Supermarket giants Coles and Woolworths expect to spend hundreds of millions of dollars more to repay staff the companies underpaid, following a legal judgement experts say could have wide-reaching implications.
Topic:Explainer
ASX rockets up, while Latitude, Harvey Norman lose appeals — as it happened
The ASX rallies on views that a weaker global economy will see further interest rate cuts, which is positive for shares. And the full Federal Court dismisses Latitude and Harvey Norman’s appeals in an ASIC case.
$57b wiped off Aussie share market after worst trade in five months — as it happened
The Australian share market was unmoved by higher GDP figures released today, and dived on global worries about bonds, higher interest rates and losses on Wall Street. Meanwhile, chances of a September rate cut have "probably disappeared". See how the day unfolded on our business blog.
Gold price hits record, ASX slips on retail sell-off — as it happened
Local stocks end lower as the retail sector gets hit and Woolworths and Wesfarmers trade ex-dividend. See how the trading day unfolded on the business blog.
Share prices go wild while earnings have 'basically done nothing'
The ASX at record highs is 'overvalued', according to market analysts, who say investors are paying too much for shares, considering some of Australia's largest companies revealed underwhelming profits during the August reporting season.
ASX 200 shed 0.5 per cent on bank and tech sell-off, gold hits a fresh high as US dollar slips — as it happened
The ASX closed lower as banks, miners and tech stocks struggled.
Australia Post sounds the alarm on its business model as ASX soars close to record — as it happened
Australia Post produced a "modest" profit of $18m in the last financial year, as its profitable parcels business faces intensifying competition from private shipping companies, and its loss-making letters business continues to decline.
$90 million penalty 'absolutely not' cost of doing business, Qantas boss says
Qantas reports a 28 per cent rise in net profit as boss Vanessa Hudson says the company will "learn from" the fallout of its unlawful outsourcing of ground handling, which resulted in a $90 million fine and $120 million in compensation.
Qantas shares soar to record high — as it happened
Qantas shares have risen strongly following a better-than-expected $1.6 billion net profit. CEO Vanessa Hudson said the $90 million fine for illegal outsourcing was "absolutely not" the cost of doing business. Meanwhile, the share market inched closer toward another record high.
Star under another cloud as bankers lose patience
It's the last roll of the dice for what was once one of the country's biggest casino groups, as yet another dispute with exasperated bankers delays a potentially lifesaving deal.
Woolworths shares plunge as supermarket earnings disappoint — as it happened
The Australian share market has risen, while individual stocks, including Woolworths, Domino's Pizza, Flight Centre and Tabcorp, have made major moves. Wall Street closed higher despite Donald Trump's decision to sack a Federal Reserve governor.
Telco Exetel fined $694K for anti-scam breaches
Scammers were able to gain control of mobile number services and access consumers' bank accounts, with reported losses of at least $412,000.
Musk's AI startup xAI sues Apple and ChatGPT maker
The lawsuit alleges that Apple and OpenAI have "locked up markets to maintain their monopolies".
RBA poised for 'faster' rate cuts, ASX eases — as it happened
The Reserve Bank's August interest rate meeting minutes show the central bank is poised to lower interest rates "faster" should the unemployment rate rise. See how the trading day unfolded on the ABC News live markets blog.
ASX gives up big early gains to end marginally higher — as it happened
After a strong lead from Wall Street, the ASX spent most of session on the slide with gains in miners and energy stocks just outpacing losses in banks and retailers.
$4 trillion of super at risk of potential market plunge
The Australian share market has made history by surpassing 9,000 index points, which is a boon to millions of workers' super funds. But analysts are not sure how long it can last.
ASX retreats from record as markets await Fed chair speech — as it happened
After crossing 9,000 points for the first time, the ASX 200 dipped in early trade, with traders bracing for an address by Jerome Powell to a central bank symposium.
Donald Trump backs BHP, Rio Tinto over US copper mine
The mining giant has taken its lobbying efforts to Washington DC after a US appeals court temporarily blocks the Trump administration from handing a sacred tribal site over to Resolution Copper.
ASX 200 closes at new high above 9,000 points in broad-based rally
The benchmark index added 1.1 per cent on Thursday, with all sectors rising as stocks climbed to fresh records. Take a look at how the trading day unfolded plus analysis from our specialist business reporters on the markets blog.
CSL shares fall for second day, James Hardie nosedives — as it happened
The Australian share market closed in positive territory, led by the financial sector. That's despite heavy losses for some stocks, with James Hardie slumping more than 25 per cent and CSL declining again. Look back on the day's events and insights from our business reporters on the ABC News markets blog.
CSL shares dive as biotech firm flags more than 3,000 job cuts — as it happened
Biotech giant CSL saw its share price tank on Tuesday, which dragged the ASX down. Look back on the day's events and insights from our business reporters on the ABC News markets blog.