Australian market set to open lower

The Australian market looks set to open lower following sharp falls on Wall Street on fresh worries about a Greek debt default as US President Barack Obama called on Greece to enact reforms. At 0645 AEST ...

  • $A soars to one-month high AAP - 24 minutes ago

    The Australian dollar has rallied to a one-month high on the back of US dollar weakness and stimulatory measures announced by China's central bank. At 0630 AEST on Monday, the local currency was trading ...

  • NZ dollar gains after Chinese central bank adds more … BusinessDesk - 28 minutes ago

    The New Zealand dollar gained after the Chinese central bank added more liquidity to Asia's largest economy in a bid to boost growth, stoking optimism about the prospects for the nation's largest trading partner.

  • NSW economy is still number one AAP - 7 hours ago

    Bricks and mortar have cemented NSW as the country's strongest economy. The most populated state pushed Western Australia off the pedestal late last year, and is now the top performer for a third consecutive quarter, CommSec's State of the States report shows. NSW also has the title to itself, after previously sharing it with the Northern Territory. Its strength is supported by housing construction, as population growth spurs demand for new homes.

  • Too many costly super funds: Grattan AAP - 7 hours ago

    A respected think tank believes there are too many superannuation funds, many of which are charging excessive fees. The Grattan Institute says in a new analysis that there is little evidence that funds that charge high fees provide better member services or perform well enough to justify the extra costs. It is supported by the findings of the financial system inquiry headed by former banker David Murray that argues that policymakers must do more to prune out poor products. The institute says administration fees are too high for both default and choice funds and take their toll on net returns.

  • Bogus to call budget cuts deep: Deloitte AAP - 7 hours ago

    The Abbott government has made some important savings but to suggest it has made deep cuts is "completely bogus". Those are the thoughts of prominent economist Chris Richardson, who says attempted savings have to be viewed against an existing "large bucket" of promises to increase spending in the coming decade. The economy also keeps wiping out any savings that are being made because of the negative impact on revenue from falling commodity prices and slow wage growth, the Deloitte Access Economics economist says in his latest quarterly business outlook. "The federal government's fall in the polls has also seen it put back its approach to achieve savings," he said.

  • Australia to learn from UK Google tax AAP - 13 hours ago
    Australia to learn from UK Google tax

    Australia and the UK are joining forces to clamp down on profit-shifting by multinational companies, but Treasurer Joe Hockey insists that won't involve a new tax here. Mr Hockey and British Chancellor of the Exchequer George Osborne agreed at last week's G20 meeting in Washington to set up a working group after the British election in May to tackle tax avoidance by big global companies. "Australia does not need to impose a new tax but certainly there are ways we can beef up the integrity measures around our own taxation system," Mr Hockey told ABC television on Sunday.

  • Hockey optimistic on global outlook AAP - 13 hours ago
    Hockey optimistic on global outlook

    Joe Hockey has come away from his discussions in the United States more optimistic about the global outlook, even if there are worries over Greece. Having attended G20, International Monetary Fund and ...

  • Ridiculous to impose tax increases: Hockey AAP - 16 hours ago
    Ridiculous to impose tax increases: Hockey

    The Abbott government has been accused of using "weasel words" when it comes to returning the budget to surplus. Treasurer Joe Hockey insists he has never put a date on returning to the black. Opposition Leader Bill Shorten says that's "more weasel words". Mr Hockey reiterated that his May 12 budget would not be chasing down lost revenue from the steep fall in the iron ore price, but it will be trying to do everything that can be done to speed up the economy and create jobs.

  • Hockey won't be putting a date on surplus AAP - 17 hours ago
    Hockey won't be putting a date on surplus

    Treasurer Joe Hockey believes it is better to show "a quality trajectory" back to a budget surplus than put a date on it. Mr Hockey has reiterated that his May 12 budget won't be chasing down huge revenue losses from a fall in the iron ore price, but it will be doing everything possible to speed up the economy and create jobs.

  • Hockey criticised for US trip by Labor AAP - 17 hours ago
    Hockey criticised for US trip by Labor

    A Labor frontbencher says Treasurer Joe Hockey should have been in the cabinet room last week rather than enjoying his jaunt in the United States that included ringing the bell at the end of trading on the New York Stock Exchange. Mr Hockey was in the US for G20, the International Monetary Fund and the World Bank, gatherings the treasurer says will help him form his May 12 budget.

  • Aust not implementing a Google tax: Hockey AAP - 20 hours ago

    Treasurer Joe Hockey says he is not about to impose a new tax to combat profit-shifting by multinational companies but he is looking to tighten taxation rules with the help from the British government. Mr Hockey and British Chancellor of the Exchequer George Osborne agreed at last week's G20 meeting in Washington to set up a working group after the British election to tackle tax avoidance by big global companies. Australia is looking to learn from the UK's experience of introducing a diverted profits tax at the beginning of April, commonly known as the "Google tax". "Australia does not need to impose a new tax but certainly there are ways we can beef up the integrity measures around our own taxation system," Mr Hockey told ABC television.

  • Aust provides $25m to World Bank facility AAP - 21 hours ago
    Aust provides $25m to World Bank facility

    Australia is providing $25 million to a global infrastructure facility run by the World Bank. The facility aims to promote greater private sector investment in the infrastructure of emerging markets and developing countries, Treasurer Joe Hockey and Foreign Minister Julie Bishop said in a statement on Sunday. "The strong partnership between the Australian government and the World Bank ... underscores our commitment to lift investment in global infrastructure, a critical component to ensuring economic growth and poverty alleviation," they said.

  • Aust, UK aim to tackle profit-shifting AAP - 22 hours ago

    Australia and the UK are forming a joint working group to tackle profit-shifting by multinational companies, Treasurer Joe Hockey says. The agreement secured between Mr Hockey and British Chancellor of the Exchequer George Osborne during last week's G20 meeting will build on the UK's experience of introducing a diverted profits tax at the beginning of April, commonly known as the "Google tax". "This is a global issue that needs to be quickly addressed and as such the working group will be open to all G20 members," Mr Hockey said in a statement on Sunday.

  • G20 criticises US on stalled IMF reforms AAP - Sat, Apr 18, 2015 9:17 PM NZST
    G20 criticises US on stalled IMF reforms

    The Group of 20 countries have criticised the United States for blocking reforms to both expand the International Monetary Fund's resources and give China and other rising economies more say in the crisis lender's governance. Meeting on the sidelines of the US-based IMF's twice yearly meetings, the finance ministers and central bank governors of the world's leading advanced and emerging economies said they "remain deeply disappointed with the continued delay" in implementing the IMF reforms agreed in 2010.

  • Kiwi businesses praised for Anzac respect Newstalk ZB - Sat, Apr 18, 2015 5:49 PM NZST

    Retailers are being praised for respecting the use of the word Anzac this year.

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