BUSINESS

BioCatch Trust Australia will be used to assess whether customers of the Commonwealth Bank of Australia, National Australia Bank (NAB), ANZ Group Holdings, Westpac, and Suncorp Bank were legitimate or fraudulent.

The US government late Wednesday asked a judge to order the dismantling of Google by selling its widely used Chrome browser in a major antitrust crackdown on the internet giant.

The government is providing up to AU$80 million to support Rex's regional routes during this period, recognizing the airline's vital role in regional Australian communities.

Treasurer Jim Chalmers and Finance Minister Katy Gallagher confirmed in a joint statement that the fund's main goal was to maximize returns, with the growth rate benchmark and risk profile remaining unchanged.

The current gender pay gap is 21.8%, meaning women earn 78 cents for every dollar earned by men, resulting in an average annual income difference of AU$28,425 less for women.

Major European and Asian stock markets mostly gained and the dollar firmed against main rivals Wednesday following a positive lead from Wall Street, as all eyes turned to upcoming results from artificial-intelligence giant Nvidia.

The rate of business failure increased to 5.04% in October, the highest level since the peak of the COVID-19 pandemic in 2020, when it was 5.08%.

Walmart reported a jump in third-quarter profits Tuesday behind solid US sales and gains in its e-commerce business as the retail behemoth lifted its full-year financial forecast.

Following the OAIC's report, Bunnings released a video compilation showing incidents where customers threatened staff with weapons and physically assaulted them.

Following the allocation of the funds, Industry Minister Ed Husic said, "What we don't want to see is Australian firms leaving our shores because they don't get the support they need at the right times."

As underlying inflation remained "too high," RBA noted that it wanted to see consistent inflation data before considering a rate cut, to ensure any decline was sustainable.

Markets rose Tuesday after a broadly positive day on Wall Street, with focus turning to the upcoming release of tech giant Nvidia's earnings, while traders also kept tabs on Donald Trump's picks for his new administration.

Young Australians, aged 18 to 29, reduced their expenditure by 2% year over year in the third quarter of 2024, with significant drops in both essential (by 2.3%) and discretionary (by 1.9%) spending.

European and Asian stock markets traded mixed Monday following a pre-weekend retreat on Wall Street as investors scaled back bets on US interest-rate cuts, fearing Donald Trump's policies could reignite inflation.

"Mortgage arrears rates have risen, but they remain low and at similar levels in Australia and the United States," Christopher Kent, assistant governor of Reserve Bank of Australia, said. "This is despite the significant rise in required mortgage payments in Australia."

Starting Jan. 1, 2026, businesses providing essential goods and services, such as groceries, fuel, banks, and utilities or health services, will be required to accept cash, with some exemptions.

The corporate watchdog accused NAB and its subsidiary AFSH Nominees Pty Ltd of violating the regulations between 2018 and 2023, during which the bank failed to respond to 345 customer hardship applications within the mandatory 21-day timeframe.

Though NAB had initially predicted the Reserve Bank of Australia (RBA) would cut interest rates in February 2025, now, that doesn't seem like a possibility before May 2025.

Global stock markets mostly struggled Friday after US Federal Reserve boss Jerome Powell indicated a slower pace of interest-rate cuts.

Britain's economy grew less than expected in the third quarter, official data showed on Friday, dealing a blow to the Labour government that has set its sights on growth expansion.

Australia's long service leave entitles employees to receive 2-13 weeks' paid leave after 10 years of service with a single employer, varying by state or territory, with the provision for employees to receive a proportionate (pro-rata) payment for unused leave entitlements when they leave their job.

Stock markets diverged on Thursday as investors digested US inflation data that supported the case for another interest rate cut next month, while worries over Donald Trump's presidency clouded optimism.

Troubled British fashion house Burberry on Thursday announced cost-cutting plans after posting a loss, with the global luxury sector pressured by weak Chinese demand.

The Australian Bureau of Statistics revealed that the number of people with full-time jobs increased by 9,700 last month, while the part-time rose by by 6,200, taking the total growth to 15,900.

US President Joe Biden and his Chinese counterpart Xi Jinping arrive Thursday in Lima for an Asia-Pacific summit overshadowed by the prospect of a world embroiled in trade wars under Donald Trump.

Retail banking expanded with 121,000 new transaction accounts, while home loans saw an increase of AU$8.6 billion.

Global stock markets diverged Wednesday as traders fret over the impact of Donald Trump's presidency on the Chinese and global economies, with fears that his policies could also reignite US inflation.

The Japanese owner of 7-Eleven said Wednesday its founding family had offered a counter-bid to a takeover attempt by Canadian convenience store rival Alimentation Couche-Tard (ACT).

"The latest decision of a 3.75% wage increase paid from 1 July 2024 was lower than the September quarter 2023 increase of 5.75%," noted the ABS head of prices statistics Michelle Marquardt. "It was also lower than the commission's September quarter 2022 awarded increase of between 4.6% and 5.2%."