Finance News Archive History

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  • Australian government turns to austerity
    Budget measures are being taken to cut spending by $11.5 billion. Amongst the biggest cuts are the ‘baby bonus’ and jobs in the public sector.     The baby bonus will be cut from $5,437 to $5,000 from September next ...
    Tue 29th Nov, 2011
  • Rates for home loans and savings could swing again
    The deteriorating situation in Europe has increased the chances of a December interest rate cut.     Australian banks are coming under increasing pressure from the ensuing European debt crisis and have become nervous ...
    Mon 28th Nov, 2011
  • Fake credit card ring cracked
    Three people, including two Malaysians, have been arrested by Australian police in Melbourne after a counterfeit credit card ring was cracked.   Federal police seized 10,000 fake credit cards with a total credit limit of ...
    Fri 25th Nov, 2011
  • Rising living costs make it difficult to save
    The Mortgage Choice consumer sentiment survey has found that increased living costs were making it difficult for residents of New South Wales to invest in savings accounts.   While residents of New South Wales showed a ...
    Thu 24th Nov, 2011
  • ATM security comes under fire
    Banks are coming under fire for not using their record profits to improve ATM security, though some are ready to make changes.   Greg Smith, New South Wales Attorney General, criticised banks at a recent security summit for ...
    Wed 23rd Nov, 2011
  • Australian confidence in the economy still strong
    Confidence remains strong among the Australian population, in spite of a weak global economy, a survey by the Credit Union of Australia suggests.   The CUA reports that about 60% of Australians believe that the economy will ...
    Mon 21st Nov, 2011
  • Sales figures for October offer positive signs to businesses
    Rising sales figures in October have offered good news for businesses with Australian consumers laying their frugality aside.   The 0.4% rise on the Commonwealth Bank Business Sales Indicator has come after rises in August ...
    Fri 18th Nov, 2011
  • Australian economy to grow steadily
    Despite the cut in growth forecast announced by the Reserve Bank of Australia earlier this month, treasurer Wayne Swan expects the Australian economy to perform steadily and remain at trend.     The Bank cut its growth ...
    Thu 17th Nov, 2011
  • Saving tips for Christmas and beyond
    More Australians are finding that online shopping is proving cheaper than retail stores. Research from the Australian Communications and Media Authority shows that 62% of adult internet users purchased online in the six ...
    Wed 16th Nov, 2011
  • Australians turning away from credit cards for Christmas
    Consumers are increasingly looking to turn away from debt, figures now show.   Credit card accounts have fallen in September for the first time in 17 years. Credit card limits have only grown by 1.5% over the past year, the ...
    Tue 15th Nov, 2011
  • Hope for first-time home buyers versus fear for super funds
    There is hope for those looking for their first home, it has been revealed, but housing costs and low superannuation returns make the overall picture less appealing.   The first-home market is showing signs of recovery, ...
    Mon 14th Nov, 2011
  • Loan borrowers should wait for best deals
    Borrowers in the market for personal loans and home loans are in a good position, financial commentators suggest.   Consumers are now assumed to have more power to negotiate better personal loan and home loan deals with ...
    Fri 11th Nov, 2011
  • Credit card fees outweigh value of rewards
    About half of all Australian credit card holders are getting no value from their credit card rewards because of fees.   Annual credit card fees are outweighing the value of bonus merchandise or air miles in most cases, it ...
    Fri 11th Nov, 2011
  • Commonwealth Bank issues warning on rates
    Following speculation that central interest rates could be lowered again for the second consecutive month, the CBA suggests that it could be time for banks to rein in.   The Commonwealth Bank has warned that the pressures ...
    Wed 9th Nov, 2011 (1 Comment)
  • More interest cuts needed, and they may come
    Interest rate cuts made by the Federal Bank at the start of November are not enough to help households struggling with housing costs, it is claimed.   A Cost of Living Survey conducted by news.com.au shows that mortgage or ...
    Tue 8th Nov, 2011
  • Credit card fraud 'still very low' in Australia
    MasterCard has sought to reassure Australians on the approach to Christmas that credit cards remain a safe form of payment.   Andrew Cartwright, MasterCard's senior vice-president and country manager for Australia, ...
    Mon 7th Nov, 2011
  • Superannuation reforms to benefit savings?
    The biggest change to superannuations in 20 years could boost savings for millions of Australians.   The Australian government has made several moves this year to encourage its citizens to save more for their retirement. ...
    Fri 4th Nov, 2011 (2 Comments)
  • Retail sales up as confidence holds
    Retail sales in Australia rose in September for the third consecutive month, it was revealed this week. Figures from the Bureau of Statistics in Sydney show an increase of 0.4%, which follows a 0.6% rise from July to August. ...
    Fri 4th Nov, 2011
  • First test on mortgage exit fee legislation?
    The ban on mortgage exit fees introduced this year is set to make their first impact. Laws introduced in July banning mortgage exit fees will be tried and tested if banks don't pass on the 0.25% interest rate cut made by the ...
    Tue 1st Nov, 2011
  • Australian Reserve Bank cuts interest rates to 4.5%
    The Reserve Bank of Australia has cut interest rates for the first time since April 2009. The move comes in a bid to boost growth amid fears that the global downturn might begin to take its toll on the Australian economy. ...
    Tue 1st Nov, 2011

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