Australian dollar higher ahead of US presidential debate
Australian dollar higher ahead of US presidential debateAAP7:40AM October 10, 2016SaveThe Australian dollar is trading higher ahead of the second US presidential debate and after disappointing US jobs figures. At 7am (AEDT), the local unit was trading at US75.97 cents, up from US75.73 cents on Friday.National Australia Bank global co-head of foreign exchange strategy Ray Attrill said the Aussie dollar was “slap-bang” in the middle of the US74.5-77.5 cent range it has traded within since the end ..>> view originalRegulators up next at parliamentary banking inquiry
Australia's financial regulators will face questioning by the Parliamentary economics committee on Friday following appearances by the big four banks.The banking regulator, the Australian Prudential Regulation Authority, as well as the Australian Securities and Investments Commission and the Australian Competition and Consumer Commission will be called upon to answer questions from the committee in three separate hearings. More Business Videos Previous slide Next slide ..>> view originalNAB outage hits ATM withdrawals and Eftpos transactions
National Australia Bank has again been hit by a service outage that stopped customers from making Eftpos transactions or withdrawing cash from ATMs. Dozens of customers and merchants complained on social media of being unable to make transactions with NAB cards and terminals on Monday morning. More Business Videos Previous slide Next slide Fab four's greatest hits Scott Morrison's 'selective hearing' Keeping an eye on your super Star Fren..>> view originalMoody's warns on rising commercial property risks to banks
Australian banks are at growing risk of being burned by their financing of office towers and inner-city apartments, amid "pockets of distress" in the commercial property sector, Moody's says.The credit rating agency on Tuesday said there were "increasing signs of imbalance" in the commercial property market, a sector that has historically been the biggest cause of problem loans for the major domestic banks. The high number of apartments to hit the market in Sydney, Melbourne and Brisbane r..>> view originalPanadol Osteo price hike statement ambiguous but not misleading: ACCC
Statements linking a price increase of Panadol Osteo to its removal from the Pharmaceutical Benefits Scheme were "ambiguous" but not misleading, an investigation by the Australian Competition and Consumer Commission has found. More News Videos Previous slide Next slide Price hike set for Panadol Osteo Did he mislead parliament? Sydney Olympic Park 2030 Masterplan Phillip Hughes inquest begins CFA legislation to pass Hinc..>> view originalSuccess with CIMIC raid on UGL to hinge on troubled Ichthys project progress
Any hopes that Spanish-controlled CIMIC's $524 million bid for control of troubled heavy engineer UGL would succeed quickly have been blunted by sharemarket investors, who overbid the $3.15-a-share offer price from the start of trading as investors look for an update on a troubled project before deciding the bid's fate.CIMIC, known formerly as Leighton Holdings, launched a "final" bid for UGL from the start of trading on Monday, after snapping up a 13.8 per cent stake in the target. But specula..>> view originalEconomy in 'bust' mode, but no hard landing, Citi says
Australia's economy is in "bust" territory for just the second time in two decades, but that doesn't necessarily point to a hard landing, according to Citi. Economists for the investment bank, led by Paul Brennan, have developed a "bubble meter" for the economy, which creates a "Z score" by measuring terms of trade, mining investment, bond yields, apartment approvals and house prices. More Business Videos Previous slide Next slide Glenn Stevens: The future of property ..>> view originalGina Rinehart's Kidman bid hinges on deal structure and development proposals
Prime Minister Malcolm Turnbull: "I always welcome seeing Australian investment in Australian agriculture". Alex Ellinghausen The Coalition government has suggested mining magnate Gina Rinehart's joint bid for the Kidman empire has a good chance of receiving foreign investment approval due to the proposed structure of the bid and a commitment to developing the property.Both Prime Minister Malcolm Turnbull and federal Finance Minister Mathias Co..>> view originalBaird slammed over greyhounds back-down
Premier Mike Baird is set to announce an embarrassing back-down on his greyhound racing ban and will instead give the industry "a final chance" to reform, with a statutory review possible in three years, pushing the issue beyond the 2019 election.Cabinet is preparing to revisit the ban on Tuesday morning after a sustained media and industry campaign since it was announced in July and amid expectations of a large swing against the government at the November 12 Orange byelection. More..>> view originalFortescue Metals buys an iron ore mine for just $1
Billionaire Andrew (Twiggy) Forrest’s Fortescue Metals is paying just $1 to buyout BC Iron’s 75% interest in the Nullagine joint venture mine north of Newman in the Pilbara region of Western Australia. Fortescue is now seeing if there is a viable was to restart operations at the iron ore mine. The acquisition includes all assets and rehabilitation obligations. BC Iron shares jumped 16% to $0.21. Fortescue shares closed 1.8% higher at $5.03. Operations at the mine were suspended in late 2015..>> view original
Monday, October 10, 2016
Australian dollar higher ahead of US presidential debate and other top stories.
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