Shreyashi Chakraborty

This demonstrates the substantial influence that Australia's real estate market has on the people's wealth, with the average household having a net worth of AU$1.58 million.

Under Australia's consumer law, buyers are only entitled to a return or refund if the product is faulty or doesn't match the description, not if they simply change their minds.

National Australia Bank (NAB) revealed that debit and credit card scams were at their highest levels in November.

The company collapse would mean dozens of farmers being left without buyers for their milk and owning millions of dollars for previous supplies.

The monthly consumer price index (CPI) increased 2.1% in the 12 months to October 2024. A more steady inflation environment was shown by the fact that this increase fell short of the 2.3% market projection.

While speaking to reporters in Canberra, Xiao Qian said China and Australia should not jeopardize their national priorities "for the sake of a third party."

Anglo American pivoted to restructuring, primarily to refocus on copper -- an essential resource amid rising global demand for sustainable energy solutions -- following its successful defense against a $49 billion takeover bid from BHP.

The Australian Prudential Regulation Authority said in a statement it was confident the 3% buffer will help households stay afloat and repay their loans under various scenarios.

Healthscope had proposed a AU$100 fee for Bupa and AHSA members using the former's care facilities to deal with what they called the "chronic underfunding" from insurers, amid rising cost of providing care.

The government is providing up to AU$80 million to support Rex's regional routes during this period, recognizing the airline's vital role in regional Australian communities.

State-sponsored hackers were leveraging AI's popularity to infiltrate computer systems of businesses and organizations and then sitting dormant to remain undetected, the Australian Signals Directorate (ASD) said in a report.

Following the allocation of the funds, Industry Minister Ed Husic said, "What we don't want to see is Australian firms leaving our shores because they don't get the support they need at the right times."

Young Australians, aged 18 to 29, reduced their expenditure by 2% year over year in the third quarter of 2024, with significant drops in both essential (by 2.3%) and discretionary (by 1.9%) spending.

The Labor government had intended to limit the number of new international students admitted to universities to 145,000, other higher education institutions to 30,000, and vocational education and training to 95,000.

The corporate watchdog accused NAB and its subsidiary AFSH Nominees Pty Ltd of violating the regulations between 2018 and 2023, during which the bank failed to respond to 345 customer hardship applications within the mandatory 21-day timeframe.

Though NAB had initially predicted the Reserve Bank of Australia (RBA) would cut interest rates in February 2025, now, that doesn't seem like a possibility before May 2025.

Australia's long service leave entitles employees to receive 2-13 weeks' paid leave after 10 years of service with a single employer, varying by state or territory, with the provision for employees to receive a proportionate (pro-rata) payment for unused leave entitlements when they leave their job.

This legal obligation would require companies like Meta, Google, and X to proactively keep Australians safe and prevent instances of online bullying and predatory behavior, apart from stopping algorithms from spreading harmful content.

The Australian Bureau of Statistics revealed that the number of people with full-time jobs increased by 9,700 last month, while the part-time rose by by 6,200, taking the total growth to 15,900.

Retail banking expanded with 121,000 new transaction accounts, while home loans saw an increase of AU$8.6 billion.

"The latest decision of a 3.75% wage increase paid from 1 July 2024 was lower than the September quarter 2023 increase of 5.75%," noted the ABS head of prices statistics Michelle Marquardt. "It was also lower than the commission's September quarter 2022 awarded increase of between 4.6% and 5.2%."

ASIC claimed in the lawsuit that more than 6,000 claims were delayed by over a year, representing half of Cbus' total claims at the time.

During the company's annual general meeting on Tuesday, Chairman James Graham said, "In this context, it has been disappointing to see how cost-of-living issues have been politicized and targeted at supermarket operations."

The deal is part of Australia's bid to keep its banks in the Pacific region and ensure that a vacuum does not occur, where Chinese banks can move into.

Jim Chalmers said Monday, "The direct impact on Australia would be relatively mild, but the broader impact on our major trading partners and on the global trading system might be more significant, and in that regard, that is a little more concerning to us."

The vendors, who were highly reliant on Coles, Woolworths and Aldi, see their efforts dwarfed by supermarkets' tactics, forcing them to restrict their business to the domestic market, the industry's peak body told the ACCC.

Although its clients were surviving the economic downturn, NAB, the country's biggest business lender and third-largest retail lender, stated that an increase in late loan repayments among residential and commercial borrowers was concerning.

The consolidation, finalized in December, will combine approximately 1,000 retail stores and 16 distribution centers across Australia and New Zealand.

Speaking at the Raisina Downunder conference in Canberra, Andrew Shearer, Director-General of the Office of National Intelligence, said the nexus, which included China, Iran, and North Korea, warranted thorough evaluation.