Latest Business News

• Interest rate cut less likely after stronger data

  

  A surprise bounce in retail sales and building approvals may reduce the likelihood of further interest rate cuts, economists say.

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• Preview of next week’s Australian economic data

  

  A preview of next week’s Australian economic data, May 7 to May 11:

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• Aston investors tick Whitehaven takeover for Tinkler

  

  AUSTRALIA’S youngest billionaire, Nathan Tinkler, became substantially richer after shareholders approved a friendly takeover of his Aston Resources by Whitehaven Coal in a two-part deal to create a $5.1 billion coal miner. The deal was approved at a scheme meeting [...]

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• Rate cut calls grow ahead of RBA meeting

  Business and unions are urging the Reserve Bank of Australia (RBA) to cut the official cash rate when its board meets on Tuesday.

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• 10,000 banking jobs to go by 2014: FSU

  

  Over 10,000 jobs could disappear from the banking sector in as little as two years as the big four continue to axe positions while they lift interest rates independently of the Reserve Bank.

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• Aussies loosen the purse strings for Valentine’s love

  

  Australians are beginning to loosen the purse strings and it’s all in the name of love.

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• Interest rates decision a setback for Gillard

  Prime Minister Julia Gillard’s hopes of kicking off a year of economic debate with some good news have been dealt a blow after the central bank defied expectations and left interest rates on hold.

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• IR umpire approves Qantas engineer deal

  

  THE industrial relations umpire has signed off on a workplace agreement between Qantas and its engineers. Fair Work Australia on Monday said it had endorsed the agreement, after a long-running dispute between the airline and the workers. Qantas CEO Alan [...]

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• NSW in the economic slow lane: opposition

  NSW is “spluttering along” at the back of a three-speed economy because of Premier Barry O’Farrell’s lack of leadership, state opposition leader John Robertson says.

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• New lenders would be welcome: Swan

  

  Treasurer Wayne Swan would welcome new foreign lenders to the Australian loans market, saying more competition would mean better deals for borrowers.

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• IMF to stress test Australian banks

  

  Australia’s banks will endure mandatory stress tests imposed by the International Monetary Fund (IMF) to ensure they can withstand another financial crisis.

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• Online sales a concern for retailers

  

  Slowing demand and the growth of internet sales continue to plague retail expectations for early 2012, a private survey has shown.

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• Euro crisis will affect Australia: RBA

  

  The Australian economy will inevitably suffer spillover effects from the European government debt crisis, the Reserve Bank of Australia (RBA) says.

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• Weaker commodities hurt trade surplus

  

  Falling commodity prices and growing demand for imports saw Australia’s trade surplus narrow in October.

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• Foster’s chief quits ahead of SABMiller take-over

  

  John Pollaers has quit as Foster’s CEO pending the take-over of the Australian brewer by British company SABMiller.

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• RBA takes protection from Europe’s woes

  

  Worries over the impact on the global economy from Europe’s debt crisis forced the Reserve Bank of Australia (RBA) to cut the cash rate for a second month in a row, and despite the likelihood that Wednesday’s national accounts will show a solid rate of growth.

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• Gold down, tracking equities and euro fall

  

  NEW YORK & LONDON: Gold fell mid-week, tracking equity markets’ declines and euro’s drop against the US dollar as weak Chinese factory data and slowing US consumer spending growth prompted investors to sell the metal.

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• Tough times force sale of Hot Tuna brand

  

  The Australian-founded surfwear brand Hot Tuna will be sold, with slow growth and a stagnant market forcing the move which will see the departure of the company’s top executives.

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• Govt ‘will do what’s needed’ for surplus

  

  Prime Minister Julia Gillard says the government has a clear plan to bring the federal budget back to surplus and will exert the fiscal discipline necessary to meet its target.

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• RBA delivers cash rate cut on Melbourne Cup day

  

  Melbourne Cup day has proven lucky for borrowers after the Reserve Bank of Australia (RBA) decided to cut the cash rate by 25 basis points to 4.5 per cent.

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