Australia Financial News

Australian Retirement Trust, the country’s second largest pension fund, is scouring the world for a new chief executive officer after Bernard Reilly announced he was stepping down.

Shares are lower in Asia after a decline on Wall Street, where strong economic data revived worries that the Federal Reserve might keep interest rates high for longer than hoped

COVID-19 pandemic. His remarks come amidst growing concerns over China's assertive actions in territorial disputes, which were highlighted by Beijing's release of a controversial map claiming territories of other nations as part of China. India, Japan, Indonesia, Malaysia, the Philippines, Vietnam and Taiwan have protested against the Chinese map.

The climate change expert conducting a review for the Albanese government into carbon leakage – the importation of products from countries which do not have strong carbon abatement policies – said a carbon tariff for imported goods could become a “slippery slope into protectionism”.

There’s been no lack of appetite from Telstra for security-flavoured assets. The country’s largest telco was the underbidder in the Azure Capital-run sales process for Tesserent, the ASX-listed cybersecurity company snapped up by French defence giant Thales in June. And it has been sniffing around BGH Capital’s CyberCX, Tesserent’s larger rival.

consumer spending in the economy. According to customs data released on Thursday, China’s exports dipped 8.8% year-on-year (YoY) to $284.87 billion in August, registering its fourth straight month of decline. However, exports beat a forecast of 9.2% fall in a Reuters poll and off a 14.5% drop in July.

Woolworths Group’s near $500 million expansion into media by selling targeted advertising to its suppliers is at risk in the government’s privacy review, which wants to let Australians opt out of targeting and personalisation.

A massive blowout in costs at Bubs Australia was due to $17 million in marketing and travel expenses, as well as $2 million spent on legal fees and another $3.6 million outlay on consulting charges, the infant formula company’s annual report shows.

Mortgage brokers warn that a growing number of their clients are stuck in the so-called “mortgage prison” because they are unable to pass serviceability tests at alternative lenders, despite assurances from the prudential regulator that the rules don’t need to change to support competition.

The Albanese government is considering introduced blending mandates, targets for sustainable aviation fuel or low-carbon fuel standards to try and help the hard-to-abate sector cut its carbon emissions.

Australian investors will be left exposed to unregulated markets and investments will be driven away from the country if the Digital Assets (Market Regulation) Bill is rejected by parliament, the bill's author Senator Andrew Bragg has warned.

Qantas’ major superannuation investors are ramping up the pressure on the airline’s board to curtail outgoing chief executive Alan Joyce’s pay packet, warning his early exit “has not erased the issues that concern us”.

IFM Investors’ private equity unit has invested $80 million into software business Tally Group, which specialises in administering and billing for customers who use the grid for drawing and sending power.

Global South," and that at the upcoming Group of 20 meetings being held in New Delhi, that voice will be heard. At the August summit of the BRICS nations — Brazil, Russia, India, China and South Africa — current chair South Africa declared its goal was to «advance the agenda of the Global South.» And ahead of this May's summit of the Group of Seven wealthy democracies in Hiroshima, Japanese Prime Minister Fumio Kishida stressed that the guest nations he had invited reflected the importance of the Global South. The United Nations, the World Bank, U.S. President Joe Biden — everyone seems to be talking about the Global South these days.

Narendra Modi on Thursday called for building a rules-based post-COVID world order and strengthening the voice of the Global South. In an address at the annual ASEAN-India summit here, the prime minister also underlined the need for ensuring a free and open Indo-Pacific. The Association of Southeast Asian Nations (ASEAN) is considered one of the most influential groupings in the region, and India and several other countries including the US, China, Japan and Australia are its dialogue partners. India supports the ASEAN outlook on Indo-Pacific, Modi told the leaders of the grouping. The prime minister described ASEAN as the epicentre of growth, saying it plays a crucial role in global development. The 21st century is Asia's century.

Street Talk spotted some unusual trading activity in takeover-target Liontown on Thursday morning.

The chief executive of THL, which operates a fleet of 7233 rental campervans and motorhomes, is backing the push to open Australia to more competition from international airlines such as Qatar Airways.

UBS co-head of equities Chris Scott is out. Street Talk understands the UBS veteran exited the Swiss investment bank on Thursday following an internal structural shift.

G20 Summit being held in India. However, Washington has also highlighted the problems that could lead to the G20 Summit ending without a joint communique. G20 Sherpas are trying to work together on ironing out a final declaration that will be adopted by PM Narendra Modi and other world leaders over the weekend, reported ANI.

Li Qiang said on Wednesday it is important to avoid a «new Cold War» when dealing with conflicts between countries as world leaders gathered in Indonesia amid sharpening geopolitical rivalries across the Indo-Pacific region. Speaking at an annual summit involving members of the Association of Southeast Asian Nations (ASEAN) and China, Japan and South Korea, Li said countries needed to «appropriately handle differences and disputes». «At present, it is very important to oppose taking sides, bloc confrontation and a new Cold War,» Li told the meeting. ASEAN, which has warned of the danger of getting dragged into major powers' disputes, is also holding wider talks with Li, U.S. Vice President Kamala Harris and leaders of partner countries including Japan, South Korea, Australia and India. Neither U.S.

dollar strengthened further against major currencies as investors increased bets for further Federal Reserve policy tightening. The Bloomberg dollar index rose to a fresh six-month high as investors increased expectations for the Fed to hike again this year. Treasury yields drifted higher across the curve Thursday, extending Wednesday increases that pushed two-year yields above 5%.