Financial Services

The Australian sharemarket has closed weaker for the fifth consecutive day at a seven-week low with investors staying away or moving their money to safer assets.

Westpac has overhauled its management structure and hired a potential chief executive successor as it pushes to be the country's leading financial company.

Home buyers can continue to expect mortgage discounts next year as big banks battle each other for a bigger share of a sluggish lending market, a new report says.

An insurance catastrophe has been declared for areas affected by bushfires burning in the southwest.

The Australian sharemarket has opened slightly lower as traders wait for a catalyst following a bad run of news from around the world.

The Australian dollar has fallen to its lowest level in seven weeks as concerns about China's economic growth and Europe's debt crisis drag sentiment lower.

US equity markets have tanked as a poor German government debt auction fuelled fears over Europe's fiscal crisis and weak growth in the eurozone, a major US trading partner.

The Australian dollar has continued its downward trend following a report that France and Belgium were restarting talks on the bailout of Brussels-based bank Dexia.

The Australian sharemarket was dragged almost two per cent lower after the release of weak manufacturing figures from China.

The federal government's decision to defer the phase down of a tax paid by financial institutions will hurt competition, a banking group says.

Australians soon may be able to transfer their lost superannuation accounts electronically instead of completing numerous paper forms.

The high value of the Australian dollar is not hurting tourism operators as hard as is commonly believed, Tourism Australia Chairman Geoff Dixon says.

The Australian share market opened lower after markets in the United States fell overnight.

Australia's central bank will provide a facility to ensure commercial banks have enough cash in times of financial crisis.

The International Monetary Fund has announced a new lending facility aimed at helping "bystander" countries protect themselves from contagion during financial crises.

US stock markets traded choppily on Tuesday, with the Dow Jones Industrial Average squeezed by a sharp downward revision to US growth figures and lingering political concerns in Washington and Euro

Financially beleaguered BlueScope Steel has embarked on a deeply discounted $600 million capital raising to tackle debt and try and turn around its fortunes.

Australian shares closed weaker for the second day in a row but were relatively better performers than US and European bourses, which sold off on renewed sovereign debt concerns.

Developing East Asian countries should bring in deep reforms to offset threats from global slowing and regional natural disasters, the World Bank says.

Australian stocks have opened more than one per cent lower as skittish local investors took their cues from a horrid night on offshore markets.

The Australian dollar has fallen to its lowest level in six weeks as ongoing debt problems in the US and Europe dampen risk sentiment on global markets.

US equity markets have been rattled by news that Congress has failed to reach a deal to cut the country's massive budget deficit and to extend stimulus measures into next year.

The Australian dollar fell to its lowest level in almost six weeks as the failure of US budget negotiations added to already negative market sentiment.

Prime Minister Julia Gillard says her travels to various parts of the globe in recent weeks have uncovered a common thread of concern amongst world leaders about Europe, and highlighted the merits

The Australian share market closed marginally lower as wary investors held fire ahead of a Wednesday deadline for a long-term solution to the US debt crisis.

Banks cannot rely solely on secured issuance, such as covered bonds, to meet funding needs, an Australian central bank official says.

The Australian market opened almost half a per cent lower as investors remain uncertain about the European debt crisis.

The Australian dollar was largely unchanged as reports emerged that US politicians were still at odds over crucial debt negotiations.

Gold tracked equity markets to end slightly higher on Friday, even though persistent euro zone debt worries and margin liquidation from other markets sent bullion to its largest weekly loss since S

The Australian share market closed firmly in the red on low trading volumes as concern about the eurozone debt crisis continued to weigh on investors.

The Australian share market has opened more than one per cent lower as expected, following falls on Wall Street and European markets overnight.

The Australian dollar is lower this morning, falling below parity with the US dollar ofor the first time since October 12.