Australia's banks have come under fire from Treasurer Joe Hockey for taking their time to pass on the Reserve Bank's interest rate cut to their customers.
The state government will introduce legislation into parliament tomorrow designed to finalise the long-running Bell Group legal case, in which the Insurance Commission of WA and other creditors are fighting over a $1.7 billion payout.
The share market gave up all of its gains during the day to close flat after investors were downbeat about the Reserve Bank of Australia's assessment of the economy.
The Australian dollar is lower as the US dollar gains ground on the back of expectations that a June rate hike by the US Federal Reserve is still possible.
The Australian share market clawed back its early losses to finish with gains on the back of positive news around iron ore and the banks' profit results due next week.
The Australian dollar is lower following better-than-expected US economic data as traders look ahead to next week's Reserve Bank of Australia board meeting.
Wall Street stocks have fallen sharply as earnings from online listings company Yelp and others disappointed while US data showed only modest growth in consumer spending.
Sandfire Resources has dropped Federal Court proceedings against the research body at the centre of the Australian National University’s controversial divestment action late last year, following an admission the researchers failed to meet their own standards.
The Australian dollar has again broken past US80 cents, buoyed by weak US economic data and a Federal Reserve meeting that contained no major surprises.
The share market has fallen nearly 2 per cent, with a rapidly rising Australian dollar and profit taking by Japan-based foreign investors believed to be responsible.
Corporate and financial communication firms, Citadel PR and Magnus Investor Relations, have entered into an agreement to combine their businesses to form a significant independent national player.
US stocks have finished mostly higher but Apple's sell-off left the Nasdaq in the red and NYSE-traded Twitter's unintentional early earnings release held back overall gains.
Shares in local gold miners have dominated on the ASX today after the spot price for the precious metal jumped by over 2 per cent overnight to $US1,203.30 an ounce
People leaving the workforce now have got it much tougher than those who left a decade ago and will need to take a lot more risk in order to fund their retirement, the head of the Reserve Bank says.
