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There's mounting pressure on Qantas chairman Richard Goyder to consider clawing back bonuses awarded to chief executive Alan Joyce as the reputational crisis surrounding the airline deepens. There's mounting pressure on Qantas chairman Richard Goyder to consider clawing back bonuses awarded to chief executive Alan Joyce as the reputational crisis surrounding the airline deepens. Major investors ar...

ACCC chair Gina Cass Gottlieb wants Qantas penalty of more than $300 million by Peter Ryan

Competition regulator ACCC is taking Qantas to Federal Court alleging the airline advertised tickets for more than 8,000 flights that it had already cancelled but had not removed from sale. ACCC alleges deceptive, false and misleading conduct. Also Australia Post reveals a $200 million full year loss as the letters decline worsens and community service obligation costs weigh. Australia Post chief...

Future Fund chairman Peter Costello says the Albanese government's decision to restrict more flights from Qatar Airways is "hard to fathom" at a time when more competition is needed to lower airfares. The former Liberal Treasurer says the decision underscores Qantas's lobbying in Canberra to protect its market power and profits. Also the Australian Energy Market Operator says Victoria and South Au...

Consumer inflation slowed to a pace of 4.9 percent in August easing pressure for the Reserve Bank to raise interest rates again. The Bureau of Statistics says price rises for housing, food and non-alcoholic beverages were offset by falls for automotive fuel. Australian Banking Association chief executive Anna Bligh says financial institutions are doing their best to assist borrowers through cost o...

The Australian Securities & Investments Commission has put banks on notice to lift their game when it comes to helping customers who are experiencing financial hardship. I speak with ASIC Commissioner Danielle Press. Also Michele Bullock was coy on predicting the direction of interest rates in what's likely to be her final speech before taking over as Reserve Bank governor. Reporter: Peter Ryan, S...

Flight Centre founder Graham Turner says the federal government needs to better explain the decision block Qatar Airways from doubling its capacity into Australia. Mr Turner says with traveller demand for international flights outstripping supply, the decision - said to be in the national interest - makes no sense. The blocking of Qatar further embroils Qantas in controversy amid criticism the dea...

Virgin boss Jayne Hrdlicka rejects reasoning of "national interest" in Qatar veto by Peter Ryan

Virgin Australia chief executive Jayne Hrdlicka has questioned the federal government's decision to block Qatar Airways from running additional flights into Australia. Ms Hrdlicka's comments come as Qantas boss Alan Joyce faces pressure over whether he lobbied the Prime Minister to protect the Qantas market share. Reporter: Senior Business Correspondent Peter Ryan Featured: Jayne Hrdlicka, Virgin...

460 company directors urge "yes" vote in Voice referendum Caption: Hundreds of company directors are pushing for a "yes" vote in The Voice referendum. Speaking independently, 460 directors are urging Australians to assess the due diligence to reach their own independent view. Nora Scheinkestel, director at Westpac, Origin & Brambles speaks with ABC's Peter Ryan. Reporter: Senior Business Correspon...

There've been sharp falls on Wall Street this morning ahead of a major speech by the chairman of the US Federal Reserve Jerome Powell. He's begin speaking early tomorrow morning Australian time from Jackson Hole, Wyoming - and every word will be scrutinised for signs about the direction of US interest rates. But what the fascination with Jackson Hole - normally associated with fly fishing and the...

Qantas chief executive Alan Joyce says he has no regets for playing tough during his often turbulent 15 years at the helm of the airline. Mr Joyce retires in November, but leaves posting a $1.7 billion full year profit - the first for Qantas since the pandemic. Mr Joyce also defends Qantas's support of a "yes" vote in the Voice referendum and says the Prime Minister's son Nathan should not be a ta...

National Australia Bank chair Philip Chronican says the world will soon no longer want or need traditional commodities like coal and iron ore. He says a faster switch to renewables could add $435 billion to Australia's economy by 2025, but warns without action living standards could suffer. Reporter: Senior Business Correspondent Peter Ryan Featured: Philip Chronican, NAB chair

National Australia Bank chair Philip Chronican says the world will soon no longer want or need traditional commodities like coal and iron ore. He says a faster switch to renewables could add $435 billion to Australia's economy by 2025, but warns without action living standards could suffer. Reporter: Senior Business Correspondent Peter Ryan Featured: Philip Chronican, NAB chair

Woolworths chief executive Brad Banducci is optimistic that slowing inflation will eventually be passed on in cheaper supermarket prices. But Mr Banducci says there could be a lag with prices reductions not visible until after Christmas. Posting a full year profit of $1.6 billion, Mr Banducci confirmed a rise in shoplifting and incidents of organised gangs stealing goods and reselling them. Report...

With the Intergenerational Report to be released in full tomorrow, there's been a lot of concern about the ageing population and whether costs for the aged pension will crack under the strain. But there's some optimism this morning with the report predicting that because of compulsory superannuation since 1991, there'll probably be fewer people needing taxpayer support in the decades ahead.

Global miner BHP has posted a 58 percent fall in full year profit of US$12.9 billion (A$20.1 billion) as prices for iron ore, coking coal and copper slide. BHP chief executive Mike Henry says he's monitoring the health of China's economy and the level of stimulus Beijng pumps into the ailing property sector. Reporter: Senior Business Correspondent Peter Ryan Featured: Mike Henry, BHP chief executi...

BHP profit expected to slow as commodities boom fades by Peter Ryan

Insurance Group Australia reports a 140 percent increase in full year profit to $832 million. But IAG chief executive Nick Hawkins holds out little hope of lower premiums as the insurer manages inflation-fueled payouts and higher costs for reinsurance. Reporter: Senior Business Correspondent Peter Ryan Featured: Nick Hawkins, IAG chief executive

The Business Council fo Australia is warning that major economic reform is needed to ensure the federal budget can maintain Medicare, NDIS, aged care and defence. Releasing its "Seizing The Moment" paper, the BCA proposes to lower company tax, raise the GST and remove regulation to boost the renewables transition.

The Business Council fo Australia is warning that major economic reform is needed to ensure the federal budget can maintain Medicare, NDIS, aged care and defence. Releasing its "Seizing The Moment" paper, the BCA proposes to lower company tax, raise the GST and remove regulation to boost the renewables transition. Reporter: Senior Business Correspondent Peter Ryan Featured: Jennifer Westacott, BCA...

Australia's economy could at a critical turning point after the official jobless rate unexpectedly ticked higher to 3.7 percent in July. While the jobs market remains tight and economy for the most part is resilient, that could change dramatically in the coming months given the economic storm clouds ahead. Also .. Telstra CEO Vicki Brady on profits driven by the need for speed. And trivia about th...

Australia's economy could at a critical turning point after the official jobless rate unexpectedly ticked higher to 3.7 percent in July. While the jobs market remains tight and economy appears resilient, that could change dramatically in the coming months given the economic storm clouds ahead. Analysis from ABC's Peter Ryan. Reporter: Senior Business Correspondent Peter Ryan Featured: Stephen Kouk...

Australia's official unemployment rate rise to 3.7pc in July with the number of jobless people rising by 36,000 according to the Bureau of Statistics. The data adds to expectations that the Reserve Bank's interest rate hiking cycle is over unless inflation reignites.

National Australia Bank chief executive Ross McEwan has welcomed the deal struck by National Cabinet to ease the housing supply crisis. Mr McEwan is on the road on northern NSW where he says businesses are struggling to attract workers because there's not enough rental accommodation. Ross McEwan speaks with ABC's Peter Ryan.