CBA follows ANZ, Westpac to hike rates
The Commonwealth Bank has become the latest of the big four banks to hike home loan rates, raising borrowing costs for owner-occupiers and property investors just hours after rate hikes from Westpac and ANZ. The nation's largest bank will raise interest rates on standard variable home loans by 3 basis points to 5.25 per cent effective from May 8. Investors will see a 24 basis point hike to 5.80 per cent. Play Video Don't Play Up Next Why new jets could destroy airlines Play Vi..>> view originalASX claws back lost ground after biggest drop in 2017
The Australian sharemarket ended the week on a positive note despite jitters surrounding the passing of US healthcare legislation, billed as the first big test of the Trump administration's legislative prowess.The benchmark S&P/ASX200 rose 0.8 per cent to 5753.5 on Friday, narrowing the weekly loss to just 0.8 per cent, after the market on Wednesday experienced its biggest slump since November. The broader All Ordinaries Index also fell 0.8 per cent over the five trading sessions. Glo..>> view originalHarvey Norman up after review disclosure
Harvey Norman up after review disclosureLilly VitorovichAustralian Associated Press5:57PM March 24, 2017SaveHarvey Norman shares edged higher on Friday following retailer's disclosure late on Thursday night that its financial accounts are being reviewed by the corporate regulator.The stock finished three cents higher on Friday at $4.38 after falling more than 2.1 per cent to an intra-day low of $4.26 - their lowest level for the week.The furniture and electrical goods heavyweight said after the ..>> view originalWA GST return hits 34 cents, blows hole in budget
WA GST return hits 34 cents, blows hole in budget Updated March 24, 2017 16:34:37 The new West Australian Government has been handed a major budget blow, with the state set to be hundreds of millions of dollars worse off due to a lower than expected GST allocation.Treasurer Ben Wyatt admitted it would be virtually impossible to meet Labor's pre-election commitment of bringing the state budget back to surplus by 2019-20, following the revised figures from the Commonwealt..>> view originalWarning on tax-funded transport future
Warning on tax-funded transport futureLilly VitorovichAustralian Associated Press5:13PM March 24, 2017SaveGovernments must adopt a user-pays approach to fund future transport needs and consider privatising public transport, the head of Australia's peak infrastructure body says.Infrastructure Australia chief executive Philip Davies has warned that relying on taxpayer funds to pay for infrastructure projects is unsustainable, particularly with an ageing population that will put greater pressure on..>> view originalDowner EDI shares go down, down, down
Shares in infrastructure and mining services company Downer EDI have fallen more than 20 per cent after institutional investors showed limited enthusiasm for a capital raising to help fund its $1.26 billion takeover of cleaning and catering firm Spotless Group. Downer EDI hopes to raise $1.011 billion through an offer of two new shares for every five held by both institutional and retail investors. The company on Friday said it had raised about $757 million through the offer of new shares to in..>> view originalGoogle advertising boycott unlikely in Australia
A UK-led boycott of Google's programmatic advertising is unlikely to spread to Australia, according to local media buyers. So far several prominent UK advertisers including the British Government, Toyota and The Guardian, have pulled their advertising spend over concerns ads were appearing next to extremist or inappropriate content. Play Video Don't Play Up Next Why new jets could destroy airlines Play Video Don't Play More BusinessDay Videos Previous slide Next s..>> view originalPrime Minister Malcolm Turnbull rejects calls from Tony Abbott to keep Hazelwood open
Government rejects Hazelwood bailout calls1:03The government has rejected calls from former PM Tony Abbott to bail out Victoria's Hazelwood power station. Former prime minister Tony Abbott thinks Hazelwood should be propped up by taxpayers. Picture: Mick Tsikas/AAPTONY Abbott just can’t help giving Malcolm Turnbull advice but the Prime Minister doesn’t look like he’s going to start taking it anytime soon.In his latest serve at the Turnbull Government — delivered via an opinion piece for the Her..>> view originalChinese buyers to prop up Australian housing market: Credit Suisse
Foreign buyers are purchasing new housing in New South Wales and Victoria at a rate of $8 billion a year - a figure the equivalent of one in five new homes completed across the two states. The figures, available for the first time through a freedom of information request, come from state governments which now collect taxes from foreign buyers when the property is settled. The figures reveal the size, source and changes in foreign demand for Australian housing. Play Video Don't Play ..>> view originalIf it looks like a housing bubble and sounds like a housing bubble…
If it looks like a housing bubble and sounds like a housing bubble… Updated March 24, 2017 13:20:38 I didn't think it was possible for there to be more focus on the Australian housing market than in 2016, but the last couple of weeks have proved me wrong.ABS figures revealed that in the December quarter, across the eight major Australian cities, house prices rose 8.9 per cent and apartment prices rose 4 per cent. Those are stunning figures, particularly on the back of t..>> view original
Sunday, May 28, 2017
CBA follows ANZ, Westpac to hike rates and other top stories.
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