TELSTRA’S main rival in the bidding process for the national broadband network says it remains committed to the project despite the withdrawal of one of its key members. Terria chairman Michael Egan said he regretted today’s withdrawal of AAPT from the consortium of eight telecommunications companies, just six weeks before the federal government’s deadline for…
This note looks at the latest gyrations in financial markets. The key points are as follows: • While shares collapsed last week this appeared to owe much to an investor panic regarding the freezing up of money and credit markets. • Government moves to guarantee bank borrowing and inject capital into banks along with US…
We are going through the worst financial crisis in our lifetime.” – Prime Minister Kevin Rudd A week may be a long time in politics but it’s proving to be an eternity on financial markets, as investors increasingly worry about runs on banks, global economic collapse and a deep recession. It’s requiring the Rudd government…