BUSINESS

According to the new initiatives, the airlines will have to "show cause" the reason for delay and cancellation of flights during their regular briefing to the government, while the ombudsman can seek more information.

Nestle shares fell Friday after the surprise departure of chief executive Mark Schneider, which followed slowing sales growth and bad headlines at the Swiss food group.

A Victorian Gambling and Casino Control Commission (VGCCC) investigation found that the company failed to keep a tab on its harm minimization measures spanning 2020 to 2023, resulting in at least one consumer incurring financial losses.

Those seeking three-year home loans are expected to get a competitive 5.89% interest rate, which is in line with Westpac's offer. Additionally, the new variable rate borrowers will be offered a reduction of up to 0.35 percentage points to ease financial strain

An independent review of the RBA last year recommended several proposals, including dividing the bank's board -- one responsible for monetary policy, which will continue to set interest rates, and the other, a Governance Board, to handle operations.

European and Asian stock markets rose on Thursday on growing optimism that the US Federal Reserve will cut interest rates next month.

"The current operating model and structure is not sustainable for us. Our customers are moving to digital channels ... but we have also seen very significant margin compression," BOQ's chief executive Patrick Allaway said.

The ACCC is concerned that Qantas and Virgin are capitalizing on the decreased competition and raising ticket prices on popular routes.

The patients were told about the abnormal embryos after they underwent the non-invasive pre-implantation testing (NiPGT). However, Monash IVF later admitted that test results from the now-suspended NiPGT were 75 to 85% similar to a standard test.

According to a survey by accounting firm Deloitte, 101,500 Australians could become jobless in the next one year, taking the unemployment rate from the current 4.2% to 4.5%.

US and European stock markets rebounded Wednesday but Asia slipped as investors waited for a speech by US Federal Reserve chief Jerome Powell at the end of the week.

UK government borrowing jumped by far more than expected in July, official figures showed Wednesday, stoking fresh anxiety for the new Labour government ahead of its first budget in just over two months.

The RBA's reluctance to lower interest rates is a result of its worries about wages and employment.

About 500 jobs are reportedly under threat, which the agency's staff union warns could jeopardize its research capabilities and national scientific expertise.

Switzerland's new instant payment system will bolster the future of cashless payments in the country, the Swiss central bank said Wednesday after the scheme went live.

Echo Law, the legal firm that filed the suit Wednesday, claimed even though the airline was obliged to refund the money, it gave travel credits to customers between 2020 and 2022.

Western Australia is fearing an economic downturn due to falling iron ore prices. However, the government's cautious budgeting may thwart the problem.

The central bank has extended its inflation rate target deadline to 2026 from the earlier forecast of achieving the target by 2025.

With recent data indicating the US economy remains in good shape as inflation slows and the labor market softens, there is widespread expectation the bank will finally start unwinding its long-running program of tight monetary policy next month.

Bookstopia immediately resumed trading, after digiDirect made the quick acquisition thanks to its owner, Shant Kradjian.

The Kenyan government plans to raise about $1.2 billion by reinstating some unpopular taxes contained in a finance bill that was scrapped in the face of deadly street protests, a government minister said.

According to University of Melbourne Professor Tom Kompas, people between the ages of 30 and 49 contributed the most to the loss. "Workers in that age bracket contributed to a loss of 52 million worked hours, or more than 50% of the total labor and productivity lost in 2022," he said.

Westpac surged ahead of its peers who were still grappling with soaring high interest rates and rising cost-of-living pressures, which led to concerns about asset quality and loan repayment.

Equities were mixed Monday following last week's strong performance, with traders focused on a closely followed meeting of central bank chiefs where the Federal Reserve's Jerome Powell is due to deliver a key speech.

Despite the challenges, the bank's core operating margins boosted investor confidence, leading to a 1.5% increase in its share price by mid-session.

Stock markets mostly rallied Friday after encouraging US retail sales data reassured investors about the health of the world's biggest economy.

Financial pundits have been betting on rate cuts by the end of the year, that would provide relief to mortgagors and renters.

Administrator Sam Freeman said more than more than 20,000 passengers flew Rex in the first week of administration, adding that only the capital city routes serviced by Boeing 737s have been grounded.

Britain's economy grew 0.6 percent in the April-June period, a slight slowdown compared with the first three months of the year, official data showed on Thursday.