AGP Executive Report
Last update: 11 hours agoInterest Rates: The RBA lifted the cash rate by 0.25 percentage points to 4.85%, its highest level since 2008, as inflation stayed stubborn. The split decision and signals of a possible pause offered little comfort to borrowers, while economists warned of a deeper slowdown. Budget Outlook: Anthony Albanese says the rate rise strengthens the case for savings in next month’s budget update, putting government spending under sharper scrutiny. Energy Investment: Abu Dhabi’s XRG will buy Shell’s stake in Australia’s North West Shelf LNG project for US$1.45 billion, reshaping ownership of a major gas asset. Technology Jobs: Canva plans a major restructure affecting up to 1,271 staff—22% of its workforce—as the Sydney-based company responds to slower growth and rising competition from AI.
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