Iron Ore Slowdown Tempers Trade Surplus
Australia recorded another big trade surplus in September – not as large as August’s record, but big enough according to figures released by the Australian Bureau of Statistics (ABS) on Thursday.
Read MoreAustralia recorded another big trade surplus in September – not as large as August’s record, but big enough according to figures released by the Australian Bureau of Statistics (ABS) on Thursday.
Read MoreAustralian car sales continued to fall in September for the 18th month in a row. Figures from the Federal Chamber of Automotive Industries (FCAI) on Thursday showed total sales for September dropped 6.9% to 88,181 vehicles from a year earlier.
Read MoreIt’s only been two days of the month and quarter so far but stock markets have wiped out their small gains for the three months to September and are now eating away at the big rises in June and the first half of the year as recession fears in the US mount.
Read MoreSeven West Media’s new CEO, James Warburton has stepped up his axing of staff and programs with the Sunday Night pubic affairs program cut yesterday, as well as the company’s corporate affairs head and publicity people in Melbourne, Brisbane, Perth, and Adelaide.
Read MoreNational Australia Bank shares lost 2.3% yesterday after the bank revealed another massive provision to cover the cost of remediating customer complaints.
Read MoreMayne Pharma shares jumped nearly 19% yesterday a near five-month high after the company revealed an exclusive long-term deal to sell a new contraceptive drug in the USA.
Read MoreReserve Bank governor Phillip Lowe has played down claims that more and more Australian homeowners are debt stressed and in trouble with their home loans.
Read MoreAs widely forecast, the Reserve Bank cut its key interest rate at yesterday’s October board meeting, setting the cash rate at a new all-time low of 0.75%, down from 1% which was the previous all-time low and again making it clear that it would continue to cut if need be.
Read MoreTwo deals from two financial groups yesterday have again confirmed the push to sell non-relevant assets continues in the wake of the Hayne royal commission.
Read MoreNew Zealand based outdoor and adventure wear retailer, Kathmandu will become a $NZ billion-dollar market value company once it tucks away Australian surfwear icon, Rip Curl.
Read MoreOil continued to lose, copper was shaky and other commodities also lost some of their sheen as the confusion caused by Donald Trump in trade and global politics continued to batter confidence globally.
Read MoreMarkets lost their first half (and second quarter) momentum in the three months to September with iron ore prices so far as Australia is concerned the biggest loser with a 21% slump after an 82% surge in the first six months of the year.
Read MoreVale, the big Brazilian iron ore producer, has ruled out returning dividends or offering shareholders buybacks while it repairs the damage caused by the January 25 dam wall disaster that left upwards of 300 people dead or missing and slashed production and export volumes for the giant.
Read MoreANZ’s move to partially frank its final dividend has sent ripples across the financial sector and triggered fears that Westpac on Monday and the NAB in a week’s time, will follow suit.
Read MoreNo surge in housing credit, business, and personal credit were again weak – August was, in fact, a month that matched the slide in the momentum in the economy that has emerged from weak retail sales, falling car sales and other lacklustre consumption data.
Read MoreChina heads into the week-long Golden Week/70th-anniversary-holiday break starting today (October 1) with a tiny bit of good news about the health of its still vital manufacturing sector.
Read MoreAgricultural chemicals group Nufarm’s biggest shareholder, Japanese group, Sumitomo, has bailed out the Australian company by paying $1.2 billion for a key asset in a move that will allow Nufarm to slash a worrying debt burden.
Read MoreThe ASX is looking at a soft start today after a weak session on Wall Street on Friday. The overnight futures market had the ASX 200 starting 12 points down this morning.
Read MoreGlobal share markets fell over the last week on the back of geopolitical concerns with Democrats opening an impeachment inquiry into President Trump, ongoing trade war uncertainties and more Brexit confusion at the same time that global business conditions surveys remained soft.
Read MoreSo will the Reserve Bank cut interest rates for a third time this year at its October meeting tomorrow, or wait until Melbourne Cup day to deliver?
Read MoreGold prices finished last week with a loss on Friday and a loss for the week.
Read MoreGlobal oil futures finished lower on Friday, as news reports tied to Iran sanctions, a cease-fire between Saudi Arabia and Yemen, and President Trump considering limits on investor portfolio flows into China, pressured prices, contributing to a loss of nearly 4% for the week.
Read MoreGlobal iron ore prices dipped late last week and pricing this week will be confused by the Golden Week holiday and the celebrations associated with the 70th anniversary of the formation of the modern Chinese state.
Read MoreThere are central bank meetings in Australia and India, the usual start of month surveys of manufacturing and services (especially in China), plus the significant quarterly Tankan survey from the Bank of Japan.
Read MoreLatitude Financial (the old GE Money’s Australian arm) has confirmed plans for second attempt to launch an initial public.
Read MoreA radical change from Fonterra, from a global giant the dairy company is retreating back home to focus on NZ milk with plans to chop debt again this year and to phase out overseas “milk pools”.
Read MoreStill in dairying, this time in Australia and the competition regulator, the ACCC says it will not oppose the proposed acquisition of Lion Dairy & Drinks’ Tasmanian-based cheese business by Saputo Dairy Australia.
Read MoreNew Zealand dairy giant Fonterra is expected to reveal a massive 2018-19 financial loss this morning as it continues to clean up its businesses and attack its huge debt pile.
Read MoreMore bad news from US – Australian listed coal miner, Coronado Global Resources which has emerged as one of the biggest IPO flops in the past year.
Read MoreThe Reserve Bank of New Zealand has left its official cash rate unchanged at a record low 1% but like its Australian counterpart, left open the chance of further cuts to try and kick start a meandering economy.
Read MoreThe RBA Governor has made it very clear that the central bank is prepared to continue cutting rates to help support “sustainable growth” while acknowledging that low-interest rates are here to stay for “an extended period” of time.
Read MoreTreasury Wine Estates CEO Michael Clarke has again held out the possibility of splitting the company into two parts – one to handle the low margin wines and the other its premium products, such as the Penfolds reds range.
Read MoreTower Ltd’s desire to buy the NZ insurance book of South African group, Youi has seen it forced to go to shareholders for new capital totaling $47.2 million after discussions with the country’s Reserve Bank.
Read MoreThe collapse of UK travel company, Thomas Cook after 178 years in business will leave an impact across every part of the global holiday and business travel businesses, with costs estimated to easily top $A2 billion.
Read MoreAhead of its September 30 balance date for its 2018-19 financial year ANZ Bank has completed the sale of its retail and small business banking operations in Papua New Guinea.
Read MoreShares in listed online travel retailer Webjet ended down 3.5% yesterday after a slide on the back of surprise news that the company had been caught short with the failure of UK travel business, Thomas Cook.
Read MoreFriday saw Wall Street turn lower after Donald Trump again undermined attempts to stabilise the trade war and the US Federal Reserve made it clear it will continue to inject up to $90 billion a day into US money markets to keep short term interest rates steady.
Read MoreThe ASX is heading for another weak opening this morning after a mixed session for global markets on Friday.
Read MoreIron ore prices slid on Friday amid further losses in Chinese steel markets. The Metal Bulletin Fastmarkets iron ore index 62% Fe fines price was $US92.56 a tonne, down 67 cents a tonne.
Read MoreGold finished higher Friday to end the week with the first gain in nearly a month, as President Donald Trump announced more sanctions on Iran and China cut short its trade negotiations with the US.
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