Despite tens of billions of dollars being spent to address Australia’s crippling housing crisis, a top economist has delivered a stark assessment of how long it will take to turn the tide. And it’s not good news for those battling skyrocketing rents and runaway home prices. On top of that,Continue Reading
The Victorian Greens have proposed profit caps on household staples in a bid to crack down on supermarket price hikes. Under the draft laws, to be released on Tuesday, the state government would be given the power to declare products like fruit, vegetables, bread and milk as an “essential groceryContinue Reading
Supermarket giant Coles has signed a major deal with an American data intelligence firm that provides high-level analytical technology to the CIA and the Pentagon. Experts warn the arrangement with Palantir could lead to job losses and vast cost-cutting, as the company seeks to save $1 billion in operating expensesContinue Reading
A Chinese fast fashion online store will set up a popup shop in Brisbane. The online retailer SHEIN is set to unveil their shop in Mitchelton, Brisbane, on Friday February 9. It will be the sixth popup in Australia, following wildly successful iterations in Melbourne and Sydney. The shop willContinue Reading
Supermarket shopping has become a dreaded experience for many Australians as they contend with the cost of living crisis and try to work out how to feed their families and themselves without blowing the budget. Prices of some items have creeped up by 33 per cent in the last 18Continue Reading
The price of a single pint at a pub in a Sydney tourist hub has left Aussies gobsmacked. Taking to Reddit on Monday, a consumer shared a photo of the beer (brewer unknown) and its accompanying $17.80 price tag on the EFTPOS console at the Harbour View Hotel in TheContinue Reading
Australia’s foreign-owned beer “duopoly” behind the likes of VB and Toohey’s has been accused of freezing out small local brewers from pub taps with “anti-competitive” contracts. Independent brewers have long complained about being unable to compete with lucrative deals offered to venues by deep-pocketed multinationals, including cash rebates and otherContinue Reading
Australia’s national carrier, Qantas Group, has announced a record full-year underlying profit of $2.47bn, representing a dramatic financial turnaround for the country’s largest airline. The result is the company’s first profitable result since FY2019 after it incurred more than $7bn of statutory losses during the pandemic. After tax, Qantas statutoryContinue Reading
Alan Joyce has defended Qantas’ decision to keep $2.7bn in taxpayers’ money despite posting a record-breaking profit. In the company’s first profitable result since before the pandemic, Qantas on Thursday announced a record full-year underlying profit of $2.47bn for the full year of 2023. Qantas’ record payday has renewed pressureContinue Reading
Supermarket giant Coles has confirmed an emerging trend of shoplifting across the country, as inflated prices push more people to take desperate action. On Tuesday, the retailer posted a $1.1bn net profit for the 12 months to June 2023, up 4.8 per cent on its 2021-22 profit result. Despite consumersContinue Reading