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Aug 8, 2011

The Australian Business Briefing: Share losses reach $55bn

 
Share losses reach $55bn
ASX Michael Bennet THE Australian sharemarket had lost about $55 billion by late morning following Wall Street's sixth biggest points drop on record.
 
Banks in good shape, says NAB
NAB Scott Murdoch AUSTRALIA'S banks will survive the "panic and crisis" in global markets, Cameron Clyne said as NAB's earnings hit $1.4 billion.
 
CBA, Westpac cut fixed loans
CBA Enda Curran COMMONWEALTH Bank of Australia said today it has cut its fixed-rate home loans by 60 basis points.
 
Cochlear falls amid record profit
nucleaus 5 - cochlear Rebecca Thurlow COCHLEAR posted a forecast-beating profit record but its shares fell more than 2.6 per cent amid a widening market sell-off.
 
Leighton in $705m deal with BHP
Iron ore Robb M. Stewart LEIGHTON has signed an agreement to sell a contract mining services business to BHP Billiton for $705 million.
 
CC Amatil closes SPC factory
coca-cola Gavin Lower THE high dollar has forced Coca-Cola Amatil to close one of its three Australian food plants, resulting in 150 job cuts.
 
$A loses parity at US99.99c
Parity Daniel Morrissey THE Australian dollar fell below parity today, losing nearly 10 per cent against the US greenback in just two weeks.
 
China inflation hits 3-year high
China consumer inflation Aaron Back CHINA'S consumer price index in July jumped 6.5 per cent, marking the highest monthly inflation rate in three years.
 
Financial Markets
$A loses parity at US99.99c
Parity Daniel Morrissey THE Australian dollar fell below parity today, losing nearly 10 per cent against the US greenback in just two weeks.
 
Share losses reach $55bn
Euro suffers on 'haven' $US
 
Financial Markets Coverage
 
Mining & Energy
Debt gloom tarnishes metals
Robin Bromby Robin Bromby THE last thing the base metals complex needed was yet another shock.
 
Gold shines at record $US1720
Copper drops nearly 4pc
 
More Mining & Energy

Smartcompany News and Analysis: Australian shares plunge 5%, 10 practical ways to respond to the turmoil, How to keep cash flowing, Therese Rein’s business comeback.

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Top Story
Five management scandals: What you can learn
Look behind every business debacle, and you will find one of three time bombs: culture failure, systems failure and brain failure. BY LEON GETTLER.
Five management scandals: What you can learn

Top Story
The US waves goodbye to AAA rating: What it really means
Contrary to expectations that the ratings downgrade will result in a big increase in borrowing costs for Americans, the actual impact is likely to be minor. BY SHANE OLIVER.
Goodbye AAA

Aunty B
My new employee is dominating and manipulative. Help!
Just a second. Let me get this straight. You have taken someone into the bosom of your company who is a culture breaker, a bully, a dominator and a manipulator?
Aunty B

People problems
Eve Ash
It is easy to look around your workplace and know who the problem people are. But have you ever put yourself under the same scrutiny?
Eve Ash

Franchise tips and trends
Jason Gehrke
How the South Australian Government has introduced franchise legislation by stealth.
Jason Gehrke

Brand
Michel Hogan
There is a time for brand defence and a time when it just serves as a distraction for what you should really be focused on.
Michel Hogan

Enterprise Leadership
Dennis Roberts
The key to prudent economic management is to ensure you remain at the wheel of your vehicle and keep your lights on.
Dennis Roberts

Entrepreneur Watch
James Thomson
Unlike the US, we have plenty of ammunition to fight a slowdown.
James Thomson

The Australian Business Briefing: Fundies stick to their equities guns.




Fundies stick to their equities guns
Superannuation Andrew Main SUPER fund managers still have more than half of their money in shares.
 
Mint humming in rush for gold
Mint is humming as investors rush gold Andrew Burrell AS soon as the Perth Mint opened for business yesterday, the phones started running hot.
 
Fear blots JB Hi-Fi profit record
Fear blots JB's profit growth record Blair Speedy RETAILER JB Hi-Fi has reported its first fall in same-store sales since listing on the stockmarket in 2003.
 
Bendigo not stressed over arrears
Bendigo and Adelaide Bank manager director Mike Hirst Richard Gluyas BENDIGO and Adelaide Bank has eased concerns about mortgage stress, saying its arrears rates have remained steady and are below 2009 levels.
 
Full speed ahead for operator
ConnectEast Damon Kitney THE largest shareholder in ConnectEast is confident its $2.4 billion takeover bid for the toll-road operator will not be derailed.
 
Rio in joint bid for coalminer
Rio Matt Chambers RIO Tinto and Mitsubishi are being pressured to offer a dividend to seal a $1.49 billion attempt to mop up Hunter Valley miner Coal & Allied
 
Companies brace for funding cost rise
Australian currency Scott Murdoch and Damon Kitney AUSTRALIAN companies are calculating the expected increase in borrowing costs as a result of the financial market volatility.
 
Financial Markets
Euro suffers on 'haven' $US
euro Andrew Johnson THE euro bore the biggest hit and the Australian dollar has fallen below $US1.02 as investors flee risky bets.
 
Wall St sinks more than 600 points
Bears tighten market grip
 
Financial Markets Coverage
 
Mining & Energy
Gold shines at record $US1720
Gold Tatyana Shumsky GOLD has reclaimed its title as the ultimate safe haven.
 
Copper drops nearly 4pc
Oil price falls 6.4pc
 
More Mining & Energy