Vidhya CK

"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.

Independent MPs Zali Steggall and Kate Chaney were of the opinion that the legislation was favourable to major parties, while limiting competition.

"My focus will be on promoting Australia's national interests, which are about free and fair trade," Albanese told reporters on Friday, adding that strengthening Australia's engagement with economic partners in the region would be a priority.

However, the country maintained its position on final-status issues, including borders, security, and Jerusalem, which must be addressed through negotiations towards a two-state solution.

"We estimate that the average Australian consumer could be eligible for a refund ranging between $200 and $1300-plus, depending on their shopping habits and purchases at these retailers," the law firm's chairman, Gerard Malouf, said.

Under the new Tobacco Amendment (Tobacco Retailer and Wholesaler Licensing Scheme) Bill, which the government plans to pass by the end of the year, individuals found selling tobacco without a license could face fines of up to AU$355,000 or 15 years in prison, while businesses could be fined up to AU$1.7 million.

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.

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

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.

"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 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.

The plan includes extending the Continuation Bonus for permanent members of the Australian Defense Force (ADF) and increasing the ADF's Operational Reserves by an additional 1,000 personnel to strengthen and sustain a highly skilled workforce.

Speaking to reporters in Canberra, Foreign Minister Penny Wong emphasized that the federal government would continue to maintain a cooperative relationship with the U.S., regardless of which candidate won.

The police investigation, known as Operation Alesia, was looking into whether former PwC Australia employees disclosed official secrets, with the search expecting to last several days.

As the new changes take effect on June 1, 2025, an average graduate with a loan of AU$27,600 will have AU$5,520 removed from their debt.

While households increased their spending on groceries and healthcare, there was a 1.8% decrease in spending on new clothes and shoes, reversing the 0.2% growth reported in August.

Optus indulged in improper sales practices, including pressuring consumers to buy many expensive products without checking if they had coverage in their area.

The inquiry found that the average price of nine essential items, including penne pasta, beef mince, teabags, carrots, and Weet-Bix, at Woolworths, Coles, Aldi, and IGA across all Australian capital cities was AU$44.70. In comparison, the same items cost AU$99.38 in the four remote communities.

A handful of industry funds accounted for most of the spending, with AustralianSuper being the largest marketing spender in the 2022-23 financial year, spending a total of AU$60.2 million. Queensland-based Australian Retirement Trust ranked as the second largest spender on marketing, investing AU$41.8 million.

The company predicted that its earnings from its Australian food division, before interest and tax, to be between AU$1.48 billion and AU$1.53 billion in the December half.

Myer will acquire the retailers by issuing 890 million new shares valued at AU$863.78 million, which was over 51% of the company.

The inquiry report also highlighted the nation's "grossly inadequate" handling of the COVID pandemic. "The first lesson from this report is that like most countries, frankly, our pandemic plans were grossly inadequate for the scale of the challenge that COVID-19 presented to us," Health Minister Mark Butler said.

A book named "The Chairman's Lounge" revealed that Albanese declared flight upgrades on around 20 Qantas flights between 2009 and 2019, during his time as transport minister, shadow transport minister, and opposition leader.

According to the company's statement to the Australian Securities Exchange (ASX) on Monday, a "small number" of stakeholders did not agree to support the restructuring plan or negotiate a deal, due to which, a satisfactory solution could not be found.

RBA governor Michele Bullock announced the central bank incurred a loss of AU$4.2 billion, during 2023-24, recording its fourth consecutive year of accounting losses. The bank suffered shortfalls of AU$6 billion in 2022-23, a record AU$36.7 billion in 2021-22, and AU$4.3 billion in 2020-21.

"We share a vision for a modern and transformed Australia-United Kingdom relationship, which delivers tangible benefits and prosperity to both our nations and the Indo-Pacific," Prime Minister Anthony Albanese said.

Critics of the 3% buffer said that it prevented potential borrowers from obtaining home loans because it required them to demonstrate the ability to manage a much higher mortgage than the set interest rates.