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🦘 CBA Profits Set For A Dip, Good News For Renters (Finally), Albo Considers Gambling Ad Restrictions
Hold onto your hats, folks! The Commonwealth Bank (CBA) is ready to reveal its full-year financial results, and it's a mixed bag. They’re forecasted to report a net cash profit of $9.77 billion, slipping 5% from last year's record $10.2 billion.
🦘 Aussie Renters Are Getting Desperate, JB Hi-Fi Promises More Discounts, Push To Pay 18 Year-Olds The Same as Adults
Australia's rental scene is in crisis mode! New figures from Commonwealth Bank Australia reveal rents are skyrocketing at the fastest pace in over a decade. With demand crushing supply, more Aussies are shacking up with roommates or moving in with family.
🦘 Childcare Workers Get Huge Pay Increase, Save On Your Coles Shop With This Chrome Plugin, Qantas Ex-CEO Takes $10 Million Pay Cut
Good news, child care workers! Prime Minister Anthony Albanese has greenlit a 15% pay hike, adding at least $8,000 to annual incomes by December 2025. While it’s 10% less than what workers originally lobbied for, this boost is still significant.
🦘 Aussie Shares Recover From Correction, Universities Outraged By International Student Cap, ATO Warns Against This Common Tax Error
The Australian share market saw a modest climb for the second consecutive day, as bargain hunters stepped in to take advantage of the recent dip. This uptick was largely driven by a stronger-than-expected US Services PMI, which helped alleviate fears of a looming recession in the world's largest economy.
🦘 RBA Squashes Christmas Rate Cut Hopes, NSW Premier Orders Return To Office For 400,000 Workers, Queensland Government’s Plan For Affordable Petrol
The RBA has decided to keep interest rates at 4.35% and quickly squashed any hope of a rate cut before Christmas. RBA Governor Michele Bullock made it clear in a recent press conference that any predictions of “near-term” rate cuts are overblown.
🦘 ASX Monday Market Mayhem, Innovative Solution For Rising Mortgages, Aussie Businesses Put Their Eggs in the AI Basket
The Australian stock market just got a serious reality check, diving by a whopping 3.7%, which is the most significant drop we've seen since the pandemic lockdown era. Ouch, that’s over $100 billion gone!
🦘 USA Sends Global Markets Into A Freefall, Rate Cut Hopes Increasing, The Disturbing Number of Homeless Kids
Buckle up, folks – it's a rocky ride in the world of stocks. This Friday, global markets took a nosedive as jitters over the US economy's health sparked a selling frenzy. The S&P 500 slid 2.5%, its worst dip since 2022, and the Dow Jones plummeted by 954 points. Tech-heavy Nasdaq wasn't spared, dropping an eye-popping 3.2%, putting it 10% below its July peak.
🦘 Banks Refunding Scam Victims, Unwelcome Housing Statistics, Handy Side Hustle Helping Aussies Save For Homes
Australia's Assistant Treasurer Stephen Jones is rolling out a plan to make banks, telcos, and social media companies cough up refunds for scam victims. With Aussies losing a whopping $2.7 billion to scams last year, the current system isn't cutting it, with only a tiny fraction of losses being reimbursed.
🦘 Concerning Housing Crisis Figures, Aldi Prioritizes Lower Prices, Westpac and Optus Team Up Against Scammers
Australia's housing ambitions face a brutal reality check as new building approvals nosedived by 6.5% in June, down to 13,237, marking a troubling trend for the nation’s housing targets. As the Australian Bureau of Statistics (ABS) released these figures ahead of crucial inflation data, industry professionals are sounding alarms.
🦘 Big Win For NSW Renters, Rate Cut Hopes Continue to Fade, Australia’s State Rankings
Renters in New South Wales are celebrating a major win as the government moves to ban no-grounds evictions, providing tenants with much-needed security. Premier Chris Minns has announced new legislation to kick in later this year, putting an end to sudden, baseless eviction notices that have left many on the edge of homelessness.
🦘 The Richest Get Richer, Australia’s Sick Leave Dilemma, Aussie Cafes Doing It Tough
While the rest of us have been tightening our belts, Australia's billionaires have been enjoying a windfall, growing their fortunes by an eye-popping $82.2 million a day. Oxfam's latest report reveals that since 2020, the collective wealth of the nation's richest has ballooned by a staggering 70.5%.