Mirvac pivoting from office towers to living units
Mirvac is reducing its exposure to office towers while adding projects in the build-to-rent and land-lease community space.
Economy, Business and Finance
Qld government labels infrastructure cuts ‘outrageous’
The Queensland government has lashed out at federal Labor after commonwealth funding for nine of the Sunshine State's infrastructure projects was axed.
Labor’s SEC safeguard bill appears doomed to fail
The Victorian government is facing defeat in parliament as it tries to change the state constitution to safeguard its state-owned electricity commission.
Teen binge drinking rate down ahead of schoolies events
A federal government study has found a 15 per cent decrease in 14 to 24-year-olds participating in binge drinking over the past 12 months.
Labor’s state-owned electricity bill appears doomed
The Victorian government is facing defeat in parliament as it tries to change the state constitution to safeguard its state-owned electricity commission.
Billions slashed from rail and road projects
Dozens of state projects have had their funding axed as the federal government scrambles to address a multi-billion dollar infrastructure cost blowout.
Albanese welcomes China-US talks on ‘guardrails’
Anthony Albanese says a meeting between the US and Chinese leaders is an important step forward in improving global security.
‘Not happy’: states to pay more for infrastructure
States will be required to go 50-50 with the federal government on infrastructure projects, angering premiers who believe the changes are unfair.
Court greenlights $110m deal over AMP ‘misconduct’
A court has signed off on a $110 million class action settlement supported by shareholders stung by financial giant AMP charging people fees for no service.
Growth forecasts take shine off bumper pay packets
Worker pay packets recorded the biggest quarterly jump in the history of the official wage price index survey, but annual growth is still trailing inflation.
Social fabric strained amid growing financial pain
Australia's social cohesion is under pressure on multiple fronts, including financial stress and worsening economic inequality.
Atlassian issues AI advice to prevent ‘oops’ moments
Software giant Atlassian will issue guidance to firms considering the use generative AI tools in their businesses to avoid unintended outcomes.
Wall St rallies, data suggests rate hikes may be over
US indices have made their biggest gains since late April amid indications interest rate hikes may be at an end.
China trade ban may be unwrapped in time for Christmas
China could lift punitive trade bans on Australian exports in time for Christmas as the Albanese government works to steady the diplomatic relationship.
Consumers, businesses still wary about the future
Consumer confidence has taken a hit after another round of interest rate pain, with businesses also cautious about the outlook despite economic resilience.
Drivers, bus users can’t escape new train text alerts
NSW is the latest state to use geo-targeted SMS messages to warn commuters about train disruptions - whether or not they're using the rail network.
Cruise ship doctor declares dual virus outbreaks over
The operators of a cruise ship docked in Adelaide have declared onboard outbreaks of COVID-19 and gastroenteritis are over.
Australia’s rental market woes go from bad to worse
Regional areas in the Sunshine State are now the most unaffordable places for renters to live, as affordable housing concerns spread beyond capital cities.
Optus finally makes call on cause of outage chaos
Optus has revealed the reason behind a communications outage that caused havoc for millions of people and businesses around the country.
RBA’s inflation forecasts edge higher as risks abound
Inflation is still expected to return to the Reserve Bank of Australia's target band by the end of 2025 but is proving to be more persistent than expected.
Trucking firm fined $2m following four police deaths
The trucking firm involved in the deaths of four Victorian police officers has been fined $2.3 million for safety breaches while its boss has a $22,500 fine.
Industrial action compounds port cyber-attack fallout
Major ports are almost back to full capacity following a large-scale cyber attack, with attention turning to industrial action threatening further disruptions.
ANZ joins this banking season’s $7b earnings club
Environmental groups are calling out ANZ's climate commitments while analysts said $7.4 billion in profit was a slight miss to consensus estimates.
Goalposts for full employment likely shifting: RBA
The rate of joblessness compatible with the Reserve Bank's inflation target is likely to settle somewhere lower than experienced over the past few decades.
Optus reveals routine software upgrade caused outage
Telecommunications giant Optus has revealed a routine software upgrade left millions disconnected across the country.
Caddick’s husband gives up fight for fraudster’s goods
The husband of deceased fraudster Melissa Caddick will walk away with a handful of luxury goods with other items to be sold and funds returned to investors.
Spending wanes as consumers wait for next big event
Major events have been keeping spending elevated, with consumption in retreat throughout a quieter month.
Record low vacancy rates hit would-be renters hard
It's never been more difficult to find a rental in Australia as a report confirms rental vacancy rates have hit record lows in some capital cities.
Anger as Optus data handout offer rings hollow
Optus is being slammed for "inadequate" compensation offered to customers after an outage affected millions of people and small businesses.
‘Dark cloud’ warnings over Queensland resources tax
The resources industry has pumped a record $116.8 billion into Queensland's economy but the state government has been warned it could lose investors.
Banks pass on rate hikes to thrifty home loan customers
Some mortgage holders are already trimming their spending and working extra hours, with the latest rise to put more pressure on households and the economy.