Trade Minister Craig Emerson believes it is important to return the federal budget back to surplus so there's room for the Reserve Bank of Australia (RBA) to cut interest rates again if needed.
The Australian dollar has opened slightly higher, on talk of a possible bailout solution for eurozone countries, after a week of increasing fears for the European currency.
Germany is facing mounting pressure to let the European Central Bank (ECB) save the euro, as reports surfaced of IMF contingency bailout planning for a remodelled Italy.
Treasurer Wayne Swan may only need to do some modest tweaking to reach his promised budget surplus in 2012/13, the chief economist at the nation's biggest home lender says.
The Australian sharemarket closed weaker for the sixth straight day, ending at a seven-week low, following losses on European markets overnight as investors grew impatient with a lack of action fro
Treasurer Wayne Swan says reports that China will allow direct trading of the Australian dollar against its currency on its foreign exchange market is another significant step of the bilateral rela
The Australian sharemarket has opened weaker for the sixth consecutive day as investors shy away from mining and resources stocks and after European markets suffered more losses.
European stock markets have closed mostly lower, slipping back from a modest technical rebound made as a strong survey of German business confidence helped sentiment amid the eurozone debt gloom.
Two leading business figures have spoken out against the recently introduced two-strikes executive pay rule, arguing it could be used for mischief and does not improve corporate governance.
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.
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 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.
