Administrators Move In To Pilot Collapsed Virgin Australia
Virgin Australia finally collapsed into administration yesterday after tottering on the edge for weeks. It is the biggest business casualty so far of the pandemic
Read MoreVirgin Australia finally collapsed into administration yesterday after tottering on the edge for weeks. It is the biggest business casualty so far of the pandemic
Read MoreRestaurant Brands has warned investors of a “significant decline”, online retailer Kogan has reported a huge jump in sales, Premier Investments yesterday confirmed that it has delayed re-opening some of its Australian chains while Nearmap has confirmed full-year guidance and reckons it is largely unaffected by the COVID-19 lockdown.
Read MoreIgnore what was a solid third-quarter production update from BHP and instead look at the warning issued by the company’s CEO about future demand from major customer economies.
Read MoreGlobal iron ore prices firmed on Monday after the giant Brazilian miner, Vale, slashed its 2020 guidance for iron ore fines and pellets.
Read MoreIn contrast to oil’s chaos, we saw what was a ‘normal’ day for Comex commodities – gold and silver rose, copper dipped without too much fuss.
Read MoreSo what happens today and tonight with trading in US West Texas Intermediate (WTI) crude oil after the May contract crashed into negative territory for the first time in history on Monday?
Read MoreThe National Australia Bank has joined Westpac in announcing some balance sheet and earnings tidying up ahead of the release of their interim reports in a couple of week’s time.
Read MoreAnother one bites the dust – no it’s not a Queen revival but news that the long-running takeover attack from a Canadian firm Alimentation Couche Tard (ACD) for Caltex has gone south, a victim of COVID-19.
Read MoreAs was widely expected by analysts, Financial services company Perpetual saw a sharp slump in the amount of funds it had under management in the March quarter.
Read MoreSydney Airport is borrowing $850 million and dropping interim dividend to help it survive the COVID-19 pandemic as its traffic collapses.
Read MoreMajor retail supplier, Metcash has had a good crisis – the surge in consumer panic buying pushed up sales in its key grocery supply business with the IGA chain of supermarkets (but not as much of a boost for its liquor and hardware divisions).
Read MoreAs expected China cut its key loan prime rates (LPR) on Monday but that that still leaves the rates the highest among major economies.
Read MoreGold ended with a loss on Friday and ended down around 3% for the week. Silver also fell and while Brent crude rose and US oil futures were mixed, iron ore and copper all rose on the day.
Read MoreA wobbly start to ASX trading today after a late slip on the overnight futures market saw the gain cut from around 50 points to just 1 point at the close.
Read MoreThe flow of March quarter earnings reports ramps up this week highlighted by results from Netflix and a handful of major airlines which will show the extremes of the impact of the pandemic on American business.
Read MoreIron ore prices edged higher last week thanks to a near 1% rise on Friday despite news of the record fall in Chinese economic growth in the March quarter.
Read MoreAn almighty collapse in US oil production is coming – it could continue to trickle out, as it has been doing in the past three weeks, or it will arrive quickly in a couple of weeks in May with a rush of cuts from companies large and small.
Read MoreAgain there’s only one issue for global markets and government this week and that’s the COVID-19 pandemic and whether the rays of light seen in parts of the US, Italy, Spain, the UK, and Australia are becoming any brighter.
Read MoreThe coronavirus pandemic has brought China’s extraordinary run of economic growth to an end — a stark reminder of the enormous task ahead for world leaders trying to restart the global economy.
Read MoreRio Tinto’s iron ore exports rose 5% in the March quarter compared to the same time last year.
Read MoreFizzy soda drinks giant Coca-Cola Amatil has revealed planned savings and investment spending cuts totalling just on a quarter of a billion dollars for the rest of 2020.
Read MoreWoodside is looking at a massive fall in first-half revenue and earnings in the wake of the still-evolving oil price crash.
Read MoreIn its third trading update so far this year, Michael Hill Jewellers has provided an early idea of the damage the coronavirus is having on Australian retailing in 2020, telling investors its comparable sales for the third quarter dropped by a massive 10.4%.
Read MoreThe local market will start Friday’s session weak and looking for local leads after Wall Street finished with small gains after another 5.5 million Americans filed their first-time job claims, taking the number filed in the past month to 22 million.
Read MoreGold, oil copper, and iron ore all fell on Thursday as the US dollar rose off the back of more bad news on the American economy.
Read MoreBendigo Bank has joined the Bank of Queensland in withdrawing its financial outlook for the six months to June 30 due to the “uncertainty” created by the coronavirus pandemic. Meanwhile, Macquarie analysts are the latest to go all gloomy about bank dividend levels and capital.
Read MoreVirgin Australia has stepped up its money finding efforts, asking for trading in its shares to be suspended as it works on a restructuring plan and awaits any news from Canberra about a $1.4 billion bailout package from the Federal Government.
Read MoreThe March jobless data has provided us with a first, very small glimpse of the impact on the Australian economy from the COVID-19 pandemic.
Read MoreGold futures ended at their lowest in a week on Wednesday, ending a solid rise before and after Easter that had driven prices to a more than seven-year high on Tuesday.
Read MoreWall Street fell on Wednesday as dismal economic and first-quarter earnings reports added to renewed concerns over the extent of damage from the coronavirus outbreak.
Read MoreThere’s more evidence that the latest OPEC/Russia oil output agreement won’t see any significant change in prices for quite a while with the International Energy Agency (IEA) warning that 2020 will be “worst year in the history of global oil markets” and see an unprecedented collapse in demand and run-up in surplus crude.
Read MoreThe People’s Bank of China (PBOC) said it was lowering the one-year medium-term lending facility (MLF) loans to financial institutions to 2.95%, the lowest since the liquidity tool was introduced in September 2014, down 20 basis points from 3.15% previously.
Read MoreOZ Minerals says it has so far avoided the impact of the COVID-19 pandemic but has loaded up its liquidity. Meanwhile, BHP and its partners have revealed that their huge Antamina copper-zinc mine in the Peruvian Andes has been temporarily closed.
Read MoreIluka Resources is another company battening down the hatches by withdrawing its 2020 guidance and suspending plans to de-merge its lucrative iron ore royalty business.
Read MoreOn the face of it, China’s March import performance (down by just 0.9% from a year ago) would be enough to pose the question, COVID-19, what disruption? But that’s to come in future months on the export side when the country’s exporters look for orders from the major economies of the west and find there are very few.
Read MoreOil prices fell on Tuesday as the market’s focus returned to weak demand as traders lost what little enthusiasm they had for the production cut deal from OPEC and Russia and endorsed by President Donald Trump.
Read MoreGold futures rose for a fourth straight session on Tuesday but then dipped in after-hours trading. Weakness in the US dollar provided a lift to gold, even as the sharemarket rose on hopes of an early re-opening of the economy.
Read MoreSharemarkets continue to ignore the continuing downside risks from the COVID-19 epidemic and measures governments have enacted to slow and control the rate of infection and deaths.
Read MoreEven before the financial impact from the COVID-19 pandemic is felt, Westpac has warned the market that it will take a $1.43 billion hit to its first-half profits thanks to higher provisions for the money laundering compliance scandal and customer refunds.
Read MoreWhile not as dramatic as the falls in January and February, March saw China’s imports and exports once again drop, as the coronavirus pandemic continued to wreak havoc inside the country and on its major customers offshore
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