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House price slide accelerates as coronavirus uncertainty continues

The coronavirus-induced slide in Australian housing values accelerated in June, as more sellers put their homes on the market. CoreLogic’s monthly home value index showed a 0.7 per cent fall in values...

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‘Bumpy path ahead’: Virus containment key to economic recovery, says Reserve...

The Reserve Bank governor says Australia’s economy has passed its low point but faces a “bumpy path ahead”, with the federal government best placed to support the recovery. In an annual speech to the...

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AMP chair, director resign amid shareholder revolt over handling of sexual...

AMP chairman David Murray has resigned, effective immediately, as has AMP director, and former treasury secretary, John Fraser. The financial services company has been rocked by a series of sexual...

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House prices bounce in September, except for continued falls in Melbourne and...

House prices have fallen nationally over September, but rose everywhere except the two big markets of Melbourne and Sydney. CoreLogic’s national home price index showed a 0.1 per cent fall last month,...

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Comm Bank profit plunges after virus recession, low interest rates hit margins

The Commonwealth Bank of Australia has recorded a 21 per cent drop in its net profit amid the nation’s first recession in almost three decades. CBA reported a net profit after tax of $4.88 billion for...

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Qantas posts $1 billion six-month loss

Qantas has posted a $1.08 billion half-year loss, following a dramatic $6.9 billion plunge in revenue due to continued travel restrictions. The net loss before tax was $1.47 billion, but the airline...

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Reserve Bank leaves interest rates at historic low

The Reserve Bank has left interest rates unchanged at a record low 0.1 per cent, maintaining its commitment to supporting the economy through unprecedented stimulus. Interest rates have been at 0.1 per...

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Petrol prices are on the rise, but don’t blame the new Suez crisis

The blockage of the Suez Canal by a grounded container ship may disrupt world trade, but is unlikely to push fuel prices higher in the short term, experts say. Giant container ship, the Ever Given,...

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Star launches Crown casino merger bid, in attempt to create $12 billion...

Casino operator The Star Entertainment Group has submitted a merger proposal to main rival Crown Resorts. The non-binding proposal offers 2.68 The Star shares per Crown share, which Star said valued...

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Budget spending cuts likely once COVID recovery complete, Treasury secretary...

Big budget cuts are likely once the economy has fully recovered from COVID-19, with the Treasury secretary revealing an 8 per cent cut in federal government spending is needed to eventually balance the...

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