WAN, Seven Shares Down
Shares in West Australian Newspapers slumped after the company’s earnings fell short of forecasts and it sounded a cautious tone about its outlook for advertising revenue.
Read MoreShares in West Australian Newspapers slumped after the company’s earnings fell short of forecasts and it sounded a cautious tone about its outlook for advertising revenue.
Read MoreSo will Kerry Stokes take a controlling 50%-plus stake in the Seven Network Ltd at a time when the company has lost millions on controversial stockmarket investments, and earnings are under increasing pressure from the slowing economy?
Read MoreYou sometimes can’t pick a troubled market.
Read MoreA tough day on the Australian stock market yesterday, which ended lower for a third day, as miners were sold off on falling commodity prices.
Read MoreThe Reserve Bank board meets today and is not expected to cut interest rates, despite claims by some commentators that the economy is approaching "stall speed" to quote a commentary yesterday by brokers Goldman Sachs JBWere.
Read MoreWhat’s worse: the state of the US banking industry, car industry or jobs market?
Read MoreThe credit crunch is a year old this week and with central banks in Australia, the US, UK and Europe meeting, there’s no sign of any relief on financial groups in those and other countries.
Read MoreThe Australian economy is in danger of slowing to the point where it drops into what’s called a growth recession, where a weak and sluggish domestic economy is only supported by the still strong export sector, thanks to rising prices for exports of iron ore, coking and thermal coal, oil and gas.
Read MoreThings have been pretty good for the Australian economy over the last 15 years.
Read MoreShares in The Warehouse, New Zealand’s biggest retailer, fell sharply yesterday after Woolworths and rival Foodstuffs were blocked by a court from launching separate bids for the company.
Read MoreThe iron ore, coal and steel booms are heading for the status of the last great boom/bubble as oil prices subside and other inflated investment areas (housing) bring economies around the world to their knees.
Read MoreThe contrast was telling: there was India’s central bank sending a strong signal that it will not tolerate high inflation by announcing a larger than expected increase in its key lending rate and threatening more measures to come.
Read MoreShares in retailer, Harvey Norman, eased, then firmed in a small range yesterday on confirmation that 2008 sales growth slowed, but didn’t tank as some in the market had feared earlier this month.
Read MoreThe record 2007-08 result and profit report from industrial products conglomerate, Alesco Corporation sums up the past year very well.
Read MoreFriday it was inflation hitting a high of 1.9%; last Wednesday it was June exports falling 1.7%, the first such decline for five years; yesterday it was news that Japan’s unemployment rate had hit a two year high.
Read MoreOne company with a very different tale to tell, even if it is still having troubling exporting its core commodity, is Coal and Allied, the partly-owned Rio Tinto subsidiary based in the NSW Hunter Valley.
Read MoreWall Street’s 2% rise on lower oil and the latest Merrill Lynch funding raising and write downs overnight will help our market stabilise today, with a 1% plus rise expected on the futures market.
Read MoreThere is a silver lining from the terrible conditions we seem to be seeing in the financial markets and in the economy: there’s a forecast the Reserve Bank will probably cut interest rates next year by more than we expect.
Read MoreThe ANZ bank this morning warned the market its looking at a 25% drop in earnings because of dodgy and bad loans.
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