Meta’s landmark trial could dismantle huge tech empire
Meta faces a historic antitrust trial which may force it to break off Instagram and WhatsApp, startups it bought that have become social media powerhouses.
financial and business service
Don’t be spooked by sliding super, funds warn members
Australians are being urged not to panic about their retirement incomes after Donald Trump's trade war sent global markets into a tailspin.
Calls mount for RBA to intervene with jumbo rate cut
Markets are betting the Reserve Bank will cut rates by 50 basis points at its next meeting as American tariffs batter the global economy.
Long wait for refunds of ‘gobsmacking’ unlawful fees
Everything from fine payments to marriage certificates have been hit with wrongful merchant surcharges in NSW over eight years.
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Small businesses are fighting with tech giants after being locked out of accounts or waiting for payment and want a reboot on how their complaints are handled.
Fund sent $511k to CFMEU ahead of criminal allegations
APRA dropped an investigation into a super fund that paid over $500,000 to the CFMEU but took action again after reports of the union's alleged criminal links.
Fight to save jobs as The Star’s casino empire teeters
Star Entertainment's financial woes have fuelled concerns for the future of thousands of casino jobs.
APRA fight with CFMEU-linked super fund ‘unreasonable’
Moves by the financial regulator to impose stricter conditions on a super fund connected with the CFMEU will be attacked in the Federal Court.
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.
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.
Transurban eyes raising dividend as toll traffic rises
Transurban says it expects to raise its 2024/25 distribution by five per cent, after making $2.6 billion in operating earnings in 2023/24.
Insurers leaving flood-prone communities high and dry
Regional councils at risk from flooding have revealed the impact of rising insurance costs on their communities at a Senate hearing.
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.
Family claims $1.4m loan ‘blighted’ 89yo woman’s life
Pepper Money has been sued over an "unjust" $1.4 million home loan which allegedly threw an elderly woman and her family into financial and emotional distress.
Pacific banking bolstered with federal $6 million boost
Banking services in Pacific nations will be strengthened with $6.3 million from the federal government, as Australian financial services are urged to stay.
Two cryptocurrency companies collapse owing $160m
Two separate Australian cryptocurrency companies have collapsed while federal court proceedings are being pursued against the directors of the businesses.
Bank boss tips living costs to ease, defends big profit
Most customers of Australia's biggest bank are well positioned despite a cost of living crisis, its chief says after the company booked a $10.2 billion profit.
Feeble retail sales growth reflects stretched consumers
Consumers appear to be spending more cautiously in a sign the Reserve Bank's mission to reduce inflation is working as intended.
Sluggish retail data could keep rate hike cycle at bay
Retail trade and job vacancy figures will paint the Reserve Bank a clearer picture of the economy's health ahead of a crucial cash rate decision.
Treasurer rules out any relief from petrol price pain
Drivers aren't likely to get federal relief to lower petrol prices, the treasurer says, despite the higher prices at the bowser.
Lacklustre lift in August retail trade
Consumers appear to be spending more cautiously and the number of vacant jobs has fallen further, new data from the Australian Bureau of Statistics shows.
Magellan names new chairman amid big drop in profit
Andrew Formica will take over as Magellan chairman from Hamish McLennan as the fund manager announced its full-year profit dropped 57 per cent to $174 million.
CBA posts record profit as mortgage borrowers cling on
As rising interest rates boost Commonwealth Bank profits, consumers appear relatively resilient with mortgage arrears remaining low.
Suncorp Group posts bumper jump in full-year profit
Suncorp Group says it still hopes to sell its banking division to ANZ but regulatory delays will cost it between $75 million and $100 million.
PwC sells government arm amid questions over conflict
PwC Australia and Allegro Funds have agreed on terms for the sale of the former's government consultancy business to the private equity firm for a nominal $1.
Tainted PwC partners and staff to be publicly named
As PwC appoints a new CEO and offloads its government business, an inquiry has heard an investigation into the tax scandal will name culprits.
Bank of Queensland addresses CEO’s exit
George Frazis' sudden removal as CEO last week was "not ideal," Bank of Queensland's chairman has conceded to shareholders at its AGM.
CBA profit jumps to nearly $10 billion
Australia's biggest lender has lifted its annual profit by 11 per cent and declared a final dividend of $2.10 a share.
BoQ tech boost for fully digital bank
Bank of Queensland plans to roll out a new banking platform for customers and has expanded its partnership with Europe-based tech provider Temenos.
Teen cyclone survivor confronts bank boss
A school boy cyclone survivor has challenged a bank boss to do more on climate change, interrupting an elite business summit to call out "ridiculous" lending.
Population level on a lower track: RBA
RBA assistant governor for economics Luci Ellis does not expect the population level to catch-up to the numbers lost during the period of closed borders.