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Terry McCrann

Clockwise from top left: A younger Terry McCrann, Sydney stock market during the 1980s, how the papers covered the 1987 crash and Melbourne stock exchange in 1987.

End of an era: McCrann’s snapshot of 46 years

It’s the end of an era as legendary business columnist Terry McCrann looks back at the past 46 years as he signs off on his last regular column.

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FILE PIX - NCA NewsWire Photos - 21 FEBRUARY, 2024: Woolworths Group chief executive Brad Banducci will step down in September, the company has announced.In a statement published to the ASX on Wednesday, Woolworths Group said Mr Banducci had given notice of his intention to retire after 13 years with the company, and eight and a half years as chief executive. Picture: NCA NewsWire / Adam Yip

Banducci leaves Woolies in top shape

Brad Banducci should feel pretty satisfied with the latest result at Woolies – his final mark on a stellar turnaround at Australia’s biggest supermarket group.

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A freight train carrying iron ore travels along a rail track towards Port Hedland, Australia, on Monday, March 18, 2019. A two-day drive from the nearest big city, Perth, Port Hedland is the nexus of Australias iron-ore industry, the terminus of one of Australias longest private railways that hauls ore about 400 kilometers (250 miles) from the mines of BHP Group and Fortescue Metals Group Ltd. The line ran a record-breaking test train weighing almost 100,000 tons that was more than 7 kilometers long in 2001, and even normal trains haul up to 250 wagons of ore. Photographer: Ian Waldie/Bloomberg via Getty Images

BHP profit all about China

BHP and its multi-billion profits are still all based on China. Today it’s iron ore tomorrow it will be copper.

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WASHINGTON, DC - JULY 31: Federal Reserve Chairman Jerome Powell takes a question from a reporter at a news conference following a Federal Open Market Committee meeting at the William McChesney Martin Jr. Federal Reserve Board Building on July 31, 2024 in Washington, DC. Powell spoke to members of the media after the Federal Reserve held short-term interest rates where they are with broad expectations that the rate with drop in September. Andrew Harnik/Getty Images/AFP (Photo by Andrew Harnik / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Why Fed is too late with rate cuts

If the Fed had been doing its job it would have already cut rates but it’s now unlikely the US will get its ‘Goldilocks scenario’ and by October the economy won’t look great.

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GLENDALE, CALIFORNIA - AUGUST 21: A Ford F-150 Lightning electric pickup truck is displayed for sale at a Ford dealership on August 21, 2024 in Glendale, California. Ford announced it is upending its electric vehicle (EV) strategy for North American vehicles to focus on hybrids, affordability, and longer ranges. Mario Tama/Getty Images/AFP (Photo by MARIO TAMA / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Chris’s EV ute dream is over

Chris Bowen’s EV pipe dream is quickly fading, and he’s curiously pointing the finger at his own government’s “poor policies”.

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CANBERRA, Australia - NewsWire Photos - August 12, 2024: Tanya Plibersek during Question Time at Parliament House in Canberra. Picture: NewsWire / Martin Ollman

Forgotten Tanya plays green faves

Environment Minister Tanya Plibersek, has exquisitely exposed the government’s anti-Australian priorities with two decisions in two days.

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NEW YORK, NEW YORK - FEBRUARY 23: Traders work on the floor of the New York Stock Exchange during morning trading on February 23, 2024 in New York City. The market opened continuing its rise after yesterdays closing with the S&P 500, the Nasdaq Composite posting their best day since early 2023 and the Dow Jones surpassing 39,000 for the first time ever amid Nvidia reporting a stronger-than-expected quarterly results. Michael M. Santiago/Getty Images/AFP (Photo by Michael M. Santiago / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Wall St searches for rate clue

The eyes of the world’s volatile financial markets will be on the Rocky Mountains resort of Jackson Hole on Friday. Here’s why.

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mining generic

Iron ore horror story

The plunge in iron ore prices may be good news for the world but not in Australia where sustained low prices will have a devastating impact on the economy.

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CANBERRA, Australia - NewsWire Photos - August 15, 2024: Federal Treasurer Jim Chalmers during Question Time at Parliament House in Canberra. Picture: NewsWire / Martin Ollman

More jobs, but more jobless

The jobs numbers project once again the exquisite failure of Australia’s population-led profitless economy.

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CBA CEO Matt Comyn speaking at the AFR Banking Summit. Jane Dempster/The Australian.

CBA delivers again, for investors and customers

CBA continues to show its strength as one of the world’s most profitable banks, with shareholders and customers sharing the spoils.

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SYDNEY, AUSTRALIA - NewsWire Photos AUGUST 6 , 2024: Reserve Bank Governor Michele Bullock delivers the RBA's Monetary Policy decision and Rates announcement. Picture: NewsWire / John Appleyard

Wages keep us on RBA path

Wages and productivity are the real pressures when it comes to which way the RBA breaks next.

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MELBOURNE, AUSTRALIA - NewsWire Photos FEBRUARY 14, 2022: Generic images of JB Hi-Fi retail store on Chapel Street Prahran in inner Melbourne. Picture: NCA NewsWire / Andrew Henshaw

JB’s clever E&S play

JB Hi Fi’s purchase of E&S will bring one of Australia’s great retail brands in head-to-head combat with bathroom and plumbing giant Reece for the first time.

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Alan Joyce, chief executive officer of Qantas Airways Ltd., speaks during a news conference in Sydney, Australia, on Thursday, Feb. 23, 2023. Qantas shares fell the most in almost eight months as the airline flagged higher-than-expected spending on planes in an an immediate attempt to cope with the rapid rebound in passenger growth. Photographer: Brendon Thorne/Bloomberg via Getty Images

Joyce gets a bum rap again

Former Qantas boss Alan Joyce has had his pay docked for some of his actions during Covid, but what about the politicians who caused far greater destruction?

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BRISBANE, AUSTRALIA - NewsWire Photos - AUGUST 6, 2024. Federal Treasurer Jim Chalmers during a press conference regarding the RBAâs decision to leave interest rates on hold. Picture: Dan Peled / NewsWire

Power rebate ‘gift’ keeps giving

Treasurer Jim Chalmers decided to fiddle down inflation with his $300 energy rebate, but problems are looming as price pressures persist.

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Original URL: https://www.heraldsun.com.au/business/terry-mccrann