Lendlease Group hit with first strike after $232m loss
Lendlease has joined Qantas, Woolworths, Treasury Wine Estates, Magellan Financial and Whitehaven Coal in being slapped with a "first strike" on executive pay.
Economy, Business and Finance
China foreign influence trial over $37k donation begins
The first trial to test Australia's foreign interference laws, involving alleged planned political gain over a $37,000 donation, has begun in Melbourne.
New industrial relations law to help deliver pay rises for Early Childhood Educators
Federal Government representatives have joined the Multi-Employer Bargaining meeting for early childhood educators alongside the United Workers Union
Green hydrogen jobs become a reality with start of Brigalow Peaking Power Plant
CS Energy has announced the commencement of the Brigalow Peaking Power Plant.
Infrastructure funding changes ‘abandon’ rural Tasmania
Tasmania has lost just one project as part of federal cuts to infrastructure plans, but says an overall funding shake-up lets down rural areas.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
Social fabric strained amid growing financial pain
Australia's social cohesion is under pressure on multiple fronts, including financial stress and worsening economic inequality.
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.
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.
‘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.
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.
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.
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.
Spending wanes as consumers wait for next big event
Major events have been keeping spending elevated, with consumption in retreat throughout a quieter month.
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.
Optus reveals routine software upgrade caused outage
Telecommunications giant Optus has revealed a routine software upgrade left millions disconnected across the country.
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.
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.
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.
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.