The GFC hit younger Australians hardest last year, pushing more of them onto government benefits and slowing their wages, a new report shows. Continue reading
Tag Archives: downturn
Companies scared of new sharemarket floats in downturn
Just eight companies floated on the Australian Stock Exchange in the first six months of 2009, raising a $90.86 million. Continue reading
Qantas slashes jobs and profit forecasts
Qantas will slash up to 1750 jobs, ground 10 aircraft and defer delivery of superjumbo A380s and other aircraft in a desperate attempt to steer its way through the worst aviation downturn in years.
The airline has also slashed its profit forecasts by as much as 80% because of a rapid deterioration in trading conditions in recent weeks. Continue reading
Insolvency up 23% in February
Insolvency firms are bracing for a surge in the number of companies entering voluntary administrations and liquidations after new figures from the Australian Securities and Investments Commission revealed the number of insolvencies leapt 23% in February. Continue reading
Mass layoffs to come in building sector
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MASS lay-offs are looming in the home building and building supplies industries as orders for new homes evaporate in the face of the financial crisis. Continue reading
More car industry job losses – The Australian 27-8-08
CAR axle component supplier Unidrive has announced it will sack 40 workers, due to the downturn experienced by major car manufacturers. Continue reading
Picture of disquiet as oil and metals join dollar heading down – The Australian 18-8-08
THE fall in oil prices leaves us inclined to celebrate, and it is easy to see the fall in metals prices as part of the normal rough and tumble of a traditionally volatile market.
But the simultaneous, and surprising, shifts in currency markets, with the US dollar surging and the Australian dollar diving, suggest a more disturbing dynamic is at work. Continue reading
British business body warns of recession – Courier Mail 18-8-08
AN influential body representing British business said there was a “distinct possibility” of the United Kingdom facing recession in the next six or nine months Continue reading
Reserve Bank Statement on Monetary Policy 11 August 2008
STATEMENT ON MONETARY POLICY
August 2008
The material in this Statement on Monetary Policy was finalised on 7 August 2008 and released on 11 August 2008. Continue reading
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