BUSINESS

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%."

European and Asian stock markets slid Tuesday on worries of a possible trade war between China and the United States when Donald Trump takes over as president, analysts said.

ASIC claimed in the lawsuit that more than 6,000 claims were delayed by over a year, representing half of Cbus' total claims at the time.

Rex suspended operations on 11 routes and entered administration in July, after which the airfare, including economy and discount rates, on all major city routes saw a huge spike in the quarter to September, according to the latest domestic airline monitoring report by ACCC.

During the company's annual general meeting on Tuesday, Chairman James Graham said, "In this context, it has been disappointing to see how cost-of-living issues have been politicized and targeted at supermarket operations."

Major stock markets diverged, the dollar gained and bitcoin extended a record run higher Monday, as traders took their lead from events in the United States and China.

The deal is part of Australia's bid to keep its banks in the Pacific region and ensure that a vacuum does not occur, where Chinese banks can move into.

The dispute was believed to be centered around tax payments and the potential renegotiation of contracts between Resolute and the Malian authorities.

Jim Chalmers said Monday, "The direct impact on Australia would be relatively mild, but the broader impact on our major trading partners and on the global trading system might be more significant, and in that regard, that is a little more concerning to us."

US Federal Reserve Chair Jerome Powell said Thursday that he would not resign if asked to leave early by President-elect Donald Trump.

A Qantas plane made an emergency landing Friday due to engine failure soon after taking off from Australia's Sydney Airport, sparking a grassfire on a nearby runway and causing several flights to be diverted.

The vendors, who were highly reliant on Coles, Woolworths and Aldi, see their efforts dwarfed by supermarkets' tactics, forcing them to restrict their business to the domestic market, the industry's peak body told the ACCC.

Chinese exports surged last month at their fastest pace in more than two years, data showed Thursday, easily topping forecasts and providing optimism about the economy as officials steel for a potential US trade war after Donald Trump was re-elected president.

Governor Michele Bullock Bullock said the RBA had reviewed some of Trump's policies, including a 60% tariff on China, but it remained uncertain whether he will implement them.

Although its clients were surviving the economic downturn, NAB, the country's biggest business lender and third-largest retail lender, stated that an increase in late loan repayments among residential and commercial borrowers was concerning.

"It is still early days, but there will be change at Nine and individuals will be held to account for behaviour of this nature," interim CEO Matt Stanton said at the annual general meeting. "The Board and management are absolutely united on the need to accelerate change and to support workplace reform."

The consolidation, finalized in December, will combine approximately 1,000 retail stores and 16 distribution centers across Australia and New Zealand.

The government had initially expected to implement the new rules by July 1, 2024; however, industry stakeholders now expect the policy to be introduced possibly by late next year, likely after the next federal election.

ATO data showed that the net super disparity -- the portion of existing unpaid super gap even after the recovery attempts -- has dropped from 6.7% in 2022-23 to 6.3% in 2023-24. However, the total unpaid super has increased to AU$5.2 billion this year, compared to AU$4.8 billion in the previous year.

Major stock markets rose and the dollar remained under pressure Tuesday as the United States votes in a knife-edge presidential election.

Striking workers at Boeing approved a new contract proposal on Monday, ending a more than seven-week stoppage that had cost the beleaguered aviation giant billions.

Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on Tuesday, citing prices which have stayed low despite production cuts and war in the Middle East.

Mark van Dyck, who has previously served as the Asia-Pacific leader at Compass Group, will take over as Domino's chief from Wednesday.

RBA's latest decision to keep interest rates at a 12-year high of 4.35% was met with a silent market reaction, as seen by the Australian dollar's steadying around $0.6595.

Irish budget airline Ryanair reported falling net profit for the second quarter on Monday and revised down its passenger growth target following delays in deliveries of Boeing aircraft.

Even while it mostly impacted Westpac's business and wealth division, the company's profits improved by 13% to AU$2.4 billion because of more lending to businesses in the fields of professional services, health care, and agriculture.

Global stock markets diverged Friday after tame tech earnings and investor jitters less than a week before a neck-and-neck US presidential election.

Qantas and Virgin Australia used carried-forward pandemic losses to dodge taxes in 2022–2023, while Netflix Australia made nearly AU$1.15 billion in the 2023 fiscal year without paying taxes.