THE Australian market looks set to open modestly higher, following Wall Street’s positive lead as international tech stocks regrouped and investors anticipated an interest rate rise from the US central bank. At 0700 AEST on Wednesday, the share price futures index was up seven points, or 0.12 per cent, at 5,789. Meanwhile, the Australian dollar […]

GLOBAL credit ratings agency Standard & Poor’s has downgraded the ratings of 23 Australian finance institutions, warning the risk of a “sharp correction” in home prices has increased. The agency has slashed its rating on finance industry heavyweights including wealth manager AMP and second-tier mortgage lenders Bendigo & Adelaide Bank and Bank of Queensland. While […]

WESFARMERS’ new managing director will be paid as much as $4 million less than outgoing chief Richard Goyder when he steps into the top job in November. But Rob Scott, an Olympic medallist, will still be eligible for a pay and perks pool worth $10 million — about $27,400 every day of the year. Wesfarmers, […]