Finance
Mortgage approvals drop as rates biteThe number of home loan approvals fell for the fourth straight month as 12-year high interest rates continue to bite, economists say. IAG restructures business and exits UKInsurance Australia Group Ltd <IAG.AX> will restructure its Australian and New Zealand business to deliver $130 million in savings a year, as it winds bank its operations in the United Kingdom, with the loss of 600 Australian jobs.
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Business news: most popular articles

 Australia consumer sentiment at 16-year low in July
 Aussie stocks end two-day fall; financials lead
 Loan approvals fall, rates rocketThe number of home loan approvals fell for the fourth straight month as 12-year high interest rates continue to bite, economists say.
 Home loans fall - RBA on trackThe biggest monthly fall in the number of home loans approvals in eight years suggests the RBA's bid to slow the economy and push inflation down is working.
 Downer wins over $800m in contractsDowner EDI Ltd has won over $800 million of contracts to build and maintain telecommunications infrastructure and provide services to the mining industry.
 Oil drops to $US136 amid concernsOil prices have taken nosedived by almost $US5 as falling global equities and resurgent concerns about an economic slowdown stoked fears about demand.
 Bendigo continues growth after 150 yearsAs Bendigo Bank celebrates 150 years since its emergence, it is again generating growth through its unique community franchise model.
 Analyst urges banks to raise ratesAustralia's top four banks could lose a combined $500 million if they don't again raise their standard variable home loan rates, says investment bank JP Morgan.
 US STOCKS-Market rises on banks, lower oil; Alcoa up lateJust 52,006 people took out a new mortgage in May as 12-year high interest rates continued to dampen the desire for home ownership.
 UPDATE 3-Gold rebounds on Iran missile test, off two-wk lowAccounting practice KPMG is offering 80 Christchurch staff one-off payments of up to $15,000 to stay with the firm.
Market Indices 9 July,2008
09/07/2008 21:54 Sydney, Australia.
Index Value Change
All Ordinaries 5089.4 +67.0
S&amp;P/ASX 200 5011.9 +79.0
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Also in this section:
Market Indices9 July,2008
09/07/2008 21:51 Sydney, Australia.
US Value Change
Dow Jones 11384.21 +0.0
NASDAQ 2294.44 +0.0
UK
FTSE 100? 5510.8 +70.3
Japan
Nikkei 225 13052.13 +19.03
Nikkei 300 262.52 +0.37
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$A Prices9 July,2008
09/07/2008 21:54 Sydney, Australia.
Currency Value Change
USD 0.9513 -0.20%
GBP 0.4823 -0.35%
EUR 0.606 -0.38%
JPY 102.25 -0.14%
CAD 0.9667 -0.41%
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From the Financial Times

Concern at sharp rise in oil price
G8 warns of possible risks to the global economy and calls for concerted efforts to address the problem of underlying oil supply and demand pressures
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Banks place faith in China's trust companies @FT.com
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3 looks to double its customer base @FT.com
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Temasek recruits European industrialist @FT.com
Board appointment by Singapore's investment agency highlights the increasingly global mindset of the world's leading sovereign wealth funds
Why obstacles to a deal on climate are mountainous
Tackling man-made climate change is much the most complex collective action problem in human history.
Forget the meltdown, worry about goo and asteroids
The best way of dealing with grave uncertainties, as with more banal disasters, is to buy options against them, writes John Kay
EU backs weekly release of oil data
The European Union agreed in principle to publish weekly oil stocks data in an attempt to inject more transparency into a market where prices regularly...
Ho's sister launches suit to halt SJM listing @FT.com
Winnie Ho, the estranged sister of Macao gaming tycoon Stanley Ho, launched a last-minute lawsuit to thwart the $500m Hong Kong initial public...
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