-
3 weeks ago | 
abc.net.au | Gareth Hutchens |Nadia Daly |Stephanie Chalmers |Kate Ainsworth
The ASX 200 closed moderately higher after seesawing through the day, as the RBA prepares to meet on interest rates on Monday. Meanwhile, analysts expect the election to have a "limited" impact on markets.
-
4 weeks ago | 
rnz.co.nz | Kate Ainsworth |Emilia Terzon
By Kate Ainsworth and Emilia Terzon, ABCThe company confirmed the news on Wednesday, with administrators citing increasingly tough trading conditions in the Australian retail sector. Jeanswest entered administration in January 2020, but was rescued by Hong Kong business Harbour Guidance. Administrators from Pitcher Partners said the decision to close the brand came after five years of struggling to revive the company, with shoppers spending less due to the higher cost of living.
-
4 weeks ago | 
rnz.co.nz | Kate Ainsworth |Emilia Terzon
[author] By Kate Ainsworth and Emilia Terzon, ABCThe company confirmed the news on Wednesday, with administrators citing increasingly tough trading conditions in the Australian retail sector. Jeanswest entered administration in January 2020, but was rescued by Hong Kong business Harbour Guidance. Administrators from Pitcher Partners said the decision to close the brand came after five years of struggling to revive the company, with shoppers spending less due to the higher cost of living.
-
4 weeks ago | 
abc.net.au | Kate Ainsworth |Emilia Terzon
Clothing retailer Jeanswest has collapsed, with more than 90 stores set to close within months and putting hundreds of employees out of work. The company confirmed the news on Wednesday, with administrators citing increasingly tough trading conditions in the Australian retail sector. Jeanswest entered administration in January 2020, but was rescued by Hong Kong business Harbour Guidance.
-
1 month ago | 
abc.net.au | Kate Ainsworth
Australia's largest superannuation fund, Australian Super, is being sued by the corporate regulator for "significant delays" in processing thousands of death benefit claims and failing to pay out millions of dollars to deceased members' families. ASIC alleges the super fund "failed to process death benefit claims efficiently, honestly and fairly" between July 2019 and October 2024, and took anywhere between four months and four years to assess almost 7,000 death benefit claims.
-
1 month ago | 
abc.net.au | Kate Ainsworth
Struggling casino giant Star Entertainment has entered a trading halt minutes before the Australian share market opened on Friday after failing to post its half-year financial results. The company, which operates casinos in Brisbane, the Gold Coast and Sydney, has been facing significant financial woes, and has previously warned it was at risk of collapse. The casino operator was required to post its results before trading started on the Australian Securities Exchange at 10am AEDT on Friday.
-
1 month ago | 
abc.net.au | Kate Ainsworth |Stephanie Chalmers
It may not be a household name, but software firm WiseTech Global has found itself frequenting headlines after allegations of inappropriate behaviour were made against its billionaire founder. Richard White stepped down as the company's CEO in October after details of a personal legal battle were made public, but the revelations haven't stopped coming.
-
2 months ago | 
abc.net.au | Kate Ainsworth
Within minutes of the Reserve Bank of Australia announcing it would cut interest rates on Tuesday, the major banks were quick to share they were following suit. It was the relief millions of households around the country had been waiting for, but the monthly savings on mortgage repayments wouldn't be instant. While some lenders passed on the cut immediately, the big four banks took a more conservative approach, stipulating that the changes would come into effect within a few weeks.
-
2 months ago | 
abc.net.au | Gareth Hutchens |Kate Ainsworth
The Reserve Bank was too slow to begin lifting interest rates to tackle rising inflation, and it doesn't want to make the same mistake when cutting rates, RBA governor Michele Bullock has told a parliamentary committee. Appearing at the House Economics Committee in Canberra on Friday, Ms Bullock said the RBA Board cut the cash rate target this week for many reasons.
-
2 months ago | 
abc.net.au | Daniel Ziffer |Kate Ainsworth |Courtney Gould
Also... good morning!The board of the Reserve Bank of Australia meets again today, the second day of what is now eight meetings annually. At 2.30pm AEDT it will release its hotly-anticipated decision on the cash rate target. In essence it's the rate that banks use to settle debts with each other, but in reality it's the benchmark that is used to price the cost of money.
