Business

Insurance industry headaches could lead to higher premiums

Even as the Commonwealth Bank last week unveiled another record half-year profit of $5 billion, not everything was rosy — its life insurance arm CommInsure continues to be a headache, and with ASIC campaigning insurers to publicly report claim figures, premiums could rise as a consequence.

High debts, house prices mean no more rate cuts likely: Reserve Bank

Fears of inflating housing bubbles in Sydney and Melbourne are stopping the Reserve Bank from cutting interest rates to boost the economy, the central bank governor conceded today.

Wage growth remains at record lows

Australian workers continue to face record low wage rises, with the downturn in the mining sector driving the weak outcomes.

Coke's exit from SA after more than 75 years 'a blow' for Thebarton

For the people of Thebarton, the closure of Coca-Cola's bottling plant in Adelaide will be like having "your heart ripped out", a local historian says, who remembers touring the newly opened factory in 1951 as a child.

Supreme Court criticises Seven West execs over comments vilifying former employee

Seven West chairman Kerry Stokes and director Jeff Kennett are criticised by a NSW Supreme Court judge for their public comments vilifying former employee Amber Harrison.

Woolworths bounces back to profit after Masters disaster

Woolworths bounces back from a massive loss, driven by its failed Masters hardware experiment, to post a $725 million first-half profit.

Fairfax profit jumps; Domain spin-off being considered

Fairfax almost trebles its profit, posting net earnings of $83.7 million, while also confirming that it is investigating the spin-off of its real estate business Domain.

Fortescue Metals Group profit soars amid resurgent iron ore price

Perth-based mining company Fortescue Metals Group posts a big jump in profit to US$1.2 billion for the six months to the end of December, on the back of a surge in iron ore prices.

• BHP Billiton returns to profit