Financial Services

Slowing economic growth, inflation, and interest rate hikes by commercial banks gave the Reserve Bank of Australia (RBA) the impetus to cut the cash rate in May.

Westpac has cut its interest rates on its short term fixed rate home loans by up to 20 basis points.

Australian stocks have opened lower, with local market players taking their cues from a poor night on Wall Street as the political gridlock in Greece dominated trading.

US stocks have closed firmly in the red as Greece's political stalemate and Spain's banking problems drove new fears about the strength of the eurozone.

Australian shares have closed slightly higher, driven by gains in the telecommunications and financial sectors.

The once-mighty Aussie dollar is losing purchasing power as it slips below its US counterpart, but TVs and electrical gadgets are likely to stay dirt cheap - for a while at least.

National Australia Bank will raise up to $500 million by issuing subordinated notes to investors.

Local stocks have opened firmer with market players buoyed by the Chinese central bank's actions to support lending in one of Australia's key trading partners.

The Australian dollar has fallen closer to parity with the US dollar political turmoil continues in Greece.

US stocks took a beating last week, only to face more turbulence from Europe as Greece grapples with rising political uncertainty that could cost the country's crucial EU-IMF bailout.

Fears of a new financial crisis in the wake of Greece's elections have dragged the Australian dollar perilously close to parity with its US counterpart.

The Australian share market has closed lower, after some bad news about the largest bank in the US, JPMorgan Chase, spooked investors.

Australia's banking watchdog says outsourcing does not always lead to cost savings, rather it can lead to higher costs and a loss of expertise.

ANZ has trimmed its standard variable home loan and business lending rates by 37 basis points.

The High Court will hear a class action by customers of the ANZ Bank alleging it charged excessive fees for overdrafts, overdrawn accounts, dishonour fees and over-the-limit credit card accounts.

Australian stocks have opened flat as market players wait for key economic data from China.

US stocks mostly bounced back slightly after a six-day losing streak, amid hopes that Greece's moderate socialists might be able to form a government and avoid a new eurozone debt crisis.

A surprise drop in unemployment has pushed the Australian dollar higher and away from parity with its US counterpart, for the time being.

The chief economist of one of the nation's biggest financial service companies says the federal budget will not help Australia's economic growth and risks damaging the effectiveness of superannuati

The Australian share market has closed higher, boosted by a better-than-expected unemployment rate and expectations that another cut to interest rates will be forthcoming despite the stronger jobs

Australian shares opened slightly higher despite sharp falls on Wall Street and on European markets.

National Australia Bank's net profit for the six months to March 31 fell 15.5 per cent to $2.05 billion due to its underperforming operations in the United Kingdom.

US stocks have pared early sharp losses to close with moderate falls after European Union (EU) officials confirmed that Greece would get the next installment of bailout funds this week.

Fears gripping global markets have seen the Australian dollar fall almost one US cent and could could sink it below parity with its American counterpart in the next few days.

The Australian share market has closed lower over the uncertain future of austerity measures aimed at stabilising some debt-ridden countries in the euro zone, especially Greece.

Australian shares opened lower after falls on Wall Street and the absence of an expected company tax reduction in the federal budget.

Turmoil in the eurozone and a clutch of disappointing earnings reports have sent US markets tumbling.

The Australian dollar has moved slightly higher, recovering some of the gains lost in Monday's sell-off, despite renewed concerns about Europe's debt crisis.

The Australian share market has closed slightly higher, in the wake of better than expected trading on United States and European markets.

The Commonwealth Bank of Australia is cutting interest rates on its one- and three-year fixed home loans by up to 0.34 percentage point.

Australian shares opened slightly higher after gains for European stocks when their markets had a change of heart about the election of France's first Socialist president in nearly two decades.

US stocks have closed mixed, showing little impact from the weekend votes in France and Greece which cast doubt on the path of financial reform across the troubled eurozone.