Financial Services

The Australian dollar is lower following strong US jobs figures and comments from the Reserve Bank governor about the currency being too high.

Wall Street rode improving economic data to fresh records this week, spawning comparisons to July 4 fireworks on the eve of the US Independence Day holiday.

Commonwealth Bank boss Ian Narev has apologised to customers hurt by misconduct in its financial planning business, but critics have hit out at the bank's latest review into the maligned division.

Australian shares have risen as home building approvals posted their strongest monthly gain in eight months following strong offshore leads.

The Australian stock market was higher in early trade following on from Wednesday's strong gains and Wall Street hitting record highs overnight.

Commonwealth Bank boss Ian Narev will front the media for the first time since a damning report called for a royal commission to investigate its financial advisers.

The Dow and S&P 500 edged to new records Wednesday ahead the official US jobs data for June, with the outlook buoyed by a strong ADP private sector report.

The Australian dollar is lower, weighed down by disappointing trade figures and a stronger greenback.

Signs of stronger manufacturing activity in the world's second largest economy have outweighed a blowout in Australia's trade deficit and fuelled gains on the share market.

Western Australian financial advisers and stockbrokers have dismissed a report that found public-listed companies were paying nearly 50 per cent too much to raise capital.

Internet pioneer Michael Malone has quietly ended another formal link to the ISP he founded and floated, selling more than 1.1 million shares in iiNet to net almost $8.5 million, a move which takes him below the 5 per cent substantial shareholder limit.

A rebound in the local banking sector has helped the Australian share market to open higher, after Wall Street stocks surged to new records.

The Australian dollar has shot up above 95 US cents after the Reserve Bank of Australia gave a more neutral statement than the market expected following its interest rate decision.

Wall Street stocks have barrelled higher to new records, opening the third quarter with big gains following strong US auto sales and Chinese manufacturing data.

Big falls by the banks have caused the share market to lose ground on the first day of the new financial year.

Western Australia’s gold producers continue to suffer at the hands of a strengthening Australian dollar, with more job losses revealed across the sector last week.

The Reserve Bank of Australia has kept the cash rate unchanged, saying the economy is improving but it will be some time before unemployment drops consistently.

The share price of Perth industrial parts and services provider Coventry Group has risen 14 per cent following the announcement of a $21 million return to shareholder

The share market is flat with mining stocks partly offsetting weakness among the major banks.

The Australian dollar has bounced as the greenback continues to be weighed down by weak economic data.

Wall Street stocks turned in a mixed performance to close a strong second quarter after US pending home sales jumped but automaker General Motors announced another massive auto recall.

Last-minute share sales to lock in the profits of a strong financial year have caused the market to fall.

The share market is slightly lower as investors wait for more signs on the economy's health.

The Australian dollar remains above 94 US cents after a batch of disappointing US economic data weakened the greenback.

US stocks have finished a quiet day of trade higher as strong earnings from Nike helped offset a profit warning from DuPont.

The share market has ended the week with a fall as investor caution resulted in muted trade.

Australia's corporate watchdog says policing the finance industry is a battle of fear versus greed, as it responds to a critical report into its handling of dishonest activity by Commonwealth Bank financial advisers.

Borrowers can rest easy as it looks like the Reserve Bank of Australia's cash rate will not go up for the remainder of the year.

Foreign investors are not pushing first home buyers out of the property market, a central banker says.

The share market is slightly higher despite Wall Street losing ground due to disappointing consumer spending data.

The federal government is playing down the prospect of a royal commission to investigate Commonwealth Bank financial advisers who lost clients' money.

US stocks have finished modestly lower following disappointing economic data even as shares for video camera maker Per cent soared in their first day of trade.