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 […]

Australia’s peak body for online betting says punters should not be stopped from going into debt to bet. It comes amid concerns about problem gambling. “Ultimately, we think customers should have the right to choose and directly manage their own betting preferences,” Brent Jackson, Chief Executive at Responsible Wagering Australia, said on 3AW. “The evidence […]

Mining giant BHP will pay shareholders its biggest ever interim dividend of $US1.01 ($1.29) per share on the back of surging iron ore prices and a strong global economic recovery. The Big Australian’s 16 per cent jump in half-year profit was in large part due to China’s extraordinary output of steel, with Iron Ore accounting […]