RBNZ Steps Up To Provide More Liquidity To Companies
The Reserve Bank of New Zealand announced on Monday that it was planning to start buying corporate bonds from banks this week to keep business well supplied with liquidity
Read MoreThe Reserve Bank of New Zealand announced on Monday that it was planning to start buying corporate bonds from banks this week to keep business well supplied with liquidity
Read MoreThe Morrison government has ended all exemptions for foreign asset purchases which means everyone, no matter the size, must go to the Foreign investment review board for clearance.
Read MoreDespite Friday’s fall US shares rose 10.3% for the week – which was their strongest week since March 2009, Eurozone shares were up 6.5%, Japanese shares jumped 17.1%, Chinese shares edged up 1.6% and Australian shares gained 0.5%.
Read MoreIt will be impossible to find any good news on business and economics this week in the face of unremitting gloom about the impact of COVID-19 which is rolling across economics large and small, smothering activity, jobs, and the future outlook.
Read MoreGold futures settled with a loss on Friday but still saw the biggest weekly rise in more than 11 years in a rebound fuelled in part by a weaker US dollar and concerns about disruptions in the physical market for the precious metal.
Read MoreThe oil price war and impact of COVID-19 has hit the US fracking sector like a sledgehammer last week as the number of active oil rigs slumped by 40 or 8% in a week.
Read MoreMore retailers have closed their doors to limit the impact of the COVID-19 virus. Myer is standing down 10,000 staff straight away, Kathmandu is closing 170 outlets while South African controlled – David Jones is shutting 280 of its fashion brand stores including Country Road, Witchery, Mimco, and Politix.
Read MoreWoodside Petroleum is bracing for “unprecedented circumstances”, global testing giant ALS is marshaling its financial forces to survive the impact of COVID-19 while South32 plans slash capital expenditure and has suspended its on-market buyback.
Read MoreSingapore Inc has come to the party and bailed out the nation state’s global flag carrier, Singapore Airlines in a $S19 billion refinancing that will stop the crippled airline from imploding.
Read MoreThe ASX is heading for a big weekly gain if the overnight trading on the futures platform is any guide – it was up more than 150 points or more than 3% which could if it sticks in today’s session, see a gain of around 10% for the week.
Read MoreSingapore Airlines is tapping existing investors for up to $S15 billion ($US10.48 billion) through the sale of shares and convertible bonds to offset the shock to its business from the coronavirus outbreak.
Read MoreThe gloom around oil returned on Thursday with more pessimism about future demand, pushing prices close to the $US20 a barrel level.
Read MoreMore than 3 million people filed a claim for unemployment benefits last week in the US as the COVID-19 pandemic closed businesses, cities and entire American states.
Read MoreoOh! Media (OML) is tapping shareholders with a deeply discounted placement to raise $167 million that will dilute existing holders stakes in the troubled outdoor media group.
Read MoreAMP shares bounced and those of gold miner, North Star resources slid yesterday after both withdrew their 2020 guidance.
Read MoreWhile coronavirus uncertainty has seen Brickworks join the long list of companies dropping guidance, the interim payout was boosted. Parent Soul Patts has also lifted its interim dividend by a cent to 25 cents a share, despite a 33% fall in NPAT.
Read MoreTens of thousands of jobs across the economy continue to be lost as the Australian Bureau of Statistics said yesterday that one survey had found that half of Australian businesses have reported an adverse impact because of the coronavirus pandemic with 86% expecting to be hit in coming months.
Read MoreNZ-based Fletcher Building has cancelled its dividend, suspended its buyback and withdrawn its 2019-20 earnings guidance.
Read MoreA last minute tumble took the edge off another big rebound on Wall Street ahead of a vote later today in the US Senate on the $US2 trillion stimulus/support package.
Read MoreOil futures reversed earlier losses to end Wednesday with a small gain, joining silver, copper and iron ore in the green, while gold fell.
Read MoreThree results including two from yesterday – from Nufarm and Sigma Healthcare – confirm that the figures are historical and useless for assessing the company’s outlook for the rest of the year and into 2021 in the wake of the impact of COVID-19.
Read MoreMajor women’s fashionwear retailer Mosaic Brands has become the latest chain operator to shut stores and stand down staff indefinitely. Casino operator, Star Group has also stood down around 90% of its staff of 9,000 while Wesfarmers has shut its Kmart stores in New Zealand as the coronavirus outbreak continues to escalate.
Read MoreIn stark contrast to Cochlear’s fund raising, Qantas said on Wednesday that it had borrowed $1.05 billion in new debt to help see it through the coronavirus crisis.
Read MoreHearing implant maker Cochlear has become the first major company to ask shareholders for more cash to bulk up its balance sheet against the expected ravages of the COVID-19 virus.
Read MoreOil, gold, silver, copper and iron ore all caught the latest wave of ‘optimism’ to some degree and closed higher on Tuesday.
Read MoreContinuing talk that the US Congress was moving to a deal on a massive bailout/support package saw markets storm higher on Tuesday with the Dow up more than 2,100 points, or over 11% at the close.
Read MoreSeven West Media joined the growing list of casualties on Tuesday morning, withdrawing its 2019-20 earnings guidance. The withdrawal came a day after the shares closed at an all-time low of just 6.6%, much of that fall due to the company’s high debt and worsening trading over the last two years.
Read MoreA rare bit of good news for investors about one stock at least – The Perth based shipbuilder and defence contractor, Austal says it has been told by the US Navy it is performing “mission essential functions” and been urged to keep making ships.
Read MoreJewelry chain, Michael Hill has become the first major Australian retailer to close its doors in light of the coronavirus pandemic, meaning the jobs of thousands of workers are at risk. Meanwhile, Woolworths has postponed its drinks demerger, Retail Food Group has dropped its guidance as has Shaver Shop.
Read MoreAt 3.30 am Sydney time on this Friday, we will get confirmation that the world’s biggest economy had been brought to a dramatic and brutal halt by the coronavirus pandemic. That’s when the initial jobless claims for last week will be reported by the US Labor Department.
Read MoreIn a televised address Boris Johnson announced the closure of all “non-essential shops” and told people to stay at home for the next 3 weeks. In the US Wall Street fell again despite the Fed saying it would vastly expand its efforts to shore up businesses and keep markets functioning.
Read MoreGold futures soared on Monday, jumping more than $US80 an ounce. That’s a jump of 5.6% and was the biggest daily dollar climb for the most-active contact, based on records dating back to 1984, and the largest one-day percentage rise since March 2009, according to Marketwtach.com.
Read MoreThe travel sector is now a wasteland as the COVID-19 virus continues to wreak havoc across here and across the globe. Helloworld will make 275 staff redundant and temporarily stand down 1300 more workers while Flight Centre has cancelled $40.1 million worth of interim dividend payments.
Read MoreA fool’s paradise? More reports of strong sales growth from major retailers and yet investors ignored that and sold off shares yesterday’s big slump.
Read MoreRegional Express (Rex) says it will shut down its Regular Public Transport (RPT) air services in all States, except in Queensland from April 6 unless state and federal governments come to the party and underwrite the losses on these services.
Read MoreStand by for a bailout of the Australian media sector. A decision on whether a recapitalisation will happen at oOh!media is due to be known today while shares of national radio and regional TV group, Southern Cross Media have collapsed.
Read MoreMore and more companies are battening down the hatches as the coronavirus banks and crackdowns escalate. Property developer Stockland, gambling and gaming giant Tabcorp, and health insurance firm NIB are among the latest to mothball earnings guidance while Ardent Leisure and Village Roadshow have shut their Gold Coast theme parks.
Read MoreNew Zealand’s Reserve Bank is starting its version of quantitative easing to buy up to $NZ30 billion of Government bonds and try and inject more cash into the banks and the economy generally.
Read MoreA second round of stimulus, aid spending, business loan guarantees and relaxed rules on superannuation are among the new measures from the Morrison government to shield millions of workers from the approaching economic slump.
Read MoreThe Federal Government’s latest aid and stimulus package of $66 billion includes a big superannuation component worth a couple of billion of dollars and more.
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