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Ordinary Australians continue to be hit by the rising cost of living. But it's a lot worse for Pacific Island workers who are being slugged with big fees to send money back home to their families. A paper out this morning from the Lowy Institute warns urgent action is needed to cut the costs of these overseas transfers given the reliance of families back home for life's essentials.

The "blame game" is well and truly underway as senate hearings into the tax leak scandal at the consulting giant PWC reveal a firm in deep damage control. But is that damage control working? It's getting tougher as current and former PWC bosses copped intense grillings about the breach of confidential information where the firm developed a "work around" of plans for a multinational tax avoidance c...

Former PwC Australia chief executive Luke Sayer tells a senate inquiry he was unaware of confidentiality breaches over multinational tax avoidance that triggered a scandal earlier this year. But Mr Sayers has apologised for the breaches conceding they happened on his watch as CEO. Earlier, new CEO Kevin Burrowes named Mr Sayers and another former CEO Tom Seymour when grilled about "failures of lea...

It was a horror ride on the sharemarket yesterday for Bank of Queensland after its full year profit plunged by a massive 70 percent with signs of stress emerging in its mortgage business. The regional bank has also been plagued by reputational problems after its high-flying chief executive George Frazis suddenly left the company late last year. I speak with former chair Patrick Allaway who's now t...

After weeks of pressure, Qantas chairman Richard Goyder has announced he'll step down and leave the airline some time next year. The decision follows growing anger from Qantas customers and shareholder groups demanding his retirement and greater accountability for members of the Qantas board. Mr Goyder's pending departure comes amid allegations that Qantas sold tickets for flights that didn't exis...

If you're already paying down a big mortgage, this will come as no surprise. Australians are devoting a greater share of their pay packets to mortgage repayments than any other advanced economy in the world according to the International Monetary Fund.

The deepening fears about a wider Middle East conflict stemming from the war between Israel and Hamas continues to rattle global financial markets.

Household financial stress rising, but Reserve Bank says banking system isn't at risk by Peter Ryan

Former Liberal Treasurer Peter Costello won't be seeking a third term as chairman of the federal government's Future Fund. A spokesman for Treasurer Jim Chalmers has confirmed Mr Costello's 14 year stint first as a board member then chair will end in February after 14 years. Mr Costello's decision to step down follows renewal at top institutions including the Reserve Bank and the Productivity Comm...

Newly-appointed Fair Work Ombudsman Anna Booth has vowed to use yet-to-be legislated criminal penalties against employers who deliberately underpay or rip off their workers. Ms Booth tells AM the risk of tough criminal sanctions including potential jail time would be a major deterent to dodgy bosses if proposed criminal wage theft laws are passed by Federal Parliament. Reporter: Peter Ryan, Senior...

Interest rates might have stayed on hold a few days ago, but the impact of twelve hikes since May continues to eat into household budgets. Delinquency rates on mortgage repayments rose in the most recent quarters .. the rates pressure exacerbated by the rising cost of living.

"a hawkish pause" from RBA gov Michele Bullock - but bets rising for Melbourne Day rate rise by Peter Ryan

Just a bit of good news to start the day. It's looking as though the Reserve Bank will leave interest rates on hold at today's board meeting in Sydney. But how long will that last given still-troublesome inflation sticking around and rising house prices especially in Sydney?

After twelve interest rate rises since May last year, bets are rising that troublesome inflation might force the Reserve Bank to deliver yet another rate hike in the coming months. While the RBA's cash rate looks like staying on hold at tomorrow's Board meeting, AMP chief economist Shane Oliver think a November rate rise on Melbourne Cup day is emerging as a real possibility. Reporter: Peter Ryan,...

The pressure is growing on former Qantas chief executive Alan Joyce to front a senate inquiry into a decision to block Qatar Airways into doubling flights into Australia. Mr Joyce - who retired from Qantas two months ahead of schedule - faces the threat of jail if he doesn't appear.

After what feels like a reprieve after twelve interest rate rises since May last year - could we be in for another hike maybe as early next week? That's the view of some economists after inflation ticked higher in the most recent monthly reading - something that might test Michele Bullock at her first meeting as Reserve Bank governor. Also .. a highly-anticipdated review into governance, culture a...

A highly-anticipdated review into governance, culture and accountability at consulting giant PwC has singled out the "excessive power" of the firm's chief executive and poor practices which went "unexamined and uncorrected" for years. The report by former Telstra chief executive Ziggy Switkowski also finds a "disproportionate focus on revenue" and a "lack of independence and external voices" withi...

Ziggy Switkowski's damning PwC review. I speak with PwC Aust CEO Kevin Burrowes on "PM" by Peter Ryan

A highly-anticipdated review into governance, culture and accountability at consulting giant PwC has singled out the "excessive power" of the firm's chief executive and poor practices which went "unexamined and uncorrected" for years. The report by former Telstra chief executive Ziggy Switkowski also finds a "disproportionate focus on revenue" and a "lack of independence and external voices" withi...

After months in the making, the much-anticipated independent review into the tax leak scandal at consulting firm PWC will be released later today. The report by former Telstra chief executive Ziggy Switkowski is set to announce a major overhaul of governance, culture and accountability at PWC where a rolling crisis from a major confidentiality breach has trashed the consulting giant's reputation....

Pressure is continuing to grow on Qantas chairman Richard Goyder - this time from pilots who are calling for his head. The Australian and International Pilots Association is urging Mr Goyder to step down saying they've lost confidence in him after a rolling crisis that's have damaged the Qantas reputation.

Qantas' new CEO, Vanessa Hudson, released an apology video as one of her first communications in the role, which Alan Joyce brought forward by his early retirement. This move — potentially considered by some as a substantial 'hospital pass' — isn't off to a strong start. Qantas' current woes are well-documented; from selling seats on non-existent flights to major court losses, chronic lost luggage...

Final budget outcome; new Qantas CEO Vanessa Hudson apologises "I know we've let you down" - and of course Rupert Murdoch's retirement. I speak with John Taylor on ABC Radio Brisbane @abcbrisbane @abcnews

Rupert Murdoch retires, hands over the son Lachlan. I speak to the BBC World Service. by Peter Ryan

Rupert Murdoch retiring, hands over to son Lachlan. I speak with author Paddy Manning. by Peter Ryan