BUSINESS

ATO recently revealed that 178 Australians under 30 reported superannuation balances exceeding AU$2 million in the 2021-2022 financial year, despite taxable incomes starting at just AU$18,200.

Shares of AI-focused companies like Appen, a software firm, and Brainchip, an AI chipmaker, saw significant drops. Appen fell by 3.3%, while Brainchip dropped by 10.3%.

Universal Music Group, the world's largest music company, and streaming behemoth Spotify on Sunday announced a multi-year direct deal that will affect both recording and publishing royalty rates.

The Russian subsidiary of French supermarket chain Auchan quashed rumours of an impending sale on Monday, saying it continued to operate for the benefit of the local population.

"If the trimmed mean inflation rate cools in line with our expectations it will be very hard for the RBA not to cut rates at its February meeting," AMP chief economist Shane Oliver said.

To give more travelers the chance to travel in premium economy, Emirates intends to raise this percentage to 50% of all flights by the end of March, the airline said.

The communication minister acknowledged that customers who were unable to access full fiber network speeds were diverting toward Musk's Starlink, which offered speeds of 20-100 Mbps monthly for AU$139/month + AU$599 hardware competing with NBN's fiber speeds (50 Mbps) at AU$105/month.

The rapid success of DeepSeek has particularly piqued interest due to two main factors: cost-effectiveness and the ability to operate on lower-capability chips, which contrasts with the high resource demands of many leading AI systems.

Global stock markets rose Friday after a record day on Wall Street in response to US President Donald Trump's tax-cut pledge and his more friendly comments with regard to China.

Italian bank Monte dei Paschi di Siena said Friday that it was launching a bid for its larger rival Mediobanca, a potential 13.3 billion euro ($13.9 billion) deal that could help reshape the country's banking sector.

Supermarket giant Coles axed its unpopular Special Burger Sauce Hot Cross Buns, replacing it with a sweeter, limited-edition Hot Cross Bun, drawing inspiration from the iconic Wagon Wheels biscuit.

Meta-owned Instagram has been wooing creators from TikTok as the China-based video-snippet sharing app's future remains uncertain in the United States.

Global stock markets mostly rose Thursday following a tech-fuelled rally on Wall Street spurred by US president Donald Trump's massive AI-investment announcement.

The closure, which will result in the loss of 650 jobs, marks the latest chapter in the company's ongoing financial struggles.

The new changes also come with an increase in point requirements for reward seat redemptions and higher fees. From August 2025, frequent flyer members will need to use more points to book both domestic and international reward flights, as well as upgrades.

Although the sun may be setting on the era of free trade, crypto supporters say a new dawn is rising for digital currencies thanks to US President Donald Trump.

At Yongfeng Group's aluminium formwork facility, advanced recycling processes are designed to optimize efficiency, ensuring the material retains its quality and performance after every cycle.

European and Asian stock markets diverged Tuesday and the dollar rallied as Donald Trump wasted no time in starting his second term as US president with a raft of announcements affecting the global economy.

Sales of electric cars slid last year in Europe in an otherwise stable market, data from carmakers showed Tuesday.

Macquarie, Australia's fifth-largest lender, will now offer a one-year fixed rate of 5.55% for owner-occupiers paying principal and interest, provided they have at least a 30% deposit.

"Capital city prices have increased substantially, making them less accessible for many buyers – in contrast, regional markets remain relatively affordable, which has kept demand metrics stronger there," Cameron Kusher, PropTrack's Director of Economic Research said.

Australian energy market is set to undergo a significant shift, which brings consumers under complex power pricing plans. These plans, including dynamic tariffs, aim to reduce energy consumption during peak hours when production costs are higher.

The closure will affect 200 jobs, while around 100 e-commerce staff will be redeployed to Kmart to make the most of Catch's existing warehouse infrastructure.

European and Asian stock markets rose on Monday and bitcoin soared to a new high as Donald Trump prepared to re-enter office as president of the world's biggest economy.

The bank revealed on Monday that 14 branches will close between Feb. 7 and 27 in Queensland, Western Australia, New South Wales, and Victoria, in addition to the two closures already scheduled for next month.

Australia's 47 billionaires boosted their wealth by an incredible AU$28 billion in a single year, which was an astounding AU$3.2 million every hour.

The Grattan Institute said in a recent report that Australia's superannuation system was at risk of becoming a "massive inheritance scheme" rather than a retirement funding mechanism.

Proposals to remove credit card surcharges have been met with criticism from major Australian airlines Virgin Australia and Qantas, who have warned of possible price rises for customers.

For small businesses, success often comes down to balancing many different tasks, like managing customers, employees, and suppliers. Given the economic challenges over the past year, it's no surprise that many Australian SMBs have felt the pressure on their cash flow, according to Rebecca Warren, Executive General Manager of Small Business Banking at CBA.