Australia Financial News

World Cup was played between Pakistan and Bangladesh in Kolkata, Pakistan's Mohammad Rizwan entered the list of top five batsmen scoring the most runs in the ongoing World Cup in India. Mohammad Rizwan scored 26 runs from 21 deliveries and remained not out while chasing the target of 204 runs set by Bangladesh. Mohammad Rizwan entered the top five position ahead of Aiden Markram of South Africa and Virat Kohli of India.

The ACCC’s claim against Qantas over ghost flights is a simple case of consumer law, which is bad news for Qantas.

Gina Rinehart’s Hancock Prospecting warned that Australia was falling behind in the race to attract investment in downstream minerals processing as the nation’s richest person exerts her influence on Western Australia’s lithium industry.

Billionaire Chris Ellison’s Mineral Resources has snared a 19.8 per cent stake in a new lithium target with links to MinRes chairman James McClements.

The chiefs of Australia’s largest superannuation funds say rising interest rates are allowing them to lock in higher returns while taking less risk than they did during the era of cheap money.

Pacific National has blamed floods and industrial action for a $59 million net loss in the last financial year. It comes amid an 11 per cent earnings slump and the disclosure of a tax audit related to acquisition accounting.

A coalition of major social media platforms, artificial intelligence (AI) developers, governments and non-governmental organizations (NGOs) have issued a joint statement pledging to combat abusive content generated by AI.

ALSO READ: World Cup 2023 top run-scorers: Rohit Sharma enters top 5, South Africa's de Kock on top; check others on list Looking at the points tally, India currently have 12 points and can be joined by South Africa, Australia, New Zealand, and Afghanistan in the next scheduled matches. Tough, it will be tough for Pakistan or Bangladesh to outscore India in points. Even if India fails to win the remaining three matches – with South Africa, Sri Lanka, and Netherlands, they will remain on 12 points.

KKR & Co. is raising a second Asia real estate fund, targeting $2 billion to $2.5 billion to spend across the region, according to people familiar with the matter. 

The crypto world is volatile, with users steadily seeking a sense of trust and security. Now, a traditional finance giant, MultiBank Group, wants to change the global perception of crypto for the better with its know-how and expertise spanning over two decades.

health insurance for themselves or their dependents in India. According to a PolicyBazaar report, among NRIs, those from Gulf nations like the UAE, Saudi Arabia, Qatar, Oman, and Kuwait constitute the largest percentage of health insurance buyers, at 58%, followed by the USA/Canada (14%), the UK (8%), and Australia (6%). Think you check all the immigration boxes? Find out The appeal lies in the lower cost of health insurance in India compared to other countries, making it a viable choice for those residing abroad. Family floater health insurance plans are the preferred choice among NRIs, accounting for 40% of purchases. A significant portion of these policies (25%) is bought for parents or senior citizens residing in India. To maximize their health insurance benefits, NRIs opt for high-sum insured plans, especially crucial for severe illnesses or costly medical conditions. At least one-fourth of NRIs choose coverage of more than Rs 1 crore, while 34% opt for a sum insured between Rs 25 lacs to Rs 1 crore. Over half of the buyers opt for multi-year policies to take advantage of premium discounts. This not only locks in the premium for the chosen period but also guards against medical inflation or changes in premiums due to increasing age.

Investors say they expect the Qantas board to act on executive pay despite the airline revealing plans to fight the competition watchdog’s claims it misled and deceived customers, blaming systems errors and saying nearly all customers were eventually rebooked on new flights.

Brookfield-led consortium's A$15.35 billion ($9.78 billion) takeover offer for Origin Energy Ltd, casting doubt on the future of the bid. Origin Energy's largest shareholder, the A$300 billion AustralianSuper, owns a 13.68% stake and said the offer was «substantially below» its estimate of long-term value for Australia's biggest energy retailer. Origin shares were down 0.4% in early trade on Tuesday at A$9.13 each, which was above the $A8.81 offer price. The deal requires 75% support from the votes cast at a shareholder meeting, meaning AustralianSuper's holding could be enough to scupper the bid if not all shareholders vote. The high-profile intervention into one of the biggest takeovers this year comes as Australia's A$2.4 trillion pension sector increasingly flexes its muscle at home and overseas thanks to its burgeoning size in financial markets. Brookfield-consortium's offer price of A$8.81 per share has been deemed fair by an independent expert's report, however, it outlined a «roll forward» calculation that says Origin's shares could be worth an additional 40 Australian cents by the time a potential takeover is due to occur. The Brookfield-led consortium has given no indications publicly it is considering upping the value of its bid ahead of a shareholder vote planned for 23 November. However, AustralianSuper is not alone in its reservations over the price. Fund manager Perpetual told media last month the deal undervalued the energy company.

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Commonwealth Bank’s mortgage book has shrunk for the third month in a row, an unprecedented loss of share for the country’s largest lender.

TPG’s $1.8 billion buyout of InvoCare has been approved by shareholders of Australia’s largest funerals group, ending two decades of public listing.

New rules that could bypass anti-development councils are likely to be considered by the NSW cabinet soon, although how they would work is unclear, according to the state’s property development lobby group.

Fans of foreign films, obscure Scandinavian crime shows, the hit survival TV series Alone and the Tour de France will soon be able to have a say in what ads they see – or don’t.

Government-owned broadcaster SBS has secured the rights to the 2026 FIFA Men’s World Cup, outbidding commercial free-to-air networks and streaming giants including Paramount and Optus Sport.

The $3 million threshold at which superannuation balances will be hit with additional tax should be indexed to prevent “bracket creep by stealth”, Australian Retirement Trust chief executive Bernard Reilly says.

yen hovered near a two-week high on Tuesday, boosted by a report that the Bank of Japan (BOJ) could further tweak a key bond yield policy tool when it announces its monetary decision later in the day. The dollar looked set to end the month largely unchanged against a basket of currencies, having lost some steam after a roughly 2.5% gain in September. Yet, the greenback is being underpinned by risks of another rate hike from the Federal Reserve, analysts say, noting a still-resilient U.S.