Australia Inc starts to feel Iran war fallout, raising stagflation risk [Yahoo! Finance Canada]
QANTAS AIR LTD S/ADR NEW (QABSY)
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Source: Yahoo! Finance Canada
profit warnings from two top companies and a crash in business sentiment pointing to ?pain from rising prices, raising the risk of stagflation. The country's top airline Qantas Airways and second largest lender ?Westpac Banking Corp flagged their earnings could be hurt by soaring fuel prices and the impact on customers, as feared by the country's central bank. "With the ?supply shock from the energy market disruption expected to result in higher inflation and higher interest rates, an expected slowing in economic growth will create a more challenging environment for some customers," Westpac said. The updates are some of the clearest indications yet on how the Middle East conflict and the resultant fuel crisis are impacting the bottom lines of companies in Australia. They came the same day as ?surveys showed business confidence and consumer sentiment ?have slumped nL1N40X01K and Reserve Bank of Australia Deputy Governor Andrew Hauser said the country could be facing "the centra
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