Australia Financial News

Welcome to the weekend. To start off your day, we’ve curated 10 great reads to enjoy.

Rick Britten spent $11,000 with Qantas on a Top End business class trip for himself and his wife in late 2020 only to have it cancelled because of COVID-19 lockdowns. It was annoying, but nothing compared trying to claim the travel vouchers the airline gave him as credit.

China is lifting a stifling 3-year-old tariff on Australian barley in a sign of an improving bilateral trade relationship since Australia’s government changed

NEW DELHI : Food Corp. of India (FCI) has recommended the finance ministry remove import duty on wheat till February 2024 till fresh arrivals start to maintain the country’s food security and arrest rising food prices, a government official said. This recommendation comes over a year after the government banned wheat exports due to brutal heat waves that damaged wheat crops, sparking concerns about wheat availability in the country.

Tottenham Hotspur kick off the final phase of their pre-season schedule with a friendly match against Shakhtar Donetsk on Sunday. The upcoming game marks a significant moment for new manager Ange Postecoglou, as it will be the first time he oversees a match at the Tottenham Hotspur Stadium. Since his appointment, there have been glimpses of promise under the Australian manager, but challenges persist, particularly regarding the Harry Kane saga and the team's squad gaps. One of the key reasons for Postecoglou's hiring was his ability to extract more from underperforming players in the Spurs squad. As the match unfolds, all eyes will be on how the former Celtic boss continues to shape and impact the team's performance on the coaching pitch. Amidst the uncertainties surrounding the club, the friendly encounter against Shakhtar Donetsk presents an opportunity for Tottenham Hotspur to fine-tune their strategies and tactics ahead of the upcoming season. Fans and observers alike eagerly await to witness the progress made under Postecoglou's guidance and how the team will rise to the challenges that lie ahead.

Canaccord Genuity Group Inc. will take a restructuring charge after it let go of seven per cent of its North American staff, a response to its worst period in years for deal revenue.

World Trade Organization estimates that as of mid-July, 45 of the 104 restrictions on exports of food, feed and fertilizer that were introduced in the months after the invasion of Ukraine had been removed. It estimates that the remaining bans cover $24.5 billion of traded goods. “We must take care to avoid vicious circles of supply availability concerns leading to more export restrictions and higher prices," said Ngozi Okonjo-Iweala, the WTO’s director-general.

parliamentary committee on Friday batted for reducing the minimum age to contest Lok Sabha and assembly elections, saying it would give the youth equal opportunities to engage in democracy. According to the present legal framework, a person should be at least 25 years old to contest Lok Sabha and assembly polls. The minimum age to become a member of Rajya Sabha and state legislative council is 30 years. At present, the age at which a person can register as a voter is 18 years. For 'national elections' or Lok Sabha polls, it specifically recommended reducing the minimum age to contest from the present 25 years to 18. «After examining various countries' practices, such as Canada, the United Kingdom, and Australia, the Committee observes that the minimum age for candidacy in national elections needs to be 18 years. These nations' examples demonstrate that young individuals can be reliable and responsible political participants,» the Parliamentary Standing Committee on Law and Personnel said.

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The shares of Afterpay’s parent company, Block, tumbled by 10 per cent on Friday despite second quarter earnings beating forecasts and a stronger outlook, with the company calling out Australian spending as being more challenged than the United States.

Mesoblast investors are used to trying to read the tea leaves ahead of a major announcement. August 2 – the deadline the US Food and Drug Administration had given to rule on its latest application – proved to be no different.

The first two weeks of the long-awaited court showdown between the billionaire descendants of Australian mining pioneers would have been tough to watch for the country’s richest person, Gina Rinehart.

dollar hung back from a four-week high against major peers on Friday as investors looked ahead to a key jobs report that could influence the path for U.S. interest rates. Sterling traded slightly higher after recovering knee-jerk losses following the Bank of England's decision to downshift to a quarter point rate hike on Thursday.

Alberta withdrew its support for a bid centred around Calgary/Edmonton to host the 2030 Commonwealth Games on Thursday, ending any chance of bringing the multi-sport showcase event back to Canada for its centennial. The decision was another blow for the embattled Commonwealth Games Federation (CGF) after Hamilton, Ontario, which hosted the inaugural Games in 1930, suspended its bid and Australian state Victoria last month withdrew as host of the 2026 Games due to projected cost overruns.

jobless benefits increased slightly last week, while layoffs dropped to an 11-month low in July, labor department report showed. A separate report showed that the US services sector slowed in July. Investors will now focus on the jobs report for July that is due on Friday.

OTT platforms, Board of Control for Cricket in India (BCCI) set a higher base price for digital rights compared with TV. It has also reduced the overall base price to ₹45 crore per match for upcoming media rights cycle. The base price stood at ₹61 crore per match for Disney star paid in the recent cycle.

With the clock ticking on binding bids at BHP’s Blackwater and Daunia coal mines in Queensland, one suitor for the mega assets is facing opposition from its shareholders in what could be a windfall for rival bidders.

Bank of America has made two high-profile changes in its investment bank, building on a successful strategy of elevating Australian bankers into broader regional roles this year.

Four-year-old telco GigaComm, which is run and backed by former Macquarie Capital suits, is sounding investors for a chunky raising to bankroll the infrastructure it needs to get into a million Australian homes.

In a challenging economic climate, it’s never been more important for retailers to win over customers, develop innovative products and enter new markets. Technology is the variable that will elevate the winners in this epic battle.

Albemarle has distanced itself from Mineral Resources boss Chris Ellison and his attack on China after he pulled out of a billion dollar-deal lithium processing deal with the global battery chemical giant on the Chinese mainland last month.