The company reported an impressive result in the 9 months to 31 March, with its revenue shifting up 18% to $1.25 billion during that period, compared with the prior comparable one.

Earnings numbers – that is, operating EBITDA (earnings before interest, taxes, depreciation and amortization) excluding associates – were also in the green, at $734 million: this being an increase of 19%.

In the 3 months ended March 31, REA saw its revenue grow by 12% for a figure of $374M: bolstered by double-digit revenue rises across Residential, Commercial, Financial Services and India. EBITDA excluding associates also rose by 12% to $199M during this period.

REA Group CEO Owen Wilson said demand for housing in Australia continued to trend positively, supported by a recent decision by the Reserve Bank.

“REA delivered a strong third quarter result underpinned by double-digit yield growth as wecontinued to drive increased value for customers across our premium products,” he said.

“The first interest rate cut in 4 years, combined with expectations of more to come, spurred buyer demand and supported house price growth across the country.”

REA shares have been trading at $250.08.

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Donald Trump’s announcement of levies against multiple countries last Wednesday kicked off a trend of investor uncertainty, wiping US$2.5B from Wall Street as threats of retaliation trickled in. By Friday, China had made good on the threat – hitting US goods with a 34% tariff (following Trump’s bump up to 54% of the levy against Chinese goods), and Wall Street inevitably ended the week in a panic.

The S&P 500 ended Friday’s session with a slump of 6%, while the Nasdaq dropped 5.8%, setting up Australia’s bourse for a bloodbath on Monday. On that day, the ASX200 opened with a slump of 6.2% – representing the single worst intraday fall for Australian markets since the beginning of the Covid-19 pandemic.

Throughout this week, global markets, including the ASX have been up and down like a fiddler’s elbow, as Trump destabilised things again by promising to boost the levy against China to 104%, and then calming them down by retracting tariffs against all other countries – for the time being at least.

This provoked a euphoric reaction on Wall Street on Wednesday, with the S&P 500 marking its biggest gain in five years – rising by 9.5%, while the Dow Jones picked up its biggest gain since 2020, with a jump of 7.9%, and the Nasdaq zoomed up 12.1% – its largest one-day rise since 2001.

However, it is understood that the President’s walking back of his tariff announcements was provoked by a shocking development: investors’ retreat from US government bonds, which indicated a lack of faith in the stability of the world’s largest economy. And alongside that, the R word is still in the air.

With all that in mind, it’s worth looking back at where the global economy has slumped and recovered in the past.

To find the first contemporary example of a global financial crash, we have to go back to October 1987 – specifically Monday 19 October, when the Dow Jones Industrial Average collapsed by 22.6%, this marking the biggest one-day stock market drop in history, and the most significant downturn since the Great Depression (1929-1939).

This event, dubbed ‘Black Monday’ was largely caused by the overrepresentation of foreign investors in the US financial system, who had been behind an escalation in stock prices in the lead-up to the crash. Alongside this, the crash was accelerated by the recent introduction of ‘portfolio insurance’ by US investment firms; these involved the large-scale use of options and derivatives which contributed to the crash.

What was interesting about this crash is that the period leading up to it – the first half of 1987 – had been marked by a bull market, in which the DJIA had gained 44% in 7 months, prompting murmurs of an asset bubble.

However, in the background, economic growth was slowing, while inflation was on the uptick, and US exports were under pressure due to the country’s strong currency. After the Commerce Department announced a larger than expected trade deficit on 14 October, the dollar fell in value, interest rates rose and there were heightened expectations that the Federal Reserve would tighten its policy.

The week which followed saw several markets begin to post large daily losses, followed by an incident of ‘triple witching’ (when monthly expirations of options and futures contracts occur on the same day) on Friday 16 October, which occurred alongside selloffs, with the DJIA losing 4.6% by the end of the session. The next day, Treasury Secretary James Baker sought to narrow the growing trade deficit by threatening to de-value the US dollar, and by the time the bell rang on Monday, Asian markets had begun to tumble.

The reverberations were felt around the world, with global bourses experiencing sharp losses (with the worst being New Zealand, which plunged by 60%), and the Financial Times 100 Index in London falling by 25% between 19 and 23 October, while the Nikkei Dow Jones in Tokyo was down 25%.

Indeed, the lesson of this crash was the importance of watching the interconnectedness of world markets, and this could be seen in the behaviour of investors who stayed up late to watch how the Japanese market’s performance might provide clues to what would happen the next trading day on Wall Street.

It was, in the end, rectified mostly by the US Federal Reserve’s decision to pump liquidity into the market, as announced on 20 October.

More recent was the economic turmoil which goes by several names, including the Great Recession and the Global Financial Crisis (better known as the GFC in Australia), which saw the most severe economic downturn since the Great Depression, and the longest recession since World War II.

It was precipitated by a collapse in the US housing market, starting in early 2007, when mortgage-backed securities (MBS) tied to US real estate (plus their derivatives) slumped in value, causing a liquidity crisis which grew throughout the year, spreading to global institutions.

Behind this was a trend which had been growing throughout the early noughties, of banks issuing consumer credit at a lower prime rate (the interest rate charged to ‘prime’, low-risk customers), as well as issuing it to those with a riskier financial profile, at higher interest rates.

Consumers spent the cash on a range of goods, but especially houses. This was fine so long as housing prices remained high, but by 2005, they began to fall, and by June 2006, the Fed had raised interest rates to 5.25% (from 1.25 in June 2004), meaning buyers experienced increasing difficulty in paying back their loans. Unable to sell, they often ended up owing more than their home was worth.

What connected this to US markets was the growing practice of securitisation, in which banks tended to parcel hundreds and occasionally thousands of subprime mortgages together with more stable forms of debt, selling them as securities (bonds) to other banks or investors. Those associated strongly with sup-prime mortgages became known as MBS. As housing prices began to fall, this impacted the latter’s value.

With multiple subprime lenders beginning to file for bankruptcy, and investment banker Bear Stearns needing a bailout in early 2008, the crisis continued to build, culminating in the bankruptcy of Lehman Brothers – the United States’ fourth largest investment bank – in September that year.

This was the iconic moment of the recession, and it sparked slumps on numerous stock exchanges around the world, many of these falling by around 10%. The S&P 500 Index ended the year 2008 almost 40% lower, its largest yearly fall in history. 

The solution was a new and tentative policy from the Federal Reserve called quantitative easing (QE), which involved injecting liquidity into the system to maintain credit flows. This was introduced to the US in early 2009, with Europe and Japan soon following suit.

Other countries took a different route: such as China, which pumped US$600 billion into its economy via a spending program, while interest rates around the world were also reduced, often to zero or below.

Australia was another which chose the spending approach, with the government sending cheques valued at $900 to millions of households, and providing wider subsidy programs. As a result, the country was able to avoid entering recession during the period, and unemployment never tipping beyond 5.8% (compared to 10% in the US).

While all this may appear behind us, it is worth noting that talk of an escalating US-China trade war continues to spur uncertainty, with the ASX200 turning red again on Friday (down 1% in the afternoon), so there may be another turn in the rollercoaster yet to come.

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The acquisition – which was made for A$30 million – will facilitate the acceleration of Findi’s growth strategy by two years, providing it with around 25% its consolidated revenues from digital payments, post-completion.

Founded in 2010 by Amit Nigam – also founding executive of SpiceMoney – BankIT works on the premise of leveraging technology via an extensive Merchant network to deliver affordable and user-oriented finanical solutions to allow every Indian to manage their finances in a seamless and secure manner.

Mr Nigam aims to continue driving BankIT’s growth following the Findi acquisition. For the latter company, this deal will mean that Findi is now the only Pan-Indian ATM operator with a truly nationwide digital business.

Findi Executive Chairman Nicholas Smedley described the acquisition of BankIT as a transformational step change for Findi on its pathway to becoming an Indian payments bank.“This acquisition is a gamechanger for Findi and positions us to play a pivotal role in India’s transition into digital banking over the next 5 to 10 years, further driving financial inclusivity and reshaping the financial landscape in India,” he said.

“While successfully building our flagship FindiPay digital platform, we have been pursuing acquisitions such as this to enhance the depth and breadth of FindiPay to position Findi for further strong growth.”

Findi shares moved up following this news, and by 16:20 AEDT, they were trading at $4.62 – a rise of 22.87% since the market opened.

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Negotiation is a vital skill across all aspects of life, whether you’re an employee, business owner or investor.

It’s often seen as confrontational, but at its heart, it’s about reaching common ground and achieving beneficial outcomes for all parties.

Going into any negotiation without preparation can leave you at a disadvantage.

You don’t get what you deserve; you get what you negotiate.

Knowing your worth, understanding the other party’s perspective and having clear objectives is crucial.

Effective negotiation often relies on controlling the framing of the conversation.

Understanding how to guide discussions and reduce tension can help you steer the negotiation in the right direction.

Successful negotiation is not about getting everything your way—it’s about compromise.

Be ready to concede in some areas to achieve your primary goals.

We share personal experiences and strategies they’ve used in negotiations.

From knowing your numbers to understanding the motivations of the other party, these real-world examples demonstrate the practical side of negotiation.

For more Info about Money and Investing you can go to the podcast; The Wealth Playbook: Your Ultimate Guide to Financial Security and The Wealth Playbook on Audible.

Disclaimer: Wealth Magnet Pty Ltd (ABN 52 618 868 830) trading as Australian Investment Education is a Corporate Authorised Representative (CAR no. 1255231) of Grange Financial Services Pty Ltd (AFSL No. 488609).

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

Heading into the afternoon, the financial sector moved ahead of utilities as the best-performing sector, registering gains of 1.50% on the ASX.

The story of the day was Commonwealth Bank of Australia (ASX:CBA), which broke its all-time record in intraday trade, reaching a share price of $143.50 in the early afternoon, before readjusting slightly down from that number. CBA’s previous record was $143.38.

ANZ was also performing well: with a 1.44% rise in its share price, which was $31.70 at 13:24 AEST, while Westpac was up 1.39% to $32.02 and National Australia Bank (NAB) had risen 0.95% to $38.87.

The rally across Australia’s financial sector boosted the overall performance of the ASX200, which had gained nearly 0.60% to 8029.20 by 13:28 AEST.

The utilities sector had gained 1.41% at the same time, followed by the discretionary sector – which was up 1.29%, staples (up 0.96%) and real estate, which had listed 0.93%.

Energy was the worst-performing sector, being down 1.68%, while materials were down 0.65%, information technology was down 0.43% and telecommunications were down 0.13%.

IAG’s net profit after tax (NPAT) came in at $898 million – a 7.9% lift from the year before – while net earned premiums were up 11%, and investment income on shareholder funds was up 53% compared to FY2023, at $286 million.

Insurance profit registered significant growth, coming in at $1,438 million – a 79.1% jump from the previous year, with a reported margin of 15.6% (in FY2023, this was 9.6%).

IAG said a key factor in this sector was a lower reading for ‘natural peril costs’: these were $983 million in FY2024, which was $115 million below the allowance for this ($1098 million).

The company’s final year dividend 17.0 cps (cash per share), bringing IAG to a 27 cps for the whole year (up from 15 cps in the 2023 fiscal year).

Managing Director and CEO Nick Hawkins said the main factors underpinning these figures were growth in gross written premiums, stronger investment returns, and less volatile weather in Australia and New Zealand compared to previous years.

“We have previously said inflation, increasing weather volatility, and rising reinsurance costs were major factors affecting customer premiums,” he said.

“We are beginning to see some signs of inflation easing, and our long-term reinsurance agreement announced in June is expected to reduce year-on-year volatility from extreme weather events and help stabilise costs for our customers over the longer term.

“We recognise premium increases are affecting customers, and we’ve bolstered our support for those impacted by cost-of-living pressures: our specialised customer care teams are helping those in financial hardship by finding tailored solutions and providing extra support.”

IAG shares have been trading at $7.44.

BHP had previously proposed a takeover of Anglo American on April 16, but this too was rejected.

The second offer – to be completed through a scheme of arrangement – would have offered Anglo American shareholders 0.8132 BHP shares for each ordinary share they owned in Anglo American – meaning they as a group would take on an ownership of around 16.6% of the combined group created as a result of the takeover.

This was up from an ownership offer of 14.8%- made in the first proposal – which shareholders would have held in the ‘combined group’.

In the revised offer, Anglo American would also distribute ordinary shares in Anglo American Platinum Ltd and Kumba Iron Ore Ltd – companies in which it has a controlling stake – to shareholders according to their effective interest in these.

This indicated that BHP did not itself wish to take ownership of these two companies.

BHP Chief Executive Officer Mike Henry said the revised proposal would have delivered wins to his company and Anglo American.

“We are disappointed that this second proposal has been rejected,” he said.

“The revised proposal represents a 15% increase in the merger exchange ratio and increases Anglo American shareholders’ aggregate ownership in the combined group to 16.6% from 14.8% in BHP’s first proposal.

“BHP and Anglo American are a strategic fit and the combination is a unique and compelling opportunity to unlock significant synergies by bringing together two highly complementary, world class businesses.

“The combined business would have a leading portfolio of high-quality assets in copper, potash, iron ore and metallurgical coal and BHP would bring its track record of operational excellence to maximise returns from these high-quality assets.”

BHP Group has been trading at $43.25