Australia Financial News

The puzzle of the week is Walter Sofronoff. How could the former judge have thought it was a good idea to share his final report on the prosecution of Bruce Lehrmann?

NBN Co will not seek more revenue per user this year despite increasing inflation, as it prepares its fourth attempt at setting new pricing for retailers including Telstra, TPG and Optus.

Mining magnate Lang Hancock succumbed to pressure from his wife, Rose Porteous, and her desires to live a luxurious lifestyle, prompting him to wrongly transfer land now subject to a multibillion-dollar legal battle, a court has heard.

Downer EDI chief executive Peter Tompkins has pledged to deliver consistent earnings and monitor project performance more carefully after the contractor hired a new chief risk officer and sealed an annual net loss of $386 million.

Zip has appointed Cynthia Scott as its new chief executive, with co-founder Peter Gray moving to head the buy now, pay later group’s Australian and New Zealand division.

The Australian Taxation Office is driving a bump in insolvencies and corporate stress as it chases $30 billion in debt from small and medium businesses, Commonwealth Bank executive Michael Vacy-Lyle says.

Reuters further reported Biden is not anticipated to travel to Indonesia. Furthermore, a Washington-based ambassador representing an ASEAN member revealed that Indonesia was informed on Monday about Biden's decision to not attend. Asked if it was correct that Biden would not be going to Indonesia, a senior White House official told Reuters on Tuesday: "We're still working on it ...

Suzlon Energy shares jumped 5% to the day's high of Rs 20 in Thursday's early trade after the company's Board approved to launch qualified institutional placement (QIP) to raise up to Rs 2,000 crore. The QIP will be of Rs 1,500 crore, with an oversubscription option of Rs 500 crore. The issue opened on Wednesday.

A small town in Australia is reeling after three people died in quick succession, with another fighting for his life, after they went to lunch with their relative who still remains unharmed. The case has captured international attention over speculation that the host may have poisoned her guests with death cap mushrooms.

Federal Reserve's monetary policy path. The announcement of a U.S. ban on investments in sensitive technologies in the world's second-largest economy also weighed on sentiment.

dollar held near the centre of its range this week against a basket of major peers, as investors awaited key U.S. inflation data later Thursday that could influence the path for Federal Reserve policy. The U.S.

inflation data in the US due later today. Concerns over deflation in China dented sentiment. Data showed China’s consumer prices dropped 0.3% in July from a year ago, while producer prices fell 4.4%.

ASX-listed base and precious metal explorer Rumble Resources has drafted in Wilsons for a $10 million capital raising to fund exploration, Street Talk understands.

Commonwealth Bank is lifting the bar on oil and gas producers’ access to financing, requiring fossil fuel producers to provide detailed plans that disclose carbon emissions through the supply chain.

Embattled professional services giant PwC has lost two lawyer partners in the past week and others are expected to follow suit once they have worked out notice periods of six months.

The chief executive of Boral says the Australian economy will begin to grow again next year with the housing market reviving and inflation rising more slowly, flagging higher earnings at the building materials giant.

The family of mining pioneer Peter Wright has known for decades that it has no claim to the billions of dollars flowing from Hancock Prospecting’s Hope Downs iron ore mines, lawyers claim.

Blocking Qatar Airways from adding flights will cost the economy more than $500 million a year in tourism revenue, according to industry modelling, but Transport Minister Catherine King told parliament the decision was made to protect local jobs.

inflation data that could provide clues to investors on Federal Reserve’s monetary policy path. The S&P 500 fell 31.47 points, or 0.70%, at 4,467.91 points. The Dow Jones Industrial Average dropped 186.92 points, or 0.53%, at 35,127.57.

India1 is set to transform itself into a fintech company from being the top white-label ATM services provider. While the fintech businesses could take time to deliver profits, the ATM business keeps ringing in the cash. “We are looking at revenue streams beyond white-label ATMs,” said K Srinivas, managing director and CEO of India1 Payments. “Besides providing switching services to smaller banks to connect their ATM network, we are also working as a digital loan facilitator by connecting our 54 million customers who are already on our digital platform to potential lenders,” he added. India1 Payments, in which ICICI Ventures has about 49% stake, is promoted by Australia’s Banktech group. The company plans to leverage its customer base using its white-label ATM platform by being an account aggregator and connecting those interested in small-ticket loans with the potential lender. This could earn the company a fee-based income for the concluded transactions. The company will also continue to expand its mainstream business of providing white-label ATMs in semi-urban and rural areas where it is already having a strong presence and increase its ATM network and expand its regional spread. India1 Payments currently manages 12,200 white-label ATMs throughout the country and plans to double the count by rolling out another 12,000 more ATMs over the next five years.

When Anna McGrath took the reins from former local Aldi boss Tom Daunt, he told her: “Don’t hold back.”