Category: Finance

S&P lowers ratings for financial institutions

S&P lowers ratings for financial institutions

Ratings agency S&P Global Ratings has lowered the ratings of 23 Australian financial institutions, citing the risk of a sharp downturn...

Australian banks detail cost of levy

Australian banks detail cost of levy

Australia’s big four banks have given their estimates of how much the government’s levy will cost them as they stepped up their...

Aldi’s market share growth cost Coles and Woolworths: Moody’s

Aldi’s market share growth cost Coles and Woolworths: Moody’s

Ratings agency Moody’s has warned that Aldi growth will keep taking market share from Coles and Woolworths. In a note to investors,...

Pacific Rim nations to pursue TPP without the US

Pacific Rim nations to pursue TPP without the US

With fears growing of a new global era of protectionism, Asia-Pacific trade ministers have agreed to try to revive the Trans-Pacific...

Nick Xenephon backs bank tax – but only if it’s also applied to foreign banks

Nick Xenophon backs bank tax – but only if it’s also applied to foreign banks

Key cross bencher Nick Xenophon says he and his team will support the Turnbull government’s $6.2 billion bank tax, provided it’s also...

UK threatens to quit Brexit talks over EU’s €100bn divorce bill

UK threatens to quit Brexit talks over EU’s €100bn divorce bill

Britain’s Brexit secretary David Davis has warned that the UK will walk away from the Brexit negotiations unless the European Union drops...

Oil rises to $50 ahead of OPEC meeting

Oil rises to $50 ahead of OPEC meeting

Oil is starting the week above $50 a barrel, a one month high, on expectations that the Organization of Petroleum Exporting Countries...

Unemployment falls to 5.7 per cent

Unemployment falls to 5.7 per cent

Australia’s unemployment rate has unexpectedly fallen 0.2 points to 5.7 per cent with the creation of 37,400 jobs. This was much better...

Virgin loss blows out to $69 million

Virgin loss blows out to $69 million

Virgin Australia losses have widened to $69 million with an underlying loss before tax of $62.3 million. Virgin has attributed some of this...

Optus profit falls 11.8 per cent

Optus profit falls 11.8 per cent

Full year net profit for Optus has fallen 11.8 per cent to $794 million, the result of increased competition, higher content costs and...