Overnight Wall Street closed more than 5% down on growing fears that the spiralling credit crisis would drag the US economy into a recession. While the global financial crisis deepened, RBA cut the interest rate by a full percentage point, double the amount that had been expected.
JB Hi-Fi Limited
JB Hi-Fi Limited (ASX: JBH) today reported a record half year net profit of A$41.9 million (HY07 A$26.2 million) from A$989 million of sales (HY07 A$659 million) for half year ending 31 December 2007. The profit for the half year exceeded last year's full year profit of A$40.4 million.