Wealth manager AMP has posted another year of profit growth as the consolidation of its $4 billion purchase of AXA Asia Pacific coincides with improving financial markets.
Share market operator ASX's first half profit has fallen by 2.5 per cent due to lower investor activity in the first three months of the 2012/13 financial year.
US stocks have piled up losses after Federal Reserve minutes showed divisions over asset purchases, with some officials suggesting to wind them down before the jobs market picks up.
The Australian dollar is stronger against the greenback after statements from New Zealand's central bank led currency traders to move their money across the Tasman.
The Reserve Bank of Australia is waiting to see how recent interest rate cuts flow through the economy before deciding if it needs to cut the cash rate further in 2013.
Gold has moved lower, with volumes easing as US markets closed for the President's Day holiday, while a lower euro and flat European shares also hurt investor interest.
Bendigo and Adelaide Bank says interest rates on deposit accounts may be about to fall as other sources of funds become cheaper and more accessible for banks.
Economists from two of Australia's largest banks say several more interest rate cuts are needed to support the economy in 2013 as the boom in mining investment peaks.
Federal Treasurer Wayne Swan is urging the Group of 20 major economies to close tax loopholes that allow profitable multinational companies to exploit differences in taxation regimes to avoid tax.
US stocks have traded flat despite the excitement from two giant M&A deals, the merger of American Airlines and US Airways, and Berkshire Hathaway and 3G's takeover of ketchup maker Heinz.
The Australian dollar marked time during the afternoon session after traders earlier pushed it to a fresh one-week high in response to brighter consumer confidence data.
