When Australia plunged into recession in the June quarter the brutal reality of businesses shuttering and workers losing jobs was like nothing we had ever experienced. Now one thing will limit how far and how quickly the nation snaps back, writes Terry McCrann.
On Tuesday we saw a current account surplus number of $36bn for the financial year. The last time we saw a surplus was back in 1973, which makes these numbers extraordinary, writes Terry McCrann.
IOOF’s funding of its acquisition of MLC is a rip-off of retail shareholders sanctioned by ASIC and ASX, writes Terry McCrann.
We’ve never before seen governments ordering the destruction of businesses and jobs, right across the economy, like we have during this pandemic. Now the only thing clear for investors is that there is no “safe harbour” on the other side, writes Terry McCrann.
How dare the WA government, with implied approval from the federal government, legislate to deny Clive Palmer his right to seek and win damages against the state of Western Australia, writes Terry McCrann.
The Melbourne-Sydney route – the third busiest in the entire world, when of course the planes are flying – is absolutely pivotal to the survival of Virgin 2.0, writes Terry McCrann.
The administrators of failed airline Virgin have finally revealed the most closely guarded secret in downunder business, and it’s not good news for everybody, writes Terry McCrann.
BHP and Rio are bigger and older, but only Andrew Forrest’s Fortescue, with its lower-grade ore, has turned this time of recession into a handsome profit, writes Terry McCrann.
One single American company is now worth 50 per cent more than the entire value of all the shares of all the companies listed on our market, proving our future belongs to tech, writes Terry McCrann.
Alan Joyce and the Qantas frequent flyer program are the reason the airline will thrive and make the future of a rebooted Virgin Australia questionable, writes Terry McCrann.
Our four big banks are so similar. They have the same business profiles. They charge (and pay) the same interest rates. And they make the same mistakes, writes Terry McCrann.
BHP’s results have been shaped completely by the forces unleashed by the coronavirus and the mandatory government-ordered lockdowns, writes Terry McCrann.
Virgin Australia’s administrator has let slip in court that the airline’s sale is a done deal and can’t be undone. So it beggars belief he won’t reveal the details, writes Terry McCrann.
Many Australians have cut their superannuation balance down to zero and will essentially never get anywhere near a balance sufficient to replace the pension. Now the Prime Minister is hinting at stopping contributions at 9.5 per cent, so it’s time for us to have a real discussion about our super system, writes Terry McCrann.
The Victorian government said the state was heading for 20,000 new coronavirus cases a day — far more than than the peak of 1100 forecast in other modelling. So who to believe, asks Terry McCrann.
ABS data says the jobless rate was just 7.5 per cent in the first two weeks of July; Roy Morgan’s figure was 12.5 per cent through July. But the real figure was actually closer to 16.5 per cent, writes Terry McCrann.
Right now Australia’s Commonwealth Bank is quite probably the most profitable big bank in the entire world. Terry McCrann explains why.
Queensland billionaire Clive Palmer has sued the WA Government for a purported $28bn. In an outrageous abuse of power, its response is to legislate to prohibit him from winning, writes Terry McCrann.
Treasury forecasts Victoria’s Lockdown 3.0 will on its own drag Australia’s economy deeper into recession through the September quarter, writes Terry McCrann.
The little matter of some $6.8bn of debt that gets ‘vanished’ is a rather important item that was missing from the outline of the fantastic Virgin 2.0 and its glorious future that will emerge from the ashes of Virgin 1.0, writes Terry McCrann.
Original URL: https://www.heraldsun.com.au/business/terry-mccrann/page/17