While the Australian made some gains this morning, Europe and America weer finalising the details of their rescue packages for stricken banks, writes Glenn Dyer.
Economy
Aussie Banks are crying poor but spending big
In a time of severe economic turmoil, when banks can’t afford to pass on in-full a rate cut, they shouldn’t be allowed to buy up their competitors, argues Glenn Dyer.
Briefly Business: Pascoe, Foreclosure Alley, Iceland
Michael Pascoe previews the week ahead … What happens to the homes people walk away from … Iceland just the latest nation to joing the financial meltdown … Eurozone struggles for unified response.
Questioning Buffett’s “show of faith” in Goldman Sachs
On the surface of things, Warren Buffett’s buy into Goldman Sachs seemed canny. But might it come to be a burden? Adam Schwab investigates.
Eslake: Why Australian Banks are standing strong
Crikey asked Saul Eslake, Chief Economist with the ANZ Bank, to detail why Australia’s financial giants are in a more comfortable position than their international counterparts.
Global markets wrap: When a crunch becomes a freeze
The credit crisis is affecting markets the world over. Here, Glenn Dyer looks at how global markets are reacting.
NAB bullish on 0.5% rate cut
With the RBA set to decide on a rate cut next Tuesday, the NAB is confident they will cut by .5%. Glenn Dyer reports.
Kohler: What is a depression, and are we headed into one?
Recession, depression. Two words being used to describe where the global economy is or where it is headed. But what do they mean? By Business Spectator’s Alan Kohler.
Bailout. It’s Allliiive…
The tortured success of the bailout bill marks a moment in US in political and economic life. But now the hard work really starts. By Glenn Dyer.
EU shows what it means to be a competition watchdog
The European Union issued a massive fine overnight against nine companies for cartel-behaviour. Could be something in it for Australia’s competition watchdog. By Glenn Dyer.
The credit crisis is killing the US car industry
As far as the flow on effects from the credit crisis go, US carmakers and retailers are suffering almost as badly as the banks. By Glenn Dyer.
Global recession looms as leading economies continue to cool
The US economy is in recession, and now, worryingly, other major economies are also slowing. Is the world about to tip into recession? Glenn Dyer reports.
The BHP-RIO deal is dying. Time for some transparency
With the credit crisis making debt funded takeovers more and more difficult, it’s time BHP was more open with the market about its bid for RIO, writes Glenn Dyer.
Steve Keen: Hank Paulson the evil scientist, not the hero
Henry Paulson is far from the hero in the story of the Wall Street meltdown. Associate Professor Steve Keen argues he is in fact the villain, and may be heading for an ignominious end.
The credit crisis now has its tentacles firmly around Europe
Iceland, Ireland, England, Belgium, Germany, France: you can add them to the list of nations scrambling to save key financial institutions, writes Glenn Dyer.
Mayne: America needs a new CEO and finance director
The financial problems in the US might be solved in a big hurry by a new President, but putting someone else in charge won’t hurt either, writes Stephen Mayne.
Even if the bailout got through, $700bn is not enough. Here’s why
$700bn sounds like a,ot of money, and it is. But it’s trying to bail more than 10 times that much. Adam Carr, senior economist at ICAP Australia, explains why it won’t be enough to forestall a recession.
Media wrap: Will the bailout work?
With tentative agreement reached between Democrats and Republicans on the details of the bailout, now US lawmakers are waiting, fingers crossed. Compiled by Thomas Hunter.
Europe jittery as credit crisis spreads to UK, Belgium, Germany
The US might have reched agreement on a bailout package, but the problems are only just starting for Europe, writes Glenn Dyer.
RBA keeping close tabs on bailout progress
The Reserve Bank significantly boosted the amount of cash in money markets over the weekend, reports Glenn Dyer.
All news is bad news for US jobseekers
Job numbers due out this week are expected to show a significant rise in job losses. And some of them might be from non-finance based companies caught short in lending arrangements, writes Glenn Dyer.
Forget Wall Street, this is the real bailout plan
Buried by the flood of bad financial news and the wobbly fate of the $US700 billion bailout, US politicians are are close to pulling off a swifty of epic proportions, writes Glenn Dyer.
NZ, Ireland now in recession. Who’s next?
Regardless of the bailout plan’s fate, economies continue to slow sharply, with Ireland and New Zealand both sliding into full blown recessions within 24 hours of each other. By Glenn Dyer.
ASX AGM descends into farce
A riproaring criticism of the press was only one of the highlights of yesterday’s ASX AGM, writes Stephen Mayne.
RBA review treads lightly during financial crisis
In its bi-annual economic review, the RBA says it is concerned about the impact of global financial problems on the local economy. By Glenn Dyer.
