New home building will fall 15 per cent in 2011 as interest rates and poor affordability wipe out recent stimulus-driven gains, says the HIA – Australia’s peak residential construction body. Continue reading
Tag Archives: financial crisis
China Warns of Double Dip Recession
CHINA’S Premier, Wen Jiaboa, has warned that the world risks sliding back into recession and says his country faces a difficult year trying to maintain economic growth and spur development. Continue reading
RBA suggest the Big Banks are ripping off customers
THE Reserve Bank has suggested the major banks may be profiteering from their recent round of interest rate increases, arguing moves on lending rates over the past two years have been outpacing funding costs. Continue reading
Rates set to increase
Liquidation breast option for Hooters!
The Australian arm of US restaurant chain Hooters has been placed in liquidation.
The Hooters chain in Australia had restaurants in Parramatta, Cronulla and Mermaid Beach. Continue reading
Business borrowing dries up and hard to find
BUSINESS borrowing has fallen to its lowest level in three years as banks tighten lending standards, raising fears of a sharp slump in private investment this quarter. Continue reading
Mass layoffs to come in building sector
Reply
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
Aussie business fear next 3 months will be the worst
AUSTRALIAN businesses fear the next three months will be their toughest quarter yet – they fear the financial crisis will keep driving down sales, profits and employment levels.
A nationwide survey of 1200 companies revealed more than 50% were preparing for a drop in sales, while 59 per cent expected lesser profits. Continue reading
Gloom hits manufacturing
Australian manufacturing activity dropped to an all-time low in November. Continue reading
Lenders’ patience running out – More liquidation and Voluntary Administration to come
THE nation’s banks are expected to sever the lifelines of more crippled companies.
The collapse of Allco Finance Group and likely demise of ABC Learning Centres signals the start of moves to clean up the mess created by the 15-month financial crisis. Continue reading
CRS Warner Kugel trading as The Insolvency Experts © 2011. All rights reserved