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Business and Industry Regulation

APRA boss Byres to stand down early from bank regulator

By business reporter Michael Janda
The head of Australia's bank regulator will end his term almost two years early, announcing he will step down from his role at the end of October.
Posted Updated
A head-and-shoulders shot shows a middle-aged white man in a dark suit and red tie with short cropped dark hair

Government announces funding for customers of collapsed funeral fund

By consumer affairs reporter Amy Bainbridge and the Specialist Reporting Team's Loretta Florance
Four months after a funeral insurer collapsed, leaving thousands of First Nations customers out of pocket, the government offers funding to cover funerals. 
Posted Updated
Bettina Cooper stnads in her office.

'Out of date and out of fashion': Reserve Bank to face scrutiny in review

Former senior RBA economist and current chief economist at the Centre for Independent Studies Peter Tulip says the RBA needs to cast aside the secrecy. The bank's secret workings are about to be scrutinised in a wide-ranging review.
Posted
Duration: 4 minutes 9 seconds

Former carbon pricing mastermind Greg Combet backs proposed fix for Australia's energy crisis

By National Energy Reporter Daniel Mercer
Former federal climate change minister backs proposed fix for crisis-riddled national electricity market, calling for ideology to be taken out of debate.
Posted Updated
A man with short brown hair and glasses wearing a suit

'Unprecedented growth in house prices': OECD calls for cap on housing tax breaks benefiting the rich

By business reporter Nassim Khadem
Capping tax breaks for housing could help reduce house prices and ensure that property is not concentrated in the hands of older and wealthier Australians, the OECD says. 
Posted Updated
a skyline with houses

'Shouldn't be paying to keep coal and gas': Green energy backers attack capacity market proposal

By energy reporter Daniel Mercer
Renewable energy advocates are warning against locking in extra payments for coal and gas, saying it could derail the switch to clean power.
Posted
A shot of the tesla powerpack with the company logo visible.
analysis

analysis: Why is eastern Australia running short of gas and will an emergency intervention help?

By energy reporter Daniel Mercer
In a sign of the times, authorities are again forced to intervene in Australia's energy market, this time to keep the gas flowing to Victoria in a reversal of the state's recent history as a gas provider.
Posted Updated
Aerial shot of massive oil and gas rig in the Bass Strait off Victoria

ANZ announces $5 billion Suncorp Bank takeover

Suncorp has accepted a $4.9 billion bid from ANZ to take over its banking business, as the big four bank seeks to accelerate its growth.
Posted
Duration: 3 minutes 8 seconds

ANZ announces $5 billion Suncorp Bank takeover

By business reporter Michael Janda and senior business correspondent Peter Ryan
Suncorp accepts a $4.9 billion bid from ANZ to take over its banking business, as the big four bank seeks to accelerate its growth.
Posted Updated
suncorp bank
analysis

analysis: Why a desperate China has backflipped on Australian coal

By business editor Ian Verrender 
With China's economy in danger of going off the rails, Beijing can no longer afford to inflict upon itself the kind of self-harm its trade sanctions have wreaked, writes Ian Verrender.
Posted Updated
Two Chinese flags flutter in the wind at a shipping port.

Melbourne shops sitting empty while commercial rents soar

Special pandemic rules which forced a fairer playing field between landlords and businesses have now expired.
Posted
Duration: 3 minutes 25 seconds
analysis

analysis: Australia is grappling with its worst ever energy crisis. Experts say Victoria holds the key to a fix

By energy reporter Daniel Mercer
As state and federal energy ministers strive to solve the nation's power crisis, Victoria is looming as a gatekeeper to a possible solution.
Posted Updated
Smoke blowing into sky out of power plant chimneys.

America's biggest companies are abandoning China and it's not just because they fear Beijing's power

US billionaires once believed the "sky would be the limit" when it came to making money in China, however, in recent months, several tech giants — including Amazon's Kindle and Airbnb — have joined a growing exodus from the country. 
Posted Updated
A happy Jeff Bezos.

Some of Australia's most disadvantaged postcodes paid millions to company that collapsed

By the specialist reporting team's Loretta Florance and Kirstie Wellauer
New data shows that when funeral insurance company Youpla went into liquidation in March, some of Australia's most disadvantaged towns paid the heaviest price.
Posted Updated
Allenby Ambrym stands with his arms crossed.

Gambling reform advocates call proposed reform ‘window dressing’

ClubsNSW has proposed setting up an independent panel to determine if relatives of at-risk gamblers can invoke bans.
Posted
Duration: 6 minutes 12 seconds

How Afterpay's co-CEOs earned more than 2,800 times the average wage

By business reporter Nassim Khadem
Afterpay's co-CEOs and founders Anthony Eisen and Nick Molnar are Australia's highest-paid executives, collecting a combined $264.2 million – together they earn more than 2,800 times the full-time average wage.
Posted Updated
Anthony Eisen and Nick Molnar Afterpay_R 0040 copy.jpeg

A 'kill switch' and a President under pressure: What we've learned from the Uber Files

As the whistleblower was revealed and the fallout hits France's President, here's a quick look at the so-called Uber Files.
Posted
A person with blue nail polish holding a phone with the Uber logo on it

Labour market a silver lining amid rising cost of living

While the cost of living continues to soar, a rising number of job vacancies is a slightly overlooked piece of good news.
Posted
Duration: 2 minutes 8 seconds

Traditional owners concerned about impact of energy crisis on sacred sites

Indigenous communities are worried that sacred sites will become collateral damage, as resource companies push to produce more gas.
Posted Updated
Duration: 5 minutes 8 seconds
analysis

analysis: 'They can feel misled': Households took on massive debt because the RBA said rates wouldn't rise

By business reporter Nassim Khadem
Australians were told interest rates wouldn't rise until 2024. Has the Reserve Bank failed in its communication, and how could rate rises impact financial stability, Nassim Khadem asks.
Posted Updated
A real estate 'sold' sign outside a house in Sydney.

Borrowers should be able to handle latest rate hike, economist believes

Proptrack senior economist Eleanor Creagh believes most borrowers should be able to absorb the latest rate hike to 1.35 per cent.
Posted
Duration: 2 minutes 13 seconds

With another interest rate rise likely next week, Barbara is bracing for tough times ahead

Barbara Aldridge's second-hand book business is amongst the first to feel the impact of interest rate rises — and she's especially worried about the impact on younger mortgage holders.
Posted Updated
A woman surrounded by bookshelves full of books.

Authorities launch independent review into Adelaide's SkyCity casino

South Australian authorities have launched an independent review of Adelaide's SkyCity casino after interstate probes pointed to broader systemic issues within the industry.
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The SkyCity casino and Adelaide Railway Station building.

AEMO wants $12 billion to upgrade east coast electricity grid

The energy market operator believes renewable energy could at times provide 100 per cent of electricity on the east coast as soon as 2025.
Posted
Duration: 6 minutes

John Barilaro should withdraw from New York trade job, David Elliot says

The senior NSW minister says the former state Deputy Premier should step down from a new plum role as trade commissioner.
Posted Updated
Duration: 4 minutes 21 seconds