The success or failure of the Murray inquiry's recommendations will depend on the government, the industry and the regulator’s appetite for change.

Travellers are expected to benefit “substantially” from lower oil prices, with global airlines forecast to drop average return ticket prices by 5.1 per cent next year after adjusting for inflation, according to the latest airline industry forecast.

Mining giant BHP Billiton says iron ore prices are unlikely to eclipse $US100 a tonne again, with expectations of steel consumption growth in China slowing further next year.

Next year is shaping as another pivotal one for financial markets. We have asked a number of top investors and analysts which indicator they will be watching particularly closely.

The financial planning industry is set for a massive overhaul of its education standards, level of professionalism and ethics.