A rare emergency trading session opened Sunday afternoon to allow Wall Street dealers in the $US455 trillion derivatives market reduce their exposure to a potential bankruptcy filing by Lehman Brothers. Continue reading
NSW was the only state or territory to record negative growth in the June quarter as its households were hit hardest by high interest rates and petrol prices. State final demand – a principal measure of state economic activity – shrank by 0.1 per cent in NSW in the three months to June 30. Continue reading
Any interest rate cut will come at the cost of a slowing economy Continue reading
THE tail of the profit season continues to underline the Australian economy’s dependence on a commodities boom that is losing momentum. Continue reading
EVERY economic slowdown leads to job losses, but the recent spate of staff cutbacks is showing the impact of structural as well as cyclical factors, economists say. Continue reading
INFLATION is hitting the hip pockets of working families harder than any other group, new figures show. Continue reading
FEDERAL regulators have increased the number of struggling banks they have effectively put on probation, forcing them to fix their problems and try to avoid potentially costly failures. Continue reading
PRIME Minister Kevin Rudd has admitted Australians are worse off since he took power late last year, but says he is not to blame. Continue reading
Borrowers take heart: the Reserve Bank of Australia feels your pain.
The central bank, acknowledging a slump in borrowing, lower consumer confidence, and weaker growth prospects, says an early rate reduction may be needed. Continue reading
THE global economy — which had long remained resilient despite US weakness — is now slowing significantly, with Europe offering the latest evidence of trouble. Continue reading
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