Latest market news
Greek unions, employers reject wage cuts
Greeks have rejected wage cuts, which have emerged as a major sticking point in negotiations to save the country from going bankrupt.US unemployment rate down to 8.3 per cent
The US economy created 243,000 net jobs in January, the most in nine months, and the unemployment rate fell two ticks.Whitehaven mines closed due to wet weather
Coal miner Whitehaven has closed four of its mines in NSW because of recent heavy rainfall, which has also prevented workers travelling to another mine.Westpac hints at undersized rate cuts
Westpac boss Gail Kelly says bank funding costs at post GFC high amid calls for more transparency and surveillance on banks' interest rate moves.Ausdrill's Sayers faces tax fraud charge
Ron Sayers, the founder and managing director of mining services provider Ausdrill, faces a charge of conspiracy to defraud the Commonwealth.Another interest rate cut widely expected
A third consecutive interest rate cut by the RBA is expected as inflation eases, local jobs growth slows and fears over a European recession grows.Austar to delay vote on Foxtel take-over
Regional pay TV provider Austar to seek court approval to postpone a shareholder vote on Foxtel's proposed $2.5 billion take-over.Services sector activity expand in January
Growth in accomodation, finance and personal services saw Australia's services sector expand in JanuaryBernanke defends US Fed policies
Federal Reserve chairman Ben Bernanke has appeared before politicians and defended the decision to hold interest rates at record-low levels.Fairfax shares fall back after steep rise
Fairfax shares retreated on Thursday as analysts questioned the financial wisdom of Gina Rinehart's decision to buy a big stake.Shoppers to enjoy cheaper prices at Coles
Shoppers are set to enjoy cheaper groceries as Coles entrenches itself in supermarket price wars for the long-term despite tough retail environmentExclusive sports deals worthless: analysts
Exclusive rights deals are now worthless after a court ruling allowing Optus to broadcast sports matches online, analysts say.Qantas lifts fares on all flights
Qantas increases fares on domestic and international routes in response to increased fuel costs and carbon pricing schemes in Australia and Europe.Rinehart tops list rich as Harvey drops
Gina Rinehart the richest woman in Asia and on the way to becoming the richest woman in the world, according to business magazine Forbes.Westpac briefs staff on job cuts
Westpac staff are being briefed on a fresh wave of job cuts that may result in hundreds of jobs being lost.Building approvals continue to decline
Economists predict Australia's housing sector will remain soft for a while longer after new data showed building approvals continue to decline.Building approvals fall 1% in Dec
The Australian Bureau of Statistics has released building approvals data for December.Aust trade surplus widens in Dec
Australia's trade surplus narrowed/widened in December, the Australian Bureau of Statistics (ABS) said.Printer PMP cuts earnings guidance
Publisher and direct marketer PMP cuts earnings guidance and conducts further restructuring due to poor trading conditions and weaker printing orders.Boeing Dreamliner faces glitches
All Nippon Airways (ANA) of Japan cancelled Boeing Dreamliner flights in January because of aeroplane glitches.IMF asks Greece to cut wages
Greece and the IMF say debt negotiations with Greece's creditors are close to being finalised, paving the way for a second bailout package.Malaysia grants licence to Aussie miner
Malaysia has granted approval for Australian miner Lynas to operate a rare earth plant despite protests over radioactive contamination fears.Rio takes BHP's stake in African miner
Rio Tinto will double its interest in Richards Bay Minerals, a South African mineral sands miner, by buying BHP Billiton's stake for an undisclosed sum.BHP may cut 155 Nickel West jobs
BHP Billiton says around 155 jobs from its Nickel West business may be cut as it responds to a languishing nickel price and a strong Australian dollar.Court ruling win for consumers: Optus
Optus says a Federal Court decision allowing it to broadcast National Rugby League and Australian Football League online was a win for consumers.Optus cleared of NRL, AFL copyright breach
Optus cleared of breaching copyright laws by allowing users to watch footage of NRL and AFL matches.House price drop adds to case for rate cut
House prices declined again in the December quarter, adding to the case for another cut to interest rates.St George, Bank SA targets of legal action
Angry bank customers are taking St George and Bank SA to court to recoup what they claim are unfair fees they have been charged.Wet weather leads to $154m loss for ERA
Energy Resources Australia posts a $153.6 million loss for 2011 and says production is still being hampered by wet weather.Manufacturing activity expands in January
Australian manufacturing activity in January expanded for a second consecutive month, a private survey shows.Qantas says it is strong despite downgrade
Qantas defends its financial position despite having its credit rating downgraded by Moody's.Boral sells Indon business for $128m
Building materials producer Boral has sold its Indonesian business for $128 million and has confirmed previous expectations for half year profit.Greece 'a step' away from twin rescue deal
Greece has almost finalised a crucial debt write-off deal and is turning its attention to new austerity measures essential for continued rescue loans.Households' insurance bills to jump 13%
Households will be hit with a 13% hike in insurance premiums in 2012 as insurers restore their profits after more natural disasters took their toll.Woolworths to sell Dick Smith Electronics
Woolworths is to sell off its Dick Smith Electronics chain, sparking fears for its founder that the business will end up in foreign hands.Home prices fell last quarter, report says
Australian capital city home prices fell 0.5 per cent in the final three months of 2011, a private sector report shows.Coles' price cuts are misleading: Woolies
Falling fresh produce prices are nothing new and an attempt by rival Coles to pretend it is heavily discounting fruit and vegies is misleading, Woolworths says.Private sector credit up 0.3% in December.
Total credit provided to the private sector by financial intermediaries rose 0.3 per cent in December, the RBA says.AWE to meet FY output, revenue goals
AWE Ltd is poised to achieve its annual production and revenue forecasts, while it has lowered its risk exposure to the troubled BassGas project.Navitas first-half profit up 9%
Education provider Navitas lifts first-half profit by nine per cent but expects second-half earnings to be weaker.Woolworths first-half sales rise 5%
Woolworths first-half sales have risen five per cent to $29.7 billion but it says consumer confidence is subdued and prices are falling.Breville to lift earnings
Electrical appliance seller Breville expects higher earnings this financial year due to a strong performance from its North American business.AACo lifts annual profit
Beef producer Australian Agricultural Company says it is well placed to benefit from the tight supply of beef and positive prices.Lynas' Malaysian plant near completion
Rare earths miner Lynas says construction of its processing plant in Malaysia is 91 per cent complete.Investors face 70pc loss in Greek deal
Investors participating in a deal to cut Greek debt would face an overall loss of about 70 per cent, sources say.Shoppers to spend more this Feb and March
Shoppers are tipped to spend more in February and March than they did last year, but it's not going to set the retail world on fireItalian borrowing costs down in bond sale
Bond sale is the first test of market sentiment about the country's handling of its debt since ratings agency Fitch cut Italy's credit rating.Banks face ratings downgrade on funding
The big four banks will know by April if FitchRatings has downgraded their credit ratings by one notch due to their dependence on global debt markets.BKI Investment posts 5.2% H1 profit rise
BKI Investment Co has posted a 5.2% lift in first half profit and expects more pensioners and retirees to snap up its shares for the strong yield.Transurban CEO resigns
Chief executive of toll road operator Transurban Chris Lynch has handed in his resignation.ExxonMobil sells Japanese subsidiary
Exxon Mobil Corp is selling its Japanese subsidiary to partner company TonenGeneral Sekiyu KK in a deal valued at $US3.9 billion ($A3.68 billion).Anxiety levels at record high in banking
Anxiety levels among bankers are at record levels with Australian finance professionals more worried than elsewhere, a new global report has found.Strike on summit day shows task at hand
Disgruntled Belgian workers are planning a strike to protest the direction in which Europe is heading as EU leaders gather for talks.Aust share market may open higher
US markets had mixed results on Friday, but prices for base metals and gold were up.IMF chief asks for more cash at Davos
International Monetary Fund chief Christine Lagarde has led a global push for the eurozone to boost its financial firewall.Fitch downgrades Italy, Spain
Ratings agency Fitch is downgrading the credit ratings of five countries that use the euro, including economic heavyweights Italy and Spain.Finance chiefs reassure Europe on track
Leading finance chiefs have sought to reassure anxious global business leaders that Europe is on track to solve its crippling debt crisis.US economy grows 2.8pc
The US economy grew at a 2.8 per cent annual rate in the final three months of last year.Europe chiefs focus on positives at Davos
The European Monetary Affairs Commissioner Olli Rehn hopes a new Greek debt restructuring deal will be reached "if not today maybe by the weekend".$A increasingly popular with central banks
The Australian dollar is becoming an increasingly important asset for central banks as they look to reduce their exposure to US and European currencies.
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