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Economy

Construction sector ‘very fragile’ after interest rate increases

Growth in the construction industry continues to slow concludes the Australian Industry Group/Housing Industry Association Performance of Construction Index for May.

NAB and ANZ Bank held secret merger talks in 2008

National Australia Bank (NAB) and Australia and New Zealand Bank (ANZ) held secret talks in 2008 to merge, but plans were scuttled by the Federal Government The Australian reports.

RBA holds interest rates unchanged at 4.5%

The Reserve Bank of Australia (RBA) did as expected by analysts at its monthly board meeting today deciding to leave the official cash rate unchanged at 4.5 percent.

Greens surge in support to 16 percent in latest Newspoll

The Greens have surged in support in the latest Newspoll, stripping votes from both the Labor and Liberal parties and capturing 16 percent of the primary vote to the delight of Greens leader Bob Brown.

House sales plummet 9.6 percent across NSW

House sales in NSW crashed 9.6 percent in April according to the HIA, with buyers reacting strongly to successive interest rate increases from the RBA.

RBA expected to keep interest rates on hold tomorrow

Mortgage owners can breathe a sigh of relief with the Reserve Bank unlikely to raise interest rates above the current 4.5 percent in the RBA's monthly board meeting tomorrow.

Tony Abbott: You can’t trust what I say

Opposition Leader Tony Abbott has admitted that unless the words coming from his mouth are scripted, that voters cannot trust him to tell the truth.

Population growth falls as migrants stay away

Australia's population growth is set to slow over the next two years, with overseas students and long-stay visa holders forecast to stay away says BIS Shrapnel.

Labor could lose if election held tomorrow: Nielsen poll

Kevin Rudd's Labor party could lose an election held tomorrow concludes the latest Nielsen poll, with the Liberal Party equal with Labor in two party preferred figures.

Construction up for April as demand for apartments soar

Australia's construction sector is up again in April according to the Australian Industry Group Housing Industry Association Performance of Construction Index.

iiNet increases market share and earnings expectations

Perth based ISP iiNet is expecting full-year earnings to be at the higher end of its guidance range, it has revealed at the Macquarie Securities 2010 Australian Equity Conference.

Booming resource states leave NSW in their dust

Australia is set to continue its strong resources lead economic recovery, returning to levels of prosperity not seen since the beginning of 2008. At least for resource rich states like Queensland and Western Australia concludes the latest Business Outlook report from Access Economics.

NSW worst performing economy in Australia

New South Wales has come in dead last in a new report by CommSec measuring the economic activity state by state across Australia.