Australian economy

Downturn hits boardrooms

Courrier Mail (Free subscription) | 7 hours ago

IN LESS than a month corporate Australia has written off almost $20 billion from the value of its balance sheets.

Record loss for property group

The Australian (Free subscription) | 7 hours ago

SHOPPING centre owner and manager Centro has recorded one of the biggest losses in Australian corporate history, taking a massive hit on the value of its Australian and US properties.

Hope for state property market

Courrier Mail (Free subscription) | 7 hours ago

THE triple whammy of an interest rate drop, stamp-duty exemptions and the spring selling season has created hopes for the Queensland property market.

• Rates put the bite on new home sales - News.com.au
• New home sales fall in July: survey - Business Spectator

CEO defends ABC childcare

Courrier Mail (Free subscription) | 7 hours ago

A DEFIANT Eddy Groves has hosed down speculation that his stricken ABC Learning Centres would collapse or that he would step down as chief executive.

Harvey Norman upbeat

Courrier Mail (Free subscription) | 7 hours ago

HARVEY Norman has lifted market share in key categories despite a softer second half and a 12 per cent slide in the full-year bottom line.

Airport Link languish

Courrier Mail (Free subscription) | 7 hours ago

Queensland Investment Corporation chief executive Dr Doug McTaggart on Friday defended his group's multimillion-dollar investment in BrisConnections

Oil prices rise on storm fears

News.com.au (Free subscription) | 19 hours ago

OIL prices rebounded in Asian trading today as traders kept a close watch on a storm moving toward the Gulf of Mexico and key oil installations, analysts said.

Shares follow Wall St higher

News.com.au (Free subscription) | 20 hours ago

THE Australian share market has opened stronger, buoyed by the big miners and financials, after US stocks gained for a third session overnight.

Lehman Brothers looks to cut 1200 jobs

News.com.au (Free subscription) | 23 hours ago

LEHMAN Brothers Holdings is looking at cutting some 1,200 jobs in its latest round of cost cutting, a person familiar with the matter said, as weak financial markets spur layoffs across Wall Street.

Nylex washed out as water tank demand falls

News.com.au (Free subscription) | 3 hours ago

STRUGGLING diversified industrial group Nylex has reported an annual net loss of $18.8 million, largely blaming a downturn in the market for rainwater tanks.

• Nylex reports net loss of $18.8m - Business Spectator

Billions head down the gurgler

News.com.au (Free subscription) | 3 hours ago

THE global credit crisis has come home with a vengeance, wiping more than $4.5 billion from the profits of Centro and Allco.

Big losers shed $4 billion

The Australian (Free subscription) | 7 hours ago

EMBATTLED Allco Finance chief David Clarke yesterday described the group's position as "fragile" after a disastrous $1.73bn net loss.

Heads roll as Babcock reacts to fall

The Australian (Free subscription) | 7 hours ago

BABCOCK & Brown Power is the latest offshoot of the troubled investment bank to clear out itssenior ranks, following a disappointing $427 million full-year loss.

Group's executive pay up for review

The Australian (Free subscription) | 7 hours ago

ALLCO Finance Group will review its remuneration structure and seek shareholder approval to issue up to 69 million options to retain key senior executives.

Olympic gold eludes some results

The Australian (Free subscription) | 7 hours ago

WHAT a time it's been for human endeavour: marathon efforts in the face of adversity, monumental stumbles and one or two performances so dazzling they bordered on the suspicious.