The Australian dollar closed down on Monday, as a siege in Sydney’s financial district and confirmation of the country’s deteriorating fiscal position weighed on the local currency.

After 2½ years of steadily rising prices, the housing market appears to be running out of puff.

Westpac has become the latest big listed company - and the first bank - to be targeted by a shareholder campaign on business lobby groups amid Australia's long-running and vexed climate policy debate.

An increased risk of bushfires is being cited by the electricity industry as it starts its campaign against cuts recommended for power prices in NSW.

Flight Centre has warned that pretax earnings could fall as much as 4 per cent this financial year due to a slowdown in spending on leisure travel in Australia in recent months.