Wall Street’s biggest insider trading fiasco is growing, with another 14 arrested overnight in charges involving $US33 million in illegal profits. Will this be the scandal to define the noughties’ boom and bust?
Articles by Glenn Dyer 
RBA lifts growth forecasts as economy on the up and up
The Reserve Bank has lifted its growth forecasts for the Australian economy and made it clear that interest rates will rise as the economy resumes its expansion.
Rupert’s pay-up model for newspapers on the back-burner
Amid all the throwaway lines and bullish spin, Rupert Murdoch and his executives always bury some truths in their comments about quarterly profits. Yesterday’s quarterly profit announcement was no exception.
Murdoch and Ramsay join for MasterfuckingChef
Rupert Murdoch is getting into bed with Gordon Ramsay to make Masterchef for the American market. Will Ten swoop in to make sureit doesn’t fall in to the hands of Nine?
News Corp revenue slumps 4.1%
Rupert Murdoch loves to act positive, so his 2009/2010 first quarter profit report was upbeat, focusing on the 9% rise of the consolidated operating income. Except, it’s the cost reductions and cuts that you should pay attention to.
News International to drop freebies to airlines, hotels
In a move that strikes fear into the hearts of The Oz execs, News International in the UK, will stop distributing bulk copies of newspapers sold for a nominal amount to hotels and airlines, which give them to clients as complimentary offerings.
All-American hero Buffett has a $26.6b rails bet
Warren Buffett has revealed a deal that defines his optimism in America’s future, spending $26.6b to buy out America’s second biggest railroad.
Interest rate rise small change for mug punters
Yesterday’s interest rate rise was, in monetary terms, roughly what we spent yesterday per head losing on the Cup. And if we just offset the cost of all the hats and champagne with the lost working hours spent on office sweeps…
RBA lifts rates, declares GFC dead
The Reserve Bank has lifted interest rates by 25 basis points to 3.50%. Get set for a slew of increases as Glenn Stevens lets the good times roll.
An inconvenient truth sobers thinking on weak state of US banking
Markets are not known for their consistency. Last night, the US market went up 148 points very quickly, then slid back into the red, only to close up 76 points.
Fed’s Thursday statement the key to US concerns
Forrget China, South Korea, and even Japan: when it comes to confidence in the global financial system, the world remains firmly coupled to the US.
Your store? Myer lists, but can’t take a trick
Myer shares were listed under the issue price of $4.10, but opened today at $3.88 on the ASX — a reminder that timing is everything.
Shit hits the fan for Wall Street’s shadow bankers
America’s biggest insider case is starting to spread, snaring some of Wall Street’s bluest-of-blue-blood banks in its web. Explosive claims are emerging, including disclosures on the dodgy trading of the Galleon hedge fund.
US rebound overshadowed by Costco’s food stamps move
So the American recession is over: go tell it to the eight million or more people who have lost their jobs and remain unemployed, the tens of millions more working shorter hours for lower wages, or the 35 million or so on food aid.
Lending a cot case, or is it?
If you had to judge the health of the Australian economy by the amount of lending going on, you’d be entitled to call for an ambulance to revive a fading patient after looking at today’s report from the Reserve Bank on private credit for September.
Green shoots scepticism in the land of the greenback
Slowly some healthy scepticism about the strength of those worldwide green shoots is emerging in financial markets, but it’s nothing dramatic yet. The Aussie dollar fell slightly against the US dollar and Norway lifted interest rates.
ANZ out-gouges the NAB
Like the NAB, the ANZ has survived the financial crisis looking rudely health. Which is impressive, considering it suffered more damage from self-inflicted lending disasters than any of the Big Four.
American consumers give up, go home
The unhealthy position of the big market rally has been exposed for the high-wire act it is by a sharp fall in American consumer confidence, to 47.7 in October.
NAB continues its billion dollar profit gouge
With such a strong result under its belt, you would have thought the NAB might have had the grace to mention the help from the federal government and Reserve Bank.
Blame the states when RBA lifts rates
When the Reserve Bank lifts interest rates next Tuesday and again either in December or February, you can thank the lazy, fat, rapacious State Governments.
Nine tries to buy itself some balls
Nine is paying about $450,000 an episode to secure the rights to air Top Gear next year and hopefully score itself more male viewers. That’s a lot of money for a network that is $3.8 billion in debt.
