National Australia Bank has launched a massive $5.5 billion capital raising to help it get the jump on regulators and allow it to push ahead with the public float of its troubled UK business.
Wall Street stocks have fallen for a second straight session following disappointing jobs data and a warning from Federal Reserve Chair Janet Yellen on high equity valuations.
The state government is utilising rarely used powers under the Corporations Act to take control of $1.7 billion owed to creditors of the failed Bell Group and ensure a big slice of that money is distributed to Western Australian taxpayers through the Insurance Commission of WA.
Directors have indicated their support for reform to the GST, including an increase in its rate, and raised concerns that public policy debate in Australia was of poor quality, in a survey conducted by the Australian Institute of Company Directors.
Commonwealth Bank of Australia shares have dropped to a near four-month low, with analysts warning there could be worse to come and investors questioning whether the dream run is over for Australia's big four lenders.
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.
