"Negative equity" a risk if housing correction deepens, Reserve Bank warns

More major falls in real estate values particularly in Sydney and Melbourne could push some borrowers into "negative equity", the Reserve Bank has warned. 

In its six-monthly Financial Stability Review released this morning, the RBA says the deepening housing correction has the potential to stoke negative equity - where the outstanding balance of a loan taken out to purchase real estate exceeds the value of a property it is secured against. 

ABC's Peter Ryan says the RBA's warning will send jitters among borrowers who bought at the top of the market.

Business groups jaded by political spin but hope for big picture reform policies

Business groups are hopeful but realistic about a big picture policies on economic reform from the two major parties. 

ABC's Peter Ryan speaks with chief executives from the Business Council of Australia; Australian Chamber of Commerce & Industry and the Australian Industry Group.

Business Council chief Jennifer Westacott warns Labor, Coalition to avoid election "race to the bottom"

With the election now called, big business is warning both major parties to resist a "race to the bottom" where critical policies fall off the table to make way for short term political gain.

The Business Council of Australia has released its pre-election "to do" list that includes creating more jobs, lifting wages, lowering taxes and tackling surging energy prices. 

Business Council chief executive Jennifer Westacott speaks with ABC's Peter Ryan.

Crown Resorts shares plunge after Las Vegas suitor Wynn pulls deal

Crown Resorts shares plunged more than ten percent after a potential suitor Wynn Resorts abruptly terminated its proposed $10 billion takeover deal. 

In a brief statement, Wynn said the deal was off because it had been prematurely disclosed to the Australian sharemarket. 

ABC's Peter Ryan says there is little doubt that James Packer will be seeking another deal and that his plans to sell down assets continue.

Packer casino sale shelved as Wynn Resorts pulls $10b deal

Wynn Resorts has abruptly terminated its proposed $10 billion deal by buy James Packer's Crown casino empire. 

In a brief statement, Wynn said the deal was off because it had been prematurely disclosed to the Australian sharemarket. Crown shares rocketed 21 percent on news of the potential takeover. 

Here's my analysis from AM

James Packer cashing in his chips? Crown confirms talks underway for possible $10b sale

Crown Resorts confirms "confidential discussions" are under way with the Las Vegas-based Wynn Resorts for a possible $10 billion sale. 

ABC's Peter Ryan says the speculation is fuelled by James Packer's retreat from corporate life after standing down from all Crown positions last year when he revealed mental health issues.

Election race for economic credibility against housing, wages background

A critical platform on the yet-to-be-called election will be economic management. 

With the federal budget out of the way, economists are now focussing on how the two major parties will confront the big challenges - including the housing correction, weak wages growth and a slowing global economy. 

ABC's Peter Ryan speaks with market economists Paul Bloxham and Sarah Hunter.