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Friday, 21 November 2008

World stocks dive as recession fears soar  

Brokers | Getty

11 hours 55 minutes ago. Global stock markets have plunged as a jump in US jobless figures and fresh rounds of job cuts worldwide deepened fears of recession and sent investors fleeing for cover.

Any remaining confidence in global markets has been well and truly trampled on today as investors throw in the towel... Analyst David Evans

 

Business Headlines

Minister slams excessive executive pay packets  Comments

Sol Trujillo | ABC

22 minutes ago. Telstra boss Sol Trujillo's $13.4 million pay packet has come under scrutiny from Federal Communications Minister Stephen Conroy, who has slammed today's excessive salaries for executives.

I think the Telstra board should have a good hard look at themselves and start responding. Federal Communications Minister Stephen Conroy

Comments12 Comments

 

Surprise rally for weary Australian stocks  

Stock brokers | Getty

2 hours 25 minutes ago. The Australian share market performed a surprise turnaround in the last hour of trade to finish in positive territory after four consecutive trading days of losses.

The market can do funny things though, and when it finally does turn around it is probably going to rally hard. CMC Markets head of trading James Foulsham

 

Gunns opts out of sovereign risk agreement  

Gunns Ltd

5 hours 44 minutes ago. Gunns has advised the Tasmanian govt that it won't renew the sovereign risk agreement for wood supply to the Bell Bay Pulp Mill.

 

ANZ drops fixed loan rates by up to 1%  

6 hours 31 minutes ago. ANZ Banking Group has matched National Australia Bank's (NAB) cut to interest rates on fixed home loans, lowering the rates by up to 100 basis points.

 

Macmahon hooks $236m rail deal  

7 hours 20 minutes ago. Macmahon Holdings has signed an agreement with the NSW govt to build the $236m Quakers Hill rail duplication line. The project replaces the recently abandoned $12bn North West Metro line.

 

Oil prices slump under $US50 a barrel  Comments

Oil pump | Getty

11 hours 58 minutes ago. Oil prices have tumbled below $US50, as plunging equities and weak US data sparked fresh concern that a worldwide recession could ravage energy demand, traders said.

With stock markets continuing to fall around the world, and particularly in Asia, there is just no positive news out there which could help restore confidence in oil markets. IHS Global Insight oil analyst Simon Wardell

Comments1 Comments

 

Analysis

October a tough month for Japan  

Japan economy | Getty

15 hours 10 minutes ago. The month of October continues to shatter economies around the world, or rather the events of September and the 15 months leading up to it, continue to do so.

 

Deflation fears hitting US market  Comments

Wall Street | Getty

15 hours 15 minutes ago. Fears of deflation are starting to stalk financial markets, especially in the US, as investor confidence here and abroad has suddenly become very delicate.

Comments1 Comments

 

Goodman Fielder/SP AusNet  

Goodman Fielder

15 hours 23 minutes ago. Australia's largest locally-owned food company, Goodman Fielder, is looking at a 15% drop in first half 2009 earnings, and probably a similar level for the full June 30 year.

We anticipate that our first half profit results will be around 15 per cent lower than the prior corresponding period... Goodman Fielder chairman Max Ould

 

Gunns says Tassie pulp mill on track  

Pulp mill protesters last year | AAP

19/11/2008 8:00:00 PM. Gunns said its proposed Bell Bay Pulp mill remained on track to begin construction once financing was secure. Despite the news Gunns shares were down more than 10%.

 

Get ready for recession Australia: report  Comments

Recession | Getty

19/11/2008 5:53:00 PM. Australia risks sinking into recession early next year after a "very disturbing" slide in expectation for economic growth, a report shows.

This is a very disturbing fall in the growth rate of the leading index... Westpac chief economist Bill Evans

Comments15 Comments

 

Macquarie 1H profit falls 43%, shares rally  

18/11/2008 6:29:00 AM. Macquarie said NPAT in the first half of fiscal 2009 fell 43% from a year ago to $604 million. Shares of the company rallied more than 15% after the MCQ said it expected a similar profit result in 2H.

 

Lion into Coca Cola doesn't go, yet  Comments

Coca-Cola Amatil has rejected a merger proposal from Lion Nathan

18/11/2008 5:05:00 AM. Coca Cola Amatil has rejected an approach from beer group, Lion Nathan, describing it as "incomplete and non-binding''.

Comments1 Comments

 

Hardie drops dividend  

James Hardie

18/11/2008 5:04:00 AM. Building materials group James Hardie has dropped its interim dividend as returns from the slumping US housing sector continues to depress earnings.

 
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YOUR SAY

Desmond Harris-Do you really think one man is responsible for making Telstra profitable? For regional Australia , since the inception of the RIDICULOUS NextG there... Karen Days, St.George on Minister slams excessive executive pay packets

Jesse Perez , Ithink you were a little cruel to the contestants but extremely factual towards the whole Idol machine . These kids are having... slick 6, WA on The 'Australian Idol' journey: a guaranteed road to ruin

The only way it seems to protect the whales is to vote green. Both Kevin Rudd, Peter Garrett and green peace are soft on whaling. Looks like... moose Price, Melbourne on 'Mission successful': Australia won't monitor Japanese whaling

I guess that poeple should then consider membership of any organisation which they would be ashamed of their membership being publicised. Kant enunciated that you... darren carrow, brisbane on We're not racists, Australian fascists say

Perhaps the Sheiks can give some clues as to how to get NSW out of receivership...nothing seems to be stopping the flourishing infrastructure in Dubai... Fair Dinkum ,, , on Kylie headlines $35m Dubai hotel party

 
 

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