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Even as the Australian Prime Minister Julia Gillard called for a leadership vote on Thursday, one economist told CNBC that the Australian economy faced greater risk from high levels of household debt than from any political uncertainty.
Greg Bundy, Senior Adviser at AIMS Finance likes Telstra and Seek based on dividends and total returns to investors.
Australian employment jumped past all expectations in January, shoving the jobless rate to a six-month low of 5.1 percent and lifting the local dollar half a cent as investors pared back expectations for a cut in interest rates any time soon.
Commonwealth Bank of Australia, the country's top home lender, said first-half cash profit rose 7 percent to a record as a sharp fall in bad debt charges outweighed softer demand for mortgages and rising funding costs.
BHP Billiton and Rio Tinto have raised their bets on global copper demand, approving plans for a $4.5 billion expansion of the massive Escondida mine in Chile, while BHP plans to reopen a U.S. copper mine idled three years ago.
Moves by Australian banks to raise mortgage rates independently of the central bank did not change the impact of monetary policy, a top central banker said on Tuesday, dampening speculation of a cut to its official rate in response.
Leighton Holdings, Australia's top contractor, cut its outlook for 2012 to below analysts' forecasts, knocking its shares down on Monday, the latest disappointment after a disaster year.
Telstra, Australia's largest phone company, reported higher first-half earnings and maintained its full-year guidance on Thursday, as nearly 1 million new mobile subscribers offset a fall in sales at its Yellow Pages Sensis business.
Australia beat out the United States and Singapore to take top place among expatriates as an ideal residence for quality of life and career prospects, according to an international survey released on Thursday.
Australian retail sales slipped unexpectedly in December as consumers spent less on food and eating out, a soft end to a subdued quarter for shops and another reason to expect a cut in interest rates this week.
An Australian military aircraft on Friday was due to deliver needed supplies to a flood-stricken town hit by the worst of summer flooding in eastern parts of the country, with coal mining and agriculture also affected.
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The chart pattern suggests an initial target of $1.18 and this is usually followed by a consolidation.
Despite facing a series global headwinds and soft numbers out of Australia in recent weeks, the Aussie dollar has remained resilient — rising 3.5 percent since the start of the year. But one analyst is calling for the commodity currency to drop as low as 80 to 90 cents against the U.S. dollar by the end of 2012 on increasing downside risks.
Australians are leaving their country in large numbers. Over the past year, a record 7.6 million local resident have left the country on short-term trips, HSBC says, as they take advantage of the strength of the Australian dollar to travel abroad. The Financial Times reports.
Australian private new capital expenditure rose 12.3 percent in the third quarter in seasonally adjusted real terms, compared with the previous quarter, the Australian Bureau of Statistics said on Wednesday.
Australian business conditions softened slightly n October but firms grew more confident on he future as speculation swirled about a possible cut in interest rates, a survey showed on Tuesday.
Australian business confidence suffered a sharp fall in the third quarter, yet investment intentions remained strong, a survey on Thursday showed, offering hope that a tentative rebound in sentiment in September will persist.
Australian CEOs at the Commonwealth Business Forum in Perth sounded a decidedly upbeat note about the future of trade with China despite looming uncertainty about the global economic picture as Europe grapples with its sovereign debt crisis.
The “extraordinary” decline in global resources stocks is a buying opportunity for investors, one chief investment officer, told CNBC on Tuesday.