Category: <span>Business</span>

NAB has again upgraded its expectations for price growth in Australia’s booming housing market, with CEO Ross McEwan reportedly declaring prices could spike “in excess” of 10% nationwide by the end of 2021. The Australian reports McEwan delivered that forecast to the House of Representatives Standing Committee on Economics on Friday, surpassing the bank’s February...

Shares in Asia-Pacific were mixed in Monday morning trade after the Dow Jones Industrial Average and S&P 500 notched record closing highs on Friday stateside. In Japan, the Nikkei 225 sat near the flatline in early trade while the Topix index rose fractionally. South Korea’s Kospi advanced 0.44%. Stocks in Australia slipped as the S&P/ASX...

The Morrison government has cautioned against a major increase in Australia’s minimum wage, citing concerns about job creation. In a submission to the Fair Work Commission’s annual review, the government notes a continuing uncertain global and domestic economic outlook. “Higher labour costs during this challenging period could present a major constraint to small business recovery...

Australia’s banks have updated guidelines to help bank staff identify signs of financial abuse against family members and elderly people. The update is part of an industry-wide focus on preventing family violence and elder abuse, the Australian Banking Association says. “This kind of behaviour is a form of domestic violence,” ABA chief executive Anna Bligh...

The Australian Taxation Office has increased some key rates and thresholds for people who want to top up their superannuation. From July 1, concessional and non-concessional contribution caps and the general transfer balance cap will increase for the first time in four years, Minister for Superannuation Jane Hume said. Employers must pay 9.5 per cent...

Australian broadcaster 9 News suffered a cyberattack that forced a number of live shows off air on Sunday, as the country’s federal parliament also reported an attack on its computer network. “A cyber-attack on our systems has disrupted live broadcasts today however, we have put processes in place to ensure we’re able to resume our...

H&M, Nike and other big Western apparel brands are facing a boycott in China because of the stand they’ve taken against the alleged use of forced labor to produce cotton in the country’s western region of Xinjiang. H&M and Nike said months ago that they were concerned about allegations that forced labor has been used...

James Packer’s casino operator Crown Resorts has confirmed an $8 billion takeover offer from US private equity giant Blackstone. The ASX-listed Crown has confirmed an unsolicited, non-binding offer of $11.85 a share was submitted to the company by Blackstone yesterday. With just over 677 million shares in the company, the initial offer price values Crown...

A stripped-back version of the government’s industrial relations reforms has passed Federal Parliament, triggering changes for the rights of casual workers. Under the new laws, regular casuals will be able to ask for a permanent job after 12 months, but employers would have the right to say no. The government was forced to ditch other...

Finalists from Goondiwindi, Oakey, Malanda, Pittsworth, Blackbutt and Fraser Coast Queensland Ag Shows announced on Sunday the six finalists of the 2021 Emerging Leader in the Queensland Shows Awards. The awards, in their sixth year this year, are run by the Next Generation committee of Queensland Ag Shows and recognise excellence in the agricultural show...