Financial Services

Former prime minster Paul Keating says compulsory superannuation contributions may have to rise to 15 per cent to meet a looming blowout in the cost of caring for Australia's ageing population.

 The Australian market closed slightly lower, amid renewed scepticism about the Greek bailout deal and avoiding the US fiscal cliff.

The days of Australian banks posting returns on equity of 20 per cent or more are long gone, says Westpac chief executive Gail Kelly.

Australian stocks have opened weaker, with declines among mining-related sectors leading the broader market lower

US stocks have closed lower as fiscal cliff worries overshadow encouraging US economic data and investors shrug off Greece's revised bailout deal.

The Australian dollar has risen on news that European finance ministers have reached a deal on Greek bailout funds.

Economic data over the next few days will not only flesh out expectations for next week's national accounts, but also whether the central bank will cut the cash rate again.

The Australian share market has closed firmer as a Greek debt deal and stronger full-year profit guidance from vaccine maker CSL injected confidence.

Would-be homebuyers should take heart from the latest survey showing a steady increase in housing affordability in all states.

Australian stocks have opened firmer in quiet trading conditions as market players wait for the latest developments over Greece and the US budget.

Strong gains by Apple, Facebook and other key tech stocks sent the Nasdaq exchange higher on Monday while the Dow and S&P 500 sagged.

The Australian dollar is more than half a US cent higher ahead of a key European meeting to decide on a bailout package for Greece.

The Australian share market has closed slightly higher as investors await more movement on addressing Greece's debt and the so-called fiscal cliff in the United States.

Treasurer Wayne Swan has used parliamentary question time to raise the achievements of the Labor government after five years of power, saying it has been endorsed by the International Monetary Fund

Australia's big banks have actually helped competition in the mortgage market by refusing to pass on rate cuts in full, a new report says.

After spending much of the year as one of the strongest performing stocks on the ASX, Sirius Resources has become one of its most volatile.

The federal government should abandon plans to increase the compulsory superannuation guarantee for workers, an independent think tank says.

Australian stocks are firmer, with gains among metals companies leading the broader market higher.

US stocks solidly snapped a six-week slide on Friday, with gains topping three per cent, the best rise in five months.

The Australian dollar has moved slightly higher on a quiet day of trading, after the US markets were closed for the Thanksgiving holiday.

Australian stocks finished flat due to a lack of local and offshore leads.

The Australian share market has opened lower, after markets in the United States were closed for the Thanksgiving holiday.

European stock markets and the euro rose as traders welcomed strong Chinese manufacturing data and an Israel-Gaza truce, while a Greek bailout deal was put on hold ahead of an EU summit.

The Australian dollar is higher on further signs economic conditions in China, the world's second largest economy, are improving.

The Australian share market closed higher on Thursday, with positive manufacturing data out of the US overnight and China during the day promoting positive investor sentiment.

Finance Minister Penny Wong insists the federal government is sticking to its budget surplus strategy despite figures suggesting it's falling short of the target.

The Australian share market has broken back through the 4,400 point mark following a rise on Wall Street.

US stocks notched up modest gains in light trading ahead of the Thanksgiving holiday after Israel and Hamas reached a ceasefire agreement.

The Australian dollar has closed weaker, in line with a falling euro, after European finance ministers failed to agree on a rescue plan for Greece.

The Australian share market has closed lower, with investors unimpressed following a decision by European finance chiefs to delay a decision on fresh help for debt-laden Greece.

Australian stocks are weaker, with falls among the major resources-linked sectors leading the broader market lower.

US stocks have closed near breakeven, clawing back from losses after Hewlett-Packard reported a huge charge for an acquisition, offsetting fresh data signaling recovery in the housing market.