Financial Services

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.

US stocks have taken a sharp plunge as fears over the contagion in the eurozone crisis trumped some mildly positive data on the US economy.

The Australian share market closed slightly higher as investors shrugged off significant falls on overseas markets and focused on domestic corporate news.

The Reserve Bank of Australia is focusing more on managing risk, given the financial volatility seen over the past few years, its governor, Glenn Stevens, said.

Industrial services company Spotless Group says a $698 million takeover offer from a private equity firm undervalues the company.

Australian stocks have opened lower but outperformed significant declines on offshore markets.

US stocks closed sharply lower Wednesday as turmoil on the eurozone bond markets indicated little confidence in Europe's efforts to manage its debt crisis.

German Chancellor Angela Merkel has admitted the eurozone has still not identified the road to recovery from its crippling debt crisis, after talks with Irish Prime Minister Enda Kenny.

Perth-based oil and gas explorer Jacka Resources has appointed a new chairman in former Hardman Resources director Scott Spencer, to replace the outgoing Brett Smith.

The Australian dollar is close to falling below parity after dropping by more than one US cent as investors continued to worry about Europe's debt crisis.

The Australian share market closed lower after a positive lead from United States markets was outweighed by continued concerns about Europe's debt problems.

BC Iron expects ongoing volatility in the iron ore price, but says the market will remain healthy.

At $1,000 per bottle, it's Australian wine brand Penfolds' most expensive red at the time of its release, and the first customers to see the luxurious drop are in China.

Shares in internet service provider iiNet are in a trading halt amid speculation it is the preferred bidder for Australian Capital Territory telco TransACT.