Latest News for: Australia banking

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Major coup for Australia as league prodigy Suaalii signs from Oct. 2024

Reuters 25 Mar 2023
Rugby union has fallen on hard times in Australia in recent years, limiting its attraction to talented youngsters, but Rugby Australia have been banking on the lure of a Lions tour in 2015 and a home World Cup two years later.Reporting by Nick Mulvenney, Additional reporting by Hritika Sharma in Bengaluru, Editing by Michael Perry.
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Hang Seng Index, ASX200, Nikkei 225: Hang Seng Sees Red on Bank Woes

FX Empire 24 Mar 2023
Investor angst over the banking sector and Powell’s warning of an imminent credit crunch weighed on investor sentiment. Economic indicators from Australia and Japan failed to distract investors from the influences of the Fed ... National Australia Bank (NAB) and the Commonwealth Bank of Australia (CBA) fell by 1.99% and 1.67%, respectively.
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What small business employees in Australia are really earning - and why the sector is ...

The Daily Mail 24 Mar 2023
The Reserve Bank of Australia is expecting to keep raising rates with inflation well above its two to three per cent target ... Reserve Bank of Australia Governor Philip Lowe has warned of a wage-price spiral, but Treasurer Jim Chalmers has refuted that argument.
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Dollar steady after Fed's rate pause hints, yen rises

The Economic Times 24 Mar 2023
"Central banks have already delivered the interest ...
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Asian markets fall due to Credit Suisse crisis

Blitz 24 Mar 2023
The move comes after the bank was found to have “weaknesses” in its financial reporting, leading to a sharp drop in its shares. Credit Suisse’s troubles have fueled fears of a wider banking crisis, with major indices falling more than 1% in Japan, Hong Kong and Australia amid heavy losses in bank shares.
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Surging Credit Card Spending Raises Concerns About Australia’s Economy

The Epoch Times 24 Mar 2023
According to recent data from the Reserve Bank of Australia (RBA), the total value of credit card transactions reached around $33.5 billion (US$22.38 ...
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ALEX BRUMMER: Banks under the cosh

This is Money 24 Mar 2023
There is much about the handling of the eruptions in the banking system that is perplexing. A crisis that began with Silicon Valley Bank (SVB) in the US was ultimately triggered by the Federal Reserve's relentless drive to raise interest rates and stymie inflation ... That certainly was true of Canada and Australia in the financial crisis.
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Week Ahead: 3 Factors That Could Jolt EUR/USD

FX Empire 24 Mar 2023
The final week of Q1 2023 also has the added spice of hearings on Capitol Hill to uncover “what went wrong”, as Fed Chair Jerome Powell asked publicly recently, in Silicon Valley Bank’s collapse ... Australia February retail sales USD. US Senate hearings on Silicon Valley Bank begins; US March consumer confidence ... Australia February CPI Crude.
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US Stock Market Today: Factors influencing investors on the final trading day of the week

Financial Express 24 Mar 2023
Major indices saw higher volatility on Thursday during regular trading as investors struggled with tightening monetary conditions and an ongoing banking crisis ... The market remained lackluster despite Treasury Secretary Janet Yellen’s remarks that authorities are ready to take additional measures if necessary to stabilize US banks.
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Australian banks predict another interest rate rise despite hopeful investor outlook

The Guardian 24 Mar 2023
Big four banks believe RBA will lift cash rate by at least another 25 basis points though many predict rises are close ...
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Hong Kong firefighters battle warehouse blaze in densely packed Kowloon

FX Empire 24 Mar 2023
Authorities said no casualties have been reported so far as they upgraded the fire to Number 3 from Number 1 at 2 p.m ... Hang Seng Sees Red on Bank Woes ... NASDAQ Index, SP500, Dow Jones Analysis – Stocks Retreat From Session Highs As Regional Banks Fall ... Australia Contracts ... ....
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Under the cosh: Declarations that the banking system has been rendered 'resilient' look thinner with ...

The Daily Mail 24 Mar 2023
There is much about the handling of the eruptions in the banking system that is perplexing. A crisis that began with Silicon Valley Bank (SVB) in the US was ultimately triggered by the Federal Reserve's relentless drive to raise interest rates and stymie inflation ... Banking events are similar to the flooding which follows a plumbing failure.
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Dollar eases as traders weigh Fed's rate path; yen rises

Reuters 24 Mar 2023
"The market will be looking at PMI releases around the globe for an update on not just activity but what businesses are reporting on demand, supply chain disinflation, wages, and pricing power," said Rodrigo Catril, a senior currency strategist at currency strategist at National Australia Bank.
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What next for our battered bank shares?

The Daily Telegraph Australia 24 Mar 2023
Shares in Australia’s banks have fallen much harder than the overall sharemarket as financial collapses and bailouts in the US and Europe spook investors ....
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Fund managers sitting on melting iceberg of outflows

The Daily Telegraph Australia 24 Mar 2023
A wild fortnight during which a rescue deal was struck for Credit Suisse and Silicon Valley Bank collapsed has turned the market on its head at a time of sweeping change for Australia’s top fund managers ....

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