U.S cuts interest rates

The U.S Federal Reserve has cut interest rates again in an attempt to keep the economy from falling into a recession.

Australian dollar opens higher

The Australian dollar opened stronger again today after the U.S Federal Reserve cut interest rates for a second time in nine days.

Interest rates and inflation to continue to rise

National Australia Bank's (NAB) chief economist Alan Oster says the Reserve Bank of Australia will lift official interest rates and inflation will keep rising in the latest business survey released by Australia's biggest bank.

ANZ to launch Mobile Banking

The ANZ is about to launch mobile banking giving millions of Australian's 24 hour access to their bank account from anywhere in the world.

Australian dollar stronger

The Australian dollar (AUD) opened stronger today after the U.S dollar (USD) came under pressure from poor new homes sales data released in the U.S for the month of December.

Rogue trader free

Jerome Kerviel the 'rogue' French trader at the centre of an $8 billion loss by French bank Societe Generale has been released from custody without charges being laid against him.

Overseas Students 'left Out'

A WOLLONGONG researcher is lobbying banks and the Federal Government to highlight the inefficiencies of the new skilled graduate visa, introduced in September to address the nation's skill shortage.

Sacked Chief Executives And Other Persecuted Minorities

THE crisis in American financial markets is reaching frightening proportions. It is just as well that the sacked chief executives of big investment banks are receiving tens of millions in payouts to console themselves. After all, what job can a former CEO of a big investment bank do, other than raise and train an expense account? We have to look after these persecuted minorities. Here is a group of words that need looking after.

What Would Warren Buffett Do?

ON THE day last week that a rush of big foreign investors pledged $US19 billion ($21 billion) to rescue two of America's most famous banks, analysts argued it was a good omen for the future of the beleaguered finance sector.

Centro Set To Win Reprieve

THE new boss of Centro Properties, Glenn Rufrano, has ruled out any fire sale of assets before meeting the troubled company's banks to persuade them to extend the February 15 repayment deadline on its $3.9 billion debt.

Centro Can Be Saved, Says Ceo

GLENN Rufrano, the man charged with turning around the fortunes of the Centro Properties Group, has ruled out a fire sale of assets, confident he can persuade the company's banks to extend a February 15 repayment deadline on $3.9 billion of debt.

Australian dollar opens higher

The Australian dollar opened stronger today but remained under USD$0.8700 mark.

Shares up in morning trade

A Wall Street recovery late in the day has seen Australian shares gain ground in morning trade.

Packer and Murdoch bid for CMH

James Packer and Lachlan Murdoch have launched a joint $3.3 billion bid for the Packer backed publishing company Consolidated Media Holdings (CMH) which was only listed on the Australian Stock exchange on December 1.

Bank of China latest to be hit by Sub-prime losses

The South China Morning Post reports that the Bank Of China could be posting red figures in its balance sheet after bank sources confirmed the significant write down of US sub-prime mortgage investments.

Rates Decision Will Depend On Effect Of Banks' Rises, Says Governor

HOW home-owners respond to higher mortgage repayments forced on them this month will play a role in helping the Reserve Bank of Australia decide its next interest rate move.

Australian banks slow to pay interest but quick to hike rates

Australian Banks are always keen to put the interest rate up on home loans, sometimes, like the last interest rate rise for example, before any official interest rate rise by the Reserve Bank of Australia.

US stocks take another hit

U.S stocks took another hit overnight after news of a $16 billion loss by brokerage firm Merrill Lynch. The benchmark S&P 500 plummeted to a 15-month low with Merrill Lynch shares falling to $49.45 a loss of 10.2 percent.

Consumers taking out fixed home loans

Figures released by the Bureau of Statistics revealed that one in four new home borrowers took out a fixed interest home loan in November.

Have The Banks Been Oversold?

Troubles in the US subprime market have rippled through to Australia. The biggest local casualty has been the shopping centre investor Centro Properties Group, which has been struggling to refinance its debts. However, even our banks have suffered, their shares discarded by nervous investors who wonder if they might become the next casualties.

ATM fees on the rise

From next month, ANZ bank and Commonwealth Bank customers will be paying a $2 fee if they decide to use another banks Automatic Teller Machine (ATM).

Citigroup announce $18 billion loss

America's second largest bank, Citigroup announced it's first ever quarterly loss overnight with investors responding to the news by dropping their stock to invest in bonds.

Inflation Jolt Adds To Rates Pressure

NEW evidence of an inflation surge is adding to the pressure for another rise in official interest rates, as the federal Opposition accuses Treasurer Wayne Swan of letting the banks treat him like a "mug" over this month's rises.

Rudd meets with RBA officials

Australian Prime Minister, Kevin Rudd has met with officials from the Reserve Bank of Australia (RBA) to discuss inflation.

Banks Treat Swan Like A Mug: Liberal

NEW evidence of an inflation surge is pointing to fresh pressure on official interest rates, as the Federal Opposition accuses Treasurer Wayne Swan of letting the banks treat him like a "mug" over this month's rises.

Sting In The Tail For Loans

IT CAN cost thousands of dollars for those unhappy with their mortgage to change lenders - and the fees can be worse for those the traditional banks reject.

Sting In The Tail Strikes When Changing Loans

IT CAN cost thousands of dollars for those unhappy with their mortgage to change lenders - and the fees can be worst for those the traditional banks reject.

Bank Loan Exit Fees For Review

THE Federal Government will consider forcing banks to reduce the exit fees they charge borrowers for switching home loans as it steps up its tussle with the banking industry over rising interest rates.

Commonwealth Bank to open branch in Vietnam

The Commonwealth Bank of Australia has announced it will be opening its first branch in Vietnam.

Another rate hike looms

With the major banks and other leading lenders all lifting their home loan interest rates last week, or earlier in some cases, there seems to be no respite for borrowers.

Former HIH head released from prison

The former chairman of the failed HIH insurance company, Ray Williams, has been released from prison.

Market Opens Down

The Australia Share Market opened down today as expected after the losses incurred on Wall Street.

Beat The Banks At Their Game

Don't rush to fix your mortgage rate following the latest rate rises.

Us Market's Tailspin To Affect Asx But Keep A Brake On Rates

A SLOWING economy and more bad news for US banks sent Wall Street into a tailspin on Friday, with Australian stocks likely to follow suit this week.

All Major Banks and Lenders Lift Rates

The Westpac and St George have raised their home loan interest rates joining the ANZ, NAB and Commonwealth Banks in charging a higher home loan interest rate than the official rate set by the Reserve Bank.

Banks In Lockstep On Rates

THE two remaining banks not to raise mortgage rates in the past fortnight lifted them yesterday, dousing speculation one might hold rates steady to attract disillusioned customers.

Don't Blame The Banks - They're Just Doing Their Job

Wayne Swan is naive to demand an explanation from ANZ for their recent mortgage rate rise ("ANZ rates row with Treasurer escalates", January 9). He clearly lacks a basic understanding of the recent turmoil in the credit markets and its implications.

Banks Still Winning The Financial Battle

Round One of 2008, and the little Aussie battler is knocked to the ground once again.

Australian Dollar heading towards US.90 cents barrier

The Australian dollar (AUD) was trading at USD$0.8836/40 at lunchtime today after the Australian Bureau of Statistics (ABS) released figures showing that retail trade figures and job vacancies were up.

Major banks set to follow

Australia's leading banks are set to follow the lead set by the ANZ and the National by increasing their variable home loan mortgage rates.

Stock market closes down

The Australian share market closed slightly down after Wednesday's trading with the benchmark S&P/ASX200 index down 40.4 points at 6087.7 while the All Ordinaries lost 46.2 points to 6159.5.

Commonwealth Bank lifts home loan rates

The Commonwealth Bank of Australia (CBA) has joined the National Australia Bank and the ANZ in lifting the interest rate on Home Loans today.

How do I choose the best home loan

Choosing the best home loan product depends on what your financial situation is. What is best for Mr Black is not necessarily the best home loan product for Mr White.

National and ANZ raise home loan interest rates

The National Australia Bank and Australia & New Zealand Banking Group Ltd. have raised the interest rates on mortgages.

Quick tip on buying a property at Auction

Many people go to house auctions, some to buy and some to just watch and get an idea what houses in the area go for. You may find yourself at a property auction wanting to buy a home or an investment property.

Petrol, Banks And Labor

Petrol, banks and Labor

Nab Home Rise To Trigger Soaring Rates

AUSTRALIAN home borrowers are set to be hit with another interest rate rise, as the big banks try to recover soaring costs caused by the global credit crunch.

Westpac Opens Shanghai Branch

WESTPAC has eschewed the Chinese expansion policies of its two main domestic rivals, Commonwealth Bank and the ANZ, which are concentrated on minority stakes in local banks, and will focus on selected use of its own brand name in the country.

Potential Suitors Line Up For Centro

TROUBLED shopping centre developer Centro Properties Group has put itself up for sale, with Westfield, Stockland and investment banks such as Macquarie Group and Babcock & Brown considered potential suitors.

Centro enjoys slight rise

Centro Properties securities closed up three cents today as it announced that several groups were interested in its assets.

Wotif closes on Ttravel takeover

Wotif.com Holdings Ltd has moved a step closer in its quest to takeover travel.com.au by removing all conditions from its proposed $54.8 million takeover.

Westpac opens bank branch in China

The Westpac Banking Corporation Ltd has opened a new branch in China. The bank already has a presence in Asia with offices in Beijing and Hong Kong. The new branch in Shanghai was confirmed after the China Banking Regulatory Commission approved a financial license to the Australian bank.

Westpac looking for new chief of Retail Banking

Mrs Gail Kelly who was announced as Westpac's next Chief Executive Officer from 1 February 2008, and already has to find a new head for the retail bank after Mike Pratt resigned just before Christmas.