The Boom Goes On
Mining and energy companies are developing a record $70.5 billion of new projects in Australia to meet growing demand from overseas for metals and energy.
Read MoreSituations & Snippets
The slump in the US housing industry caused by the subprime crisis and credit crunch has snared another Australian company (or quasi-company) operating in America.
Read MoreRIC Says No To GNC
While ”opportunistic" was a word used by IAG, it also springs to mind insofar as the Graincorp bid for Ridley is concerned. And, yes, it was also a descriptor that entered the word processor of the Ridley board and their advisers yesterday in the rejection of the GrainCorp offer.
Read MoreIAG’s Final ‘No’
And late yesterday evening Insurance Australia group’s board formally rejected the latest QBE "offer".
Read MoreUS Housing Slump Bites FBU
It was an acquisition made for the right strategic reasons, but Fletcher Building’s recently acquired US Formica USA subsidiary will cut $60 million from full-year profit.
Read MoreCardno Sees Earnings Higher
But the market had a set against practically everyone yesterday: even a company revealing a solid upgrade to full year earnings of more than 50%.
Read MoreLNN’s Earnings Up, But Will 2009 Be Better?
A tick from the market for brewer, Lion Nathan after it forecast higher returns in the 2009 financial year.
Read MoreMacquarie Group’s Tough 2009 Outlook
2008 ended up being something of a struggle for Macquarie Group, with factors outside its control conspiring to make conditions in the second half to March 31 pretty tough.
Read MoreRBA Puts Rates Back On The Agenda
The Australian dollar was pushed over 96 USc yesterday after the Reserve Bank used the minutes from its May 6 board meeting to put an interest rate rise back on the table, with the strong warning that one is in the offing if demand doesn’t continue to slow.
Read MoreTSE Hit By Aussie Dollar
Meanwhile the darling of many investment analysts lately, Transfield Services, took a pounding Friday when it revealed a surprise earnings downgrade because of the impact of the strong Australian dollar.
Read MoreGNC Bids For Ridley Corp.
With the scent of improved crops and returns, there’s another example of rural rationalisation outside the farmgate with Graincorp, the largest grain handler on the East Coast, launching a surprise hostile offer for livestock feed maker Ridley Corporation.
Read MoreDiary: Watch Macquarie
After the Federal Budget last week and its aftermath, it will be a less frenetic week here for the economy with only a couple of important statistics for release.
Read MoreCommodities: Oil, Gold, Metals Up
The weaker US dollar and concerns about the reliability of oil supplies helped send the price to an all time high of $US127.82 on Friday, before it eased in late trading to close at $US126.29, up 1.7% or $US2.17 a barrel in New York.
Read MoreAussie Dollar Crashes Through 95 US Cents
The Australian dollar has hit the highest level since being floated back in 1984.
Read MoreMarkets UP: Thanks BHP, Rio
Well, the local market here is expected to be a touch firmer today after Friday’s indifferent close in New York and the absence of any negative news about commodities and the BHP-Rio bid situation.
Read MoreCCA’s Confidence For 2008
The market got a taste for the earnings outlook for Coca-Cola Amatil yesterday after shareholders at the AGM were told to expect "high single digit growth in net profit" for the 2008 financial year.
Read MoreJapan-UK Inflation Surges
Inflation might be of emerging concern to the US, but in Japan it’s a real problem now, which shows no sign of slowing.
Read MoreUS Inflation Up
I think the US federal Reserve is trying to tell us something about inflation and interest rates.
Read MoreWage Costs Still Under Control
Amid all the debate over the 2008-09 federal budget it’s useful to remember one thing.
Read MoreHVN Sales Growth Slows Sharply
The slowdown engineered by the Reserve Bank is having an impact on retailers, large and small.
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