Editors Picks: Slash and earn

Profit season is turning out to be about what to cut rather than to grow in a worrying sign for jobs. But we’re feeling generous so we’re making one of the KGB’s articles free to Ed’s Picks readers!

We’re halfway through profit season and for most of Australia’s top companies it’s been a pretty good result. But go through the numbers closely and it’s good news for yield investors but bad news for workers.

Most of the EBIT improvements came from cutting below the line rather than growing revenue. The big miners have been trimming fat at a rate of knots – they have to because they see a more uncertain future ahead.

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