Shareholders still cash in as CBA profit slips to $9.5b
Commonwealth Bank's net profit after tax was down six per cent to $9.5 billion in 2023/24 but Australia's biggest bank is increasing its dividend.
economy, business and finance
Profits plummet at Kerry Stokes’ Seven West Media
As Seven West Media contends with allegations of a toxic workplace culture at its television network, profits plunge 69 per cent to $45 million.
Transition ‘well under way’ as AGL rejects nuclear push
Energy giant AGL has posted a stellar profit on higher power prices, taking the lead in the transition and dismissing nuclear as too costly and too late.
CFMEU crackdown laws lodged as calls mount to go harder
CFMEU officials who attempt to disrupt the work of external administrators have been threatened with heavy penalties, but not everybody is happy with the laws.
Property market picking up in smaller capital cities
REA Group's CEO says property listings in Melbourne and Sydney might marginally decline in 2024/25, but Brisbane, Adelaide and Perth are showing growth.
News Corp flags potential Foxtel buyer, rise in revenue
Foxtel could change hands with owner News Corp revealing a potential suitor for the pay-TV operator along with a rise in revenue for the American conglomerate.
Senator, insurer clash over cyclone ‘price-gouging’
A major insurer has been accused of making big profits during natural diasters at an inquiry into the impacts of climate change on the insurance sector.
Buyers hover as administrators plot course to save Rex
Embattled Rex has received significant interest from potential buyers, administrators say, as the regional carrier battles to stay in the air.
Wages, job data in focus for clues on economy, rates
New data on wage growth and demand for workers will be in focus this week, as borrowers await clues on when the central bank might cut interest rates.
RBA governor pours cold water on talk of early rate cut
The central bank says inflation remains too high and warned it could hike again, keeping the spotlight on government efforts to fight inflation.
New battery crackdown after 50 blazes this year
E-bikes and e-scooters will have to meet new battery standards in coming months in one state, after a spate of difficult-to-contain fires.
No plans to change state’s public service WFH policy
Public servants in Queensland will maintain work-from-home arrangements after the premier quashed any changes to the flexible policy.
Property giant Mirvac warns of ‘challenging’ conditions
Mirvac is investing in build-to-rent apartments and industrial sites as it slashes the value of high-rise offices and warns of ongoing challenging conditions.
Insurance prices blowing away cyclone-prone communities
Regional councils at risk from cyclones will reveal the impact of rising insurance costs on their communities at a Senate hearing.
Rex financial woes in spotlight as employees face cuts
Embattled regional airline Rex will hold its first creditors' meeting as the cash-strapped carrier plots its way out of financial disaster.
Rising cost of living hammers renters and mortgage belt
Higher rents are weighing heavily on Australians receiving government support payments as all households experience rising living costs.
Premier pumps up transport vision ahead of election
Motorists would be able to fill up their vehicles at state-owned petrol stations with capped price rises under a re-election pitch by Queensland's government.
RBA governor warns rate cuts not on near-term agenda
The Reserve Bank of Australia has kept interest rates steady and tempered expectations of imminent cuts, warning inflation remains "too high".
PM downplays airline duopoly as Rex waits for lifeline
A competition tsar has taken issue with the prime minister's suggestion that regional airline Rex engineered its own demise by targeting capital-city routes.
construction and property
consumer confidence
economy, business and finance
housing and urban planning
inflation and deflation
retail
Relief in sight as rates focus switches to cuts
Mortgage-holders appear to have avoided another interest rate hike, in a welcome development for the federal government with an election on the horizon.
Housing ‘defining issue’ for economy, says treasurer
Rents remain a lingering source of inflation weighing heavily on household budgets, with the federal government keen to see more homes built to ease pressures.
Room with a view comes at high price on tourist strip
High-rise apartment owners at a popular Australian tourist spot have been slugged with a "view tax" sending council rates to new heights.
Ore-some state tipped to win race for green steel jobs
Higher-grade iron ore, deep water ports and a 100-per cent renewable energy grid give South Australia the edge on other states chasing future green steel jobs.
Rising property prices push loan sizes through the roof
Soaring real estate prices in mid-sized capitals has pushed the average new owner-occupier mortgage to record levels.
Rates likely on hold with Reserve Bank coy on next move
The August interest rate meeting will dominate the week's economic agenda, with the Reserve Bank tipped to leave rates unchanged.
Thousands of children homeless in ‘national shame’
Two reports have laid bare the dire situation for Australia's most vulnerable children, with thousands turned away from homelessness services.
Diggers count losses on battery minerals, gold shines
Mining bosses and investors gathering in an outback city are counting their losses as the decarbonisation and battery minerals bubble bursts.
‘National shame’: kids facing life on couches, in tents
For many of the 125,000 Australian children without stable housing, a life of disadvantage, crime and poor health outcomes await without intervention.
Signs of slow build back with home approvals sluggish
Interest rates, labour shortages and investor confidence are contributing to weak building approvals, but there are signs of recovery in detached homes.
Air New Zealand scraps its 2030 emissions target
Air New Zealand has abandoned a 2030 emissions reduction target, citing delivery delays of fuel-efficient aircraft and high costs.
Help on its way for Rex despite ‘flawed’ expansion
A taxpayer-funded lifeline for Rex Airlines looks increasingly likely as the Albanese government highlights the carrier's "absolutely vital" regional presence.