OIL prices rebounded in Asian trading today as traders kept a close watch on a storm moving toward the Gulf of Mexico and key oil installations, analysts said.

ELECTRONICS and furniture retailer Harvey Norman has reported a 12 per cent fall in annual profit but says it is in a strong financial position.

AUSSIE Home Loans founder John Symond is offloading 33 per cent of the mortgage broking business to CBA.

A COMBINATION of a slowing economy, deteriorating business conditions and tight credit markets will lead to a rate cut next week.

FAIRFAX printers say they won't cross a picket line if striking journalists turn up at their work.

AUSTRALIA'S appetite for credit continues to wane following interest rate hikes earlier this year, with the housing sector taking a big hit.

THE global credit crisis has come home with a vengeance, wiping more than $4.5 billion from the profits of Centro and Allco.

ABC Learning Centres says it won't be able to release its annual results today as planned.

ALLCO Finance chief executive David Clarke says the company "deeply regrets" the loss of shareholder value that led to a huge $1.713 billion loss in annual profit.

STRUGGLING diversified industrial group Nylex has reported an annual net loss of $18.8 million, largely blaming a downturn in the market for rainwater tanks.

CENTRO Properties Group has posted a net loss of $2.06bn, but says it's working on a restructure to stabilise the business.

CONTINUED strong demand from China for raw materials is likely to stop the RBA from granting home owners two consecutive rate cuts.

NIB Holdings' annual profit has plummeted 99 per cent following its recent demutalisation and listing, and says it remains positive about its strategic direction and growth prospects.

SPECULATION continues to grow that childcare chain ABC Learning is poised to collapse, but parents have been urged not to panic.