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Coal Slump Grows
The great Australian resources boom is starting to fly apart at the seams with a major coal mine shut, production cut and another Queensland metal mine affected yesterday.
Read MoreIron Ore Slump Hurts Fortescue
And Fortescue Metals yesterday issued another announcement concerning contracts and shipping arrangements: this time it is reviewing the legal status of shipping contracts that have been suspended or delayed.
Read MorePBL Media, Centro Debt Deals Sorted
PBL Media’s banks have agreed to bail it out by agreeing to the recap plans put forward by CVC, the private equity group and controlling owner.
Read MoreUS Slashes Rates As Economic Slump Worsens
No wonder the US Federal Reserve cut its key interest rate to its lowest level ever this morning, and promised to do everything to promote "resumption of sustainable growth" in the US economy after saying that the economic outlook confronting the US had "weakened further".
Read MoreRBA To Wait
The Reserve Bank will spend the next six weeks considering the impact of its sharp rate cuts since September and the federal government’s $10 billion stimulus package before deciding on whether interest rates should fall again.
Read MoreConsumers More Upbeat
Business confidence down and falling, consumer confidence up and buoyed by rate cuts and lower petrol prices: once again we are seeing an economy where two major groups of participants are taking divergent views on the economy.
Read MorePac Brands Cuts Divie
Investors have given Pacific Brands the thumbs down after the company yesterday confirmed that it was slashing the 2009 dividend by 65%.
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