Tropical Storm Harvey has inflicted more damage on the heart of the US energy industry overnight after flooding the biggest US refiner in Texas and then churning into Louisiana, causing fuel shortages and high petrol prices that could afflict the country for weeks.2 million barrels of US refining capacity has been shut by Harvey, based on company reports and Reuters estimates.
New evidence suggests there have allegedly been large-scale failures in risk management and transaction monitoring across a number of Commonwealth Bank of Australia businesses globally.Billions of dollars have been wiped off CBA's market value since AUSTRAC's allegations first came to light and the bank now faces the threat of a class-action lawsuit by shareholders.
The Reserve Bank of Australia is set to leave interest rates unchanged for a thirteenth straight month as it waits for the gradual easing of growth in the housing market to play out while hoping for economic growth to pick up.All 13 economists surveyed by AAP expect the central bank to leave the cash rate steady at a record low of 1.
Volkswagen has followed rivals by offering discounts on new cars in return for taking older, more polluting diesels off the road in the UK and Europe.The offer will mean the owners of older diesels are being able to get up to almost $AU9750 off for the largest vehicles.
From November, Qantas will offer a variable discount of up to 30 per cent for residents in Broome, Kalgoorlie, Karratha, Paraburdoo, Port Hedland and Newman to travel to Perth.It comes after the state government this year launched a parliamentary inquiry into regional airfares, which remains underway.
The national accounts for the June quarter are due on Wednesday as parliament sits for two weeks.After a series of positive results for retail spending, construction and business investment, economists are predicting a growth rate of around 0.
Commonwealth Bank has appointed NSW Treasury Corporation's director Robert Whitfield to its board as it battles money laundering-terror funding allegations.Chairman Catherine Livingstone said Mr Whitfield, who has taken on the role as an independent non-executive director effective immediately, brings with him extensive risk management and public sector banking experience, including senior roles during a 30-year career at Westpac.
2 million this year, almost $1.6 million less than he did a year ago as the telco's plunging share price weighs on his share entitlements.
9 million on the back of strong earnings growth and lower financing costs.The steel maker said sales revenue for the 12 months to June 30 rose 17 per cent to $1.
Hundreds of American cities are banking on an out-of-this-world pay day as the country prepares for the 'Great American Eclipse'.A 70-mile wide swathe of the country, stretching from the Pacific coast to the Atlantic, falls in the 'zone of totality' and will experience a complete blackout at the eclipse's peak.
Bringing IVP on board as a shareholder would be an undoubted coup for the British company.Specialising in investments in fast-growing, late-stage technology companies, its portfolio includes startups which have gone on to become some of the world's best-known and most valuable tech brands.
Caltex Australia chairman Greig Gailey has retired from his position and resigned as a non-executive director for health reasons.The fuel retailer on Monday said Mr Gailey, who has been chairman since 2015 and on the Caltex board since 2007, will be replaced by current non-executive director Steven Gregg.
Internet providers will have to advertise minimum download speeds NBN customers can expect at peak times or potentially face prosecution, under new guidelines set by the consumer watchdog.The Australian Competition and Consumer Commission (ACCC) has moved to protect NBN customers from misleading broadband speed offers, paving the way for providers to be prosecuted for misleading claims, such as ads using 'best-case- scenario' broadband speeds.
6 per cent.The company's Michael Hill stores in Australia lifted earnings before interest and tax by 3.
Logistics firm Brambles has slid 69 per cent in full-year profit to $US182.9 million ($A230.
Fittings supplier GWA Group has posted a flat statutory net full-year profit to $53.68 million, although profit from continuing operations was up 3.
The world's fourth-biggest iron ore exporter on Monday reported net profit of $US2.64 billion) for the year to June 30, in line with analyst expectations and up from $US985 million a year earlier.