Higher for longer and rates might go up again: That's the message we’ve got from the Reserve Bank of Australia on interest rates.   Rating agencies have put the Victorian government on notice after it revealed state debt would climb to $188 billion in a budget that failed to cut spending   The scale of the Bonza collapse has been revealed in court with almost 60,000 customers affected and lawyers claiming they would need a stadium to hold the thousands of creditors.   Perpetual will be broken up and its 138-year-old name sold to private equity giant KKR as part of the bigge ..read more

 Rupert Murdoch has failed in court to have his family trust amended to exclude other children and favour Lachlan. ANZ will bring in an international banking heavyweight to succeed outgoing chief executive Shayne Elliott when he leaves the big four lender mid-next year.   CSIRO slaps down major nuclear talking points promoted by Coalition leader Peter Dutton in its latest GenCost report, which confirms – yet again – that integrated wind and solar are easily the cheapest option   Woolworths strike chaos: $140M and counting! AI could disrupt 30% of Aussie jobs in 5 years—are we ..read more

Woolworths says two weeks of industrial action has cut $50 million in sales from its supermarket business as the retailer struggles to stock shelves. Higher than expected retail sales cast doubts on whether the Reserve Bank of Australia will cut rates. Many households find themselves under financial pressure, even as government rebates attempt to mitigate the impact of escalating energy prices. A new report by the BCA ranks Victoria as the worst state or territory for doing business, with more onerous regulations acting against growth and investment on a range of measures. Australian housin ..read more

RBA warns: US-China trade war could sink markets and rates! Australia's inflation stays within the RBA's target, but rate cuts remain on hold as the central bank awaits stronger evidence of easing price pressures. Super tax hike faces delay, uncertain future before election! Record deficit looms: Economic woes set stage for election showdown!" Amazon shakes up grocery market, rivals Woolies and Coles! Follow my socials on: https://twitter.com/leongettler https://www.instagram.com/leongettler/ https://www.linkedin.com/in/leongettler/ https://www.facebook.com/talkingbusinesspodcast https ..read more

We need a Labor Party in which the big issues are confronted,” former ACTU secretary Bill Kelty said, describing the Albanese government as instead being “mired in mediocrity”. Commonwealth Bank of Australia is exploring the possibility of replacing thousands of local call centre staff with a ChatGPT-style platform in an expanded use of artificial intelligence for customers. About two thirds of Australian baby boomers leaving the workforce don’t have enough pension savings to retire comfortably, according to research from the industry’s peak body.   Following the planned departure of N ..read more

The cheap Aussie airline Bonza, which is majority owned by Florida-based private investment firm 777 Partners, has appointed a voluntary administrator to run the discount regional airline after the company behind its aircraft provider repossessed its planes in Australia Star Entertainment chair David Foster latest to depart amid Sydney casino inquiry. Twitter Australia is expected to be wound up by the end of 2024 after new documents filed with the corporate regulator show it reported just $3.4 million in revenue in the first half of 2023, plunging more than 80% The corporate watchdog has r ..read more

Sam Altman is back at OpenAI as CEO, Greg Brockman, and the rest of the team is reinstated. Guess what? Open AI has new board members.   Fresh RBA minutes from its Melbourne Cup Day meeting revealed the central bank had left the door open for further rate hikes should inflation prove persistent.   Kelly Bayer Rosemarie has stood down as OPTUS CEO. She should get a generous payout as she goes. Say about 200 Terabytes of OPTUS mobile data?   Iconic Australia hatmaker Akubra is set to change ownership for the first time in five generations after being snapped up by Andrew Forr ..read more

Virgin surfs post-COVID boom to first profit in 11 years.     The Israel-Hamas war sends Aussie petrol prices skyrocketing. Senate committee suggests the Albanese government denied Qatar Airways more flights into Australia to protect Qantas’ market share and keep airfares high. The big four banks slash 2000 jobs. Boral says spiking electricity prices and Australia’s patchy energy transition are prompting the country’s biggest cement, concrete and asphalt producer to temporarily halt manufacturing.   Follow my socials on: https://twitter.com/leongettler https://www ..read more

Chinese leader Xi Jinping tells US President Joe Biden that he’s ready to work with Donald Trump Bluesky app designed for users to express themselves with peace, love and understanding. Because they say X is the problem.   Forget about a rate cut before the election! The Reserve Bank of Australia says it’s highly unlikely to cut the cash rate in either February or April.   Banking major National Australia Bank, or the NAB is in trouble on two legal fronts.   Treasury stun bankers by suddenly emailing them about a new regional services bank levy that proposes to redistribute rev ..read more

A Wall Street strategist has warned that Trump's proposed trade war raises the chances of a US recession to 75%. Australian Treasurer Jim Chalmers claims a US-China economic split under Donald Trump would undermine Labor’s plan to ramp up the export of green metals and hydrogen due to interruptions in global trade Australian billionaire Anthony Pratt will now live in the US deciding to move there because of Trump’s victory. New findings show that victims of work-related sexual harassment don’t have the option of reporting incidents anonymously at more than three in ten medium and large comp ..read more