NAB has broken ranks from the big four Australian banks, becoming the first to hike fixed rates after the Reserve Bank's interest rate decision this month.

The bank today raised its short-term fixed rate for loans by 0.15 percentage points.

Its lowest fixed-rate option is now well above six per cent, sitting at 6.49 per cent for a five-year term – and the surprise move could spell doom for borrowers hoping for some relief.

NATIONAL: Officeworks to offshore jobs to India and Philippines in $15m restructure

READ MORE: Rents to jump 350 per cent under budget measures, modelling shows

READ MORE: Millions in one state to suddenly pay for trains, buses and trams again

NAB's unwelcome move follows the RBA's third consecutive rate hike on May 5.

The RBA increased the cash rate up to 4.35 per cent, resulting in an extra $227 to $453 added to the average monthly mortgage repayments.

Canstar data insights director Sally Tindall said NAB's decision shows the rate-hiking cycle among Australian lenders has a long tail.

"Fixed rates are often a window into what banks think is coming next," Tindall said.

"NAB's decision to lift its short-term fixed rates suggests it's not ready to rule out further rate rises, even though the RBA will almost certainly hit pause next month."

Mortgage holders should brace for a tough second half of the year.

Tindall said borrowers are unlikely to be dealt a lucky hand for some time.

"The reality is, rates are likely to remain high for the foreseeable future and could well get one or two notches tighter," she added.

The RBA will meet again next month on June 15 and 16.

Westpac is leading the four major banks with the lowest fixed rate loan on offer, with a 6.29 per cent rate for a two-year term, according to data from Canstar.

The lowest rate outside of the big lenders still remains a touch below six per cent.

Norther Inland, Pacific Mortgage Group and Transport Mutual are offering a one-year fixed term loan at 5.99 per cent – the only three lenders with a fixed rate below six.

At the start of 2026, there were 83 lenders offering at least one fixed rate hike under six per cent.

However, the rate of home loans have not slowed despite the fresh boost of buyer anxiety hitting the property market.

Total residential home loans hit a record high of $2.48 trillion in the month of April.

Figures from the Australian Prudential Regulation Authority (APRA) show housing loans among deposit-taking institutions (ADIs) increased by $14.3 billion last month, an increase of 0.6 per cent on the month prior.

The free ride is about to end for seven million Victorians.

Commuters on trains, trams and buses in the state will start paying for public transport again after two months of fare-free travel.

Today is the final weekday that travellers can breeze through the gates without paying a cent.

NATIONAL: Officeworks to offshore jobs to India and Philippines in $15m restructure

READ MORE: Rents to jump 350 per cent under budget measures, modelling shows

From Monday, June 1, Victorians will need to tap on with their MyKi.

Fares won't be returning to full price, though – the state government is slashing the fare of a one-way trip by 50 per cent until the end of 2026.

This means a full daily fare will cost the average commuter $5.70, or $34.20 per week if you take a return trip every day of the working week.

From June 1 until December 31, this could cost around $1026.

The Victorian government said half-price fares will save the average commuter $850.

It introduced the temporary measure as a response to the fuel crisis triggered by ongoing tension in the Middle East.

Premier Jacinta Allan said at the time that free public transport would keep a lid on fuel demand and ease the traffic pressure on the roads.

The scheme is expected to cost the government $432 million in lost revenue.

READ MORE: Spy boss warns MPs about talking in cars

Victoria will also relaunch its contactless payment trial across the network from Monday.

Victoria and Tasmania led the charge with free or subsidised public transport after the US-Iran conflict led to a blockade of the Strait of Hormuz, a critical waterway for the global supply of crude oil.

NSW was urged to follow suit, however Premier Chris Minns held firm and refused to offer a fare-free period.

Minns said at the time he wanted to avoid an "expensive" knee-jerk reaction to the ongoing conflict.

South Australia also ruled out free public transport in March.

More than two million middle-aged men in Australia are drinking alcohol at risky levels, a first-of-its-kind study has found.

The national in-depth study from Flinders University analysed national data from the 2019 and 2022-23 National Drug Strategy Household Survey to see what was driving Aussie men to drink.

Almost half (43 per cent) of men aged 30 to 59 exceeded Australia's national alcohol guidelines, which recommend no more than 10 standard drinks a week, and no more than four on any one day.

LIVE UPDATES: Billionaire's rocket explodes on launchpad

Lead author and Flinders University PhD candidate, Stefano Zaccagnini, says the study found risky drinking was more common among men who smoke, use illicit drugs, experience high psychological distress, live in regional areas, or earn higher household incomes.

Men working in managerial, trade and technical occupations were also more likely to drink above recommended limits.

"Our findings show that more than 2.2 million Australian men aged 30 to 59 are drinking in excess of the national alcohol guidelines," Zaccagnini said.

POLITICS LIVE: Opposition leader doubles down on calling Prime Minister 'arrogant prick'

"Men drink alcohol for many reasons and across different social and cultural settings, and at consistently higher rates than women, which makes this an important group to study.

"Midlife is also a period when drinking can shift from occasional to routine – for example as a regular way to unwind – and that can heighten the risk of both short-term and long-term alcohol-related harms such as accidents, injuries, assaults, and chronic illnesses including dependence, liver disease and cancer."

The findings also highlight important differences within the midlife category.

READ MORE: End in sight for rain, storms hammering east coast

Men aged 30 to 44 who reported high psychological distress, were significantly more likely to drink at risky levels compared to those with lower psychological distress.

In contrast, psychological distress was not strongly linked to risky drinking among men aged 45 to 59.

"This research suggests that stress and mental health may influence drinking differently at various stages of midlife," Zaccagnini said.

Senior researcher and Director of Flinders' National Centre for Education and Training on Addiction (NCETA), Professor Jacqueline Bowden, said the findings challenge common assumptions about who is most at risk of alcohol-related harms.

"There's a perception that risky drinking is mainly a problem for younger people, but this research shows it remains very common among men in midlife," she said.

"Whilst risky drinking among Australian men has declined overall in recent decades, progress has been slower among men in midlife, a group often missed by prevention efforts that tend to focus more on younger people. For many middle-aged men, alcohol is closely tied to work culture, social life and managing stress during these years."

Alcohol and Drug Foundation chief executive Dr Erin Lalor AM said this research reiterated the need for stronger investments in tailored approaches aimed at reducing alcohol-related harms.

"We know that a 'one size fits all' approach doesn't work when it comes to addressing the complex drivers of risky drinking. We need stronger investments by governments to help roll out targeted, evidence-based campaigns and programs," she said.

The National Alcohol and Other Drug hotline (1800 250 015) provides free and confidential advice about alcohol and other drugs, including available treatment options, and automatically directs the caller to the Alcohol and Drug Information Service in their state/territory.

The chief executive of KPMG Australia has resigned after an investigation into the accounting giant's handling of a whistleblower's allegations.

KPMG chair Martin Sheppard has accepted the resignation of chief executive Andrew Yates effective immediately, the firm announced in a release today.

KPMG's national managing partner audit and assurange Julian McPherson will also stand down from his role effective immediately and will resign after transitioning his client responsibilities.

LIVE UPDATES: Opposition leader doubles down on calling Prime Minister 'arrogant prick'

The shake-up comes after legal firm Allens was appointed by the company to investigate its prior internal and external investigations, and found that they had fallen short of the rigour required to investigate a whistleblower's claim that client documents were being inappropriately shared internally.

"I have been committed to a speak-up culture in our firm, it is clear that in this case we have let ourselves down and I take accountability," Yates said.

Stan Stavros has been appointed interim chief executive.

KPMG is one of the "big four" global accounting firms, alongside Ernst&Young, Deloitte, and PwC.

"We apologise unreservedly to the whistleblower. We commit to learning from this process to ensure we create an environment where it is safe and easy to surface concerns that will be acted upon," Sheppard said.

"KPMG apologises to the clients whose information was not handled with the care and respect they expect from us. We also apologise to our people – as these matters do not reflect on the contribution they make to KPMG and our clients."

LIVE UPDATES: 'Pray for President Trump': Support for absent commander-in-chief

READ MORE: Officeworks to offshore hundreds of jobs to India, Philippines

Sheppard said Allens would continue to investigate the whistleblower's allegations, while KPMG has also engaged leading ethical organisational culture specialist Principia Advisory for a separate review into the firm's policies and processes to support people to speak up.

"KPMG is committed to transparency and will publish the findings of the Principia review. We will move swiftly to act upon their recommendations," Sheppard said.

"We are reinforcing and strengthening the controls that protect client confidentiality, and we will set out for our clients the specific steps we are taking to keep their information protected. For each of our audit clients we will confirm that any conduct matters do not impact the quality of their audits."

Sheppard said he knew KPMG would have to work on rebuilding trust.

"That's why we are not asking anyone to take our word for it, and we are inviting scrutiny and challenge on our remedial actions," he said.

The whistleblower's initial allegations about the inappropriate internal sharing of client information were not substantiated by an initial internal investigation or an external legal review of that investigation.

However, KPMG acknowledged that the initial investigation "was not conducted with the necessary rigour".

The whistleblower then approached several KPMG Australia board members, and "others", which prompted the Allens review.

An elderly New Zealand man with advanced dementia was subjected to what his son later admitted was "torture" inside a locked, blacked-out room while family members systematically stole his life savings.

Norman Lee, a 90-year-old retired mechanical engineer, died at Christchurch Hospital on July 9, 2020, following a regular pattern of severe elder neglect and financial abuse at his Christchurch home.

A newly-released coroner's report has detailed the horrific living conditions uncovered by police during a search warrant on June 23, 2020.

READ MORE: US election quickly turns nasty as White House weighs in

Officers found Lee locked inside a permanently darkened bedroom from the outside by a deadbolt. A large black sheet was secured over the window, which was taped shut, leaving the room damp, cold, and completely without ventilation.

The light switches were taped into the off position, and Lee was found in the darkness wearing a wetsuit over an adult diaper. The zip-cord of the wetsuit had been removed so he could not take it off himself.

CCTV cameras installed in the room showed that Lee was regularly locked inside for up to 16 hours at a time, frequently from 5pm until 9am or 10am the following morning. Lee, who was incontinent, was filmed knocking on the door and calling out for help for up to an hour, but his cries were ignored by the occupants of the house.

In 2022, his son, David Lee, and his partner, identified only as "C", were convicted of multiple offences, including failing to provide the necessities of life and keeping a vulnerable adult in unhealthy conditions. David Lee was also convicted of assault, forgery, and 32 counts of theft, after stealing $216,000 from his parents.

A sentencing judge found that David Lee's "sole motivation" was to keep his father at home to maintain "uninterrupted access to significant sums of money," which was spent on holidays, new vehicles, and home entertainment systems.

David Lee received a sentence of six years' imprisonment, while C was sentenced to 22 months' imprisonment following an appeal. In June 2024, David Lee conceded to the Parole Board that "torture" was an appropriate description of his father's treatment. 

Investigations by Health New Zealand and the Health and Disability Commissioner (HDC) revealed that a senior social worker, M, visited the home on June 19, 2020, and was shown the cameras and the wetsuit method.

M documented that she felt the couple "had the best intentions to keep Norm safe" and subsequently leaked a confidential plan by Lee's daughter to safely remove her father from the house.

READ MORE: WHO boss's plea to locals, rebels over Ebola outbreak

The HDC concluded M made a "serious error of judgement" that jeopardised the safety plan. M's employment subsequently ended and she has retired.

The HDC was also highly critical of four daily home carers from HealthCare NZ who entered the house but failed to escalate red flags, including the padlock on the door, the wetsuit, and the CCTV cameras. Both health organisations have since implemented systemic updates and safety frameworks.

A forensic pathologist noted that Lee's death was caused by pneumonia and severe cardiovascular disease. While a definitive link could not be drawn, the pathologist stated the neglect and living environment almost certainly increased his frailty, exacerbated his dementia, and elevated his risk of developing pneumonia.

Coroner M Borrowdale ruled that the inquiry would not be resumed, satisfying that the prior criminal and agency investigations had sufficiently established the circumstances of the tragedy.

READ MORE: US government pushes to put Donald Trump's face on new $250 bill

This article has been reproduced with permission from Stuff.co.nz.

A series of musicians announced for a concert organised by the Trump administration have pulled out a day after the line-up was revealed.

The Freedom 250 show at Washington's National Mall was set to host a long list of bands and singers as part of the Great American State Fair.

But already several have pulled out of the event.

READ MORE: US government pushes to put Donald Trump's face on new $250 bill

Young MC, best known for his 1989 hit Bust A Move, decried the concert.

"The artists were never told about any political involvement with the event," he said.

"I hope to perform in DC in the near future at an event that is not so politically charged."

Motown group The Commodores have also backed out.

"Our music has always been our voice and we choose not to publicly affiliate with any single political party. We support the betterment of all Americans," the group said.

Funk singer Morris Day denied he was ever booked for the gig.

"Contrary to rumour, Morris Day and The Time will not be performing at the 'Great American State Fair'," he said on Instagram.

"It's a no from me."

Country singer Martina McBride also pulled out.

There is also confusion about the inclusion of Milli Vanilli on the line-up. The Grammy-winning duo were revealed as a musical hoax in 1990, lip-syncing songs performed by other people.

READ MORE: 'You ugly f—': US election quickly turns nasty as White House weighs in

The actual singers have distanced themselves from the concert, claiming they were not invited. The only remaining member of the hoax duo may still perform, but it is not known if he will be singing.

But rapper Freedom Williams of C+C Music Factory gave a profane and bizarre defence of his booking.

In a seven-minute video delivered while sitting on the toilet, Williams explained his position.

"I will vote for fucking f—ing Genghis Khan, Hitler, and motherf—ing Ivan the Terrible before I let you n—s tell me what to motherf—king do," he said.

"You know who 90 per cent of the people was at our shows? White people. You know who 70 per cent of those white people probably voted for? Republicans. So you n—s don't fucking count."

His diatribe took aim at Barack Obama, Bill Clinton and the COVID vaccine.

He also spoke in favour of late Libyan dictator Muammar Gaddafi, Donald Trump and Vanilla Ice.

Vanilla Ice has confirmed he will be performing at the gig.

Also on the line-up are Flo Rida and Bret Michaels.

READ MORE: Trump's Justice Department investigating his rape accuser

NEVER MISS A STORY: Get your breaking news and exclusive stories first by following us across all platforms.

• Download the 9NEWS App here via Apple and Google Play
• Make 9News your preferred source on Google by ticking this box here
• Sign up to our breaking newsletter here



Officeworks will offshore hundreds of local jobs to India and the Philippines as part of the retailer's $15 million cost-saving restructure, which had been previously flagged after the brand's sluggish half-yearly results.

Parent company Wesfarmers informed dozens of staff at its call centre in Western Sydney this week that their roles were now redundant and announced the team would be replaced with a centre in Manila.

Other office roles based in Sydney and Melbourne will also be moved to Bengaluru in southern India later this year.

READ MORE: Spy boss warns MPs about talking in cars

READ MORE: Rents to jump 350 per cent under budget measures, modelling shows

A spokesperson for Officeworks confirmed it had made a "difficult" decision that forms part of a "significant business transformation program, so we can continue to offer customers low prices".

"With rising costs, increasing competition and rapidly changing customer expectations, this transformation is critical to strengthening our growth, resilience and competitiveness in a fast-evolving retail landscape," the spokesperson told nine.com.au.

"As part of this program, some activities currently performed in our Australian support office will transition to a new global centre in Bengaluru to support our stores and support offices."

"This is difficult for affected team members, who will be supported with redundancy entitlements alongside redeployment opportunities and outplacement support where possible."

Officeworks employs over 9000 people in Australia and operates 175 stores.

The retailer delivered underwhelming half-year earnings in February, with a 21.8 per cent drop compared to the corresponding period, which Wesfarmers said was due to the one-off $15 million transition to a "low-cost operating model".

READ MORE: Rents to jump 350 per cent under budget measures, modelling shows

"Officeworks commenced a significant transformation program during the half, with the business transitioning to a low-cost operating model to support low prices for customers and drive sustainable earnings growth," Wesfarmers said in February.

"The earnings result includes $15 million in costs associated with Officeworks' transformation program.

"These costs largely reflect the impact of restructuring activities and ERP-related costs, which are important initiatives for Officeworks' transition to a low-cost operating model."

Wesfarmers' high-performing flagship brands Kmart and Bunnings, meanwhile, helped buoy the company's overall revenue by 3.1 per cent to $24.212 million.

Artificial intelligence (AI) is understood to be a key factor in the decision to restructure Officeworks and offshore some of its departments.

Wesfarmers said it had accelerated its adoption of AI during the most recently reported earnings period.

Automation will help support team member productivity, driven contact centre efficiency and "enhanced customer experience," the retail giant said.

The US government is working on a $250 note to bear the face of Donald Trump, his treasury secretary has announced.

The draft revealed by Secretary Scott Bessent features Trump's face taken from the mugshot from his arrest in Georgia in 2023.

The bill will also include his signature, a departure from previous US currency.

READ MORE: US election quickly turns nasty as White House weighs in

"I don't think there's anything untoward about having the president of the United States on the 250th anniversary bill," Bessent said.

But he did concede that the law would need to change to allow Trump's face on money.

Under a law passed in 1866, living people cannot appear on US currency.

But legislation introduced by Congressman Joe Wilson, a conservative Republican, would change that.

"Grateful to commemorate President Trump's legacy of greatness and the 250 anniversary of America," Wilson said.

"The most valuable President on our most valuable bill."

While the president has frequently minted commemorative coins bearing his face, this note is intended to be legal tender widely used across the country.

The plan was strongly criticised by Democratic Congressman Emanuel Cleaver.

"While Americans are struggling to put food on the table, keep up with rising energy costs, and pay for health care, the administration is focused on illegally putting the president's face on money," Cleaver said.

READ MORE: 'Oh, my God, he's having a stroke': Jill Biden reveals debate fears

"As the president made very clear: 'I don't think about Americans' financial situation'."

Congresswoman Judy Chu noted that inflation was at a three-year high.

"And what are Trump's priorities? Slapping his face on a $250 bill, just to boost his own ego," she said.

"Every day he makes it more clear that he doesn't care about the American people, only himself."

The move to put Trump's face on money comes as the president's approval rating continues to sink.

A poll released fby YouGov this week shows him with just a 34 per cent approval rating, with 59 per cent disapproving.

Trump has previously intervened to stop a 2016 plan from the Obama administration to replace President Andrew Jackson on the $20 note with abolitionist Harriet Tubman.

He decried the plan to replace the now-maligned former president with Tubman as "pure political correctness".

READ MORE: Trump's Justice Department investigating his rape accuser

NEVER MISS A STORY: Get your breaking news and exclusive stories first by following us across all platforms.

• Download the 9NEWS App here via Apple and Google Play
• Make 9News your preferred source on Google by ticking this box here
• Sign up to our breaking newsletter here



South Australian police have said no evidence to suggest that Gus Lamont was abducted has been found following a renewed search around the property where the four-year-old disappeared eight months ago.

Providing an update to the media this afternoon at Oak Park Station, Major Crime Investigation Branch's Detective Superintendent Darren Fielke said no new evidence was found during the three-day search, one grandparent remains a suspect in the boy's disappearance.

"At this time, no other suspects or persons of interest have been identified," he said.

READ MORE: ISIS bride charged with terrorism offences after arriving in Australia

He admitted the absence of fresh evidence uncovered by the recent search was disheartening.

"We haven't given up. It is disappointing that we haven't found anything," he said.

"It's not the city, we don't have CCTV and people walking past.

"The reality is, the longer this goes on, the closer we get to not finding him. 

"I don't want to give anybody the impression that we're hopeful after eight months that we'll find Gus alive, but we are hopeful we'll be able to recover Gus at some point."

In February, Gus' grandparents, Josie and Shannon Murray, released a statement through their lawyers, saying they were "absolutely devastated" by SA Police's revelation earlier that month that a person with close ties to the household, who is not one of Gus' parents, had been speaking with detectives but then allegedly "withdrew cooperation".

"We are absolutely devastated by the media release of SAPOL Major Crime. The family has cooperated fully with the investigation and want nothing more than to find Gus and reunite him with his mum and dad," the statement read.

The lawyers also indicated they will not be making any further comments.

There is no suggestion Josie or Shannon Murray are involved in the disappearance of Gus and it is not unusual for anyone linked to an investigation to seek out legal advice.

Fielke said police have been working on getting in contact with more than 500 people, mostly workers and neighbours, who were identified as being around Oak Park Station around the time of Gus' disappearance. 

"We are working through the list … but all of the people we have contacted so far have been discounted in any way as being involved in Gus' disappearance," he said.

"There's not many people left on that list, and we'll continue to work through that. 

"At this point, there is no evidence to suggest that Gus has been abducted."

Fielke said that Task Force Horizon members are in contact with Gus' parents, who are regularly updated. They are not suspected of any wrongdoing over their son's disappearance.

Over the last eight months, Fielke said police have received more than 830 separate pieces of information, 527 Crimestoppers calls, more than 200 calls to police, and more than 120 letters and emails to Taskforce Force Horizon.

"It is all being followed up, it is all being investigated," he said.

Fielke said most of the recent search focused on waterways, washouts, and creekbeds impacted by recent flooding near Oak Park Station. 

"All of these members have walked, searched, in excess of 30km of waterways over the last three days," he said.

"Unfortunately, we have not uncovered any other evidence that helps us locate Gus." 

He said that a vehicle, motorcycle and electronics seized by police following a search warrant in mid-January provided no evidence after "thorough forensic testing".

Fielke said the next steps in the eight-month investigation include using planes and drones 15 kilometres out from the homestead where Gus disappeared. 

9News understands police were hoping the recent rain may have uncovered evidence, including clothing Gus was wearing at the time of his disappearance eight months ago, such as a large-brimmed hat and a Minions shirt.

Police focused on sites that were inaccessible during their previous visit to the property in March, when flooding was taking place.

Gus was last seen playing on a dirt mound at Oak Park Station around 5pm on September 27, 2025.

He has not been seen since and his disappearance is being treated as a major crime.

Ganesh Raj spent 36 hours with firefighters and was appalled by what he learned.