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$A plunges, global stocks routed

"Markets have to go through several stages and right now they're just holding their head and crying.": Wall Street is getting increasingly pessimistic about an imminent recovery.
Stephen Kirkland and Jeremy Herron

Australian assets were dragged sharply lower overnight as a rout in global markets accelerated - the Australian dollar falling to its lowest level since 2009.

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Market Indices

Last updated: January 16, 2016 - 9:15AM
Last updated: January 16, 2016 - 9:15AM
Last updated: January 16, 2016 - 9:15AM

Currencies

Last updated:
United States Dollar
0.6873 0.01%
Euro
0.6300 0.06%
British Pound
0.4821 0.02%

Comment & Analysis

Hoodlum Entertainment's Tracey Robertson at the company's Brisbane offices: 'I'm a producer, that's what we do. We just make things happen from nothing.'

How to break into Hollywood (as an Aussie)

Dominic White

A first US network series commission is a life-changing moment for any producer, as Tracey Robertson found out.

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In Depth

Investing in Uber? Who needs numbers

Social media was awash with anger over Uber's "surge price" algorithm.

Wealthy investors just got dibs on shares of the car-ridesharing company, but that doesn't mean they're getting to see its financials.

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Workplace

Business News Wire

Markets

US economy cracks amid global slowdown

Six of 13 major categories in the retail sales report showed declines in December from the prior month.
Victoria Stilwell and Shobhana Chandra

Figures on retail sales and manufacturing Friday showed the world's largest economy ended the year on a weak note, and the start of 2016 wasn't any better.

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Goldman tips return to oil bull market

While Goldman has flagged the potential for $US20 oil, it's sticking with its forecast of $US40 a barrel for the first half.
Grant Smith

Oil will turn into a new bull market before the year is out as the price rout shuts down sufficient production to erode the global glut, according to Goldman.

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Search Quotes & Charts

The Economy

Migration, climate top risks for Davos leaders

Economic fears, particularly for Chinese growth, and increasingly frequent extreme weather events are further red flags, resulting in a greater breadth of risks than at any time in the survey's 11-year history.

But China's turbulent markets, a tumbling oil price and Middle East tensions are likely to dominate corridor conversations at the World Economic Forum annual meeting next week.

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Retail

Banking & Finance

Citigroup tumbles as analysts query revenues

For the full year, the company reported adjusted net income of $US17.1 billion, the most since 2006, helped by cost cuts.
Dakin Campbell

Citigroup tumbled as much as 7.2 per cent after reporting fourth-quarter revenue gains that some analysts said came from too many one- time items.

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Mining & Resources

Goldman tips return to oil bull market

While Goldman has flagged the potential for $US20 oil, it's sticking with its forecast of $US40 a barrel for the first half.
Grant Smith

Oil will turn into a new bull market before the year is out as the price rout shuts down sufficient production to erode the global glut, according to Goldman.

Contains:

World Business

China

China stocks head for third week of losses

The Shanghai gauge's losing streak is the longest since the week ended October 2.
Kyoungwha Kim

Chinese stocks headed for a third week of losses amid lingering concern about the government's ability to manage the economic slowdown and yuan devaluation.

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Property Focus

Executive Style

Money

Small Business

Is your business toast? 

David Sonter's business burnt to the ground but he says "the gloves come off in a good way" between businesses which are usually rivals.
Caroline James

Disasters like bushfires, floods and hail storms can all destroy an unprepared business.

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Business Video