Australia Financial News

Sydney robo-adviser Stockspot, founded by ex-UBS portfolio manager Chris Brycki a decade ago, has sold a sizeable stake in the business to Japan’s Mirae Asset Global Investments, best known in Australia for being an early investor in exchange-traded fund powerhouse Betashares.

REA Group, owner of Housing.com, PropTiger.com, and Makaan.com, reported a 46% rise in its revenue from India in the financial year ended June 2023, while their Australian business saw a mere 1% uptick. India's share in the group's overall revenue has expanded to 6.7% in FY23 from 4.8% in FY22, REA said in an investor presentation. REA India posted a revenue of Australian $79 million for FY23 ended June against A$54 million in the previous year.

global market for light-weight, four-wheel drive tractors with its new platform, Oja, unveiled on Tuesday. According to a top company executive, Oja, built at an investment of ₹1,200 crore, is an entirely novel venture for the company, whose expertise has been rooted in “heavy, rugged" tractors. Mahindra will build multiple models on the platform across four categories—sub-compact, compact, small utility and large utility segments—with seven products set to hit the Indian and foreign markets later this year.

Cape Town: Homegrown automaker Mahindra & Mahindra is looking to tap the 2-million unit market for mid-sized pick-ups with a new global lifestyle pick-up truck that will first be launched in its key existing export markets including South Africa, Australia and New Zealand, Africa, the Middle East and South & Central America, the company announced during its global concept showcase in Cape Town on Tuesday. Mahindra is aspiring to snag a double-digit market share in these countries, where it has a rapidly growing presence, albeit with a single-digit share in the respective markets.

Qantas’ investments in its fleet have been made at “a significant cost” and the aviation industry is still struggling to bring back capacity, meaning the government must prioritise protecting aviation jobs over its obligations to consumers, the transport minister says.

Binance Connect, the regulated buy-and-sell crypto arm of Binance exchange, will shut down on August 16. Cointelegraph confirmed on August 15 via an email with a Binance spokesperson. 

The first time that Will realised he was caught up in the huge Protego GST crime wave came when he discovered his tax refund had disappeared – it went to pay out debt racked up by a fraudster in Sydney who hijacked his MyGov account for nearly $30,000.

It seems Christine Holgate’s turnaround of Team Global Express – after just 2½ years of life under private equity owner Allegro Funds – has caught the attention of cashed-up overseas buyers.

Commonwealth Bank made a huge bet in 2016 – to terminate its multi-year deal with the Australian men’s cricket team worth up to $50 million, but keep its sponsorship of the women’s game.

The prudential regulator is considering whether US fintech giant Stripe and London-based 10x Banking are illegally marketing “banking-as-a-service” offerings.

European natural gas futures jumped by as much as 18 per cent as the labour disputes at Woodside LNG appeared unresolved, potentially disrupting global supplies if staff proceed to strike.

Accounting bodies have softly lashed the corporate watchdog for axing its annual report card on big four accounting firms’ audit quality, cutting the program size, and ditching its chief accountant.

Spain await either the Matildas or England in the Women’s World Cup final after defeating Sweden 2-1 in a dramatic semi-final in Auckland that burst into colour in the final 10 minutes.

A Russian coal miner listed on the ASX will keep digging and shipping coal from Siberia to China despite the Foreign Affairs Department advising they are “likely” to be in breach of Australian sanctions imposed following Vladimir Putin’s invasion of Ukraine.

Latecomers to the Matildas’ bandwagon are increasingly out of luck when it comes to public displays of affection for the team that has captured the nation’s imagination.

Western Australia gold and nickel explorer Lunnon Metals was drumming up interest in a $20.5 million equity raising on Tuesday to bankroll work at its projects including Silver Lake-Fisher.

Pilbara legend Lang Hancock pleaded with his daughter, Gina Rinehart, to stop a barrage of criticism over his business and romantic dealings, asking her to “leave me alone to live the rest of my life in peace” as their relationship broke down in the late 1980s, a court has heard.

A reshuffle at the top of Chris Hadley’s Quadrant Private Equity has raised questions about what has become of one of its most senior figures.

Australia has managed to cut down the wait time of many of its popular visas to days, including student visas and temporary skilled visas. «The Department is streamlining Australia’s visa systems and process leading to big reductions in average visa processing times across a number of categories,» the Australian Department of Home Affairs said in a statement earlier this month. According to the statement issued on social media, Student Visas are now being processed within 16 days and Temporary Skilled Shortage 482 visas within 21 days. The Student Visa was taking up to 49 days to be processed at the start of the year. Moreover, the Employer Sponsored Skilled program: healthcare and education and Working Holiday visa (outside of Australia) are being processed within a day.

AP citing the police, Arif became disruptive and claimed to have explosives on board. He was charged with making a false statement about a threat to damage an aircraft and failing to comply with the cabin crew’s safety instructions, said the report. If proven guilty, Arif may have to serve upto 10 years in jail and pay a fine of more than 15,000 Australian dollars ($7,300).

IT services company HCL Technologies (HCLTech) on Tuesday said it has been selected by Cricket Australia (CA), the national governing body for the game in Australia, to drive its next phase of digital transformation. HCLTech has been a digital transformation partner to Cricket Australia since 2019.