Prime Minister Scott Morrison and Treasurer Josh Frydenberg are presiding over a strengthening budget position, S&P says.

S&P upgrades Australia's AAA

Global ratings agency S&P has upgraded the outlook on Australia's sovereign debt to 'stable' and says it expects the federal budget will return to surplus by the 'early 2020s'.

'Life insurance on a life that's...dead?'

"How do you deduct a premium for life insurance on a life that's...dead?" Commissioner Hayne asked about AMP, in what was the best line on the final day of the insurance hearings. Here is how the day unfolded.

The Australian sharemarket is set to close the week in the green.

How the day in markets unfolded

Australian shares are still trading higher but have softened some of their gains during the afternoon session falling back below 6200 points.

Active managers set to shine: UBS

Active fund managers are set to flourish over the next decade as ageing Western populations create a drag on stock market returns and increase volatility.

Opinion

Insurers dodge sanctions on breaches

The power of the Insurance Council of Australia, and the limits of those powers, was on all full display as chief executive Rob Whelan took to the royal commission's witness box on Friday.

Smiggle a potential spin-off

Ten years after opening its first international store in New Zealand, the kids stationery brand Smiggle is undoubtedly Australia's most successful international retailer.

Hong Kong's richest man Li Ka-Shing has not been deterred by last year's failed bid for Ausgrid.

Blocking CKI a win for Beijing

If Australia is going to more closely scrutinise Chinese investment, something it has every right to do, then it probably helps to define what exactly "Chinese" means.

Josh Frydenberg has vowed to press ahead with tougher new laws on the insurers.

Insurers to face tougher laws

Josh Frydenberg has vowed to press ahead with tougher new laws on the insurers, in the wake of damning findings into general and life insurers uncovered by the royal commission.

A bid for London-based Deliveroo would mark a major attempt by Uber to dominate the food-delivery business in Europe.

Uber looking to buy Deliveroo

Uber is in early talks to buy food-delivery company Deliveroo for several billion dollars, according to people familiar with the plans.

EU rejects May's Brexit plan

European leaders toughened their stance against a British proposal on how to structure their future relationship, saying that Theresa May's controversial "Chequers" plan "will not work".

Michael Cohen said he is providing the information to prosecutors without a cooperation agreement.

Cohen giving information to Russia probe

President Donald Trump's former personal lawyer Michael Cohen said he is providing "critical information" as part of the investigation into Russian interference in the 2016 US election.

Personal Finance