Australia Financial News

Former PwC partner Peter Konidaris has become a consultant at advisory firm KordaMentha, making him the first of the named tax leaks partners to take up employment at a new outfit.

Premier Li Qiang will attend the G20 Summit in India which is scheduled to take place on September 9 and 10 in the national capital, instead of President Xi Jinping. That would make him the second major leader after Russia’s President Vladimir Putin to skip the event.

Orora will pay $2.16 billion to acquire French glass bottles maker Saverglass from US private equity giant The Carlyle Group as it tilts its business further towards the premium spirits and wine segment.

The NSW government will begin talks with Origin Energy on a deal to keep the giant Eraring power station open past 2025, after a report found that prices would spike and the state would face reliability risks if the plant was switched off.

Twiggy dramas and desert jamborees aside, the well-oiled machine that is billionaire Andrew Forrest’s private investment company, Tattarang, rolls on.

National Australia Bank says it can hold the line against Commonwealth Bank, the country’s largest lender, which is aggressively pushing for share in the lucrative business finance market.

The big four accounting firms earned 99.3 per cent of audit fees paid by Australia’s 200 largest listed companies last year, a proportion described as “to be expected” in any competitive market.

Will Vicars’ hedge fund Caledonia has told its well-heeled investors they have a historic opportunity to hold and top up on shares in one of its most controversial investments, North American real estate platform Zillow, despite deep turmoil in the property market.

Access to sound financial advice can make a big difference to your super balance when you retire. Better still, the Government is exploring ways to make it even easier to talk to a qualified, experienced financial adviser.

NAB chairman Phil Chronican is “open and attracted” to the idea of linking banker bonuses to climate-related targets, so long as reliable and robust measurements can be found.

The corporate regulator will launch legal action against Westpac on Tuesday alleging it failed to respond to requests from hundreds of its customers struggling with loan repayments over a seven-year period, who wanted to enter hardship arrangements with the bank.

dollar was firm on Tuesday and the Aussie under a little pressure as traders watched out for the Reserve Bank of Australia's interest rate decision with bets that rates may have peaked. The Aussie was 0.5% lower at $0.6431 in early trade. Softer than expected inflation data for July has markets all but certain the cash rate will stay on hold at 4.1% when the RBA announces its decision in the next few hours, far lower than where U.S.

Asian equities fell on Tuesday as the spotlight remained on China and its efforts to stabilise its stuttering post-pandemic economy, while traders awaited the outcome of a policy meeting of the Reserve Bank of Australia. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.75% lower at 511.14, moving away from 515.37, the highest level since Aug. 11 it touched on Monday. China shares clocked their best day in over a month on Monday on the back of fresh measures to help boost the faltering economy.

Indian stock market is expected to open lower on Tuesday following weakness in Asian markets ahead of key economic data releases in the region. The US markets were shut for a holiday. The Reserve Bank of Australia will announce its interest rate decision, while the purchasing managers index readings from China, India and Hong Kong will also be released today.

G20 Summit, scheduled to commence in India's capital, New Delhi, on September 9. This marks the first occasion that India plays host to this formidable assembly of global leaders.

equities rallied for a second consecutive day following strong macro data and firm global cues. Investors would keep an eye on services PMI data from Europe, UK and India, due later today. «Going ahead, domestic positives should continue to support indices with broader market sustaining momentum. Sectoral rotation would continue with niche and underperforming sectors likely to do well,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a muted startGIFT Nifty on the NSE IX traded 8.5 points, or 0.04 per cent, higher at 19,607.50, signaling that Dalal Street was headed for muted start on Tuesday.

By Jamie McGeever

G20 Summit, External Affairs Minister S Jaishankar on Monday said the focus should be on the position taken by countries on key burning issues than on the levels of representations at the conclave. «At the end of the day, countries are represented by whoever they have chosen to represent them.

Hong Kong experienced its hottest summer on record this year, with the city seeing «record-breaking» temperatures, the government said Monday, the latest region to experience the impact of a warming planet.Climate change has fuelled searing temperatures across the globe already this year, with India, Japan and Australia last week announcing recent temperature records toppled. In the semi-autonomous Chinese region of Hong Kong, officials declared on Monday that «together with the exceptionally hot weather in June and July, Hong Kong experienced the hottest summer on record from June to August 2023». The city recorded a monthly mean temperature of 29.7 degrees Celsius (85 degrees Fahrenheit) last month, the hottest August on record, according to the Hong Kong Observatory. This year also saw the third-hottest July and fourth-hottest June since records began in 1884. The top three warmest years in Hong Kong's history were all recorded after 2018. August was also «much drier than usual with a total rainfall of 5.5 inches,» the Observatory added.

(Reuters) — Australia's Westpac Banking (NYSE:WBK) Corp on Tuesday said it was aware of legal proceedings launched by the country's corporate regulator alleging the lender's failure to assist its customers with financial hardship notices between 2015 and 2022.

By Karin Strohecker and Vincent Flasseur