CBA posts sturdy end result in opposition to backdrop of rising family prices
Jonathan Barrett
Commonwealth Financial institution has recorded a $9.8bn full yr money revenue, a modest decline from final yr’s document, in a sturdy end result generated in opposition to a backdrop of rising family prices.
CBA chief govt Matt Comyn mentioned that whereas many Australians had been challenged by price of residing pressures and had been experiencing falling ranges of disposable revenue, the financial system remained resilient.
Increased rates of interest are slowing the financial system and regularly moderating inflation,” Comyn mentioned.
Australia stays effectively positioned however draw back dangers proceed round productiveness, housing affordability, in addition to ongoing world uncertainty.”
Australia’s largest financial institution, which generates the majority of its income from mortgage and enterprise lending, has recorded elevated numbers of consumers falling behind on repayments.
The 90-plus day “past due” arrears for house loans jumped 18 foundation factors through the yr, based on the outcomes launched this morning.
Client arrears additionally jumped in a mirrored image of the “impact of higher interest rates and cost of living pressures on some borrowers”.
The financial institution declared a ultimate dividend of $2.50 per share, up from $2.40 a yr in the past.
Key occasions
It appears Qantas has been forgiven – at the very least by the prime minister. Anthony Albanese gave the airline a particular shout out in his speech welcoming house Australia’s olympians:
I do need to take a second as effectively to thank [CEO] Vanessa [Hudson] and Qantas for as soon as once more reminding us of why each critical nation on this planet understands the significance of getting a nationwide airline.
And bringing Australian house and as soon as once more, taking care of Australians as you all the time do.
CBA posts sturdy end result in opposition to backdrop of rising family prices
Jonathan Barrett
Commonwealth Financial institution has recorded a $9.8bn full yr money revenue, a modest decline from final yr’s document, in a sturdy end result generated in opposition to a backdrop of rising family prices.
CBA chief govt Matt Comyn mentioned that whereas many Australians had been challenged by price of residing pressures and had been experiencing falling ranges of disposable revenue, the financial system remained resilient.
Increased rates of interest are slowing the financial system and regularly moderating inflation,” Comyn mentioned.
Australia stays effectively positioned however draw back dangers proceed round productiveness, housing affordability, in addition to ongoing world uncertainty.”
Australia’s largest financial institution, which generates the majority of its income from mortgage and enterprise lending, has recorded elevated numbers of consumers falling behind on repayments.
The 90-plus day “past due” arrears for house loans jumped 18 foundation factors through the yr, based on the outcomes launched this morning.
Client arrears additionally jumped in a mirrored image of the “impact of higher interest rates and cost of living pressures on some borrowers”.
The financial institution declared a ultimate dividend of $2.50 per share, up from $2.40 a yr in the past.
The Governor-general Sam Mostyn has opened the official welcoming again celebrations for Australia’s olympic athletes and their groups with a speech:
Welcome house. These two phrases are going to be doing a little very heavy lifting as we speak as a result of my emotion and the sensation of all Australians is simply so heartfelt.
We actually do welcome you house with delight, with pleasure, admiration, respect and love.
As athletes, you set excellence in movement and you allow us breathless. As rivals, you encourage future generations to dream of Brisbane 2032 and past.
As Group-mates you present the facility of belonging to convey out the perfect in all of us.
And as Australians, you took Paris by storm and gave the world a lesson in Australian grit, dedication and success. Large congratulations! We’re simply so, so happy with each one in all you.
The federal government has been pushing again in opposition to the Coalition’s assaults over the issuing of visas to Palestinians.
In his interview with ABC radio RN Breakfast, Invoice Shorten repeated the road the federal government has been utilizing – that it has used precisely the identical course of as the previous authorities in granting visas.
Memo to Peter Dutton, we’re utilizing the identical course of that he used.
So if he thinks our present course of isn’t any good, then what’s he saying about on a regular basis when he was in cost?
There are about 1,500 Palestinians on short-term visas in Australia, who’re dealing with the tip of their visa. The federal government has acknowledged it must create a repair.
Shorten additionally acknowledged that time this morning:
Their short-term visas are coming to an finish sadly [but] the warfare in Gaza isn’t, so I don’t understand how humane it’s to ship folks we’ve accepted again.
Palestinians from Gaza shouldn’t be allowed into Australia ‘at all’, Dutton says
Peter Dutton, who can also be in Sydney welcoming house Australia’s Olympians, has additionally been on a little bit of a media blitz this morning.
The Coalition have began the parliamentary week pushing again in opposition to Palestinians from Gaza being given Australian visas.
On Sunday the Asio boss, Mike Burgess, instructed the ABC’s Insiders that safety companies carried out all the mandatory checks forward of anybody being granted a visa for Australia.
Burgess was requested if somebody expressing assist for Hamas can be precluded from a visa, and Burgess mentioned that if it was not ideological, if it was not giving cash or assist, then a rhetorical assertion wouldn’t essentially imply somebody wouldn’t be given a visa.
If it’s simply rhetorical assist, they usually don’t have an ideology or assist for a violent extremism ideology, then that’s not an issue.
If they’ve a assist for that ideology, then that shall be an issue.
The Coalition have used these feedback to launch a brand new assault line, which Dutton continued in an interview with Sky Information this morning.
I don’t suppose folks ought to be coming in from that warfare zone in any respect in the intervening time. It’s not prudent to take action and I feel it places our nationwide safety in danger.
In the meantime, Invoice Shorten has continued to stay his greatest media life, persevering with to be the defender of free-to-air media whereas the playing advert ban debate rages on.
Shorten spoke to ABC radio RN Breakfast arguing for the necessity for stability between addressing the hurt playing adverts could cause and the necessity for a robust free-to-air business media.
Shorten mentioned anti-gambling “zealots” wanted to take a look at the larger image.
If you’d like extra misinformation, then let’s kill off regional media. Let’s kill off free-to-air.
Clare O’Neil spoke to Dawn a little bit earlier concerning the Naplan outcomes and he or she additionally mentioned she was “worried” about them. She mentioned it was all the way down to the states to come back on board the brand new settlement, however there was not going to be a “blank cheque”.
We do want this to see the states step up and say what goes on in these lecture rooms is de facto necessary in addition to the {dollars} and we do have to see some modifications there if we’re going to see these outcomes shift,” she mentioned.
Naplan reforms and new funding settlement will higher determine college students falling behind, minister says
Jason Clare mentioned the modifications to Naplan made within the final yr can higher assist determine which college students are falling behind. He says the federal authorities’s Higher and Fairer Faculties Settlement is the subsequent step.
The Northern Territory has signed on, and WA is anticipated to be subsequent. The opposite jurisdictions will make up their minds subsequent month.
The ten-year settlement ties new funding to reforms to assist raise pupil outcomes, units targets and improves faculty funding transparency, together with:
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12 months 1 phonics examine and early years of education numeracy examine to determine college students who want further assist.
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Proof-based educating and focused and intensive helps akin to small-group or catch-up tutoring to assist college students who fall behind.
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Better wellbeing assist for studying and engagement, together with by full-service colleges, counsellors, wellbeing coordinators and psychological well being staff.
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Rising the proportion of scholars leaving faculty with a 12 months 12 certificates to 83.8% (by 2030), from 76.3% in 2022.
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Lowering the proportion of scholars within the “needs additional support” class for studying and numeracy by 10 per cent and rising the proportion of scholars within the “strong” and “exceeding” proficiency ranges for studying and numeracy by 2030.
Naplan outcomes present ‘serious reform is needed’, training minister says
The Naplan (which stands for the Nationwide Evaluation Program – Literacy and Numeracy) outcomes are out, and the training minister, Jason Clare, isn’t mincing phrases:
The newest Naplan outcomes present that critical reform is required to construct a greater and fairer faculty training system.
Clare mentioned this yr’s Naplan outcomes “show nearly one in 10 school students need additional support to meet minimum standards in literacy and numeracy” and “almost one in three students from poor backgrounds need additional support”.
An extra break down of the outcomes present one in three Indigenous college students, one in 4 college students residing in distant places and one in two college students in very distant areas want further assist.
Clare mentioned:
This reveals that the training of your dad and mom, the place you reside, and your background has an enormous affect in your chance to begin behind or fall behind in school.
Good morning
Are you able to imagine it’s only Wednesday? It’s just like the five-week break by no means occurred.
The prime minister is kicking off the day in Sydney the place he’s welcoming house Australia’s Olympic group. He’s additionally booked in for an entire heap of interviews throughout the breakfast TV applications, so he’s eager to share the love.
Nothing will get politicians extra excited than standing among the many glory of winners, so brace your self for that.
However possibly it would assist take the sting out of the remainder of the day and make what’s coming for the federal government a little bit simpler.
The playing advert laws remains to be dominating the agenda, with the federal government nonetheless leaning in opposition to a complete ban as advisable by the Murphy evaluate. Industrial TV networks have been making their case, arguing the loss in playing advert income will affect their potential to provide native content material. Invoice Shorten helped kick that argument alongside on Monday, which has solely fired up the crossbench.
Then there may be housing, with Clare O’Neil caught in the identical state of affairs as her predecessor, Julie Collins. O’Neil is perhaps saying all the correct issues – acknowledging there’s a housing disaster, that it’s robust for renters and that the federal government desires to see extra folks be capable to enter the housing market, however the coverage hasn’t modified.
That’s a problem for the Greens, who’re within the driver’s seat for negotiations, given the Coalition is complaining rather a lot, however not truly coming to the negotiating desk.
The Greens, crossbench and stakeholders are additionally not impressed with the federal government for dumping the spiritual discrimination/freedoms dedication – the federal government says with out the Coalition’s assist, it would solely descend into one other tradition warfare. It’s clear that after the voice referendum, it’s not prepared to go down that path. It’s the identical story for the opposite components of the Uluru assertion from the center, fact telling and treaty.
The Coalition have been pushing the federal government on whether or not it made a dedication to progress makarrata, however Albanese has been pushing again, arguing it was the Coalition’s behaviour through the voice referendum which has made progressing fact and treaty troublesome.
Outdoors of the parliament, Linda Reynolds’ defamation case in opposition to her former staffer Brittany Higgins continues.
We are going to convey you all of the updates – you’ve Karen Middleton, Paul Karp, Sarah Basford Canales and Daniel Hurst in Canberra, in addition to Mike Bowers bringing the parliament to you. You have got me, Amy Remeikis, with you for many of the day.
Deliver on espresso quantity three, and let’s get into it.