BUSINESS

More Aussies Chuck the Cheque

In the last 10 years, Australians have been issuing lesser cheques by over 60 per cent. The Australian Payments Clearing Association (APCA) said the irreversible decline of the cheque is due to a change in consumer preference for electronic payments systems such as the use of debit and credit cards.

IMF Conducts Stress Test on Big 4

Officials of the International Monetary Fund (IMF) are in Sydney to conduct stress test on ANZ, Commonwealth Bank, National Australia Bank and Westpac.
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Nuclear Demand A Reality

By Greg PeelIndustry consultant TradeTech reports five transactions in the uranium spot market last week totalling 500,000lbs of U3O8 equivalent.

Global Markets Overview 05/15/2012

Concerns about Greece's possible exit from the euro zone helped to push U.S. stocks to three-month lows, as the Dow industrials lost ground for the eighth time in nine sessions.

Mortgage Rates Increases: Wrong Questions, Wrong Answers?

Nothing excites Australians like house prices and mortgage rates. It is no surprise, therefore, that the recent decision by major banks to increase interest rates 'outside the cycle' - that is independently of the Reserve Bank of Australia (RBA) - has led to hyperventilation among consumers and politicians.

ANZ Defends Interest Rate Policy

Australian banking major ANZ has defended its policy on interests in a letter addressed to The Age from its Australian operations chief Phil Chronican who argues that the cost of funding has increased substantially, and provided data to support his claim.

Macquarie Chief Calls For Interest Rates To Be Cut

Nicholas Moore, chief executive of Macquarie has added his voice to growing calls made by leaders of industry for interest rates to be cut next week as a means by which confidence in the country would be boosted by helping export based industries who are currently suffering from the high value of the Australian dollar.

Finance Jobs in London Hits 'a 16-year Low'

London's finance sector is facing a 16-year low in the number of available jobs, said the Centre for Economics and Business Research (CEBR) on Wednesday, with the euro zone crisis expected to cause more than 25,000 layoffs in 2012.

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