MARKETS

ANZ warns industry to expect wave of bankruptcies in North America

ANZ analyst Daniel Hynes did not beat around the bush in his latest commodity report, saying he expects to see a "significant fall" in US oil production as the collapse of the oil price "spreads across the industry."

paul hunt

ANZ warns industry to expect wave of bankruptcies in North America

Hynes released his analysis the same day his employer dropped its bombshell of a quarterly which noted a 50% slump in profits and a debt exposure to upstream oil and gas in the region of $8.6 billion. ...

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