Greek Prime Minister Lucas Papademos says there is "total convergence" among political allies on new austerity measures needed for a second bailout and debt cuts to avert default.
The federal opposition believes the Reserve Bank of Australia, and not the government, should do much of the heavy lifting if the local economy needs a boost in the face of a souring global economy
The Australian dollar is becoming increasingly attractive to foreign central banks and sovereign wealth funds as they try to reduce their exposure to under-performing US and European currencies.
US stocks erased early gains on solid earnings reports from Caterpillar and Netflix to end lower on Thursday, with some weak economic data and profit-taking seeming to drive the selling.
Treasurer Wayne Swan won't be cutting the major retail banks any slack if the central bank cuts the official cash rate again at its board meeting next month.
The Australian dollar continued to trade above 105 US cents despite expectations of further interest rate cuts after official data showed that inflation was easing.
The Australian dollar has been dragged down as negotiations to prevent Greece defaulting on its debt hit an impasse and the International Monetary Fund downgraded its global growth forecasts.
Goldfields Credit Union has received regulatory approval for its plan to demutualise, raise $9 million in additional capital and list on the Australian Securities Exchange as Goldfields Money.
The Australian dollar has soared above 105 US cents for the first time since October on renewed optimism that Greece will reach a deal with its creditors to avoid defaulting on its debt.
The Australian share market closed weaker as investors awaited an outcome to Greek debt restructure plans, with eurozone finance ministers scheduled to meet later today.
Bankwest managing director Jon Sutton is returning to a senior executive role at Commonwealth Bank of Australia, with CBA executive general manager of retail and business banking Rob De Luca set to
The Australian dollar rose to its highest level in 12 weeks amid hopes Greece will reach a deal with its creditors to avoid a disastrous default on its debt.
European shares notched up a fifth straight week of gains last week, as the outlook for the global economy improved and on optimism Greece would avoid a messy default.
Australian shares have added one per cent in early trading as successful debt auctions in Europe and more positive bank earnings in the US buoy optimism.
