The share market has finished weaker for the third straight day as the Reserve Bank's monetary policy statement took the shine off banking stocks and falling crude oil prices belted energy stocks.
The Reserve Bank of Australia has refused to rule out further interest rate cuts amid concerns about slowing Chinese growth and weak business investment in Australia.
Former federal Treasury secretary Ken Henry will take the helm of National Australia Bank’s board when chairman Michael Chaney retires at its next annual general meeting in December.
Boutique Subiaco-based technology company Velpic has signed a $5.2 million deal to finance international growth plans, as part of a reverse takeover by east coast-based International Coal.
Prime Minister Tony Abbott has denied reports he was told coalition MPs want Treasurer Joe Hockey dumped if next week's federal budget flops with voters.
National Australia Bank has launched a massive $5.5 billion capital raising to help it get the jump on regulators and allow it to push ahead with the public float of its troubled UK business.
Wall Street stocks have fallen for a second straight session following disappointing jobs data and a warning from Federal Reserve Chair Janet Yellen on high equity valuations.
The state government is utilising rarely used powers under the Corporations Act to take control of $1.7 billion owed to creditors of the failed Bell Group and ensure a big slice of that money is distributed to Western Australian taxpayers through the Insurance Commission of WA.
Directors have indicated their support for reform to the GST, including an increase in its rate, and raised concerns that public policy debate in Australia was of poor quality, in a survey conducted by the Australian Institute of Company Directors.
Commonwealth Bank of Australia shares have dropped to a near four-month low, with analysts warning there could be worse to come and investors questioning whether the dream run is over for Australia's big four lenders.
Australia's banks have come under fire from Treasurer Joe Hockey for taking their time to pass on the Reserve Bank's interest rate cut to their customers.
The state government will introduce legislation into parliament tomorrow designed to finalise the long-running Bell Group legal case, in which the Insurance Commission of WA and other creditors are fighting over a $1.7 billion payout.
The share market gave up all of its gains during the day to close flat after investors were downbeat about the Reserve Bank of Australia's assessment of the economy.
