Monash's Brisbane mix-up was widely reported as the first known case of its kind. ($1 = 1.5330 Australian dollars)
Yahoo
28-04-2025
- Business
- Yahoo
Court ruling favours Australia's Bega Cheese in dairy giant Fonterra's trademark dispute
(Reuters) - Australia's Bega Cheese said on Monday that the Supreme Court of New South Wales has dismissed a case filed by Fonterra over trademark licensing agreements and the New Zealand dairy firm's divestment plan. Last November, Fonterra's Australian units initiated proceedings against Bega Cheese, seeking a ruling that Fonterra's divestment proposal would not impact the existing trademark license agreements with the Australian cheese producer, with room for changing certain control clauses within them. Bega Cheese and Fonterra are linked through trademark license agreements, allowing Fonterra to use Bega's trademarks on specific dairy products like cheese and butter. In February, Fonterra said it will engage with potential buyers for its global consumer business and integrated businesses, which could include a sale and initial public offering. The ruling may potentially delay Fonterra's proposed divestiture, including the sale of its Oceania unit, as it could complicate the potential changes to the licence deal between the two firms."We hope to work constructively with Fonterra Group on the sale of its Oceania businesses of which Bega Group is a natural acquirer and remains very interested in," Barry Irvin, executive chairman of Bega Group, said. Shares of Bega Cheese gained as much as 1.9%, the highest in a month. (Reporting by Kumar Tanishk in Bengaluru; Editing by Sonia Cheema)
Yahoo
20-02-2025
- Business
- Yahoo
Guzman, Wesfarmers to deliver upbeat earnings for Australian discretionary retailers
By Rajasik Mukherjee and Kumar Tanishk (Reuters) - Australia's discretionary retailers are expected to report improved half-yearly earnings, investors said, as easing inflation and tax cuts encouraged weary consumers to start spending again. The Australian retail sub-index, which includes Kmart and Bunnings hardware chain owner Wesfarmers, electronics retailer Harvey Norman and Mexican fast food chain Guzman y Gomez, has gained 8.2% so far this year. "On balance the discretionary retailers will report well," said Luke Winchester, portfolio manager at Merewether Capital. "The 'cost of living crisis' has been well documented in Australia over the last couple of years, however the retailers have been resilient in the face of that." Australia's central bank delivered the country's first interest rate cut in more than four years on Tuesday but warned it was too early to declare victory over inflation and said it was cautious about further easing. Guzman y Gomez is the pick for this reporting season, analysts said, after its sizzling initial public offering debut last year. Ron Shamgar, head of Australian equities at TAMIM Asset Management, said he was optimistic about Guzman's results but noted potential risks to its share price. "There would be a significant amount of stock coming out of escrow post the results which could place some pressure on the share price in the short term," added Shamgar. Guzman is slated to release its half-year earnings on February 21. Perth-based conglomerate Wesfarmers, which in January announced it would wind down Catch, its loss-making online retailer, is expected to post a slight increase in half-year profit, LSEG data showed. The company will report its first-half performance on February 20. "Wesfarmers' share price has been surging over the past year," said Tim Waterer, chief market analyst with KMC Trade, adding that shareholders expect the company "will 'deliver the goods' on the earnings front." Grady Wulff, an analyst with Bell Direct, said investors might focus more than usual on companies' second-half prospects "to determine whether the headwinds of high cost of living pressures are hitting discretionary spend or not". With lower interest rates and tax savings, consumers might make more discretionary purchases, reversing the trend of frugality that has characterised the past two years when they put non-essential purchases on hold. "The retailers will be one of the sectors that benefits the most from easing interest rates. The tailwinds for our discretionary companies will be strong heading into the rate cut cycle," Wulff said. ---------------------------------------------------------------- Sign in to access your portfolio
Yahoo
30-01-2025
- Business
- Yahoo
Aussie discretionary retailers hit third straight record on rate cut hopes
By Rishav Chatterjee and Kumar Tanishk (Reuters) - Australian discretionary retailers hit a record for the third straight session on Thursday, after cooling inflation data raised hopes of an interest rate cut as early as next month, which could spur spending on non-essential items. The S&P ASX 200 Consumer Discretionary sub-index gained as much as 1.6% on Thursday. The sub-index also hit records on Tuesday and Wednesday. Analysts expect Australian discretionary retailers to benefit from interest rate cuts in 2025, giving shoppers more money to spend on items such as electronics and footwear. Data on Wednesday showed that consumer prices rose at the slowest pace in nearly four years in the last three months of 2024 while easing home prices helped cool core inflation, opening the door for the Reserve Bank of Australia to lower borrowing costs as soon as February. The country's four big banks, Commonwealth Bank of Australia, National Australia Bank, Westpac and ANZ, all expect interest rate cuts to begin next month. "Expectations of a February cut have boosted the local market, and in particular more rate-sensitive stocks across the tech and consumer discretionary sectors," said Stella Ong, market analyst at share trading platform Superhero. Lower rates and taxes are likely to give consumers more confidence to spend after they cut back on non-essential spending over the last two years amid a cost-of-living crisis. "The setup for the consumer in 2025 is more constructive, with tax and rate cuts expected to relieve some of the cumulative pressures that have weighed on household budgets, supportive of a return to normalised spending growth," equity analysts at Morgan Stanley said in a research note. The sub-index was lifted on Thursday by heavyweights including the country's top conglomerate Wesfarmers, whose businesses include retailers Target and Kmart, which added 1%. Gaming firm Aristocrat Leisure was up 3.5%. Morgan Stanley was positive on Kmart as well as Wesfarmers' hardware chain Bunnings. Electronics retailer Harvey Norman and quick-service restaurant chain Guzman y Gomez also advanced, gaining 1.5% each on Thursday. Sign in to access your portfolio
