OZ Minerals have been granted another debt extension by their bankers this morning after China’s Minmetals re-jigged their US$2.6bn bid for the zinc-copper miner.
Markets
Morning Market Report: OZ Minerals gets another chance
Dyer’s Real Economy wrap: Grim news for German growth, Cruise industry sinking
What’s the German word for spin? … German growth looking grim … More deals for air travellers? … Cruise lines are sinking … Read the fine print on housing news … How do you solve a problem like Japan? … Chock biscuits sales fall, Big pizzas up … Oroton shows them how it’s done … CK suffers.
Geithner: saving banks and bankers from themselves
For the new plan to work, the Obama Administration has to work with many of the people blamed for some of the excesses of the credit bubble, and use some of their techniques, until values settle down, writes Glenn Dyer.
The risky business of private equity floats
The majority of private equity floats of recent years have been disastrous for shareholders, writes Adam Schwab.
Syndicated lending gap estimated at $35bn
Is there less foreign bank capital available to sustain recent levels of lending to Australian business? Ian Rogers writes.
Why the Chinalco deal is a disaster for Rio
The Chinalco deal appears to be a disaster for Rio Tinto shareholders and a boon for China, writes Adam Schwab.
Babcock knocking on heaven’s door
Babcock and Brown — once a strapping, cocksure investment bank — has been reduced to a withered wreck, writes Adam Schwab.
Deacons wrong on performance rights
According to a study by mid-tier law firm Deacons, almost three-quarters of employee share options plans issued since 2003 are worthless, writes Adam Schwab.
ASIC prosecutes small fish; bigger fish swim free
ASIC yesterday announced that it is seeking civil claims against little-known biotech executive Dr Martin Soust, writes Adam Schwab.
Morning Market Report
Marcus Padley reports on the highs and lows of today’s markets.
Morning Market Report
Marcus Padley reports on the highs and lows of today’s markets.
Crikey Clarifier: The Aussie dollar
Arlene wants to know — if the Oz economy is so much better than the USA one, why has our dollar dropped so much recently against the greenback? Crikey has the answers.
Morning Market Report
Marcus Padley reports on the highs and lows of today’s markets.
Morning Market Report
The highs and lows of the sharemarket.
Best time to sell? When China starts buying
While the Chinese certainly aren’t alone in losing money of late, they’re certainly excelling at it, writes Adam Schwab.
Real economy: No chunky soup for you, beans up, minivans down
The best way to get a sense of how far we’ve gone down the gurglar is to study the nation’s shopping lists, writes Glenn Dyer.
Bank Deathwatch: US, Dubai, Germany, Ireland — no one’s safe
Just another three days of activity in the tottering global banking system, reports Glenn Dyer.
Business briefs: Retail figures to paint a grim picture… Waiting for Black Friday
Retail figures to paint a grim picture … The Reserve Bank’s credit figures … Waiting for Black Friday … Wesfarmers defends Coles purchase … The rise and fall of Jeremy Reid … Rubin under the microscope
Citigroup proof that shorting is destructive
If Citigroup is worth nothing, then we are all stuffed. So much for the claim that the stockmarket is “efficient”. It’s no more efficient at the moment than the NSW Government is in running a train, writes Glenn Dyer.
Hard to beat automakers for greed and incompetence
Just when you thought that the automakers deserved one last chance — what do the CEOs do? They fly down from Detroit to Washington in private jets, writes Adam Schwab.
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.
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.
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 reckless stimulus package we didn’t need
What on earth is the Rudd Government doing blowing $10 billion in largely unproductive welfare payments? asks Stephen Mayne.
Richard Farmer’s bite sized meaty chunks
In the hands of the communist capitalists … Praised be the bureaucrats … Australian banks not alone.
