BUSINESS

Individuals affected by this change will be required to switch to electronic payment methods to send foreign currency.

European Central Bank chief Christine Lagarde said Monday eurozone policymakers would keep cutting interest rates and warned that higher US tariffs under President-elect Donald Trump could hit growth in the bloc.

The US Federal Reserve is widely expected to announce a quarter point cut to its key lending rate on Wednesday despite a recent uptick in inflation, in the central bank's last meeting of Joe Biden's presidency.

Based on PropTrack figures, homes priced under AU$600,000 are increasingly difficult to find, and properties under AU$400,000 are nearly disappearing in the country's five largest cities.

According to Finder's latest research, the average Australian plans to spend AU$1,357 on Christmas, which constitutes AU$28.4 billion nationwide. Compared to the average spend of AU$1,479 (AU$30 billion countrywide) in 2023, this indicates an 8% decrease.

AMP's decision comes as the AU$4 trillion retirement savings industry has largely shunned the asset class, citing concerns over its unpredictable nature.

Stock markets diverged Friday as traders were disappointed by China's latest boosts to its beleaguered economy and looked ahead to a key US Federal Reserve meeting next week.

An estimated 5.8 million people are expected to pass through Sydney Airport between Dec. 13 and Jan. 27 -- nearly half a million more than last year.

A research, commissioned by Australian Seniors, found that the pension was only covering 76% of the total lifestyle expenses, with seniors getting caught in the tight choice between buying essential items and discretionary spending for future savings,

Since March 2022, more people have been moving to regional Australia, driven by high property prices and cost-of-living pressures in the cities, according to recent reports from the Regional Australia Institute and the Commonwealth Bank.

Apple Intelligence will also introduce the ChatGPT feature directly into Siri and Writing Tools, which will allow users to generate content without switching between programs, from serious correspondence to imaginative writing.

The Swiss central bank announced an unexpectedly large interest-rate cut on Thursday, citing rising "uncertainty" about the economic outlook due to the potential impact of Donald Trump's policies and political turmoil in Europe.

CHOICE compared prices at 104 supermarkets, and found that a basket of 14 essential items cost an average of AU$50.63 at Aldi.

Virgin Australia chief executive Jayne Hrdlicka said the partnership with Qatar Airways was a game-changer, "driving benefits to consumers, the economy and Australian aviation."

Nippon Steel on Wednesday slammed the "inappropriate" influence of politics on its planned takeover of US Steel after a media report said President Joe Biden would block it.

Stock markets struggled for direction Wednesday as traders awaited key US inflation data with the Federal Reserve expected to cut interest rates next week.

AirTrunk, an Australian data company, has made headlines by awarding a remarkable AU$22 million in bonuses to its 330 employees, celebrating its acquisition by U.S. private equity powerhouse Blackstone

The survey polled Australians ranging between the ages of 18 and 59, and found that the Gen Z population and Gen Y were inclined toward taking up a side hustle rather than reducing their expenditure to support an affluent lifestyle.

Car giant Stellantis and Chinese manufacturer CATL said Tuesday they would build a $4.3-billion factory to make electric vehicle batteries in Spain, the latest bid to boost Europe's troubled EV drive.

Air passenger numbers are forecast to top five billion for the first time next year and the sector's revenues will break the trillion-dollar barrier, the global aviation body IATA said on Tuesday.

Amazon Australia customers may be able to place their orders by Dec. 22. Prime Membership holders who reside in a few large cities and regional locations, such as Sydney, Melbourne, Brisbane, Perth, Adelaide, and Canberra, are covered by this.

In the run-up to the new year, the public can participate in the online survey, which was hosted by Triple J, a national youth radio station in Australia.

Despite these regulatory hurdles, Australia's crypto ownership is higher than the global average, with 17% of Australians owning cryptocurrency.

According to e-commerce delivery platform Shippit, Truganina in Victoria is the worst affected suburb, with 58.8% of people reporting late deliveries. Kwinana Town Centre in Western Australia follows closely behind at 33.9%, while Broadway in New South Wales ranks third at 31%.

Customers taking part in the challenge will also receive a Dalgona Candy, a treat that is featured in the show.

In the statement, the minister for Social Services, Amanda Rishworth, said, "We want to reduce disadvantage and maintain Australia's strong and sustainable social safety net by providing relief to those most in need. Through indexation, payments are adjusted in line with cost of living changes to ensure people have more money in their pockets."

A US judge rejected a criminal settlement with Boeing over the 737 MAX crashes on Thursday, slamming diversity policies at the aviation giant and the Justice Department that made him "skeptical" of a fair outcome.

Asian markets mostly fell Friday at the end of a volatile week, with South Korean stocks and the won still under pressure with the president's job hanging by a thread as he faces impeachment.

According to the latest figures from the Australian Bureau of Statistics, the average annual salary for full-time workers in Australia is currently AU$103,812, while the median salary -- the figure that represents the "middle" earnings -- is AU$88,920.