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Price slidePremiumEvergrande fallout to hit Australian economy

The financial plight of Chinese property giant Evergrande is threatening to indirectly realise Beijing’s hopes of delivering a major hit to the Australian economy.

Sean Smith

Board boostPremiumNev Power, Ben Wyatt join APM as it eyes float

Perth-based global employment services provider APM bolsters executive ranks ahead of a potential listing on the ASX.

Adrian Lowe

Go aheadPremiumAlcoa plans to restart Brazil aluminium plant

Alcoa is pulling the trigger on a project to restart an idled aluminium smelter in Brazil after prices of the metal surged to a 13-year high amid Chinese output cuts.

James Attwood

Crypto volatilityPremiumBitcoin acts more like risky stock in market turmoil

When Wall Street makes the case for crypto, it’s all about the benefits of diversification. But when markets go down, Bitcoin has an embarrassing habit of getting swept up in the sell-off.

Eric Lam and Eddie van der Walt

Low supplyPremiumBrexit takes the fizz out of UK soft drinks market

The British Soft Drinks Association says manufacturers have “only a few days” left of a vital ingredient to produce beverages and can’t import supplies from the EU due to Brexit.

Thomas Buckley

Wheels dealPremiumSeaLink buys bus operator Swan Valley Tours

The purchase follows SeaLink’s purchase of Bunbury’s resources-focused bus line Go West in July.

Sean Smith

MarketsASX back to gains but banks under cloud

Shares have bounced back to gains on the ASX, although troubled Chinese property giant Evergrande cast doubt over bank stocks.

Steven Deare

Safe havenPremiumGrowing Evergrande debt fears push investors to gold

Gold advanced as fears of a spillover from debt woes of Asian real estate developer China Evergrande Group stoked demand for havens.

Yvonne Yue Li

Merger talksPremiumWestern Areas opens books to IGO for $1b takeover

Talks between the two parties have progressed slowly over the past month, but the new development shows Western Areas is prepared to engage with its suitor.

Stuart McKinnon

Fortunes fallPremiumGlobal stock rout wipes $186b from world’s uber wealthy

A global rout in stock markets sparked by concerns over China Evergrande Group hit the world’s biggest fortunes Monday, with the richest 500 people losing a combined $US135 billion ($186b).

Tom Maloney and Blake Schmidt

Stock bouncePremiumIron ore giants regain ground despite falling prices

Iron ore has continued its retreat further into double-digit prices as China steps up restrictions on industrial activity in some provinces. But Pilbara players have staged a comeback on the ASX.

Daniel Newell

Overnight marketsWall Street slumps amid broad sell-off

US stocks have closed sharply lower amid investor concerns about the pace of a global economy recovery.

Caroline Valetkevitch

Slump worsensVideoPremiumIron ore rout wipes billions of value off majors

Nearly $8 billion was wiped from the value of WA’s big three iron ore miners today as the commodity’s recent price collapse looked set to claim another victim at the junior end of the market.

Stuart McKinnon

MarketsHorror day on ASX as miners hammered

The ASX had one of its worst days this year as the price of Australia’s biggest export continued its free fall, sending mining giants firmly into the red.

Rebecca Le May

Slump to continueVideoPremiumMore China steel cuts to extend iron ore price pain

Iron ore has extended its slump below $US100 a tonne as China steps up restrictions on industrial activity in some provinces, which will add further pressure to prices.

Krystal Chia

MarketsASX posts biggest loss since February

Investors have seen their biggest losses since February on the ASX as mining shares kept declining and a teetering Chinese property giant posed problems.

Steven Deare

Down againVideoPremiumIron ore rout shaves $10b off Twiggy’s FMG

Shares in Fortescue Metals Group have tumbled again on the Australian market after the price of iron ore sank below $US100 a tonne for the first time in 14 months late on Friday.

Daniel Newell

Auction winPremiumTransurban takes full control of Sydney tolls for $11b

Australian toll-road operator Transurban Group and three partners will pay $11.1 billion to acquire the remaining half stake they don’t already own in a network of Sydney cross-city routes.

Harry Brumpton

Stock routPremiumEllison says iron ore ‘certain’ to break below $US100/t

The Mineral Resources chief has also lamented Australia’s deteriorating relationship with China.

Sean Smith & Kate Purnell

MarketsIron ore plunge leaves ASX steeped in red

The ASX was dragged lower by miners, with Fortescue battered by an iron ore price plunge, while a tech firm was left at the altar.

Rebecca Le May

EV marketPremiumMusk praises Chinese carmakers after rocky few months

Elon Musk praised Chinese automakers at an online forum on Friday, where the Tesla chief also touched upon data security and the nation’s potential as a market for electric vehicles.

Bloomberg News

Cha-ching!Qantas boss paid nearly $2m last year

Qantas chief Alan Joyce received nearly $2 million in the past financial year, as the airline purged thousands of staff due to the coronavirus.

Steven Deare

Pact progressPremiumChina wants to join Asia-Pacific trade deal

Beijing has applied to join an Asia-Pacific trade pact less than a day after Australia announced they would form a more cohesive defence arrangement to offset China’s rising military prowess.

Bloomberg News

MarketsIron ore miners friendless, ASX lower

Analysts urged investors to sell the iron ore heavyweights, and many took the advice, as the Australian market had its sharpest fall of the week.

Steven Deare