BUSINESS

The Bank of England on Thursday kept its key interest rate at 4.75 percent, deciding against a cut in line with the US Federal Reserve, as UK inflation rises again.

Student loans will now be adjusted annually based on the lower rate between the Wage Price Index (WPI) and the Consumer Price Index (CPI). This modification is effective retroactively for the previous two fiscal years.

Australia's household wealth surged 9.9% to a record $16.9 trillion, driven by rising house prices, strong superannuation growth, and a booming share market.

Stock markets mostly climbed and the dollar steadied against main rivals Wednesday with the US Federal Reserve set to cut interest rates.

The promotional stunt, organized by the Libertarian Party, aimed to protest the government's fuel taxes, which currently added 55 cents per litre to the cost of petrol.

According to Canstar's insights director, Sally Tindall, the cycle of cutting fixed rates appears to have paused for now. However, she suggests that there could be some relief in the new year, with potential rate cuts offering much-needed support to homeowners.

ACCC's warning followed a concerning report from The Salvation Army, which found that 29.9% of Australians "will struggle to pay their rent or mortgage this Christmas." The report also revealed that one in five people has had to skip medical care to afford Christmas expenses.

According to Afterpay's latest "Afterpaid" report, clothing, and fashion items such as crocs, trainers, leggings, and loungewear were flying off the shelves, with red items seeing a 24% jump from 2023.

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.