Latest Finance News



Unemployment rate falls

Unemployment has fallen to its lowest level in six months but the outlook for the labour market remains bleak as many companies cut their workforce. The unemployment rate fell to 5.1 per cent in Ja..

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Billabong shares halted

Billabong shares have been placed in a trading halt amid reports it received a $A776 million takeover bid from US private equity giant TPG. Billabong issued a statement on Thursday announcing the t..

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Stocks to watch on Thursday

Stocks to watch on the Australian stock exchange early on Thursday: AIO - ASCIANO LTD - steady at $4.59 Asciano chief executive John Mullen is recovering in hospital after undergoing surgery for..

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CBA posts a record profit

Australia's biggest mortgage lender has posted a record first half profit result just days after inflicting more pain on home loan customers. The Commonwealth Bank of Australia (CBA) on Wednesday r..

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Stocks close up in late rally

The Australian stock market closed slightly higher on Wednesday, with financial sector stocks dragging it across the line in a late rally. The benchmark S&P/ASX200 index closed up 10.6 points, ..

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Westfield upbeat on growth

Shopping centre giant Westfield is upbeat about the future of retail sales in Australia despite overriding consumer caution and economic uncertainty abroad. Westfield chief executive Steven Lowy sa..

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Consumers boost car sales

Sales of new motor vehicles in Australia rose 1.3 per cent in January, official data showed. The Australian Bureau of Statistics (ABS) said on Wednesday new vehicle sales rose to 85,624 units in Ja..

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St George lifts interest rates

St George Bank has lifted its standard variable home loan rate by more than the big four banks, saying it is important for the economy that it remains strong. St George will lift its standard varia..

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Tabcorp to raise $200m

Wagering and gaming firm Tabcorp Holdings is returning to the bond market to raise about $200 million to help pay off existing debt. Tabcorp on Tuesday said it will issue new subordinated notes to ..

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GWA warns on outlook

Building fixtures supplier GWA Group says it will further cut jobs and warned that already fragile demand could be squeezed by the banks jacking up mortgage rates this week. GWA Group on Tuesday re..

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Paladin posts US$120m loss

Africa-focused uranium producer Paladin Energy has widened its first half net loss from the previous corresponding period even though it achieved record production. The Perth-based company, which i..

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Business conditions improve

Business conditions improved a little in January, as the global economic outlook begins to look a bit better, a survey shows. The National Australia Bank (NAB) Business Survey, released on Tuesday,..

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Greek deal boosts US stocks

US stocks closed higher on Monday after the Greek parliament's approval of tough austerity measures paved the way for a new financial rescue of the country. At the closing bell the Dow Jones Indust..

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Stocks to watch on Tuesday

Stocks to watch on the Australian stock exchange early on Tuesday: AAI - ALCOA INCORPORATED - steady at $10.50 Prime Minister Julia Gillard is meeting with workers from the struggling Victorian ..

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Aussie stocks close strongly

The Australian share market closed strongly, with investors delighted after the Greek parliament voted for an austerity package needed to obtain bailout funds. After a slow start, the benchmark S&a..

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