BP To Set Up $US20 Bn Fund, Won’t Pay Shareholders
BP has attempted to free itself from the mess it caused with the Gulf of Mexico oil well explosion and leak on April 20.
Read MoreBP has attempted to free itself from the mess it caused with the Gulf of Mexico oil well explosion and leak on April 20.
Read MorePorts and transport group, Asciano, says it won’t pay a final distribution for the 2010 financial year.
Read MoreJapan’s central bank is to set up a new fund to lend around $US33 billion (3 trillion yen) to companies for up to four years to finance new business and expansion.
Read MoreNow we know what Rupert Murdoch plans to do with the billions of dollars in cash sitting on his balance sheet… try and buy back the farm in the shape of a rejected 12 billion pound bid for BSkyB.
Read MoreThe minutes of the June Reserve Bank board meeting confirm that interest rates will not move any time soon; not at until some major change in the economy forces it, such as a sharp rise in inflation, or a settling of the unease over Europe and the euro.
Read MoreAmerica’s key economic policymakers seem to be readying themselves for the possibility that the problems in Europe, plus a weakening level of demand in the domestic economy, might push growth back towards zero in coming months.
Read MoreA new credit crisis is emerging in Spain with the country’s banking system and major companies facing lock-out by other European banks.
Read MoreThere was a lot of comment on china’s May economic report, but the one thing we in Australia can take away from the various reports is that the country isn’t collapsing as many American and European economists and analysts are forecasting.
Read MoreThe Australian dollar has risen by more than 4% in the past week, shaking off the downward pressure of May and early this month.
Read MoreIs the French parent of AXA Asia Pacific readying itself to raise the billions necessary to buy the Asian operations of its local arm, as part of a deal with the National Australia Bank or the AMP?
Read MoreAnyone wondering why the outbreak of fear and loathing in financial markets about Europe won’t go away, the latest quarterly report from the Bank of International Settlements has the explanation.
Read MoreJudging by the strength of the labour market, the Australian economy is not as sluggish as other figures would have us believe.
Read MoreAt last a small hint that the moves by the Chinese government to control property prices are having an impact, with the news that prices rose 12.4% in the year to May in the country’s 70 largest cities.
Read MoreNew Zealand exporters and business now face the prospect of a high currency holding back the tentative recovery for them.
Read MoreEarnings updates, many on the downside, continue to appear as listed companies condition investors on what to expect for the June 30 year or half year financial reporting period.
Read MoreThe combination of high private and public sector debt levels in developed countries, extreme swings in monetary policy and greater government involvement in the economy likely mean we have entered a more volatile macro economic environment.
Read MoreReserve Bank Governor, Glenn Stevens, thinks it’s a good time for Australian households to be saving more and borrowing less.
Read MoreThe release of housing finance and consumer confidence figures yesterday warmed us up nicely for yesterday’s speech from Reserve Bank Governor, Glenn Stevens.
Read MoreChina’s exports in May grew about 50%, according to leaks in Beijing, news that sparked a surge on the local stockmarket.
Read MoreTwo small earnings upgrades yesterday for June 30, 2010 companies.
Read MoreWhile Japanese annual first quarter economic growth is expected to be cut to around 4%-4.2% (around 0.9%-1% quarter on quarter) when the government releases its latest estimate later today, early figures for April suggest the economy remains basically on course.
Read MoreThe iron ore and coal price boom continues with strong demand from Asian mills driving quarterly prices higher.
Read MoreBusiness confidence fell sharply in May, as expected, thanks to the mixed flow of news and events in the past month.
Read MoreShares in transport and logistics group, Toll Holdings hardly budged yesterday after the company joined the growing list of listed groups providing earnings warnings for the 2010 year.
Read MoreNewcrest Mining said yesterday it has finished due diligence on rival Lihir Gold and expects to complete the $9.5 billion deal by September.
Read MoreEven though Gindalbie Metals doesn’t like the proposed resources super tax, it is continuing with its huge WA iron ore project.
Read MoreLife is getting tougher and rougher for the world’s banks.
Read MoreAlthough the local sharemarket and dollar fell sharply yesterday, the economy is still in good shape.
Read MoreThe media stories Monday morning suggested that Brambles had been hit by the loss of a major customer in the US, leading some to think it was the huge Wal-Mart deal with its Chep pallet business.
Read MorePerth-based Coote Industrial Ltd yesterday hinted at the sale of some of its assets and warned that asset write-downs may be incurred in the current financial year.
Read MoreShares in the National Australia Bank were sold off more than 3% yesterday in the general sell-off as the bank confirmed its latest expansion move in America.
Read MoreA very weak start for markets in Asia today after Wall Street and European shares fell heavily Friday night following the release of very poor jobs numbers for May for America.
Read MoreOil, wheat, corn and metals took a hammering Friday night in Europe and the US after the weak American jobs figures for May and the outbreak of more concerns about the financial health of Europe.
Read MoreThe fall out from the US May jobs report, Australian jobs, US retail sales and Chinese economic data for May will be the focus in markets this week.
Read MoreBanks in Australia and other countries will not have to worry about the push from the US and Europe for a global levy or tax, but they will have to hold more capital and liquidity to withstand a future credit crunch.
Read MoreThe National Australia Bank has picked up the deposits and assets of a small regional US bank that failed on Friday night, while at the same time it is maintaining its quest for control of Axa Asia Pacific in Australia, but has abandoned its bid to buy branches being sold by the Royal Bank of Scotland in the UK.
Read MoreNow we know what all this talk about our improving terms of trade means.
Read MoreLast month the spin from some economists to explain the continuing strength of car sales was that April’s sales figures had been boosted by vehicles still being delivered to business buyers from the sales boom late in 2009 which was driven by the now ended tax breaks.
Read MoreThe shake-out in the healthcare sector continues to rattle listed operators.
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