Business
Moss's big escape
FORMER MacBank chief Allan Moss has largely escaped this week's meltdown in the group's shares, having sold the bulk of his holding.
Fear and loathing on the credit trail
DOWN, down, down it went and there seemed to be no end in sight before a dramatic injection of $US180 billion by the world's biggest central banks late last night.
Gold lures - equity dives
GOLD and oil prices soared yesterday as nervous investors fled to the safe havens to escape crumbling equity markets.
Telstra rings change
TELSTRA has formed a new business unit to focus on online and mobile content as it heads towards its vision of becoming a so-called "media-comms" company.
Credit card balances in check
AUSTRALIAN consumers may have entered a new era of fiscal conservatism as credit card debt levels grew at their slowest annual pace in 14 years, new data shows.
Smaller banks hit hard
THE smaller end of the Australian financial sector has been hit hard amid concerns Wall Street's credit crisis is spreading.
Seek expansion spreads to Brazil
JOBS website Seek has made its second investment in 48 hours, paying $US67.5 million ($A85.2 million) for a 30 per cent stake in two Brazilian employment sites.
OzMin to cut zinc output
OZ MINERALS will slash zinc production at its Golden Grove mine in WA, in another sign the much-vaunted Oxiana-Zinifex merger is not going as planned.
Business Breaking News
Image 1 of 4
Market meltdown: Worried traders gather on the floor of the New York Stock Exchange amid another night of carnage on Wall St. Picture: AP
Nightmare on Wall St
Current plans: General Motors has unveiled its Chevrolet Volt, a plug-in electric car that is the centrepiece of the company's effort to move away from petrol-guzzlers. Picture: Reuters
GM unveils electric car
Carbon tax effects: Hazelwood has ceased scheduled maintenance shutdowns as Victorian power stations come under increasing financial pressure.
Power stations on overload
Join the debate: Wall Street has lurched into sub-prime turmoil – and it's only going to get worse, says Barefoot Investor Scott Pape.
Barefoot Investor blog | Barefoot Investor columns
Market Data
Oil wells back in business
JUNIOR oil and gas producer Petsec Energy has returned some of its United States wells to production after Hurricane Ike last week, but others remain shut-in.
World central banks take action
THE Bank of England will conduct a dollar swap of $US40 billion ($49bn) with the US Federal Reserve as part of a central bank liquidity plan.
Our banks remain strong - Rudd
PM Kevin Rudd says Australia's financial institutions are still in a sound position, despite billions being wiped off stocks today.
Market tumbles amid global wipeout
THE Australian share market was hammered today amid losses on the financial sector over fears the crisis on Wall Street would continue.
Suncorp reconfirms earnings guidance
SUNCORP-Metway has reconfirmed its earnings guidance for this financial year, despite the challenges posed by volatile financial markets.
Lloyds TSB takes over HBOS
BRITISH bank Lloyds TSB has confirmed it will take over rival Halifax Bank of Scotland (HBOS).
Telstra to slash 800 jobs
TELSTRA has announced it will cut 800 jobs as part of "streamlining" measures, with unions predicting poorer service for customers.
BlueScope strikes deal with BHP
BLUESCOPE Steel has entered into a new 10-year contract to buy iron ore from mining giant BHP Billiton and its joint venture partners.
Macquarie slumps to five-year low
SHARES in Macquarie Group slumped to a five-year low today after ratings agency Standard & Poor's revised the outlook for Australia's biggest investment bank to negative from stable.
Morgan Stanley talking mergers
MORGAN Stanley, one of the last two independent US-based investment banks, is reportedly in talks to merge with Wachovia Corporation
Gold shines brightly amid turmoil
SHARES in Australia's largest gold miners rose today after the price of the precious metal recorded its biggest one-day gain in nine years.
Incitec Pivot enters new $1.68b loan
CHEMICALS maker Incitec Pivot has entered into a three-year syndicated bank facility of $1.68 billion.
Nightmare on Wall St as dollar dives
ANOTHER nightmare day on Wall St saw the Dow Jones close almost 450 points down, while the Australian dollar hit a 13-month low.
UK banks talk merger
THE transformation of international banking took another turn last night with embattled British banking group HBOS plc negotiating a merger.
Assets watch on AIG
INSURERS are eyeing the Australian and Asian assets of embattled US insurer American International Group ahead of a widely-anticipated asset sales program.
What next? Nerves rule market
THE US Federal Reserve's $US85 billion ($A107.2 billion) bail-out of insurance giant AIG threatens to be overshadowed by fresh concerns Morgan Stanley may be next.
Right courses but no solution
THE Fed delivered exactly the right combination with its 'Tuesday one-two'. But all it achieved was to avoid an immediate - unnatural - disaster named AIG.
Our stocks defy American lead
THE Australian share market closed lower yesterday despite a positive lead from American markets and the US central bank's rescue of global insurer AIG.
Macquarie plummets as rumours probed
MACQUARIE Group shares sank to a four-year low yesterday, with the corporate watchdog revealing it was investigating alleged false rumours about the bank.
Householders tightening up
RISING risk in the aftermath of the global credit crunch may force households to curb debt levels after years of spending, RBA governor Glenn Stevens said.
A lot of fuss about exposure
HUGE exposures, but really not much skin. What am I referring to? The really quite silly attempts to 'expose' individual exposures to collapsed companies. Make sense?
Hidden carbon cost
THE Federal Government's proposal to give free permits to polluting companies when emissions trading begins is unlikely to stop them from taking new investments offshore.
Agri stocks hold up
AGRIBUSINESS stocks are holding up well despite broad market volatility, says the Commonwealth Bank Agri Indicators Report for September.
The geeks inherit the earth
BILL Gates has overtaken Warren Buffett to regain the title of America's richest person - and Facebook founder Mark Zuckerberg debuts.
Red light on going green
PRIVATE companies are refusing to go green until they are forced to do so because they're not willing to pay the costs of environmentally-friendly initiatives.
Gas deal big win for BHP
BHP Billiton has completed a supply contract that will underpin the $500 million expansion of the Greater Angostura gas project off the Trinidad coast.
Iron ore tipped to rise
RIO Tinto and rival BHP Billiton - the world's second and third-largest iron ore producers - are in line for a seventh consecutive annual price rise for the bulk commodity.
Seek claims key Asian stake
JOBS website Seek has snapped up a minority stake in a Malaysian-listed employment site provider, sealing the first of two offshore opportunities in its sights.
Superannuation takes $100b hit
MORE than $100 billion has been wiped out of Aussie superannuation funds as the global financial meltdown worsens.
Catching an art shark
"This is Vic," drawled the voice down the phone from Hervey Bay in Queensland. "Vic Hislop, the shark hunter?" I asked. "That's me," he replied.
America's richest people
BILL Gates has overtaken Warren Buffett to regain the title of America's richest man.
Relics stage a second resurrection
BUSINESS Council of Australia president Greig Gailey yesterday paraded the peak body's climate change relics again, this time at the Sydney Institute.
Nuclear lobby can't see the light
IF ONLY Thomas Edison could hear some of the climate change furphies that have been doing the rounds this week, he would be rolling in his grave.
Business OwnerMore Business Owner
Franchising 'a safe haven'
BE it a pizza chain, a gardening service, an accounting group or a string of furniture shops, members of the franchising sector are in a favourable position to ride out tough economic conditions, according to chartered accountants PKF.
Terry McCrann's ColumnMore Column Articles
Trying to keep up with aged news
IS ANYONE awake down at The Age? Do they really want to 'tell' their readers they are being fed commentary on the rapidly changing global financial crisis, that was written some days ago?
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