Financial Services

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.

The Australian stock market has opened mixed, with Westpac among the big early movers after reporting a fall in full year net profit.

The Reserve Bank of Australia might still keep its finger off the interest rate button despite a private sector survey showing slower growth in consumer prices.

Westpac has become the second of the big four banks to post a fall in full year profit, with the tax implications of its takeover of St George causing a 15 per cent fall to $5.97 billion.

The Australian share market finished flat despite positive leads from overseas and weakness in the banking sector.

The Reserve Bank of Australia's six-year Melbourne Cup streak is set to continue, economists predict.

The Australian market has opened higher, led by gains on Wall Street and higher commodity prices.

Some buoyant data on consumer confidence and the manufacturing sector gave Wall Street a solid bump higher after Wednesday's flat reopening following the Hurricane Sandy shutdown.

Treasurer Wayne Swan says the latest jobless figures from Europe are a stark reminder of the difficult conditions in the global economy.

The Australian dollar is almost level, as a weak share market performance puts a lid on any gains it makes on the back of strong Chinese manufacturing data.

The Australian share market has closed more than one per cent lower, despite encouraging manufacturing data from China.

The Australian share market has opened lower as investors consider the impact of the massive storm in the United States on the world economy.

US financial markets have re-opened after a historic two-day closure forced by superstorm Sandy, with the interruption having little impact on share prices themselves.

The Australian dollar is higher, as traders focused on next week's central bank board meeting and the decreasing expectations that there will be an interest rate cut.

The Australian share market closed higher after gains across most sectors despite low volumes of trading.

The Australian market opened higher following surging European markets and higher commodity prices.

National Australia Bank's full year net profit dropped 22 per cent to $4.08 billion due to millions of dollars in costs from its troubled operations in the United Kingdom.

European stock markets and the euro have rebounded as investors cheer positive company earnings and react to news of thousands of job cuts at Swiss bank UBS, despite a lull in trading caused by the

The Australian market finished slightly higher as the closure of Wall Street due to superstorm Sandy led to subdued local trading.

Commonwealth Bank chairman David Turner says the bank expects demand for credit to remain subdued this financial year amid economic uncertainty around the world.

The Australian market has opened marginally higher amid quiet trading with Wall Street closed because of Hurricane Sandy.

US stock markets are closed as Hurricane Sandy nears landfall on the heavily populated east coast and parts of New York City's financial district were evacuated.

The Australian dollar has been boosted by better than expected US economic growth figures that helped turn around market sentiment.

Internet service provider iiNet has secured $330 million in debt finance with a syndicate comprising Australia's big four banks.

The Australian share market closed a touch higher as investors sold off shares ahead of some major annual general meetings this week.

The Australian market has opened higher as investors correct a late sell off before the weekend.

More reports of falling earnings and slashed forecasts sent US stocks lower for another week, with uncertainty over the November 6 election and what will follow, policy-wise, increasingly holding i

The Australian dollar has closed weaker in-line with regional market and currency performances, and ahead of a crucial reading for US growth.

The Australian share market has closed lower on fears that US markets will react badly to the latest earnings figures from iPad and iPhone maker Apple.

Job cuts and lower costs helped investment firm Macquarie Group overcome subdued financial markets to increase its first half profit.

Self-funded retirees, who don’t subscribe to the theory of staying fully invested in the market, may find comfort in the views of Felix Stephens, head of strategy and research at Advance Asset Mana

Australian stocks opened flat after mixed leads from Wall Street and European markets.