Super on parental leave to reduce ‘motherhood penalty’
Parents will get an extra $3000 in their super balance while on government-funded paid parental leave under laws introduced to federal parliament.
economy, business and finance
Gen X, older millennials ride housing boom to the bank
Older millennials and generation X are among the biggest winners from Australia's real estate boom as profits from sales hit their highest level in 10 years.
Body of tech entrepreneur retrieved from sunken yacht
The body of technology tycoon Mike Lynch has been recovered after a luxury yacht that sank off the coast of Sicily, while his daughter remains missing.
company information
economy, business and finance
energy
energy and resource
indigenous people
natural gas
oil and gas - downstream activities
oil and gas - upstream activities
Santos drilling for gas demand well into the future
Oil giant Santos is juggling capital-intensive projects, including the hotly contested Narrabri field in NSW, as rising costs and lower LNG prices hit profits.
Vicinity seals largest Aussie retail deal for 2024
Retail property group Vicinity Centres has acquired a 50 per cent stake in one of the biggest shopping centres on the west coast.
economy, business and finance
electricity production and distribution
energy
energy and resource
heavy construction
heavy engineering
metal and mineral
mining
natural gas
Resources bellwether warns of clean energy constraints
Contracting group Monadelphous, a bellwether for energy and mining activity, says labour shortages continue and warns of barriers to decarbonisation.
Rate-cut hopes hit brick wall as RBA cements stance
Borrowers are being warned to not bank on any short-term relief on their mortgages as the RBA talks down hopes of an interest rate cut in 2024.
company information
construction and property
economy, business and finance
electricity production and distribution
energy
environmental issue
iron and steel
metal and mineral
mining
BlueScope backs Port Kembla steelworkers amid downturn
A major steelmaker warns of tough conditions as it braces for rising electricity, gas and labour costs amid a stubbornly soft home building market.
company information
diesel fuel
economy, business and finance
energy
oil and gas - downstream activities
petrol
retail
transport
Servo chain Ampol slashes dividend, fuel volumes fall
Energy company Ampol has slashed its interim dividend on lower fuel volumes, tanking its share price, but signalled a return to normal at its refinery.
Meeting minutes to show RBA dancing to its own beat
Markets will turn their attention to the Reserve Bank's latest board meeting minutes but they might be better off looking further afield for new insights.
Cost question remains after Qld deal with Rio Tinto
The Queensland government has struck a deal with mining giant Rio Tinto to keep a major aluminium smelter open but the question of cost remains.
banking
construction and property
consumers
economy, business and finance
housing and urban planning
interest rate
money and monetary policy
politics
real estate
unions
Building costs in the frame for ongoing housing crisis
The Reserve Bank says it is closely monitoring the housing shortage, but dismisses reports a construction union is to blame for escalating costs.
Mixed jobs data gives RBA more food for thought
Record jobs participation will keep the Reserve Bank wary of cutting rates, despite unemployment rising in July to the highest level since November 2021.
company information
dividend announcement
earnings
economy, business and finance
finance (general)
telecommunication service
Telstra open to Foxtel Group sale, profit drops 12.8%
Telstra CEO Vicki Brady has cautioned that News Corp's decision making around selling Foxtel, of which the telco owns 35 per cent, was in its early stages.
coal
company information
consumers
dividend announcement
earnings
economy, business and finance
electricity production and distribution
energy
natural gas
oil and gas - downstream activities
oil and gas - upstream activities
politics
Origin Energy eyes gas imports, longer life for Eraring
Electricity and gas giant Origin Energy warns Australia will need to import gas to meet domestic demand and taxpayers may have to pay to burn coal for longer.
‘Confusing’ jobless rise likely to stay RBA’s hand
The jobless rate edged up slightly to 4.2 per cent in July, official figures show, but record participation will keep the Reserve Bank wary of cutting rates.
coal
company information
consumers
economy, business and finance
electricity production and distribution
energy
environmental issue
natural gas
nuclear power
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.
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.
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.
Broadband speed boosts slow NBN Co’s path to profit
More copper connections have been replaced with faster fibre over the past year, NBN Co has revealed, but the broadband boost proved expensive.
‘Four for four’: Chalmers celebrates wages growth
Workers are still experiencing stronger wage growth than pre-pandemic but average pay rises have peaked and are expected to keep moderating.
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.
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.
air transport
business (general)
business enterprises
economy, business and finance
financially distressed company
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.
economy, business and finance
environmental issue
financial and business service
global warming
insurance
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.
company information
economy, business and finance
media
merger, acquisition and takeover
newspapers
television
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.
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.
air transport
business (general)
business enterprises
economy, business and finance
financially distressed company
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.
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.
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.
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.