Australian shares fell sharply on Monday as resources stocks followed oil and metals prices lower, while investors failed to take inspiration from late Wall St gains on Friday. United States energy giant Chevron Corp’s $3.7 billion sale of its half stake in fuel firm Caltex Australia , Australia’s biggest block trade ever, also pushed the …
The financial stability of Australian businesses is on the improve as companies watch their spending and borrow less. Challenges remain however for businesses in the commercial housing and resources sector. The Reserve Bank’s latest Financial Stability Review reveals financial stress for Australian businesses is falling. Debt levels remain near historical lows, having fallen sharply after …
Australia is finding the transition from mining-led growth to other forms of activity to be a bumpy one, with business and consumer confidence still lacking, the head of the country’s central bank said on Friday. Reserve Bank of Australia (RBA) Governor Glenn Stevens said the decline in the local dollar would help support the economy, …
RBA: Australia Still Struggling with Post-Mining Blues Read More »
Australia has signaled its readiness to join the new China-led Asian Infrastructure Investment Bank, despite strong objections from the U.S., with a final decision expected Monday. Treasurer Joe Hockey said that the bank was a positive development that could help address a worrying backlog of unfunded infrastructure in Australia’s immediate region, including in neighboring Indonesia. …
Australia Signals Readiness to Join China-Led Infrastructure Bank Read More »
