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Weaker commodities hurt trade surplus
Falling commodity prices and growing demand for imports saw Australia’s trade surplus narrow in October. The trade surplus narrowed to $1.595 billion in October compared to $2.249 billion for the...
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Euro crisis will affect Australia: RBA
THE Australian economy will inevitably suffer spillover effects from the European government debt crisis, the Reserve Bank of Australia (RBA) says. However, Australia is well placed to withstand the...
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Online sales a concern for retailers
The Dun & Bradstreet national business expectations survey, released on Tuesday, indicated sales and profit expectations were down year-on-year, despite the sector showing a strong performance in...
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IMF to stress test Australian banks
The IMF has targeted the financial systems of Australia and 17 other countries to undergo rigorous testing as part of a mandatory five-year check-up of the world’s top 25 financial sectors. “Amid the...
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New lenders would be welcome: Wayne Swan
TREASURER Wayne Swan would welcome new foreign lenders to the Australian loans market, saying more competition would mean better deals for borrowers. Responding to reports Japanese banks are...
View ArticleNSW in the economic slow lane: opposition
NSW is “spluttering along” at the back of a three-speed economy because of Premier Barry O’Farrell’s lack of leadership, state opposition leader John Robertson says. According to CommSec’s latest State...
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IR umpire approves Qantas engineer deal
THE industrial relations umpire has signed off on a workplace agreement between Qantas and its engineers. Fair Work Australia on Monday said it had endorsed the agreement, after a long-running dispute...
View ArticleInterest rates decision a setback for Gillard
PRIME MINISTER Julia Gillard’s hopes of kicking off a year of economic debate with some good news have been dealt a blow after the central bank defied expectations and left interest rates on hold. Both...
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Aussies loosen the purse strings for Valentine’s love
AUSTRALIANS are beginning to loosen the purse strings and it’s all in the name of love. As consumers pay down debt and squirrel away record amounts of money, it seems they are also prepared to splash...
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10,000 banking jobs to go by 2014: FSU
OVER 10,000 jobs could disappear from the banking sector in as little as two years as the big four continue to axe positions while they lift interest rates independently of the Reserve Bank. The...
View ArticleRate cut calls grow ahead of RBA meeting
BUSINESS and unions are urging the Reserve Bank of Australia (RBA) to cut the official cash rate when its board meets on Tuesday. However, financial market economists generally expect the central bank...
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Aston investors tick Whitehaven takeover for Tinkler
AUSTRALIA’S youngest billionaire, Nathan Tinkler, became substantially richer after shareholders approved a friendly takeover of his Aston Resources by Whitehaven Coal in a two-part deal to create a...
View ArticlePreview of next week’s Australian economic data
A preview of next week’s Australian economic data, May 7 to May 11: AUSTRALIAN BUREAU OF STATISTICS (ABS) RETAIL TRADE Due: Monday Period: March Market forecast: Australian retail spending to rise 0.2...
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Interest rate cut less likely after stronger data
A surprise bounce in retail sales and building approvals may reduce the likelihood of further interest rate cuts, economists say. Retail sales climbed 0.9 per cent in March, substantially higher than...
View ArticleConsumer credit options grow in Australia
Australian payday lending sector could be worth $2bn, according to report The payday loan industry in Australia is growing rapidly with new companies springing up across the country that are home-grown...
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BHP boss on Britain’s top-five pay list
BHP Billiton chief executive Marius Kloppers has rounded out a list of Britain’s top-five earners as published by the Financial Times newspaper. The 49-year-old boss of the world’s largest mining...
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Aussie markets relief at Greece election result
THE Australian government has intensified its rhetoric on Europe, warning policymakers not to waste an opportunity to ease its sovereign debt problems after a better than expected election result in...
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Billabong to fend off more bids
STRUGGLING surfwear retailer Billabong International is expected to fend off more takeover bids after its share price dived to its lowest level on record. More than a third of Billabong’s stock value...
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Fortescue expands capacity of Christmas Creek mine
FORTESCUE Metals Group has commissioned a second ore processing facility at its Christmas Creek iron ore mine in Western Australia’s Pilbara region. Fortescue said the processing facility will enable...
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New Zealand House welcomes transatlantic friends
NEW ZEALAND business people had the chance to mix and mingle with counterparts from Australia, Canada, Britain and the United States at a cocktail function on 24 September 2012. Held in the Penthouse...
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World Bank ranks Aust as 10th easiest place to do business
Australia is ranked 10th in the world for the ease of doing business having jumped five places in the past year. In the World Bank Group’s Doing Business 2013 report released on Tuesday a survey of...
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Aussie banks post combined annual profit of $23 billion
THE big four banks have reaped a collective annual profit of $22.8 billion, the same as winning the Melbourne Cup more than 6,300 times over. But they need to streamline their businesses if they are...
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Businesses wrong on Asia strategy: Henry
AUSTRALIA’S future with China does not lie in mining and businesses focused on cutting costs to compete in Asia do not have a sustainable strategy, Asian Century White Paper leader Dr Ken Henry says....
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The Rising Star: What awaits China’s new leader?
BOTH the world’s leading economies have experienced a very different kind of political process in the last few weeks. America decided to stick with the same leader for another 4 years via the ballot...
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Kathmandu appoints former Tesco exec Christine Cross as new director
MS CROSS is currently a director of supermarket giant Woolworths Ltd and has had extensive experience in the international retail and consumer goods sector. She was formerly responsible for Own Brand...
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ANZ investors approve $10m pay packet for CEO Mike Smith
SHAREHOLDERS have backed ANZ boss Mike Smith’s $10 million-plus pay packet, despite some investors labelling it excessive. Mr Smith dodged waiting media on Wednesday after shareholders overwhelmingly...
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Qantas-Emirates deal gets ACCC OK
CHRISTMAS has come early for Qantas, with the competition watchdog approving its alliance with Emirates, but the struggling Flying Kangaroo did not get all the yuletide presents it wished for. The...
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NAB could offload UK banks to Santander
NATIONAL Australia Bank may be able to finally offload its troubled British banking division amid speculation that Spanish giant Santander is considering making a STG2 billion ($A3.04 billion) offer....
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Royal hoax call causes 2DayFM’s owners $2.2m loss in profits
SOUTHERN Cross Austereo (SCA), owners of the 2DAY FM radio station that prank-called nursing staff treating the Duchess of Cambridge, has announced a 10% fall in revenue and a 52% fall in profits. As...
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Slater & Gordon’s profits to stimulate further UK expansion
AFTER releasing encouraging revenue and profit figures, Slater & Gordon, one of Australia’s most successful and well-known plaintiff law firms, are looking to cement their recent expansion into...
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