BUSINESS

The brands getting the axe are Rockmans, Autograph, Crossroads, W Lane, and BeMe, following which, Mosaic will focus on its five other brands -- Katies, Millers Noni B, Rivers, and its standalone Mosaic marketplace, Mosaic Brands, CEO Erica Berch said.

Treasurer Jim Chalmers responded the government cannot not regulate agreements between the Reserve Bank and the commercial banks. "But I do share the concern .... that some elements of confidentiality may have been breached, and I'm sure that our colleagues at the bank are working through what that means for the way that they conduct those briefings and who's involved."

Announcing the funding, Prime Minister Anthony Albanese said his government wanted to crack down on "misleading and deceptive pricing practices and unconscionable conduct.

Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal that could shake up Australia's Qantas-dominated market.

Chalmers believes the recent stimulus measures from China, including its decision to cut interest rates and inject liquidity through mortgage refinancing could potentially boost steel demand, leading to an increase in iron ore prices.

Besides low spending, the government stated strong commodity prices and a larger income tax as contributing to the two consecutive surpluses. The government also saved by paying less to the states and territories.

The engineers across major airports, including Sydney, Melbourne, Brisbane, Canberra, Adelaide, and Perth, have threatened to hold further strikes if their demands aren't met.

The watches are the latest products Trump has introduced since the start of his third campaign including Bibles, sneakers, photo books and cryptocurrency.

Bitcoin has had a rough few weeks following two market bloodbaths last month, but this week has been good for the digital currency, allowing the crypto coin to pass the $65,000-mark late on Thursday.

Many politics-themed memecoins have been surging overnight as the race between VP Kamala Harris and ex-President Donald Trump heat up on Polymarket, where crypto users gather to bet on who they think will be the 47th president of the United States.

The companies say they 'expect strong client demand and maintain the flexibility to significantly expand the size of the program.'

The Supermarkets Inquiry Interim Report by the Australian Competition and Consumer Commission (AICCC) found that the country's biggest grocery chains, Coles and Woolworths, were acting as "oligopoly," limiting the incentive to compete on price.

PayPal has announced that merchant accounts will also now be able to buy, hold, and sell cryptocurrencies as the digital payments platform has seen increased interest among business owners to utilize crypto.

Billionaire and Shark Tank investor Mark Cuban has seen his fair share of huge roles in the corporate world – now he wants a top position at what could be the most contentious agency for the crypto industry.

The Financial Stability Review reported a rising number of mortgage holders, who were defaulting on home loans and more people opting to sell their homes to escape repayment.

The results of its latest supermarket pricing study, tabled after comparing prices of 14 common grocery items across 104 stores nationwide, found Aldi to be cheaper by at least AU$18, while compared to Coles or Woolworths.

The job openings fell by 17.1% from 2023 at a seasonally adjusted 329,900, which was the lowest drop since August 2021. However, the rate was 45.1% higher than the period before the pandemic struck.

A court filing on the Federal Court of Australia's website revealed Thursday that knowledge about the issue was fragmented among the senior Qantas managers.

Between August 2018 and February 2021, the securities firm claimed to conduct ESG screens for its $1.1 billion Ethically Conscious Global Aggregate Bond Index Fund. However, the federal court found: "Approximately 74% of the securities in the Fund by market value were not researched or screened against applicable ESG (environmental, social, and governance) criteria."

The core consumer price inflation (CPI), which removed volatile price movers, also fell from 3.7% in July to 3%.

Eurozone business activity declined for the first time in seven months in September, as France lost steam after the end of the Paris Olympic Games, a key survey said Monday.

Sweden's beleaguered electric car battery maker Northvolt said Monday it would cut a quarter of its staff in the country, as it struggles with strained finances and a slowdown in demand.

Everton announced on Monday that the US-based Friedkin Group has reached an agreement to buy Farhad Moshiri's majority stake in the struggling Premier League club.

BGF had initially entered a trading halt on July 1 to restructure its funding arrangements. The halt was extended in August, citing ongoing discussions and the potential for a binding offer in early September.

Victorian Ambulance Union secretary Danny Hill said under the EBA, "This deal rewards longer serving ambos, it makes our elite MICA paramedics the highest paid in Australia, it rewards Community Officers for the time they contribute to their community, and most of all it will help our members finish their shift on time and get home to their families."

Boeing proposed lifting hourly wages for striking workers by 30 percent on Monday, sweetening its initial offer in an effort to end a 10-day stoppage that shuttered Seattle-area plants.

"While headline inflation will decline for a time, underlying inflation is more indicative of inflation momentum, and it remains too high," the board said in a statement. "Policy will need to be sufficiently restrictive until the Board is confident that inflation is moving sustainably towards the target range."

The US Federal Reserve's decision to cut interest rates by half a percentage-point was "an appropriate and necessary first step," given progress on reducing inflation, a senior bank official said Monday.

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