Financial Services

Prime Minister Julia Gillard stands by forecasts for the budget to return to surplus but says she is concerned about the implications for the Australian economy from the "fiscal cliff" in the Unite

Bank of Queensland's chief executive was paid $1.8 million, including a half million dollar bonus, in the same year the company made a loss.

The settlement of a class action against the National Australia Bank relating to the bank's heavy losses over toxic subprime home loans in the United States sends an important message to corporatio

Australian shares opened lower with the mining giants and most of the major banks posting falls.

US stocks have sunk in a second day of losses following President Barack Obama's re-election victory, trimming another one per cent after Wednesday's huge rout.

The Australian dollar is half a US cent lower despite better than expected local jobs numbers, as negative market sentiment took hold after the re-election of US President Barack Obama.

The Australian share market closed 0.7 per cent lower today, following steep falls on Wall Street.

Australian stocks are more than one per cent lower as weakness in the finance and resources-linked sectors lead broad-based declines.

US stocks have tanked more than two per cent after President Barack Obama's re-election victory set up a tough battle with Republicans over the looming "fiscal cliff".

The Australian dollar rallied to a fresh six-week high on news US President Barack Obama had won a second term in office.

Australian stocks finished 0.7 per cent higher, and the Australian dollar recorded solid gains, as US President Barack Obama's victory sparked a late afternoon rally.

Australian stocks are slightly higher after positive leads from Europe and Wall Street.

Commonwealth Bank of Australia has lifted its first quarter cash profit to about $1.85 billion but warns difficult economic conditions are beginning to hit businesses.

US stocks closed with solid gains as the country goes to the polls to choose between Barack Obama and Mitt Romney for president, with the economy the key issue in the tight election.

The Australian stock market finished higher as investors sat on their hands ahead of the US presidential election.

The Australian dollar rallied to its highest level in almost six weeks after the Reserve Bank of Australia opted to keep the cash rate on hold for November.

Industry, retailers and unions have questioned the central bank's decision to leave the cash rate unchanged following its monthly board meeting, when many market economists were predicting a furthe

The Reserve Bank of Australia has kept the cash rate on hold for November, citing higher than expected inflation and signs of improvement in the global economy.

Australian stocks have opened flat in quiet trade as market players await a Melbourne Cup day interest rate decision from the central bank.

US stocks have scored gains on the eve of the presidential vote, with President Barack Obama and Republican challenger Mitt Romney locked neck-and-neck in the race for the White House.

The Australian dollar is lower as markets wait to see whether the Reserve Bank of Australia will cut interest rates tomorrow.

The Australian share market finished slightly higher as investors await the United States presidential election and a local interest rate decision tomorrow.

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.