National Australia Bank's direct asset management business, NabInvest, has announced it has acquired a 35 percent equity in AREA Property Partners (AREA), a global real estate fund manager based in New York.
The National Australia Bank was able to deliver earnings in the June quarter as local and affiliate banks from offshore locations have contributed to business growth in spite the difficult conditions.
By Greg PeelThe Dow fell 634 points or 5.6% to 10,809, the S&P fell 6.7% to 1119 and the Nasdaq fell 6.
- BIS Shrapnel releases Building In Australia 2011 report- Oz building commencements tipped to recover from 2011/12- Commercial and industrial building the key driver- Residential construction improvement not expected until 2012/13By Chris ShawThe Australian housing market has seen limited activity ...
Markets fell across Asia, Europe and the US yesterday and overnight as the Australian dollar slumped, sharemarkets plunged and gold soared past $US1700 an ounce.
Global equity and commodity prices plunged on Monday as fears of recessions across the Northern Hemisphere caused panic selling by investors. Despite the US credit rating downgrade, the US dollar index and US bond prices rose.
U.S. stocks tumbled deeper into correction territory in a Monday rout that sent the Dow Jones Industrial Average plunging to the biggest point drop since Dec. 1, 2008.
Panicked investors shaved about $17 billion off the Australian share market, sending it to a 25-month low on fears of a volatile Wall Street following the first downgrading of US sovereign debt by Standard & Poor's.
Global equity and commodity prices plunged on Monday as fears of recessions across the Northern Hemisphere caused panic selling by investors. Despite the US credit rating downgrade, the US dollar index and US bond prices rose.
- RedMed quarterly delivered in key areas- Forex pressures continue to impact- Growth outlook still solid, diversification a benefit- Buy ratings still dominate broker viewsBy Chris ShawSleep disorder group ResMed ((RMD)) reported 4Q11 earnings last week and the result had been viewed as an importan...
By Richard (Rick) MillsAs a general rule, the most successful man in life is the man who has the best informationThe history of fiat money has always been one of failure - every fiat currency since the Romans started diluting the silver content of their denarius has ended in devaluation and eventual...
(This story was originally published on August 3, 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).
We anticipate a very volatile environment in the next several days after equity markets fluctuated wildly on Friday and the first downgrade of US sovereign debt from AAA to AA- was done by S & P since debt ratings began in 1917 after US markets closed.
New research has revealed that rural and regional workers are not receiving adequate mental health support services. Medibank Health Solutions has released research results which show rural and regional workers feel their employers have unrealistic work expectations which have led to a poor work-life balance.
As an emerging market that has only opened up to foreign investment in the early 1990s, job opportunities for foreigners in Vietnam are far more plentiful than anywhere else in Southeast Asia (except perhaps in Singapore).
Competition time! We love our washing lines and clothes lines around here at My Green Australia. So we want to celebrate this love and also welcome Spring and Summer time!
In case you haven't noticed - and, in lieu of the press generated by the recent battle royal over how much to increase the U.S. national debt, most of you probably haven't - Europe is on the brink of financial collapse. But before you shed too many tears for the Mother Continent, save a few for America because at the pace we're going, we're next.
Late on Friday night US time, ratings agency Standard and Poor´s downgraded the long-term credit rating of the United States from AAA to AA+.
After a tumultuous end to last week the Aussie opens on Monday at 1.0400 as investors continue to digest news of the United States downgrade by S & P on Saturday morning local time from AAA to AA+.
Standard & Poor's took the unprecedented step of downgrading the U.S. government's "AAA" sovereign credit rating Friday in a move that could send shock waves through global financial markets and potentially undermine world economic growth. In a press release, S&P, cut its top-notch long-term credit rating for the U.S. Treasury's debt to AA+ with a negative outlook.
Perhaps all those doomers and gloomers in Australia moaning about how tough times are here, will lift their blinkers and have a quick look at Australia's AAA credit rating and compare that to the US after Standard & Poor's cut on Saturday, our time.
So the biggest questions about the impact of the S&P downgrade of America's credit rating are: the impact on the share market here and offshore today and tonight, and how many dominoes will fall as the rating cut impacts on the emerging crisis of confidence.
AFTERNOON REPORT- CLOSING
(4.30pm AEST)The Australian share market fell to a two year low today, as global markets were heavily sold off on fears of a renewed global economic slowdown. US markets posted their biggest one day decline in two and a half years overnight while the local market had its worst one day fall since January 2009. The All Ordinaries Index (XAO) shed 183.2pts or 4.2pct to 4169.7. The All Ords closed at a level of 4097 on the 24th July 2009.
AFTERNOON REPORT
(12pm AEST)The Australian share market has fallen to its lowest level since July 2009 in early trade. Overnight European share markets slumped to 11 month lows on continued worries about European sovereign debt, while US stocks recorded their biggest one day decline in two and a half years. At lunchtime in the East, the All Ordinaries Index (XAO) is down 187.8pts or 4.3pct to 4165.1.
The market had been looking for an interim profit of just over $US8 billion for the six months to June from Rio Tinto.
The Dow fell 500 points, with a whack of that happening in the final minutes to make it the worst day since the dark times of late 2008 after Lehman Brothers collapsed.
By Rudi Filapek-Vandyck, Editor FNArenaI joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently.
The Aussie saw an extreme move lower overnight as markets sold out of risk instruments. We could see a small bounce from 1.0400 which is an absolutely crucial level for the Aussie dollar, but traders will continue to focus on the downside. A break of 1.0400 could set up a medium-term move to below 0.9800.
By Greg PeelThe Dow fell 512 points or 4.3% while the S&P fell 4.8% to 1200 and the Nasdaq fell 5.1%.All talk in the market yesterday morning was as to whether activity on Wall Street on Tuesday night and Wednesday night had signalled a capitulation bottom.
The AUD is significantly lower this morning as risk aversion trading takes centre stage.
