business

Hundreds of employees have been made redundant or told to stand down at a Darling Downs construction company.The Dalby-based Ostwald Bros was placed into administration on Monday, with 260 redundancies announced on Wednesday and 140 asked to stand down pending the outcome of discussions with contractors.

The call by consumer group Choice comes after a study of 1051 complaints from Australia, New Zealand and Britain ticket buyers found three quarters of them thought they had bought their tickets from an official online seller rather than a resale website.Many people who use resale sites end up being turned away from events because venues automatically cancel their tickets.

Building materials maker Boral expects Australia's property market to ease this financial year but predicts strong growth on the back of a wave of major infrastructure projects.8 per cent per cent to $4.

The competition watchdog's proceedings against Medibank for allegedly misleading customers over changes to benefits has been dismissed by the Federal Court.The Australian Competition and Consumer Commission launched the case in June 2016, accusing Medibank of unconscionable conduct, and deliberately failing to notify its members and members of its ahm subsidiary about new limits on pathology and radiology benefits that kicked in from September 2014.

Online travel booking business Webjet has more than doubled its full-year profit to $52.4 million, helped by strong bookings growth and integration of its Online Republic acquisition.

5 million in payroll tax by being given charitable status.The Supreme Court on Thursday ruled against Business SA's appeal over a decision of the Commissioner of State Taxation.

The provider of trauma counsellors for sexual assault and domestic violence hotline 1800RESPECT has dropped a contract with the service due to concerns over a new operating model.RDVSA announced it would not be accepting a new contact offered by Medibank Health Solutions (MHS) this month over concerns of new requirements.

9 million on the back of growth in admissions and procedural volumes across the company's Australian business.The country's largest private hospital operator said revenue from services for the year to June 30 grew marginally, up 0.

Weak consumer spending and an outmoded bikini range in Australia has weighed on surfwear retailer and wholesaler Billabong's annual earnings, the group's chief executive Neil Fiske says.The group's $51.

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.
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