Latest Finance News



Loans to help people out of poverty

With five children to feed on a wage of 63 cents a day, Yumina and her family struggled to survive in their small village in West Timor. A small loan worth about $A460 changed their lives. "I de..

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Personal finance fell 2.6% in August

Personal finance loans were down 2.6 per cent in August. The Australian Bureau of Statistics (ABS) on Tuesday said personal finance commitments, seasonally-adjusted, fell to $7.763 billion in Augus..

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Caltex to sell bitumen business

Fuel supplier and retailer Caltex will sell its Sydney bitumen business to Puma Energy, a subsidiary of Dutch commodities trader Trafigura Beheer BV. Caltex supplies bitumen, which is a by-product ..

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RBA says rate cut still a possibility

The Reserve Bank of Australia is holding fire on interest rates, but says another cut is possible.Most forecasters, including economists from all four of Australia's major banks, are now saying that a..

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Telstra defends CEO’s pay packet

Telstra has defended chief executive David Thodey's $8.8 million pay packet after a shareholder questioned whether the telco's performance justified such a salary.At the telco's annual general meeting..

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Tabcorp’s first quarter revenue grows

Gaming firm Tabcorp's revenue grew by three per cent in the first quarter of the financial year, despite what it describes as tough trading conditions.Revenue in the three months to September 30 was $..

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US stocks close higher

US stocks reversed losses and finished higher amid encouraging signs from the White House and Congress that a deal is in reach on the budget and debt ceiling. At the close on Monday, the Dow Jones ..

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Australian share market closes lower

Investor nervousness has weighed on the local market as the deadline approaches to resolve the US political deadlock over the debt ceiling. US politicians have until Friday (Australian time) to rea..

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Bluescope to buy an Arrium business

BlueScope Steel will buy Arrium's OneSteel sheet and coil business for around $23 million. The steel manufacturer said the agreement included processing and distribution businesses in Sydney, Brisb..

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First home buyers priced out

The proportion of first home buyers taking out loans fell to a nine year low in August. First home buyers made up 13.7 per cent of all home loans approved in August, down from 14.7 in July, figures..

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CPA takeover offer turned down

Commonwealth Property Office Fund (CPA) has turned down a $2.3 billion takeover offer from office and industrial properties group Dexus. Dexus and the Canada Pension Plan Investment Board last week..

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Home loans drop after months of gains

Home loan approvals have fallen for the first time this year, but economists expect the housing sector to strengthen in the months to come.The number of home loans approved in August fell 3.9 per cent..

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First home buyers behind weak approvals

Historically high levels of investor activity are keeping first home buyers out of the housing market, resulting in a fall in home loan approvals.The number of home loans approved in August fell 3.9 p..

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iSelect CEO resigns

The chief executive of iSelect has quit after disagreement with the board, less than four months after the company floated on the Australian share market.Matt McCann, who had served as chief executive..

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US stocks up again on deal hopes

US stocks have rallied for a second straight session on rising optimism about a Washington deal to avert a debt default. The Dow Jones Industrial Average on Friday jumped 111.04 (0.73 per cent) to ..

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Australian shares soar on US debt talks

The Australian share market has posted its largest one day gain in more than three months due to signs the US will avoid a debt default by raising its debt ceiling. Investors snapped up banking and..

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Fairfax ditches BRW print edition

Fairfax Media will scrap the print edition of BRW Magazine from the end of November as it moves away from its traditional print-based mastheads and bolsters its online business. In an email to Fair..

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ANZ leaves rates unchanged

ANZ's interest rates will be left unchanged for another month. The bank decided to leave its standard variable mortgage rate at 5.88 per cent at its latest rate review meeting, after the Reserve Ba..

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