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Max Mason

Max Mason is a business reporter focusing on financial markets.

Markets

September shocker as Australian shares lose $90 billion

Max Mason and Sally Rose The Australian stockmarket is trading below the level at which it started 2014, after a shocker month wiped out all the gains of the first eight months of the year and took $90 billion off the value...

Currencies

Kiwi intervention drives Australian dollar down

The Australian dollar fell to its lowest point since early February.

Max Mason The Australian dollar fell close to a four-year low on Monday after the Reserve Bank of New Zealand confirmed it had intervened in currency markets last month.

Shares

Dismal week wipes $36b off ASX

Banks and miners suffered heavy losses on Monday.

Max Mason A selloff in the major banks and miners has dragged the Australian sharemarket to a six-month low.

Currencies

Australian dollar hits fresh eight-month low

The Australian dollar has fallen more than 1 per cent in the past day, while the New Zealand dollar has fallen close to 1.8 per cent.

Max Mason The Australian dollar has hit a fresh eight-month low after the New Zealand central bank talked down its own currency.

ASX

Westpac correction weighs on Australian shares

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Max Mason Selling pressure on the financial sector pared back early gains on the Australian sharemarket, as Westpac shares entered correction territory.

Shares

China not being factored into earnings expectations

China's residential property market is weakening, hurting demand for Australia's iron ore.

Max Mason Investors may be too optimistic about earnings expectations, with the market failing to price in the downturn in the Chinese economy.

Iron ore falls below $US80 per tonne

Fortescue CEO Nev Power is confident the company can pay down debt.

Max Mason and Peter Ker For the first time in more than five years, the price of iron ore has tumbled under $US80 per tonne as the Chinese government pours cold water on speculation that it will introduced aggressive...

Markets

Iron ore slumps below $US80 to new five-year low

In 2015, BREE forecasts iron ore prices to average US$97.

Max Mason and Peter Ker Iron ore has slumped below $US80 per tonne for the first time in more than five years, as the Chinese government dampens hopes of aggressively policy stimulus to fuel growth.

Markets

Pressure to continue on iron ore

The price of iron has fallen for four straight days.

Max Mason Iron ore finished last week at a new five-year low as demand for steel in China’s property sector remains weak and supply shutdowns are yet to trickle through to the spot price.

ASX

Australian shares end down for fourth week

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Max Mason A rally in bank stocks on Friday was not enough to lift the Australian sharemarket out of its doldrums as stocks fell for the fourth week in a row.

Markets

Banks lead shares falls as wave of corrections hit the market

ASX

Max Mason ANZ’s entry into correction territory this week has highlighted that any shine from earnings season has come off the market.

Takeovers

Can mergers and takeovers surge on at this rate?

Rival takeover bids for Penfolds maker Treasury Wine Estates and an international offers for gas distributor Envestra and property group Australand have kept investment bankers busy.

Max Mason Australian mergers and acquisitions have surged this year, thanks to the cheap cost of capital, low volatility and investors’ thirst for growth, but opinion is divided whether conditions will...

Netflix secures Australian streaming rights to Batman prequel series 'Gotham'

A scene from the first episode of the highly anticipated Batman prequel <i>Gotham</i>.

Max Mason Providing the biggest hint yet that Netflix is preparing to launch in Australia, the US-based company has secured local streaming rights to the highly anticipated superhero television series Gotham.

Currencies

Australian dollar hits six-month low

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Max Mason Australia's dollar fell to its lowest level in almost six months after data showed growth in Chinese industrial production missed estimates, sparking concern that the world's second-largest economy...

Mining

Gina Rinehart says cut red tape 'urgently' to counter iron ore slump

The government needs to act to help reduce the costs placed on Australian miners, who are reeling after iron ore prices plunged to a five-year low, the mining billionaire says.

Max Mason Mining magnate Gina Rinehart is urging the Australian government to cut red tape as the mining sector grapples with iron ore prices plummeting to a five-year low.

Mining

Goldman Sachs calls 'the end of the Iron Age'

Iron ore prices are unlikely to recover amid weak demand outlook in China and oversupply, Goldman Sachs says.

Max Mason Recovery unlikely: With miners battling iron ore prices at five-year lows, up to 235 million tonnes of iron ore capacity is expected be taken out of the market in the next 18 months.

Media

Foxtel profits weaken its fight against internet pirates, CEO admits

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Max Mason and David Ramli Foxtel chief executive Richard Freudenstein admits his company’s profitability has made it harder to argue that internet pirates are killing the media industry, but says the livelihood of...

ASX

Australian shares gain ground as eyes turn to central banks

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Max Mason The Australian sharemarket snapped a four-day losing streak on Tuesday, led by a rally in the miners and the big banks, but a dip in business confidence kept a lid on investor enthusiasm.

Economy

Why GDP doesn't tell the full story

Much of the benefit of the third phase of the current export boom will be felt overseas, says Saul Eslake.

Max Mason The resources boom helped Australia avoid recession during the global financial crisis, but the ripple on effect has created a two-speed economy where traditional measures of growth no longer give...