Markets

Australians tighten purse strings in another hurdle for the economy

Australians aren’t going out shopping as they used in worrying signs for the economy as record household debt comes to the fore. Retail sales fell 0.1% in March marking the third time in four months the measure has declined and missed forecast for a 0.3% rise, government statistics showed Tuesday. […]
Australians tighten purse strings in another hurdle for the economy
Markets

10 things you need to know before markets open in Australia and Asia

Good morning. Here’s what’s happening as Friday begins and markets get underway in Australia and Asia. First, the scoreboard (8:10am AEDT): • Dow: 20810 +34 (+0.2%) • S&P 500: 2363.5 +0.73 (+0.03%) • SPI 200 Futures (March – delayed pricing): 5,748.5 -11.5 (-0.2%) • AUD/USD: 0.7718 +0.0017 (+0.2%) And the […]
10 things you need to know before markets open in Australia and Asia
Markets

NAB’s earnings slip in wage-related expenses blowout

National Australia Bank’s first quarter earnings fell 1% as expenses growth outstripped increase in revenue and the lender warned funding costs were high and competition intense. Unaudited cash profit, which excludes one-time items, for the three months ended December 31 fell 1% to $1.6 billion, the Melbourne-based bank said. Revenue […]
NAB’s earnings slip in wage-related expenses blowout
Markets

10 things you need to know before markets open in Australia and Asia

Good morning. Here’s what’s happening as Friday begins and Asia gears up to celebrate the Lunar New Year. First, the scoreboard: (8:15am AEDT) • Dow: 20,101 +132 (+0.2%) • S&P 500: 2298 -0.5 (-0.02%) • SPI 200 Futures (March): 5,649 -2 (-0.03%) • AUD/USD: 0.7531 -0.00441 (-0.6%) 1. US stocks […]
10 things you need to know before markets open in Australia and Asia
Markets

Australia’s largest banks still face billions in capital shortfalls

The Commonwealth Bank of Australia and its key competitors, which together raised record amounts of capital in 2015, face a combined $6.1 billion shortfall and may need to sell more shares as early as this year. Three of the four largest lenders –Commonwealth Bank, National Australia Bank Ltd., and Westpac […]
Australia’s largest banks still face billions in capital shortfalls
Markets

Last week’s wild jobs report drives down Australian consumer confidence

Mistrust over Australia’s seasonally-adjusted jobs figures continues to confuse what is truly happening in the labour market. It’s creating a headache for policymakers and now it looks like it’s having a negative impact on consumer confidence levels — not a desirable outcome given strength in household consumption is required to […]
Last week’s wild jobs report drives down Australian consumer confidence