BUSINESS

Major Asian and European stock markets mostly fell Wednesday after concerns about the red-hot semiconductor industry fuelled a tech sell-off.

Britain's annual inflation rate fell to a three-year low in September, official data showed Wednesday, fuelling speculation that the Bank of England will resume cutting interest rates next month.

Albanese announced that the government will soon legislate "specific prohibitions of a range of dodgy practices," under the Australian consumer law aimed at improving fair competition and transparent pricing, and alleviating the financial pressures faced by the country's residents.

With a global real assets portfolio totaling nearly AU$60 billion, this investment would mark AustralianSuper's first entry into the U.S. data center market and make it the second investor in DataBank, after DigitalBridge.

Oil prices tumbled more than five percent Tuesday after a report said Israeli Prime Minister Benjamin Netanyahu told US President Joe Biden he would not strike Iran's crude or nuclear facilities.

Foodbank chief executive officer Breanna Casey stated 48% of low-income households were now experiencing food insecurity, with half the number spending less on essentials such as fresh produce and protein.

The Australian government was investing heavily to address housing affordability issues in Queensland, with a whopping AU$845 million allocated to build over 1,000 new homes across seven locations in and around Brisbane. These locations include Stones Corner, Woolloongabba, Chermside, Redcliffe, Toowoomba, and Southport.

The move follows Reserve Bank of Australia's (RBA) estimates that annual surcharges total around AU$1 billion per annum, with some estimates suggesting the figure could even touch the AU$4 billion mark.

Major stock markets shrugged off weak data from China on Monday following a pledge by the country's finance minister to boost the world's second-biggest economy, but oil prices fell.

The European Central Bank is expected to lower interest rates again this week as anxiety about inflation in the eurozone fades and concerns over sluggish growth mount.

The airline's financial basis was strengthened as Qatar Airways completed its 25% equity purchase, bringing Virgin Australia one step closer to returning to public ownership.

Apart from St George, Westpac's other subsidiaries -- Bank of Melbourne and Bank SA -- were also affected by the blackout.

According to Canstar's report, 42 lenders have reduced their fixed rates in the last month, with the lowest fixed rate on the market being 4.99% on a three-year term offered by SWS Bank.

After years of talking up Tesla's prowess on autonomous driving, Elon Musk is set to host Thursday a much-hyped robotaxi event amid a mix of anticipation and skepticism.

RBA Deputy Governor Andrew Hauser argued that a central bank needed to build strong bonds with business, unions, government organizations and the financial sector.

Investor and owner-occupier interest-only fixed rates have been slashed by up to 0.65 percentage points, while owner-occupier principal and interest fixed rates have been lowered by up to 0.50 percentage points.

World oil prices rallied more than two percent Monday as tensions escalated in the crude-rich Middle East one year after the deadly Hamas attacks on Israel.

Top Chinese economic policymakers are expected to flesh out a raft of growth-boosting policies on Tuesday, after the announcement of long-awaited stimulus measures last month sparked a blistering stock market rally.

Sydney and Brisbane saw the highest number of new suburbs reporting homes and units priced above AU$1 million, with 46 new suburbs added in each city.

The Tax Office redefining the term for "beer" might result in higher taxes on brewed beverages such as lagers, ginger beers, and seltzers.

Oil prices rose further Friday as tensions mount in the Middle East, while Hong Kong's stock markets resumed a rally caused by China's recently-announced measures to stimulate its economy.

Hiring in the United States picked up significantly more than expected in September while the jobless rate crept lower, according to government data released Friday, offering relief to policymakers ahead of November's election.

In 2023, the eSafety Commissioner had issued the AU$610,500 fine for failing to effectively respond to questions regarding harmful content involving children on its platform.

"It has become clear that the hydrogen market is developing more slowly than anticipated, and there remain risks and both input cost and technology advancements to overcome," Origin chief executive Frank Calabria said.

Law firm Maurice Blackburn brought triple class action claims against ANZ, Westpac, St George Finance, and Macquarie Leasing over alleged exploitation of flex commission arrangements, which were banned in 2018.

US private sector hiring picked up in September, with employers adding more jobs than anticipated, according to data released Wednesday by payroll firm ADP. ADP data showed private sector employment rose by 143,000 jobs, significantly higher than the 120,000 figure that a consensus by Briefing.com expected.

OpenAI did not name the investors, but reports said that the funding round was led by New York-based venture capital firm Thrive Capital, including the company's biggest backer Microsoft and new participants, chipmaker Nvidia and SoftBank, among others.

Now, Tesla's Model 3 Long Range Rear-Wheel Drive is the most affordable, with a price of $42,490.

Toyota will be delaying the production of its EVs in the U.S. amid design issues and slow EV sales.