ABOUT 800,000 Australian households and up to 2 million small and medium-sized enterprises are living on a knife-edge and could go under in the face of high costs of debt, the latest mortgage report compiled by JPMorgan and Fujitsu warned yesterday. More than 800,000 households are experiencing some form of mortgage stress — five times…
THE dollar has opened lower for the 12th consecutive local session after dropping to a five-year low overnight as the bleak global economic outlook caused investors to abandon the high-yielding currency. The dollar touched a five-year low of $US0.6454 during the overnight session, but recovered slightly after a number of global central banks eased monetary…
THE share market was down 4 per cent at noon after a horror session on Wall St overnight, where stocks fell to a five-year low. At 12noon (AEDT) the benchmark S&P/ASX200 was down 4.08 per cent at 4430.2, while the broader All Ordinaries index had lost 4.03 per cent, to 4412.7. Macquarie Equities adviser Helen…
AUSTRALIA leads the world, and a bloody good thing it is, too. This is the theme of the response to Glenn Stevens’ bold 100-point cut to interest rates. I agree with it, and congratulate the Governor of the Reserve Bank of Australia and the RBA board for their boldness at a time of great global…