Live: Building company collapse exposes private credit issues

live Markets live updates: Building company collapse exposes private credit issues, oil up on Middle East tensions Australia's economy relies on construction and the high-profile collapse of the Bathla Group is asking big questions about the sector. Follow the day's financial news and insights from our specialist business reporters on our live blog. Disclaimer: this blog is not intended as investment advice. Live updates New: Filters Choose what information you see below by using filters Struggling property developer Bathla Group swings the axe Tough times for embattled Sydney property developer Bathla Group. Here's a great read from colleagues Lin Lin and Alex Turner-Cohen about yesterday's developments. Here are the key lines: - The debt-ridden Bathla Group has reached a short-term funding agreement with five of its lenders, which will continue its survival for another two weeks. - The property developer's administrator, Teneo, says this funding will allow construction to continue on those lenders' construction projects. - However, construction on other projects will be suspended today, resulting in about 213 employees being stood down. Market snapshot - ASX 200 futures: -0.05% to 8,992 points - Australian dollar: +0.1% to 72.16 US cents - Dow Jones: -0.5% to 53,414 points (Friday) - S&P 500: -0.4% to 7,718 points (Friday) - Nasdaq: -0.3% to 26,506 points (Friday) - FTSE: -0.1% to 10,882 points - EuroStoxx: flat at 649 points - Spot gold: -0.5% to $US4,404/ounce - Brent crude: +1.1% to $US97.31/barrel - Iron ore: -+0.1% to $US99.57/tonne - Bitcoin: -0.5% to US$79,200 Prices current around 7:30am AEDT. Live updates on the major ASX indices: Key Event Let's get going Hello, I'm Daniel Ziffer from the ABC business team, and I'll be taking you through the morning on our business, finance and economics blog. Wall Street indices were closed for the Labour Day holiday, so we don't have new numbers for you. On Friday, the blue-chip Dow Jones of 30 mega-companies, including Boeing and Visa, was -0.5% to 53,414 points. The broader S&P 500, which covers 500 of the largest-listed companies in the US, -0.4% to 7,718 points. The tech-heavy Nasdaq was -0.3% to 26,506 points. Our market is set to fall marginally, with the ASX 200 futures index tipping a loss of -0.05% or 5 points to 8,992 points when the market opens. There's lots to get to, all of it news, analysis and information and none of it financial advice. LoadingLet’s get started! [Image text:] ASX STOCK BID OFFER LAST VOL HIGHTECH METAL 0.205 0.255 10.000 HIGHFIELDRESOU 0.185 0.205 0.195 HILLGROVERESOI 0.035 0.036 0.035 IANGES GROUP 0.965 0.970 0.970 0.000 0.050 0.000