BUSINESS

Up to 5000 bank clients of National Australia Bank (NAB) flooded its official website to file damage claims arising from NAB’s computer system glitch that started on Wednesday morning last week and extended onto the early part of the current week.

The prime industrial market in Melbourne is expected to fare the best compared to other cities in the county and even the Asia-Pacific region until 2014 based on a fair value index report made by property advisers DTZ.

Pressures over utility bills and other living costs outweighed concern about interest rates, despite widespread expectations of rate hikes throughout 2011, a new survey shows.

One of Australia's most diversified property group, Stockland, is choosing to concentrate on developing retail projects and slow down investments in office projects.

MLC, the wealth management division of the National Australia Bank (ASX: NAB), today announced the purchase of the remaining equity in financial advice business, Meritum Financial Group.

Local stocks have fallen into the red at lunchtime in the East, following disappointing economic growth numbers.

Australia's GDP rose 0.2 per cent in the third quarter and 2.7 per cent from the year-earlier period, the Australian Bureau of Statistics said today.

Despite the recent scare episodes on a number of its flights in November, Qantas Airways Ltd still managed to raise its passenger traffic prior to the incidents as the Australian national carrier revealed that more domestic and international travellers took Qantas flights in the month of October.

The Australian Capital Territory Government assures that the environmentally certified Molonglo Valley development will be affordable even for new home buyers.

In a survey compiling the answers of 1,061 respondents it was found that close to one in every 10 home buyers believe that the recent Reserve Bank interest hike may force them to sell.

Bankers today cautioned Australian customers about a recurring telephone survey scam which is using an organisation's name in an attempt to defraud bank customers.

An increasing number of Australians are shifting from personal loans to credit cards, particularly for lower sums, a new report by an independent market analyst shows.

Australian manufacturing activity contracted in November due to the ongoing impact of the strong Australian dollar, rising interest rates and skill shortages, new data show.

Flamboyant Virgin Group owner Richard Branson has decided to re-enter the media business via the glossy electronic magazine Project, which is exclusively intended for the iPad and purportedly targeting millions of audience currently owning the now ubiquitous Apple gadget.

Median property prices in Brisbane continue to drop for the fifth month in a row with a 0.2 percent slide in October.

U.S. stocks wavered between small gains and losses Tuesday as investors tried to reconcile continued worries over the European sovereign debt crisis with encouraging data on U.S. manufacturing and consumer confidence.

The AUD has opened lower this morning as investors move out of risk for safe haven assets such as the USD.

The Australian dollar is struggling to hold its own above 96 cents of late as economic headlines are dominated by risk.

US consumer confidence rose from 49.9 to 54.1 in November - ahead of market expectations and its highest reading in five months. The expectations index also rose to a six month high.

National city home prices rose in the country by 0.3 percent after a 0.1 percent rise but growth is expected to slow down when the Reserve Bank's rate hike in November affects the market says RPData-Rismark.

Australian national grocery, liquor and hardware wholesaler, distributor and marketer, Metcash Ltd (ASX: MTS) has lifted earnings before interest, tax and amortisation (EBITA) 7.7 per cent from $184.9 million to $199.4 million for the six months to October 31, 2010.

ACT shift workers are now set to celebrate Christmas Day with their loved ones as the ACT government officially declared that December 25, which falls on a Saturday, is a public holiday.

The Australian share market slid on Europe's sovereign debt woes and lower commodity prices, with the energy sector one of the few bright spots.

Shoppers be warned as ‘fresh produce’ sitting on Australian supermarkets shelves could have been there for almost a year, with the consumer advocacy group Choice calling on consumers to be vigilant on their shopping trips.

Reserve Bank of Australia (RBA) governor Glenn Stevens confirmed that the Australian economy is facing the prospect of dealing with a rising national income, thanks to the resurging resources boom, yet he warned that the surplus run must be utilised to further shore up the savings account of the federal government.

Budget carrier Jetstar has decided to reduce the frequency of its service flights between Darwin and Singapore and business leaders in the Northern Territory appears less than amused with the surprise move made by the airline.

House prices remain concerning even with a bounceback in dwelling approvals in October. Government action is needed to remove supply-side impediments that will otherwise have dire consequences for housing affordability, according to Australia's peak body for the building and construction industry.

Mixed economic indicators in the September quarter appear to deliver contrasting impacts on the upcoming gross domestic product (GDP) report this mid-week as rising government expenditures are expected to add up on the GDP figures while retreating export volumes are anticipated to detract some percentage points from the national account.

Australia' total number of dwellings approved jumped 9.3 per cent in October 2010, after falling for six consecutive months in seasonally adjusted terms, Building Approvals data from the Australian Bureau of Statistics showed today.