Insights

Wall Street lifted to fresh records as strong growth in jobs, housing and consumer spending offset weak confidence.

Local market expected to lift in early trade ahead of US Fed Reserve meeting.

Currency dips on comments from RBA governor that its current value not supported

Investors digest mixed economic data, IBM news ahead of upcoming statement from US Federal Reserve.

Kirin Holdings' new position in the cheese wars may fell Saputo, while Retail Food Group eyes takeover targets post-capital raising.

If Joe Hockey can cut spending by just 1 per cent the country would save $4 billion. Let's hope he swings the axe on unnecessary expenditure of all kinds.

Acute disengagement of younger voters from Australia's political system is coinciding with intense discussion about the irrelevance of politicians. And it's taking place outside of traditional media.

Jotters laud ANZ's Asian pursuit despite resistance from critics, and one sees good news continuing for the big four.

The governors of Oregon and Washington states in the US north-west have agreed to put a price on emissions and adopt fuel standards, bringing their efforts to cut greenhouse-gas pollution closer to those of California and British Columbia.

Malaysia advanced for the first time into a top 10 ranking of nations the World Bank deems friendliest to businesses, as Singapore led the annual competitiveness scorecard for an eighth straight year.

Apple now has more products and sells them in more places but, for the third consecutive quarter, Apple does not have more profit.

The corporate watchdog has abandoned an international investigation into Jack Flader, the mastermind of Australia's biggest superannuation fraud.

Japanese-owned dairy, beer and wine group Kirin has thrust itself into an increasingly furious and costly three-way takeover battle for Warrnambool Cheese & Butter as it seeks to use a blocking stake to protect the viability of its cheese brands Coon and Cracker Barrel.

The Australian banks are at the top of their game. In the opinion of some that makes them a sell, but betting against them has been a loser's strategy and the 11 per cent higher $6.5-billion September year profit that ANZ chief executive Mike Smith handed down on Tuesday suggests that state of affairs will continue. Theories that the banks will be short-sold by hedge funds as proxies for an Australian housing market crash or an economic slowdown have been around for years, but powerful franchises, world-leading profitability and a combined 25 per cent weight in the Australian sharemarket make them dangerous ground for shorting, which involves an up-front commitment to sell shares backed by a plan to acquire the shares that will be delivered later, at a lower price. In this market, every sector except the telcos is shorted more aggressively than the banks.

ANZ Bank chief executive Mike Smith has signalled the bank will not retreat from its aggressive push into Asia, saying this remains a critical part of the plan to lift shareholder returns.

A photograph used with Tuesday's story in BusinessDay about Treasury Wine Estates inadvertently showed a barrel from winemaker Pizzini Wines. Pizzini is owned by the Pizzini family, and has no relation to the subject matter of the article. The Herald apologises for the error.