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Banking

Commonwealth Bank tells inquiry mortgage stress will rise in coming months

by Anas Siddiqui
Commonwealth Bank tells inquiry mortgage stress will rise in coming months

Mortgage stress will continue to rise in the next six months, even if the cash rate remains unchanged, the Commonwealth Bank has warned. The bank also predicted the unemployment rate …

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Murray Watt promises not to ‘sell out’ farmers as EU trade deal fails to progress

by Walter Watson
Murray Watt promises not to ‘sell out’ farmers as EU trade deal fails to progress

Australia “won’t sell out” its farmers in exchange for a sub-par free trade agreement with the European Union, Agriculture Minister Murray Watt says. After more than five years of negotiations, …

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Aussie billionaires Andrew and Nicola Forrest announce separation

by Anas Siddiqui
Aussie billionaires Andrew and Nicola Forrest announce separation

Billionaires Andrew and Nicola Forrest have announced they are now living “separate” lives. The pair said in a statement on Wednesday they had decided “to live apart” after 31 years …

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Union action over CBA’s working from home order

by Anas Siddiqui
Union action over CBA’s working from home order

The union representing bank employees is taking one of Australia’s biggest employers to court over a demand to get more of its employees back into the office. The Commonwealth Bank …

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Don Farrell leaves Brussels with no Australia-EU free trade agreement signed

by Walter Watson
Don Farrell leaves Brussels with no Australia-EU free trade agreement signed

Australia and the European Union are no closer to a $100 billion free-trade agreement, as the impasse over naming rights continues. Trade Minister Don Farrell cut his mid-year holidays early …

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Philip Lowe to give speech as Jim Chalmers says replacement decision imminent

by Anas Siddiqui
Philip Lowe to give speech as Jim Chalmers says replacement decision imminent

Philip Lowe will on Wednesday give what is largely anticipated to be his last speech as the Reserve Bank governor. Dr Lowe will address the Australian Conference of Economists in …

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CommBank down: Current balance unavailable message for Commonwealth Bank customers as online services down amid major outage

by Anas Siddiqui
CommBank down: Current balance unavailable message for Commonwealth Bank customers as online services down amid major outage

Customers of one of Australia’s biggest banks were locked out of their finances on Monday as a major outage sparked “absolute chaos”. Commonwealth Bank informed customers on Monday morning it …

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Labor creates 465,000 jobs in 12 months as RBA plans for unemployment to rise

by Anas Siddiqui
Labor creates 465,000 jobs in 12 months as RBA plans for unemployment to rise

Nearly half a million jobs were created in the first year of the Albanese government, the strongest start on record according to Treasurer Jim Chalmers. As Treasury and the Reserve …

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Economists warn alternate solutions to inflation levels will hit worse than rate hikes

by Anas Siddiqui
Economists warn alternate solutions to inflation levels will hit worse than rate hikes

Australians frustrated with aggressive interest rate hikes are being warned the alternative is for the government to slash its spending, or demand more in tax. Economists are divided over whether …

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