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NAB predicts Australian house prices will rise more than 10% by the end of the year

NAB predicts Australian house prices will rise more than 10% by the end of the year

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...

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Asia-Pacific stocks struggle for direction; investors watch Alibaba shares after massive fine

Asia-Pacific stocks struggle for direction; investors watch Alibaba shares after massive fine

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...

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Morrison government cautions against a major increase in Australia’s minimum wage

Morrison government cautions against a major increase in Australia’s minimum wage

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...

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Banking code updated to fight elder abuse

Banking code updated to fight elder abuse

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...

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Australian Taxation Office increases key rates for people who want to top up their superannuation

Australian Taxation Office increases key rates for people who want to top up their superannuation

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...

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Cyberattack forces Australian TV channel 9 News off air

Cyberattack forces Australian TV channel 9 News off air

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...

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H&M and Nike are facing a boycott in China

H&M and Nike are facing a boycott in China

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...

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Crown receives $8 billion private equity takeover offer from Blackstone

Crown receives $8 billion private equity takeover offer from Blackstone

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...

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Queensland Ag Shows identifies six emerging leaders

Queensland Ag Shows identifies six emerging leaders

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...