asxmining.com

ANZ chief Mike Smith says loan defaults among home borrowers will rise as the job market faces pressure from a downturn in economic conditions.

NATIONAL Australia Bank chief executive John Stewart may become the highest-profile Australian casualty of the credit crunch, as speculation grew yesterday that the Scottish-born executive may shortly hand over the reins to the head of NAB’s New Zealand operation, Cameron Clyne.

QANTAS fall guy Bruce McCaffrey has become the world’s first former airline executive to be jailed over a far-reaching global price-fixing scandal.

THE share market is expected to open sharply lower after Wall St fell 2 per cent on predictions the worst of the housing crisis was yet to come.

MIRVAC’S new broom Nick Collishaw has signalled a clean-out that is expected to save theproperty company up to $20 million annually.

ANZ’s collapsing share price, due to the global economic downturn and turmoil in financial markets, will delay its strategy of becoming a super regional bank.

ANALYSTS called it a generational shift, but incoming Qantas boss Alan Joyce says the only difference between him and the departing Geoff Dixon will be an Irish accent.

OFFSHORE investors were last night reviewing their exposures to the Australian banking sector after ANZ slashed its earnings guidance by more than 20 per cent.

OIL prices rose today after rebels said they had sabotaged two pipelines in Nigeria, a major exporter of crude, and analysts said that the market was also tracking developments over Iran.

WORLD oil prices rose in Asian trade today, while the market remains faced with signs of slowing demand and rising supply, analysts said.