The Australian sharemarket rebounded near noon AEST, driven by gains in the big four banks and Iress, which jumped after naming a new CEO. However, Woodside and Santos experienced declines. Domino’s shares rose after the chairman purchased $5 million worth of shares.
A robo-debt class action has been settled for a record-breaking sum, marking the largest government payout in Australian history. Separately, a Liberal senator is proposing changes to allow couples to combine or split their superannuation balances.
Macquarie is reportedly winning 40 per cent of all new home loan business, achieving lending growth 6.4 times greater than the average of the big banks in July. Brokers attribute this success to faster approvals and deal certainty. Macquarie is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities.
Mineral Resources (MinRes) faces accusations of work safety breaches following a recent truck crash in Western Australia. A whistleblower alleges that fatigued drivers on the haul road are being pressured to work beyond regulated hours and falsify timesheets.
