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...
View Article‘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...
View ArticleAMP 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...
View ArticleHouse 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,...
View ArticleComm 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...
View ArticleQantas 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...
View ArticleReserve 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...
View ArticlePetrol 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,...
View ArticleStar 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...
View ArticleBudget 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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