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Rates Down Again, More To Come in 2009
DEC 3, 2008 08:53 - Article Views: 755
The Reserve Bank cut interest rates by 1% to 4.25%, thus undoing all the tightening of the past seven years and taking rates back to where they were in December 2001.
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Economy Weakens, Foreign Debt surges
DEC 3, 2008 08:52 - Article Views: 2,225
Figures released yesterday by the Australian Bureau of Statistics left growth estimates for the September quarter just as confused as they were before the release.
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BHP/Rio Slump Sharply on Worsening Global Outlook
DEC 3, 2008 08:50 - Article Views: 675
A savage sell off in BHP Billion and Rio Tinto shares here yesterday after global oil and copper prices fell after Monday's spate of gloomy economic news, and the admission that the US economy had been in recession for the past year.
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Metcash Does Well In Slump
DEC 3, 2008 08:49 - Article Views: 759
Metcash, the country's third force in supermarkets and the dominant independent group, is expecting no change in its outlook after lifting earnings and sales solidly in the tough first half of 2008-09.
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BA, Qantas Talking Merger
DEC 3, 2008 08:48 - Article Views: 420
Qantas shares will soar today after British Airways said overnight Tuesday it is "exploring a potential merger" with Australian rival Qantas Airways as part of a broad tie-up in the struggling aviation sector.
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Midday Market Roundup 02/12/08
DEC 2, 2008 11:20 - Article Views: 359
The market is down 125 points after heavy falls on Wall Street on the back of poor manufacturing data and official recognition of the recession. Resources copping it – down 6% after recent outperformance – BHP and RIO down 7% and 8% on the open. Oz Minerals has said it will remain in a trading halt for a month as it desperately negotiates the refinancing of $560m in debt. Fortescue Metals down 10.5% after yesterday's 21% rally. Property stocks down 4.1%. Financials down 3.2% following a 17% fall in US financials on miserable forecasts about massive reductions in the availability of credit card debt.
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The Slump Worsens As US Declared In Recession For A Year
DEC 2, 2008 08:37 - Article Views: 513
First Australia, then China's manufacturing sector had a horror October according to survey results released yesterday.
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Futuris' Revamp
DEC 2, 2008 08:35 - Article Views: 600
Agribusiness group Futuris is changing its name, revamping its business to generate more cash; but will incur more losses in doing so.
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Leighton's Dubai Shock
DEC 2, 2008 08:34 - Article Views: 768
Investors have Leighton Holdings a whack yesterday after it revealed that work on a $600 million-plus project in Dubai had stopped.
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