The Reserve Bank of Australia is keeping an open mind on further interest rate cuts, but says monetary policy can't do all the heavy lifting in the economy.
The state's peak business group has hired a former chief of staff to premier Colin Barnett as its new chief executive. Deidre Willmott will succeed James Pearson as CCI chief executive.
The Australian dollar has fallen below 89 US cents for the first time in four months as expectations about an upcoming US Federal Reserve announcement continue to weigh on the currency.
The Australian share market has broken a six day losing streak as bargain hunters picked up the banking and mining stocks that had fallen in value the past week.
US stocks have closed lower after a surprisingly good retail sales report boosted speculation that the US Federal Reserve could soon scale back its stimulus program.
The Australian dollar is at a three-and-a-half month low following strong US retail data and after the Reserve Bank of Australia governor said he wanted the dollar around 85 US cents.
ThinkSmart shares have shot up 39 per cent upon its announced agreement to sell its Australian and New Zealand businesses to financial services company FlexiGroup for $43 million to shift focus to its operations in the United Kingdom.
Gold prices have slipped after a bipartisan US budget deal soothed fears of a year-end budget crisis, sapping some of the recent investor appetite for the haven asset.
The Australian dollar is lower on expectations that the unemployment rate will edge higher and amid increased expectations that tapering of US economic stimulus will begin soon.
Engineering and construction company VDM Group will look to strengthen its balance sheet through an $18.7 million capital raising, with the company's major shareholder H&H Holdings contributing $9 million to the finance boost.
