BUSINESS

The eurozone economy grew faster than expected between July and September buoyed by Germany's surprise expansion, official data showed Wednesday, but experts warned of slow growth in the months ahead.

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.

Compared to Q2, Australia's inflation rate declined one percentage point in the September quarter and broadly aligned with expectations of being between 2-3%. The drop in the inflation rate is being attributed to lower fuel prices and energy bill discounts.

Most major global stock markets rose on Tuesday with investors looking ahead to the release of US economic data and the earnings reports of tech titans this week.

Global commodity prices should fall to a five-year low next year thanks to a huge oil glut, the World Bank said Tuesday, pointing to oversupply and to flat demand from China.

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

Albanese, however, said he behaved openly and disclosed 22 complimentary Qantas upgrades in the register of gifts to parliamentarians, and denied any wrongdoing.

Fortescue CEO Dino Otranto said soaring demand for decarbonization was increasingly threatening Australia's position as the biggest seaborne iron ore supplier.

The German CEO of major Japanese optical equipment manufacturer Olympus has stepped down after allegedly buying illegal drugs, the company said on Monday.

Global stocks diverged and oil prices tumbled on Monday as markets were relieved that Israel's strikes on Iran had avoided the country's energy infrastructure.

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.

The lawsuit, filed by The Australasian Center for Corporate Responsibility (ACCR), accused the fossil fuel company of misleading investors by "greenwashing" its net-zero claims and emissions-free blue hydrogen projects.

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.

Major European and Asian stock markets diverged Friday in a quiet end to the week's trading dominated by earnings updates.

Following a drop in global fuel prices, its first-half jet fuel costs fell to AU$2.55 billion from AU$2.7 billion, and the share price surged 1.6% to a record AU$8.04.

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.

Europe's main stock markets rose solidly Thursday thanks to well-received earnings updates and the prospect of more regional cuts to interest rates.

British bank Barclays on Thursday said its net profit jumped almost a quarter in the third quarter, helped by improved performance at its core UK and investment divisions alongside cost-cutting.

Italy's leading bank, Intesa Sanpaolo, has reached a deal with trade unions for 9,000 voluntary job cuts -- around 10 percent of its workforce -- due to the expansion of artificial intelligence (AI) and digitalisation.

Herbert will take over from Anthony Miller, who becomes Westpac's CEO on Dec. 16.

Turnkey Building Group acts as a buyer advocate, guiding clients through land purchases and serving as the main link between them and builders. Though not builders themselves, Turnkey's team helps clients navigate the market and manage the entire process.

European and Asian stock markets traded mixed Wednesday and oil prices retreated as investors focused on company earnings and the outlook for the US and Chinese economies.

Boeing will be under a spotlight Wednesday as the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking employees vote on whether to end a costly weeks-long stoppage.

Australia's two largest grocery chains appeared separately before the Federal Court on Wednesday in response to a lawsuit filed last month by the Australian Competition and Consumer Commission, which alleged they had breached consumer law regarding hundreds of common products.

The IMF revised its 2025 forecast for Australia's consumer price index to 3.6%, a significant increase from its previous 2.8% projection.

In addition, frustrated frontline workers, combined with inefficient tools and outdated IT systems, are costing Australia an estimated AU$29.5 billion in lost productivity gains.

Europe's main stock markets dropped Tuesday after gains for Chinese indices, as traders sought to ascertain the outlook for US interest rates ahead of the presidential election.

The Australia-Asia PowerLink project by Sun Cable has the potential to become the biggest solar farm and battery storage system in the world.