The state government has trimmed its surplus forecast for the current financial year by $56 million as it lifts spending to meet the needs of an expanding population while revenue from mining royal
Ratings agency Moody's has downgraded its outlook for Western Australia's AAA credit rating to negative from stable because of the state's mounting debt.
US stocks swung higher on Thursday as the market appeared to show optimism about a potential deal in Washington to prevent the economy from going over the so-called fiscal cliff.
Australia's ability to repay its debt will be unaffected by the government's admission it's unlikely to deliver a budget surplus this financial year, a global ratings agency says.
The Australian dollar has finished the local session below 105 US cents for the first time in more than a week as the currency loses some of its safe-haven lustre.
The Australian share market has continued its stellar run, finishing higher despite falls on Wall Street amid caution about the outcome of the US budget talks.
The Australian share market has opened slightly lower following a fall on Wall Street, with investors cautious about the ongoing talks to avoid the US fiscal cliff.
The Australian share market closed at its highest level for the year with investors betting on US policymakers to back a deal to avert $US600 billion in federal tax hikes and spending cuts.
The Australian market has opened higher amid signs US politicians are willing to compromise to avoid the world's largest economy falling off the fiscal cliff.
Jolimont-based computer and audio visual rental company Hire Intelligence has applied to be delisted from the ASX, citing a lack of liquidity, a small amount of trades and high listing costs as rea
The Australian market finished on a 16-month closing high as progress with the US fiscal cliff negotiations led to across the board gains for local stocks.
The Reserve Bank of Australia cut the cash rate in December to support underperforming sectors of the economy, including housing construction and retail, ahead of the expected peak in the mining in
US stocks rose on Monday amid Wall Street hopes of a political compromise that would prevent the economy from going over the "fiscal cliff" in two weeks.
A meeting of federal, state and territory treasurers wound up quickly and without any major agreements on the main agenda items of the GST and inefficient state taxes.
ANZ's economists are predicting the cash rate will be cut to two per cent by the end of 2013 and suggest it may be a good idea for the government to step back from its budget surplus plans.
