Sharon Olalia

Australian stocks fell on Friday and snapped a three week winning streak after edgy investors preferred to take profit as lacklustre U.S. and euro zone economic data rekindled recovery worries.

Taxi fare payment company Cabcharge Australia Ltd (ASX: CAB) will pay $15 million in penalties and costs related to legal action taken against it by the consumer watchdog.

As debate continues on whether the country has a housing bubble, fresh data suggests Australians are borrowing heavily to keep pace with the rapid growth in house prices.

The Australian dollar eased on Friday as soft Asian stock markets gave investors an excuse to take profits from recent gains.

Australian stocks slipped on Friday, led weaker by banking shares after a poor reading on the U.S. labour market pushed Wall Street lower overnight and eroded confidence about its recent rally.

The federal government on Friday released the final budget outcome for the past financial year, which showed a $54.8 billion deficit, or 4.2 per cent of gross domestic product (GDP).

Australia is only two years away from experiencing a surge in refinancing activity, financial experts predict.

The new plans for a carbon tax imply a secret deal between Labor and the Greens has been struck, according to Opposition Leader Tony Abbott.

The Australian currency hanged onto 26-month highs as investors waited for possible quantitative easing measures by the US Federal Reserve.

The Australian sharemarket has closed slightly higher in a mostly quiet day as holidays in key Asian markets kept activity to a minimum, and after receiving mixed overseas leads.

Central bank economists have denied claims that Australia's housing market is in a bubble, although investors are concerned over prices posting a 19 per cent rise this year and more than 160 per cent increase in the past decade.

Commonwealth Bank of Australia (ASX: CBA), the nation's biggest mortgage lender, has joined an increasing number of banks in revising forecasts for an interest rate hike to October.

The Australian currency was flat at Thursday noon as investors await news on the possible resumption of quantitative easing measures by the US Federal Reserve.

The Australian stock market was slightly weaker at Thursday noon, following a negative lead from the US markets overnight.

Australian's financial positions have declined slightly, according to data released today.

The Australian currency hit a fresh 25-month high on Wednesday noon, following talks the Federal Reserve might reinvigorate stimulus measures to aid the ailing US economy.

The Australian currency strengthened more than one US cent to a 25-month high on Wednesday after the US Federal Reserve signalled it might engage in another round of quantitative easing.

The Australian bourse ended slightly higher on Wednesday after a rollercoaster trade in which profit-taking impacted on gains led by offshore sentiment.

National Australia Bank Ltd (ASX:NAB) said on Wednesday it expects the Reserve Bank of Australia will lift official cash rate from 4.5 to 4.75 per cent in October, rather than early next year.

The Australian stock market was stronger at Wednesday noon, as news from the US buoyed banking stocks.

Australia's economic growth rate slowed in July, marking the fourth consecutive monthly fall in the pace of expansion.

The value of consumer debts elevated to record levels in the three months to June and may lead to an increase in the number of bankruptcies reported this year and next, new research from Dun & Bradstreet shows.

The Australian currency is almost unchanged on Tuesday's local close after minutes of the Reserve Bank of Australia's September board meeting shortened odds of an October interest rate rise.

The Australian stockmarket has closed lower despite a positive start, as investors stayed on the sidelines ahead of commentary from US Federal Reserve chairman Ben Bernanke tonight AEST.

BP Solar is partnering with Verve Energy as the lead contractor to build Australia's largest ever grid-connected solar power plant, a 10 megawatt (MW) utility scale solar photovoltaic (PV) plant in Western Australia.

Australia and New Zealand Banking Group (ASX:ANZ) announced today it will commence lending and banking operations in China on October 1 after its wholly owned subsidiary Australia and New Zealand Bank (China) Company Ltd received regulatory approval.

The Australian currency was slightly firmer at Tuesday noon after the central bank gave another strong indication of an increase in cash rates.

The Australian bourse remains stronger at Tuesday noon although it pared some morning gains, following a rise on United States markets overnight.

The Reserve Bank of Australia is ready to increase its policy interest rate if the nation's economic strength continues to point to higher inflation, the central bank said in minutes of its September board meeting released in Sydney today.