In 2007 the US housing sector and all the exotic securities than hang off dodgy valuations, falling prices and going broke homeowners smothered the US financial system and economy, producing the 2008 crash and crunch.In 2011 the US housing sector remains broken and is in danger of smothering, or at best severely retarding America's stuttering economic recovery.In its post meeting statement th...
A speech this week by a senior executive at the Reserve Bank should force all investors to reassess their holdings (if they have them) in Australian banksIn short, if you are looking for capital gains in the next three years from bank shares, which dominate the local market, then think again.And if you are income driven, the banks will find themselves under increasing pressure to drive earnings hi...
The early gloomsters are out and about proclaiming that Australia will suffer from any sell off of Japanese investments or from any slump in Japanese economic activity as a result of the quake, tsunami and nuclear crisis.Many of these 'experts' are the same who saw collapse and debt crisis in the GFC for Australia, and have yet to get around to correcting some of their more outrageous co...
Australian department Store Myer Holdings Ltd announced total sales for the 26 weeks to 29 January 2011 were $1.73 billion, down 3.5 percent compared to last year. On a like-for-like basis, excluding the impact of new stores, refurbishments and Myer Melbourne, sales were down 5.2 percent.
Pursuing a dangerous tact to quell a nuclear disaster, Japan has used helicopters to cool down the nuclear reactors at the Fukushima nuclear power facility.
An unsolicited offer has been made by Carlyle Securities L.P to purchase up to one million Contact Energy shares(NXE: CEN), Origin Energy (ASX: ORG) said today. Origin owns 51 per cent of Contact.
Macquarie Group has announced today that its chairman David Clarke has formally stepped down from his post to address some personal health issues.
The gains attained by the Australian dollar to reach parity along with the US dollar had been wiped away by the volatile pessimistic markets.
- Oil is China's biggest import- Oil price strength pushing inflation higher- Currency revaluation should followBy Greg PeelAs Libya descended into civil war and Saudis threatened a Day of Rage, the price of Brent crude reached a peak above US$116/bbl. The Saudi protest did not materialise and thus took some of the heat off the oil price, but it is the immediate reaction to the Japanese earthquake...
The AUD has gone into freefall this morning as fears grow over the ongoing nuclear crisis in Japan.
By Greg PeelThe Dow closed down 225 points or 2% while the S&P lost 2% to 1256 and the Nasdaq dropped 1.9%. The S&P is now one point down for 2011.I suggested yesterday that Prime Minister Kan appeared to be keeping the world up to date with developments – a far cry from the Chernobyl incident in Russia which saw the first alarm raised by Sweden. The Japanese are renowned for their calm in a...
News of another explosion at the Fukushima nuclear power station sent shockwaves through global markets.
The Australian share market closed in the black for the first time in the past six trading sessions, triggered by strong gains in Tokyo and buoyed by bargain hunting.
US producer prices rose by 1.6pct in February - marking the largest monthly increase in 18 months. In the 12 months to February producer prices were up 5.6pct. Energy price surged by 3.3pct in February.
Gina Rinehart, the daughter of mining magnate Lang Hancock, is now the richest Australian ever.
Global disasters will likely impact the Australian economy through the fourth quarter of 2011, with its expansion projected to be hampered by sluggish pace that experts said should commence by the second quarter of the year.
A rather bullish outlook from major miner Rio Tinto in its 2010 review released yesterday helped the shares rebound nearly 2% in yesterday's steadying market.The shares rose $1.53, or 1.98%, to $78.94 after being as high as $79.52 in the morning as investor sentiment about stocks, especially commodities and uranium miners (Rio has a mine or two in Australia and South Africa), recovered from T...
Western Australian owned international shipbuilding company Strategic Marine has been contracted to provide high-speed patrol vessels for the Australian Federal Police.
Australia-based uranium production company Paladin Energy Ltd (ASX: PDN) expressed its deepest condolences to the people of Japan following the tragic events of Friday 11 March 2011.
The massive earthquake and the tsunami it spawned in Japan pushed back the late March launch of iPad 2 in the country even as Apple struggle to meet the refurbished tablet’s online demand, admitting on Wednesday that global consumers will have to endure weeks of delay.
Murchison Metals Ltd (ASX: MMX) has formally executed its agreement with Resource Capital Fund V L.P. (RCF V) for the US$100 million Bridge Finance Facility that was announced to the ASX on 19 November 2010.
Telstra’s Yellow Pages publisher Sensis has followed the ways of other firms as it unveiled on Wednesday an iPad app that would allow the gadget’s Australian users to access directory database through the Apple bestselling product.
Giant internet firm Google continues its ongoing campaign of raising the quality of its services, snatching this week an Irish company that it deems would bring better technology in improving the video offerings of its subsidiary, YouTube.
National Australia Bank (ASX: NAB) today announced changes to the Group Executive Committee.
Telecom New Zealand (ASX: TEL; NZE TEL) has today announced it will credit all residential customers’ landline calls to Japan. This includes calls made from landline to landline and landline to Japanese mobile phones.
Patterson Cheney Pty Ltd, trading as Patterson Cheney Holden, has paid two infringement notices totaling $13,200 following an Australian Competition and Consumer Commission investigation into its promotional offer of a 'Free Extended Lifetime Mechanical Warranty'.
Music and record-producing companies will soon realize the untapped potential of digital music subscription that will also curb the availability of free music downloads online.
Web developers will get the most benefit with Microsoft's Internet Explorer 9 (IE9) launched early this week.
- The eurozone has surprised by suddenly announcing new agreements- The bail-out fund is now bigger and concessions have been made to Greece- It's an improvement, albeit still not enough to cover Italy- But it may yet prove a turning pointBy Greg PeelLast week the world was distracted by MENA uprisings, including planned Saudi protests and the ongoing civil war in Libya. But Europe was suddenly ba...
News of another explosion at the Fukushima nuclear power station sent shockwaves through global markets. With the Nikkei plunging more than -10%, the largest one day decline since 1987, risk liquidation accelerated weighing the Aussie down. Initial reactions saw the Australian Dollar slide to 0.9925 against the Greenback.
