News Articles for HSBC

The Australian Bureau of Statistics has reported surprisingly strong jobs growth in the month of April while the country's seasonally adjusted unemployment rate was steady at 4.1 per cent.

A surge in jobs in December has economists split over whether the Reserve Bank is likely to cut rates in February, with some predicting a cut may not come until the second quarter of the year.

Australia's trimmed mean inflation fell to 3.2 per cent in November, but jobs figures suggesting a tightening of the labour market have dashed hopes of a February rate cut.

The Australian Securities and Investments Commission has sued HSBC Bank Australia over what it described as “systemic and widespread” failures to protect customers from scams.

The Reserve Bank of Australia has held the cash rate steady at 4.35 per cent as expected but economists have noted a shift in the board's tone.

Australia recorded another month of strong jobs growth in August, with the data reducing the prospect of interest rate cuts in the next few months.

APM Human Services has secured a further $200 million debt facility, taking its total debt to over $1 billion, after entering a series of acquisitions.

Rising fuel and rent costs have contributed to a spike in inflation in Perth, with prices up 4.2 per cent in the year to June.

Red 5 says its King of the Hills project in WA is now fully funded, after the goldminer secured $235 million in debt and equity financing.

Multinational investment bank HSBC will shift its Perth headquarters from 190 St Georges Terrace to the 43-storey QV1 tower.

Perth prices rose 1.8 per cent in the September quarter, the sharpest lift since June 2006, after a big fall during the COVID-19 shutdown.

The federal government and six major banks have established a fund that will invest equity capital in Australian small-to-medium businesses.

The Reserve Bank of Australia has kept the cash rate at a record low 0.25 per cent at its monthly board meeting as it assesses the extent of the coronavirus-driven economic downturn.

The number of Australians in employment have fallen by 594,300 people in April, with Western Australia recording 62,300 fewer people in full- or part-time work following coronavirus-related lockdowns.

Gulf Manganese Corporation has secured further funding for the construction of two smelting hubs in Indonesia, with €52 million ($A84 million) expected to be received later this month.

House values are predicted to rise next year in every Australian city except for Perth, which could experience a further 5 per cent decrease, according to an economics report from HSBC.

Mining services business Ausdrill has launched a $100 million capital raising to bolster its balance sheet, as it anticipates further growth in its African operations, and negotiated an expanded debt facility.

A class action against failed electronics chain Dick Smith on behalf of disgruntled shareholders has been given the green light.

China Construction Bank has become the third Chinese banking group to establish a presence in Perth, and those managing its operations are planning to make a larger impact than the competition.

Shareholders in failed consumer electronics retailer Dick Smith are a step closer to taking class action against the business on the grounds they were misled about the company's profitability.

Gresham Investment House-owned mining contractor Barminco has secured a $100 million credit facility and closed a $US350 million bond issue to refinance its bond debt.

The state's unemployment rate dropped 0.3 percentage points in December to 6.6 per cent as the number of women in the labour force eased slightly, according to the latest Australian Bureau of Statistics data.

OPINION: The effects of recent positive export numbers on WA's trade-exposed economy could be a positive for the year ahead.

OPINION: One month of data and a forecast for strong annual growth in exports is not a trend, but a careful analysis of Australia's latest trade figures appears to confirm that an economic recovery is under way – and that could mean that the currency might be next to move up.

If a Donald Trump administration imposes tariffs on Chinese imports to the US, the hit to China would be limited but the move would spark a damaging trade war, a leading China-focused economist has warned.

The decline in mining investment is set to end by mid-2017 following four years of decline, according to banking giant HSBC.

Perth dwelling prices fell 1.7 per cent in the three months to March, while the average dwelling price across Australia's capital cities also fell for the first time in over three years.

The Reserve Bank of Australia has held the official interest rate at a record low, but it's still keeping an eye on inflation.

The corporate watchdog has permanently banned former Perth-based financial planner Simson Kwok from the industry for intentionally mishandling more than $4 million of clients' funds while working for HSBC.

More than 30 parties have shown interest in the assets of the collapsed Dick Smith retail business in Australia and New Zealand.

Dick Smith, one of Australia's best known electronics retailers, has been put up for sale, with lenders taking charge of the troubled company after it failed to secure a funding injection.

With the iron ore price falling to nearly $US40 per tonne, analysts can't see an end to the pain any time soon.

The wholesale supplier has lost a huge chunk of its stock market value as it battles the grocery giants.

Balcatta-based drilling services company Imdex has lined up a new debt funding deal after cancelling a $21.5 million placement just hours before today's shareholders meeting.

Employment in Western Australia lifted in August to 1.36 million, adding around 7,000 jobs in seasonally adjusted terms on July, according to the Australian Bureau of Statistics.

Falling exports have battered the June quarter GDP growth figures for Western Australia and nationally, but underlying demand increased more in WA than other states.

Analysts are looking to the services sector to drive the next phase of economic growth, amid a slowdown in resources investment and the collapse of key commodity prices.

Yield hunters are ignoring warning signs from the ‘real' economy, pushing share prices for some major stocks higher.

China is looking to export railways and power plants to improve its external position, with the added benefit of stoking steel demand.

Perth has maintained its trend of weekly price fluctuations at the petrol bowser, according to Australian Competition & Consumer Commission data, despite most other capitals moving towards longer fuel price cycles.