Australasian Investment Review (AIR) is a free daily news service with a weekly online magazine covering global financial markets with a focus on Australia, New Zealand and Asia.
Two different sales updates yesterday from two of our largest retailers, Woolworths, and Harvey Norman.
Finally, a bank CEO has owned up to what banking analysts and more astute investors and economists have been saying for some time.
OZ Minerals Ltd, the world's second largest zinc producer, went on the hard sell yesterday to try and convince investors that the commodity price crunch would not take too greater toll on the company and its future prospects.
Stockland Group, Australia's second-largest listed property group or Real Estate Investment Trust, says it expects earnings per share to fall 7% in fiscal 2009, after factoring in its forecast for nominal earnings growth, previously announced write-downs on its UK assets and a share sale last week.
The market is having a good day – up 112 at midday – on its high. Resources flying up 5.6% led by the big boys, BHP up 6.8%, RIO up 8.8% and FMG up 7.3%. Good day overall – much needed.
Well China's economic growth did slow in the September quarter, but not too many commentators thought fit to mention a major contributing factor besides the slowing economies of the west and the credit crunch.
Prices paid to Australian producers rose in the September by almost twice as much as economists had forecast as costs for energy, water and construction jumped.
Perth-based national car dealer Automotive Holdings Group Ltd (ASX code AHE) says the economic downturn has led to a 30% drop in profit in the first three months of fiscal 2009.
The building slump continues to take a toll on Sydney-based paint maker, Wattyl Ltd which said yesterday it will significantly expand its cost cutting program to try to offset falling revenue and earnings.
Small Western Australian miner, Australian Atlas Iron, has joined the growing group of Australian iron ore producers which have reported tougher times in China.
