Australia Financial News

Indian stock market is expected to open on a tepid note Friday on the back of mixed global cues. Asian markets traded mostly higher, while the US stock market ended mixed overnight amid the release of key economic data that raised hopes that the US Federal Reserve may not hike interest rates further. Investors await the US employment data due on Friday for clues on the Fed’s monetary policy outlook.

PwC Australia has posted consolidated revenue of $3.2 billion, up 12 per cent, in 2022-23 but profit was flat as the firm’s tax leaks scandal hit the final months of the full-year results.

The Sunshine State has sprouted another renewables deal. Street Talk understands Energy Development Corporation has been running a sale process for its Bundaberg-based 207-megawatt project Bucca, telling investors to expect nearly $1.2 billion in earnings over a 30-year life.

With the City of Sydney council voting last week to consider banning gas connections to new homes, it is now heading down the path of the Victorian and ACT governments which have already flagged a ban on all new gas hook-ups.

Neil Mitchell will step down from his top-rated Melbourne morning radio show after 34 years in the role. His final show will be December 1.

jobless claims for the week ended August 26 fell at 228,000. Shares of Salesforce climbed 3% after its upbeat revenue forecasts. Broadcom rose 3.4% and Intel gained 1.8%.

Australia while they were having lunch. The incident has gained over 12 million views on TikTok, leaving viewers in awe of the python's «parkour» skills. The video, filmed in an undisclosed part of Queensland, showcases the python, a species that typically grows up to 13 feet, making its way gracefully from the roof of a house to a nearby tree. As the snake astoundingly navigates this challenging terrain, the family below reacts with a mix of amazement and nervousness. One female onlooker expresses her amazement, noting how «freaky» the snake's presence is. A child inquires about how to safely remove the snake, to which the response is a simple, «We won't.» Even experienced Australians, known for their encounters with reptiles, are taken aback. As the snake briefly pokes its head out of the tree, one observer exclaims in shock.

Australian solar innovator SunDrive is determined to build Australia into a solar power manufacturing powerhouse with the help of heavyweight investors in its corner.

Navigating growth as demand for sustainable energy storage solutions reaches an all-time high falls squarely onto the shoulders of Brisbane’s Tim Harris.

The competition watchdog’s investigation into Qantas flights has revealed that 15,000 Qantas and QantasLink flights were cancelled between May and July 2022 – more than treble the 4149 cancellations publicly reported by the government over the same period.

West Australian Premier Roger Cook will fly to Indonesia with a delegation of mining executives and state ministers working to secure deals with the largest economy in South-East Asia to develop his state’s critical minerals industry.

Something has finally come from Howard Marks’ trip Down Under, some 11 months after the legendary investor arrived from the United States.

Janine Craig says she will never fly Qantas again after the airline cancelled her flight from the US 24 hours before departure and left her to battle through a two-day travel nightmare to get home.

Jefferies Australia has poached Morgan Stanley managing director and global capital markets boss, Mark Burmeister.

By Stella Qiu

The banking co-operative in June announced that it was working with more than a dozen financial institutions and market infrastructures to test the use of its messaging network as a means to instruct the transfer of tokenised value over a range of public and private blockchain networks.Participants in the project include Australia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear, Lloyds Banking Group, SIX Digital Exchange (SDX) and The Depository Trust & Clearing Corporation. Web3 services platform Chainlink was used as an enterprise abstraction layer to securely connect the Swift network to the Ethereum Sepolia network, while Chainlink’s Cross-Chain Interoperability Protocol (CCIP) enabled interoperability between the source and destination blockchains.Transfers of simulated tokenised assets took place - between two wallets on the same public distributed ledger technology network; between two wallets on different public blockchains; and between a public and private blockchain network.Tom Zschach, chief innovation officer at Swift says the findings have the potential to remove significant friction slowing the growth of tokenised asset markets and enable them to scale globally as they mature."For tokenisation to reach its potential, institutions will need to be able to seamlessly connect with the whole financial ecosystem," he says.

John Bennett

Cryptocurrency exchanges in Australia have been increasingly communicating with their users as part of preventative measures against scams. According to local crypto firms, such communication is the key to preventing scams as it is able to “break trust” between victims and scammers.

Fortescue Metals has lost its chief financial officer, Christine Morris, just two months after she was appointed to the key position at the clean energy and iron ore group chaired by billionaire Andrew Forrest.

The Australian Energy Market Operator is banking on large scale batteries and pumped hydro projects to help reduce the risks of rolling blackouts over the next decade on the east coast.