Australia Financial News

By Roushni Nair and Melanie Burton

Commerce Secretary Gina Raimondo is the latest member of President Joe Biden’s Cabinet to visit China as his administration tries to mend the deteriorating ties between the world’s two largest economies

SYDNEY (Reuters) — Australian retail sales rebounded in July after a sharp fall the previous month, but the annual rate slowed further, a result that should not upset the outlook for interest rates as high borrowing costs work to slow consumer spending.

Queensland coal export terminal Dalrymple Bay Infrastructure says chief executive Anthony Timbrell will step down as higher fees from handling coal exports helped lift interim net profit five-fold to $34 million.

Dual listed telecommunications business Chorus Limited has mandated ANZ, Citi, and Westpac to drum up interest in a potential seven-year medium term note.

Date: November 13 & 14, 2023

Netflix has lost Australian subscribers for the first time since it launched locally in 2015, in a sign streaming growth is stalling and platforms are nearing a consumer ceiling amid increasing cost-of-living pressures.

Western Australia gold explorer Black Cat Syndicate was asking investors to tip in $7 million odd via a share placement to fund further exploration at its gold project Paulsens on Monday.

Judo says the big banks are still dragging their heels when customers want to switch business lenders amid growing regulatory scrutiny of potential anticompetitive conduct.

The banks have urged the Albanese government to assess how every existing law might capture the use of artificial intelligence before drafting new ones, to protect the financial industry’s AI rollout from unintended regulatory delays.

(Reuters) — National Australia Bank (OTC:NABZY) is preparing to cut around 60 jobs of the 600-staff at its markets division and undertake a broad restructuring exercise across its seven business, the Australian Financial Review said on early on Monday citing sources.

Australia’s investment banking scene is about to get a sugar hit.

The coming decade will see the largest global transfer of wealth in the planet’s history, as the Baby Boomers’ accumulated treasure of more than $US68 trillion goes to their heirs.

Half of the world’s biggest lithium mines put on the market since 2018 were bought by Chinese companies, underscoring the tightening grip of the world’s second-largest economy over the global battery metal supply chain.

The boss of Australia’s second-largest pubs group, Australian Venue Co, says bookings for Christmas functions are up 40 per cent on this time a year ago as households and businesses seek out better value alternatives to restaurants, keeping the economy on track for a soft landing.

Telstra kicked off its $50 million bet on entertainment and content aggregation, relaunching streaming platform Fetch to replace Telstra TV for its 700,000 users.

Here’s one for the oat milk converts; an emerging brand in Australia’s plant-based beverage industry is looking for its next stage of growth.

Indian students are now studying in Australia. “There are no direct flights from Mumbai.

NEW DELHI : A new model of colonialism may arise if countries with large reserves of critical and rare earth minerals do not consider these resources as a global responsibility, Prime minister Narendra Modi on Sunday said, sounding what he called a “serious warning". Addressing the B20 Summit of business representatives from G20 countries, Modi said while critical and rare earth minerals are the need of the entire world, they are unevenly distributed globally—some countries have large quantities of these minerals while others do not have them at all.

Babar Azam said he was hopeful of his team producing 'good' cricket in the upcoming Asia Cup after he led his team to an ODI series sweep over Afghanistan on Saturday. Pakistan registered a comprehensive 59-run victory over Afghanistan at the R Premadasa Stadium in Sri Lanka on Saturday, completing a whitewash of the three-match series. While interacting with the media after leading his team to the top of the ODI rankings, the Pakistan captain talked about the momentum and positivity in the dressing room after the series victory against their western neighbours, which enabled them to get into the groove ahead of the continental showpiece Asia Cup, where they will be up against their arch-rival India. «We are excited going into the Asia Cup. The manner of our series victory over Afghanistan will serve us well in the tournament.

Pakistan cricket team announced a 17-member squad including crucial players like Fakhar Zaman, Imam-ul-Haq, Shadab Khan, Mohammad Nawaz, Haris Rauf, etc., and later middle-order batter Saud Shakeel was also added as the 18th member of the squad. The team has named Tayyab Tahir as the traveling reserve.