US economy

Obama sees Wall Street trading bonuses as a risk to economy

US President Barack Obama criticised the bonus-driven culture of financial trading desks at Wall Street banks as a risk to the stability of the financial system.

Fixed income

Aussie bonds yield biggest gains for global investors

Trading up: Aussie bonds beat those of other markets in the June quarter, delivering investors the best returns.

Wes Goodman and Kristine Aquino Australian bonds delivered the world's biggest gains to global investors last quarter as the local currency rose.


Building approvals rose 9.9% in May

Construction of homes in the Molonglo Valley

Approvals for the construction of new homes rose 9.9 per cent across Australia in May, official figures show.


May retail sales fall short with 0.5% drop

Retail sales fell in May, falling short of a prediction of flat sales for the month.

Australian retail spending fell 0.5 per cent in May, official figures show.


RBA's Glenn Stevens warns on Aussie dollar, Sydney house prices

NEWS - Reserve Bank Governor Glenn Stevens speaking at an Economic Society of Australia Business Luncheon in Brisbane.

Peter Martin The Reserve Bank believes the Australian dollar is set to fall significantly, “and not by just a few cents”.


Online retail sales rebound in May

Online shopping

Online retail sales have rebounded, despite consumers worrying about the spending cuts announced in the federal government's tough budget.


Trade deficit widens as exports fall

Australia's international trade balance has spent a second consecutive month in the red following a fall in mining exports.

Malcolm Maiden

Reserve keeping the balls in the air


Malcolm Maiden The years following the global crisis have been a period of extraordinary support for financial markets, and the Reserve Bank's announcement on Tuesday that Australian rates are on hold for the 10th...

RBA birds of a feather sticking together

Aussie Dollar

Michael Pascoe Just what was the foreign exchange market thinking?


ANZ report cites mining boom tax failure

mining truck

Stephen Cauchi Successive governments have failed to effectively tax Australia's mining boom, according to ANZ economists.

Malcolm Maiden

RBA hangs in there, despite unhelpful Australian dollar

The RBA says the Australian dollar isn't being as helpful as it could be.

Malcolm Maiden There is a hint of impatience in the RBA's latest comments on the Australian dollar.


RBA keeps official cash rate on hold at 2.5%

Glenn Stevens, Governor of the Reserve Bank

Eryk Bagshaw The Reserve Bank of Australia (RBA) has left the official interest cash rate on hold at the record low of 2.5 per cent


Australian capital city house prices soar 10 per cent

Sydney and Mlebourne boasted the biggest gains in property prices for the 2013-14 financial year.

Capital city house prices finished the financial year with double-digit gains, but the rate of growth is easing.


'Corporate psychopaths': When employees hit back online

A former employee advised NAB to: “Weed out the psychopaths and ­narcissists.”

Misa Han BHP Billiton is "a textbook example of bureaucracy, office politics, dysfunctional communication and operational inefficiency" and National Australia Bank is "an environment perfect for nurturing...


One in eight homes now foreign bought, report finds

City apartments in Sydney and Melbourne are attracting plenty of foreign buyers.

Stephen Cauchi Foreign investment in housing has nearly doubled over the last year, with most approvals centred on new units and apartments in inner Melbourne and Sydney.

'Thousands' in ATO sights over tax havens


Stephen Cauchi The Australian Taxation Office is ramping up its efforts to catch Australians who park undisclosed funds in other countries, saying it expects to contact "thousands of people" over the coming months.


New home sales fall in May

Falling new home sales indicate the housing market may have peaked.

Sales of new homes in Australia fell in May for the first time in five months, possibly a sign that the housing market may have peaked in this cycle, an industry survey showed on Monday.

RBA says foreign buyers not to blame for housing shortage

shortage not because of foreign buyers

Rebecca Thistleton Offshore buyers cannot be blamed for a lack of affordable housing, RBA assistant governor Christopher Kent has said.


Australian job vacancies at highest in over a year

Job vacancies data for the May quarter indicates a rebound in demand for workers.

Job vacancies in Australia rose to their highest in over a year in the three months to May, a second straight quarter of gains that hint at a welcome sign of returning demand for labour.


Telstra in $150m NBN fibre deal


David Ramli NBN Co and Telstra have signed a deal worth about $150 million to connect 206,000 homes and businesses with the Coalition's preferred fibre-to-the-node technology.