Fortescue Metals Group is on track to record its best-ever year for iron ore exports as prices hit new record highs. The company shipped 42.3 million tonnes of iron ore in the third quarter alone. Fortescue CEO Elizabeth Gaines told Brooke Corte the strength of iron ore prices is underpinning their success. “Given what we’ve seen […]

The post-pandemic housing boom could result in a 17% rise in national house prices, according to ANZ. ANZ CEO Shayne Elliott says the bank is seeing 20 to 30% more home loan applications than before COVID rattled the economy. To date, there has been little indication from regulators that any intervention is necessary to slow […]

The biggest one-month jump in house prices in 17 years and surge in new home loans has prompted warnings the Australian property market is at risk of overheating. It could force the Reserve Bank to review record-low interest rates. It’s a stark contrast to what economists largely predicted this time last year. Shane Oliver, chief […]

Nine Entertainment Co, Australia’s biggest media company, defied the pandemic induced advertising slump to post a net profit of $182 million for the December half, an increase of 69 per cent. The bumper financial result came on the same day the Senate passed the government’s Mandatory Media Code of Conduct, which ensures tech giants Google […]

Ampol says it’s “reviewing” the future of its Lytton oil refinery in Brisbane after the division posted a $145 million loss. Australia only has four oil refineries, two have already announced their closure. The federal government has offered financial support to keep the refineries operating. Ampol Chief Executive Matt Halliday has told Brooke Corte the […]

Australians spent roughly $50 million a day at Bunnings in the six months to December 31, sending earnings for the period through past $9 billion. The retail splurge continued at Kmart, Target and Officeworks, helping retail giant Wesfarmers post a 23 per cent jump in net profit to $1.39 billion. Investors will be rewarded with […]