RBA cash rate heading to zero: leading analyst and other top stories.

• RBA cash rate heading to zero: leading analyst

  Australia is "clearly converging" to the low inflation, low rate world, Algebris Investments' Alberto Gallo says. Photo: Bloomberg Australia may be heading towards zero interest rates in the coming five years, one of the world's leading credit strategists says.While hardly a household name, the views of Alberto Gallo carry weight. He developed a cult following in the industry during his time as head of global macro credit research at investment bank RBS.The i..

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• Airport queue fast-track: Fee proposal for passengers' priority Customs checks backed by tourism industry

  

  Airport queue fast-track: Fee proposal for passengers' priority Customs checks backed by tourism industry Posted May 05, 2016 16:06:05 A proposal to allow airline passengers to pay a fee to pass through Australia's Immigration and Customs queues more quickly has been backed by the tourism industry.The plan for a paid, fast-tracked airport processing scheme was included in the federal budget earlier this week.Tourism and Transport Forum chief executive Margy Osmond sai..

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• Australian Dollar Rises Against Majors

  The Australian dollar strengthened against the other major currencies in the Asian session on Thursday. The Australian dollar rose to a 2-day high of 0.9627 against the Canadian dollar, from yesterday's closing value of 0.9588. Against the euro and the yen, the aussie edged up to 1.5319 and 80.31 from yesterday's closing quotes of 1.5395 and 79.71, respectively. Against the U.S. and the New Zealand dollars, the aussie advanced to 0.7495 and 1.0875 from yesterday's closing quotes of 0.7451 and ..

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• Super Retail flags $43m in restructuring costs

  

  Super Retail CEO Peter Birtles is closing or rebranding more than half his Ray's Outdoors stores in a bid to return the chain to profitability. Photo: Daniel Munoz Super Retail Group plans to go head to head with Kathmandu in the $2.2 billion outdoor leisure market by turning Ray's Outdoors into a shopping destination for campers, hikers and adventurers.After a strategic review lasting more than 18 months, Super Retail has finally signed off on a new concept..

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• Philip Lowe named next RBA governor

  

  Philip Lowe named next RBA governor Philip Lowe, a globally trained monetary policy specialist widely regarded as one of the best central bankers of his generation, has been given the job of running the Reserve Bank of Australia just as it enters unprecedented territory with record-low interest rates and the sudden spectre of deflation.Dr Lowe, the deputy governor since early 2012, takes over the nation's most important economic job in September from governor Glenn Stevens who w..

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• It took 10 years but NAB now poised to perform

  

  For the first time in 10 years National Australia Bank is offering investors a pathway to earnings growth thanks to the disposal of its poor performing bank in the United Kingdom and its life company.Chief executive Andrew Thorburn told Chanticleer on Thursday that the bank faced a couple of difficult years ahead but he rejected the idea that NAB and its banking peers were "ex-growth".Thorburn spent his first 18 months in the job dealing with the legacy of past executives. That cleansing proces..

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• Gold boom drives exports in March

  

  Gold boom drives exports in MarchBy Marty SilkAAPMay 5, 2016 2:27PMSavePrint The rise in exports that slashed Australia's trade deficit by almost 30 per cent in March is likely to be just a flash in pan.That's because it was driven by volatile gold exports, which surged 60 per cent in the month.The deficit narrowed to $2.1 billion in March, down from $3.04 billion in February, the Australian Bureau of Statistic said on Thursday.Exports rose 4.0 per cent in March, while imports were up 1.0 per c..

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• Affordability worsens: Moody's says mortgage repayment burden up in year to March

  

  Digging deeper: Housing affordability worsened in the 12 months to the end of March. Glenn Hunt Housing affordability has worsened in the past 12 months, with homeowners forced to spend a larger proportion of their income on monthly mortgage repayments, according to Moody's Investor Service.Affordability deteriorated in all capital cities except Perth, in the 12 months ended March 31.Australian households spent an average of 27.6 per cent of th..

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