The National Australia Bank has become the first Australian bank to raise new capital in the credit crunch, writes Glenn Dyer.
Business economy
US job numbers point to a long, painful recession
More than 3,800 US workers lost their jobs every days between 1 January and 31 October this year. Anyone who imagined the US slowdown wasn’t going to be painful needs to think again, says Glenn Dyer.
UK takes evasive action as IMF predicts a sluggish 2009
The Bank of england took unprecedented action overnight to rekindle economic activity, as the IMF revises down its 2009 growth predictions, reports Glenn Dyer.
Will James Packer’s bet on red pay off?
Gambling has taken a hit as the global economy slows, which is having an impact on James Packer’s gaming business, writes Glenn Dyer.
The Groves debacle takes ABC into Australian corporate history
ABC Learning’s failure may be remember as one of Australia’s most notorious corporate meltdowns, writes Adam Schwab.
Toyota’s profits stall as global car industry slows to a crawl
Although Toyota has withstood the worst of the financial crisis, profit growth has all but stalled, writes Glenn Dyer.
Former partner eyeing off a Fosters buyout
They might have been partners in the 1990s, but now Molson Coors Brewing is looking to gobble down Fosters, writes Glenn Dyer.
Labour force figures raise more questions than answers
The latest labour force numbers from the ABS again show some logical inconsistencies, writes Glenn Dyer.
ABS boosts spending on retail data, and not before time
Cuts the ABS budget haven’t been reversed, but the ABS is working to improve the quality of its output, reports Glenn Dyer.
News Limited share price dives on earnings downgrade
A surprise earnings downgrade in a teleconference with Rupert Murdoch this morning has sparked a News Limited share price dive, reports Glenn Dyer.
A year on, ASIC should look again at BHP-Rio deal
If the outlook for the world biggest steel companies is any giude, there are some big questions looming over the BHP-Rio deal. writes Glenn Dyer.
Westfield’s tough tactics being brought to bear on British retailers
Westfield has a reputation as a tough negotiator in Australia. It seems that the British are now getting a taste of it, writes Glenn Dyer.
Aussie dollar rebounding. Why the surprise?
The Aussie dollar is on the way back for the time being, much as it should be. So why all the breathless reporting? asks Glenn Dyer.
Banks dig in over RBA cut
The refusal of the banks to pass on the full cut is simple gouging, writes Bernard Keane.
Spending downturn hits BMW and the luxury car market
First it was GM, Ford and Chrysler. Now BMW and Daimler are struggling to sell cars to cash strapped Americans, writes Glenn Dyer.
Mirvac struggling to find funding, maintain earnings
Mirvac’s earnings for 2009 have taken another hit, writes Glenn Dyer.
Trade surplus up, but it won’t stop the RBA from cutting again
Although the trade surplus has shown another rise, the positive numbers won’t quell the RBA’s desire for cutting rates, writes Glenn Dyer.
Who’ll get to tackle the monster US budget deficit?
Whoever the new President of the United States is, they will have to deal with US budget deficit, writes Glenn Dyer.
GM suffers biggest slump since WW2
General Motors has just endured its worst month for sales since the end of the Second World War, writes Glenn Dyer.
Rate Cut Cup: Halfapercent tightens to firm odds-on
Halfapercent has tightened but Pointsevenfive, could be a late tip for the Rate Cut Cup at 2.30 pm this afternoon, writes Glenn Dyer.
ASIC takes a gander at CMC. That’s a comfort
It’s nice to see that the corporate watchpuppies from ASIC are taking time to discover more about the obscure areas of the Australian stockmarket.
Morrie Newman’s letter to the editor
Maurice Newman’s letter this week to The Economist magazine seeks to excuse the banking and finance classes from any responsibility for the subprime disaster and credit crunch, writes Glenn Dyer.
A gloomy snapshot ahead of RBA announcement
A very mixed picture for the economy this morning, 24 hours away from a rate cut from the Reserve Bank, writes Glenn Dyer.
Americans’ wallets glued shut
Ordinary Americans stopped spending in the September quarter, dragging the US economy to the brink of recession as growth contracted by 0.3, writes Glenn Dyer.
The good oil on the yo-yoing price of crude
The current volatility of oil prices has something quite serious to teach us about the credit crisis and our future, writes Adam Grubb, founder of EnergyBulletin.net.
