BUSINESS

European and Asian stock markets diverged Monday as investors digested weak eurozone economic data and an interest rate cut by China's central bank.

"The Reserve Bank should lower interest rates tomorrow and if they don't, the Treasurer should use his existing powers to bring down interest rates and relieve pressure on mortgage holders," Greens demanded.

The ACCC also brought up allegations that the supermarkets, apart from the deceptive pricing practices, inflated prices on certain products, only to advertise them as "on sale" at a higher price than the original, affecting millions of units.

"The cost of living crisis has meant that Australians aren't turning up to the pubs, they don't have the disposable income they used to," Nationals Leader David Littleproud said on Sunday. "Then when you couple that with the six-monthly increase in excise, that's putting beer out of the reach of many Australians."

REA Group, the Australian online property website majority-owned by Rupert Murdoch's News Corp empire, said Monday it has made a third multi-billion-pound offer to buy British peer Rightmove.

Global stock markets diverged and the dollar was mixed against main rivals Friday following an equities rally triggered by a jumbo US interest rate cut this week.

UK state debt is as big as the country's economic output for the first time since the 1960s, data showed Friday, as the new government warns of tough fiscal decisions before its maiden budget.

Beneficiaries will include those on the jobseeker payment, age pension, disability support pension, carer payment, family tax benefit, and commonwealth rent assistance.

Woolworths had announced its plan to invest NZ$400 million (AU$367 million) to rebrand nearly 200 stores over the next three years. However, the company's New Zealand profit had dropped by 57% to AU$108 million in the 12 months to June 30, compared to last year.

Analysts at the Institute for Energy Economics and Financial Analysis (IEEFA) assessed the plan's potential fallout on local families, and found out that typical households could see electricity bills rise by an average of AU$665 per year to cover the cost of establishing the power plants.

The Bank of England on Thursday kept its key interest rate at 5.0 percent, deciding against consecutive cuts one day after a bumper reduction from the US Federal Reserve.

The new policy, aimed at encouraging more gas development, allowed producers to export up to 20% of their gas until 2030.

Earlier this year, China had removed trade tariffs on wine and barley after Australia dropped World Trade Organization complaints against Beijing over the two products.

Part-time stints saw the most gains, with about 50,600 jobs being added last month, while full-time positions fell by 3,100. The employment-to-population ratio increased to 64.3% to an almost all-time high, and the participation rate reached a record-high 67.1%.

Stock markets were little changed and the dollar was down slightly Wednesday as investors awaited the US Federal Reserve's first interest rate cut in more than four years.

Tupperware Brands and some of its subsidiaries have filed for Chapter 11 bankruptcy protection and are seeking a buyer, the food container firm said, after years of dwindling sales.

Gillon McLachlan, Tabcorp's chief executive, relayed the decision to employees via a memo, confirming that the betting giant's 1500 staff in Sydney, Melbourne, and Brisbane must return to office, effective immediately.

BlueScope Steel's venture fund BlueScopeX signed an MoU aimed at hatching a sustainable method of producing green iron from iron ores and tailings.

Negotiators from Boeing and the machinists union are scheduled to resume talks Tuesday after some 33,000 workers went on strike late last week.

Shares in Chinese electronic appliance maker Midea closed nearly eight percent higher on its Hong Kong debut Tuesday, having raised around US$4 billion in the city's biggest initial public offering for more than three years.

Most Asian markets rose Tuesday but Tokyo sank more than one percent as exporters were hit by a stronger yen with traders gearing up for a bumper US interest rate cut and a key Japanese central bank meeting.

Trade Minister Don Farrell announced the agreement in Canberra on Tuesday, highlighting that the deal would curb tariffs on over 99% of Australian products entering the UAE.

US and European stock markets wavered on Monday as investors cautiously awaited the US Federal Reserve's first interest-rate cut since 2020.

The agreement includes a 15% salary increase for both Captains and First Officers in the first year, followed by 3% annual increases in the subsequent two years.

"Given the RBA's hawkish rhetoric, we don't see rate cuts coming until the second quarter of 2025," Oxford Economics Australia head of macroeconomic forecasting Sean Langcake said ahead of the research firm's biannual economic outlook.

The Japanese finance ministry on Friday designated the parent company of 7-Eleven a "core" industry, a move that could make a takeover by Canadian rival Couche-Tard more difficult.

Despite declaring a AU$2.08 billion pre-tax profit for the fiscal year 2023–24, Qantas raised the change and cancellation costs for domestic flights to $119, beginning Oct. 9.

Despite the allegations leveled against it, the casino has been permitted to continue operating under the supervision of a regulator-appointed manager.

Asian markets mostly rose Friday while the yen sat around nine-month highs and gold hit a record after another healthy day on Wall Street as investors gear up for an expected US interest rate cut next week.