Tag: Economic Trends
ANZ, Commonwealth Bank cut fixed rates
The ANZ and the Commonwealth Bank are reducing their fixed rates for home loans because the cost of funding those loans has eased.[MORE]
Westpac takes swipe at credit ratings agencies
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Westpac has taken a major swipe at credit ratings agencies for failing to predict the global credit crisis. [MORE]
Share market falls 0.5 per cent
Australian shares are down more than half a per cent after another sell off on Wall Street. [MORE]
Aussie boss takes parting shot at big banks
The outgoing chief executive of non-bank lender Aussie Home Loans has attacked the big banks' growing share of the home loan market.[MORE]
NSW job figues 'a real worry'
The New South Wales Government has rejected Opposition criticism that it is not doing enough to generate jobs. [MORE]
Writedowns push US market down
Shares in insurer American International Group tumbled as much as 18 per cent on Wall Street overnight after it posted a second quarter loss of nearly $6 billion thanks to massive writedowns in investments linked to subprime mortgages. [MORE]
Swan flags super reform
Wayne Swan says streamlining superannuation is a key component of the Government's plan to streamline the economy.[MORE]
US budget deficit to reach $440b
The United States budget deficit is expected to reach $440 billion this year, according to estimates from the Congressional Budget Office. [MORE]
Credit crisis hits world's largest insurer
The world's largest insurer, American International Group (AIG), has become the latest financial services company to suffer the brunt of the global credit crisis. [MORE]
'Scene set for rates cut' despite steady employment figures
An economist says a bigger than expected increase in employment last month will not deter the RBA from cutting interest rates.[MORE]
Nationals promise pensioners' fuel card
The Nationals are promising pensioners in regional Western Australia a $500 fuel card if the party gains the balance of power at the next state election.[MORE]
NRMA wants fairer country fuel price
The NRMA wants oil companies called to account over a big gap between the cost of petrol in country centres and that being paid by motorists in Sydney and Wollongong.[MORE]
Hiring figures up as unemployment rate stays steady
New figures show sharper-than-expected increase in the number of people hired last month.[MORE]
Tabcorp posts $165m loss after policy change
Gaming company Tabcorp has posed a huge loss for the 2008 financial year.[MORE]
Construction activity down for fifth straight month
There is more evidence of Australia's economic slowdown this morning, with a key measure of the construction industry contracting for the fifth month in a row. [MORE]
NRMA urges action on city-country petrol divide
The NRMA has called on the petrol commissioner to begin action against oil companies for failing to pass a big drop in petrol prices onto country communities.[MORE]
Economy suffering in climate policy debate: RBA director
RBA director says policy uncertainty about climate change is costing the economy.[MORE]
Oil price hits low of $US117
The price of crude oil is continuing to hit new lows, dropping to $US117 a barrel in futures trade overnight.[MORE]
Unemployment tipped to rise today
Official figures to be released today are expected to show employment only rose slightly last month as the economy weakened. [MORE]
Swan hits back after Keating's super spray
Wayne Swan dismisses former PM Paul Keating's criticism on superannuation policy.[MORE]
Tasmania performs well in home lending
Tasmania was one of only two regions to record an increase in home lending for the month of June.[MORE]
Economic conditions to affect future earnings: News Corp
The head of the global media company News Corporation has warned of challenging economic conditions which may affect the company's future earnings.[MORE]
Central banks should learn from credit crunch: economist
One year after the global credit crunch materialised, economists are saying there are lessons for central banks to learn from the ongoing episode.[MORE]
Brazilian boom lifting millions out of poverty: study
A study is suggesting the economic boom in Brazil has lifted millions of people out of poverty.[MORE]
Cut rates to boost home borrowing: economists
Economists are calling for a cut to interest rates to stem the decline in housing finance.[MORE]
