The Reserve Bank has released its latest bi-annual financial stability review, which looks at the current health of Australia's financial system. In its latest Financial Stability Review released today, the RBA said the number of borrowers whose mortgage repayments and essential living costs exceeded their pay packets has remained at 5%. While borrowers are historically “more resilient” to rising unemployment …
The Australian Competition and Consumer Commission says steel manufacturer BlueScope Steel has been ordered to pay a $57.5 million penalty for attempting to fix prices for flat steel products supplied in Australia. It is important that the deterrent effect of the penalty being imposed is not undermined by the ability of company directors and officers to insure against the financial …
Australian shares have dropped to their lowest level in four months, on persisting worries about rising inflation and the uncertainty surrounding cash-strapped Chinese property developer Evergrande. Evergrande misses another payment China's second largest property developer Evergrande has missed two deadlines to pay over $180 million worth of interest to foreign investors, who hold its US dollar-denominated bonds, in the space …