BUSINESS

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In addition, frustrated frontline workers, combined with inefficient tools and outdated IT systems, are costing Australia an estimated AU$29.5 billion in lost productivity gains.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

The sale follows closely on the heels of rival airline Jetstart announcing a massive sale forClub Jetstar members, with fares as little as AU$26.

The one-year plan, which came into effect from Monday, was aimed at helping the housing industry build more homes for both buyers and renters across the state, Premier Jacinta Allan said.

Australian mining giant BHP goes on trial on Monday over one of Brazil's worst environmental disasters, potentially triggering billions of dollars in compensation to be shared among hundreds of thousands of plaintiffs.

Major stock markets dropped Monday and oil prices jumped as traders weighed fresh interest-rate cuts from China's central bank aimed at reigniting the world's second-biggest economy.

French drugmaker Sanofi's Monday confirmation that it plans to sell a controlling stake in its over-the-counter unit to a US investment fund sparked a new political backlash, stoked by fears the deal marks a loss of sovereignty over key medications.

Federal Court Judge Michael Lee has ordered Qantas to pay three impacted workers AU$30,000, AU$40,000, and AU$100,000, respectively, for "non-economic loss."

Most Asian and European stock markets rose Friday after Chinese economic growth data beat forecasts and officials flagged fresh measures to boost the world's second biggest economy.

The acquisition by Louis Dreyfus Company was finalized following a year-long bidding war and a nod by the Australian Competition and Consumer Commission.

When asked about policy changes that could lower living costs, 64% of respondents suggested increasing competition among the major supermarkets and reducing utility costs. While, 60% called for lower medical expenses, 58% advocated for faster wage growth.

Public listings on Wall Street have seen a slow comeback in 2024 despite a resilient US economy, a long-awaited interest rate cut by the central bank and stock valuations hitting record highs.

Paris and Frankfurt stock markets climbed and the euro traded mixed Thursday before an expected interest-rate cut from the European Central Bank as the eurozone faces weakening economic activity and falling price pressures.

Taiwanese chip giant TSMC announced a bigger-than-expected increase in net profit for the third quarter on Thursday and raised its growth forecasts for the year on "extremely robust" demand for AI technology.

Philip Crawford, NICC chief commissioner, said The Star was found to have repeatedly violated compliance protocols and that operations inside the business "fell short of suitability."

MA Financial's joint CEO Julian Biggins stated the investment will support the company to bridge key gaps in the country's underserved residential market.

Australia's economy added 64,100 jobs in September, whilst the prediction was of 25,000. The key driving factor of the growth was 51,600 new full-time positions.

Major Asian and European stock markets mostly fell Wednesday after concerns about the red-hot semiconductor industry fuelled a tech sell-off.