Business

The state and federal governments announced a $10 million support package against an estimated $80 million redundancy bill while Jindal Group and M Resources race to buy the site.

Chief executive Dara Khosrowshahi reduced micro-teams by nearly half and removed management layers just four weeks after the company reported $1.9 billion in quarterly operating income.

Mining profits rebounded 6.8 per cent and everyone else went backwards. Inventory prices added $3.7 billion to the headline. The GDP print has since landed at 0.4 per cent.

Treasury analysis estimates AI could boost Australia's labour productivity growth by 4.3 per cent over the next decade, adding approximately $116 billion to GDP and $4,300 to per capita incomes.

A ballot of 350 Qantas Ground Services workers returned a 97 per cent vote in favour of protected industrial action on 31 August 2026, authorising stoppages of between one and 24 hours.

Official inflation figures say grocery prices are cooling. The shopping trolley tells a different story. A tracked basket of 20 identical Woolworths items cost $232.02 in July 2026, up from $213.89 in March 2025, a rise of $18.13 or 8.5 per cent.

Australia's private credit squeeze is spreading: CVS Lane has suspended investor redemptions after a Sydney developer's collapse, the second fund to narrow the exit inside a week.

The MA Secured Loan Series introduced a temporary redemption cap of 1 per cent of funds under management per monthly redemption period on 25 August 2026.