Tag Archives: oceania

Big four making bank off Aussie dream of home ownership

As mortgage-holders struggle to adjust to a third straight interest rate rise, new research reveals how much the banks make from customers chasing the Australian dream.

The Australia Institute says the big four banks – CBA, NAB, Westpac, and ANZ – rake in an average of $228,900 in profit over the 30-year span of an average $736,000 home loan.

Last year, those banks' profits rose to a collective $43 billion pre-tax, $16.9 billion of which was paid by owner-occupiers with a mortgage.

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A composite image of signage of Australia's 'big four' banks ANZ, Westpac, the Commonwealth Bank (CBA) and the National Australia Bank (NAB) signage in Sydney, Saturday, May 5, 2018.

The Institute found that mortgages for owner-occupiers made up 22.7 per cent of the big four banks' loans, they provided a "disproportionate" 39.3 per cent of their profits.

The banks also joined mining giants Rio Tinto and BHP as the top six most profitable companies in Australia.

Australia Institute co-chief executive Dr Richard Denniss said the figures were "obscene".

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"While so many Australians are going backwards, the banks' profits are only going in one direction – up," he said.

"In the first year of their mortgage, Australian homeowners are contributing more than $900 a month to their bank's profit."

The Institute also criticised the Reserve Bank's decision to lift interest rates to 4.35 per cent at Tuesday's board meeting.

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The increase saw interest rates hit their highest level in 15 years.

Senior economist Matt Grudnoff said the decision risked pushing the country into recession, and that increasing interest rates would not reopen the Strait of Hormuz.

"All this does is heap more pain on already stretched households," he said.

"The only tool the RBA has to fight inflation is to change interest rates. But interest rates are ineffective at stopping inflation caused by supply shocks."

If Australia is nudged into recession, Grudnoff said, the RBA would be forced to rapidly lower interest rates again in an effort to stimulate the economy, which would be a "humiliating backflip".

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Woman fighting for life after Melbourne e-scooter hit and run

Police are searching for the driver involved in an alleged hit and run that has left a woman fighting for life in Melbourne.

It is believed a woman in her 40s was riding an e-scooter on Swan Street near the intersection of Scott Street in Melton in Melbourne's west when she was hit by a small white sedan at about 12.20 this morning.

The car failed to stop and was last seen driving away from the scene heading east along Swan Street.

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Broken shards of glass and items of clothing were left on the street.The car involved and the driver have not been found.

READ MORE: SWAT team storms German bank after two taken hostage in locked vault

Items of clothing and shards of broken glass were seen at the site of the accident.

The woman was taken to hospital with life-threatening injuries.

Police are urging anyone who witnessed the collision or anyone with footage or further information to contact Crime Stoppers.

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SWAT team storms German bank after two taken hostage in locked vault

A SWAT team has descended on a small town in Germany after two people were taken hostage inside a bank.

Police said they were alerted to the situation at the Volksbank branch in Sinzig, in the Rhine valley near Koblenz, about 9am.

The small town of about 17,000 people was thrust into lockdown as special operative police tried to figure out how many hostages were being held.

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German bank heistGerman bank heist

Shortly before 3pm, seven members of the SWAT team stormed the bank, where they freed two uninjured hostages from a locked vault.

One of them was believed to be the driver of an armoured cash vehicle that had been ambushed.

"We are relieved that the hostages have been freed. They are deeply affected by what has happened," Koblenz Police spokesperson Juergen Fachinger said.

Police didn't find any hostage-takers in the bank, and believe the perpetrator or perpetrators left immediately after locking the people in the vault.

Police didn't indicate whether any cash or valuables were stolen.

The Volksbank branch is now a crime scene, as detectives investigate how the hostage takers escaped without notice.

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‘A bomb going off in Canberra’: What now for One Nation?

Farrer may be an electorate of only about 180,000 people, but One Nation's byelection victory in the conservative heartland is sending shockwaves across the country.

"Australia's changed, Australia's changed, Australia's changed," One Nation MP Barnaby Joyce told the ABC tonight from a celebration in the southern NSW seat.

"There'll be a bomb going off in Canberra right now."

READ MORE: One Nation claims victory in Farrer byelection

One Nation's David Farley was leading the two candidate-preferred count over popular independent Michelle Milthorpe by about 60 per cent to 40 per cent. And whilst there was no Labor candidate and a potent protest vote against the Liberals, Farley said it was the beginning of a new era for One Nation.

"One Nation has reached the end of its beginning, we're going through the ceiling from here," he said.

Joyce, a one-time deputy prime minister as the former leader of the National Party, said his defection to Pauline Hanson's One Nation was "a journey that so many from the Nationals and Liberals and Labor had before me and will have after me".

His joining of One Nation is being seen as key for the party to reach more voters, and he said he expected the result in Farrer to be replicated in other parts of the country.

"The Australian people are not dumb," he told the ABC.

READ MORE: Barbecue left on blamed after fire guts Brisbane home

"What you saw tonight was not just a result for Farrer, it's a result for Australia … and what we see is the Australian people saying I'm over this, I'm going to change things around, completely change the batting order, and they did it tonight."

Joyce lashed his former Coalition colleague Angus Taylor, whose success in the Liberal Party leadership spill in February led to the Farrer byelection when his predecessor Sussan Ley quit politics.

The result for the Liberals tonight was catastrophic, attracting about 12 per cent of the vote in a seat that has only ever been held by the Liberal or National parties in its 77-year history.

Taylor blamed divisions within the Coalition as turning voters off.

"For too long we have been a party of convenience, not of conviction, and that must change," he said.

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"Over the last year or so the Coalition hasn't done what it should do: been united and stable and strong, with two breakups of the Coalition over that time.

"Those days are over."

Ley, who held the seat for 25 years, released a statement tonight as a warning to Taylor.

"I urge the Liberal leadership to accept this result with humility because the voters never get it wrong," she said.

"On the day the leadership spilled in February, the new leader said the Liberal Party needed to 'change or die'.

"Three months later, the result in Farrer demonstrates that statement to be far truer today than it ever was."

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Barbecue left on blamed after fire guts Brisbane home

A lunchtime barbecue has gone disastrously wrong for a Brisbane family with their two-storey house going up in flames this afternoon.

Queensland Fire and Rescue's John Longmire said it's believed the fire started from a barbecue that had been left on.

The home was gutted in the blaze that took hold in seconds in Sherwood in the city's south-west about 1.30pm.

READ MORE: Australia readies to repatriate citizens aboard virus-plagued cruise ship

The family that lives at the home were already outside when the fire broke out on the balcony.

The fire spread across both storeys of the house.

Neighbour Sophia David said they rushed outside.

"There was already people screaming 'fire, fire' and our neighbours said they heard a couple of explosions as well," she said.

"It was all unfolding very quickly."

The family that lives at the home were already outside when the fire broke out on the balcony.

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Firefighters had the blaze under control within an hour and also rescued a cat.

"The house is completely gutted," Longmire said.

Australia readies to repatriate citizens aboard virus-plagued cruise ship

Australian authorities are preparing to repatriate four citizens and one permanent resident from a hantavirus-afflicted cruise ship headed for the Spanish-controlled Canary Islands.

The Dutch-flagged vessel at the centre of the outbreak is set to dock on the island of Tenerife, off the coast of West Africa, about midday tomorrow local time (9pm AEST).

Once arrived, passengers will be taken to a "completely isolated, cordoned-off area", said the head of Spain's emergency services, Virginia Barcones.

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Health workers in protective gear evacuate patients from the MV Hondius cruise ship at a port in Praia, Cape Verde, Wednesday, May 6, 2026. (AP Photo/Misper Apawu)

Passengers cannot stay on the island or take commercial flights home, meaning nations are expected to help their citizens get home.

The Australian Centre for Disease Control is working closely with states and territories to advise on quarantine requirements, health monitoring and testing arrangements.

None of the Australian passengers have displayed any symptoms of the virus,  a Department of Foreign Affairs and Trade (DFAT) spokesperson said.

"DFAT consular officials are travelling to Tenerife to provide consular assistance to them and coordinate response efforts with local authorities and partner countries," the DFAT spokesperson said.

"We are considering options for the safe repatriation of the four Australians and permanent resident.

"Our priority is the safety of the community."

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Workers prepare the area where passengers from the MV Hondius cruise ship are expected to arrive at the port of Granadilla in Tenerife, Canary Islands, Spain, Friday, May 8, 2026. (AP Photo/Manu Fernandez)

Health officials in the Canary Islands will be tasked with carefully evacuating more than 140 passengers and crew members aboard a cruise ship

Both the US and the UK have agreed to send planes to evacuate their citizens from the cruise ship.

While three people have died since the outbreak, and five passengers who left the ship are known to be infected with hantavirus, cruise operator Oceanwide Expeditions said Thursday there were no people with symptoms of a possible infection on board the Dutch-flagged ship, the MV Hondius.

The World Health Organisation (WHO) considers the risk to the wider public from the outbreak as low.

Yesterday, the WHO said a flight attendant on a plane briefly boarded by an infected cruise passenger has tested negative for hantavirus.

Her possible infection had raised concerns about the virus's potential transmissibility.

The flight attendant's negative result should ease concerns among the public, said Christian Lindmeier, a WHO spokesman. "The risk remains absolutely low," he said.

"This is not a new COVID."

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Health workers in protective gear arrive to evacuate patients from the MV Hondius cruise ship at a port in Praia, Cape Verde, Wednesday, May 6, 2026. (AP Photo/Misper Apawu)

Hantavirus is usually spread by the inhalation of contaminated rodent droppings and is not easily transmitted between people.

But the Andes virus detected in the cruise ship outbreak may be able to spread between people in rare cases. Symptoms usually show between one and eight weeks after exposure.

Health authorities across four continents were continuing to track down and monitor more than two dozen passengers who disembarked the ship before the deadly outbreak was detected.

They were also scrambling to trace others who may have come into contact with them since then.

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Countries scramble to track passengers who disembarked

On April 24, nearly two weeks after the first passenger had died on board, more than two dozen people from at least 12 different countries left the ship without contact tracing, Dutch officials and the ship's operator said.

It wasn't until May 2 that health authorities first confirmed hantavirus in a ship passenger, the WHO said.

The KLM flight attendant who tested negative for the virus was working on a flight headed from Johannesburg to Amsterdam on April 25 and had later fallen ill.

She was taken to an isolation ward at an Amsterdam hospital on Thursday.

The cruise passenger, briefly aboard that flight, a Dutch woman whose husband died on the ship, was too ill to stay on the international flight to Europe and was taken off the plane in Johannesburg, where she died.

The Dutch public health service is currently undertaking contact tracing on passengers from the flight who had contact with the ill woman before she left the plane.

On Friday, UK health authorities said a third British national who had been a passenger on the ship is suspected of being infected with hantavirus.

The UK Health Security Agency said the person is on the island of Tristan da Cunha, a remote British overseas territory in the south Atlantic, where the ship stopped in April.

There was no word on the condition of the person.

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The MV Hondius cruise ship departs the port in Praia, Cape Verde, Wednesday, May 6, 2026. (AP Photo/Misper Apawu)

Spanish health officials said Friday a woman in the southeastern Spanish province of Alicante has symptoms consistent with a hantavirus infection and is being tested.

She was a passenger on the same flight as the Dutch woman who died in Johannesburg after travelling on the cruise ship and contracting the virus, Secretary of State for Health Javier Padilla told reporters.

Two other Britons who were on the ship have been confirmed to have the virus. One is hospitalised in the Netherlands and the other in South Africa.

Authorities in South Africa are working to trace contacts of any passengers who previously got off the ship.

They have focused mainly on an April 25 flight from the remote island of St. Helena in the South Atlantic to Johannesburg, the day after some passengers disembarked.

Spanish authorities detail disembarkation plans

Officials sought to reassure the public in the Canary Islands about possible exposure to the virus among the general population.

Spanish officials said that once the ship reaches Tenerife, passengers will be evacuated in small boats to buses only after their repatriation flights are ready to take them.

Passengers will be transported in isolated and guarded vehicles, officials said, adding that the parts of the airport they travel through will be cordoned off.

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Spain has requested medically equipped aircraft in case passengers report symptoms, Barcones said, in order to avoid any contact with the general population, but it wasn't known if those would be available.

The US agreed to send a plane to repatriate the 17 Americans on board the cruise ship.

Those passengers will be quarantined at the National Quarantine Unit at the University of Nebraska Medical Centre and Nebraska Medicine, the hospital said in a statement.

The dedicated biocontainment and quarantine unit in Omaha was previously used to treat Ebola patients and some of the first COVID-19 patients.

Nebraska Medicine is one of a handful of hospitals in the US with specialised treatment units for people with highly dangerous infectious diseases.

"We are prepared for situations exactly like this," Dr Michael Ash, Chief Executive of Nebraska Medicine, said in a statement.

The British government also said it will charter a plane to evacuate the nearly two dozen British nationals on board.

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Polling booths close in Farrer byelection

Tens of thousands of voters in south-western NSW have cast their ballots in the eagerly-anticipated Farrer byelection, where One Nation is vying to continue its conservative crusade and upend a historic Liberal heartland.

The final votes have been cast in the contest for former opposition leader Sussan Ley's seat, which is being widely watched as a temperature check of voter dissatisfaction with the major parties.

If successful, it would be the first time a One Nation candidate has been directly elected to the House of Representatives.

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Opposition Leader Angus Taylor exchanged casual smiles and cool handshakes with locals outside key voting booths this morning, despite pressures to retain his predecessor's seat, which Ley held for 25 years.

"[It's an] important day for Farrer. We're humbly asking the people of Farrer to vote for Raissa," Taylor said.

Raissa Butkowski, the Liberal candidate, stifled suggestions the party's success in the region had fallen to voter dissatisfaction.

"The Liberal Party is not only the hope of Farrer but for the rest of the country," she said.

The seat has only ever been held by the Liberals or Nationals since its inception, and Labor is not running a candidate in the byelection.

But Butkowski faces an uphill battle, with One Nation vying to shake up the conservative status quo.

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"You know the nation is looking for change and Farrer is screaming out for change," One Nation candidate David Farley said.

One Nation leader Pauline Hanson has had the seat in her sights as the first pawn in a national takeover of major party politics, following a rise in support in recent months.

"[I'm voting for] Farley for sure. Just sick of the garbage of the major parties," one votert said.

"I've voted mostly the Libs all my life, but, they are not connected at the moment," another voter told 9News.

But others felt the conservative party didn't represent the people of Farrer.

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"I'm really sad at the idea that a community that has such a strong sort of migrant, multicultural background could possibly vote in One Nation," one woman said.

"That makes me really sad."

Independent candidate Michelle Milthorpe is shaping up as the closest contender for One Nation, having finished second to Ley at last year's federal election.

She too is pushing back against the major parties.

"I think they've lost that connection and the understanding of what it's like, you know, what a tank of fuel really costs," Milthorpe said.

"I think the clear message is that the two major parties, it's not business as usual anymore," independent MP for Indi Helen Haines said.

Farrer, which takes in the border town of Albury, has had just four representatives since its inception in 1949 – three Liberals and a National.

Today's byelection could spell disaster for Taylor.

"The Liberal Party made a decision on a new leader and that's had ramifications … we just get on with the job," Nationals leader Matt Canavan said.

"We're going to keep fighting for the things we believe in and that we know are the right things for this wonderful part of Australia," Taylor said.

Results from the vote count are expected to begin rolling in after 6pm, with candidates hoping to claim victory later tonight.

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Police hunt man who fired shots after car chase through Sydney’s west

A suburb in Sydney's west was thrown into lockdown overnight for several hours as police searched for a gunman.

The search started from a simple traffic infringement and the fugitive remained on the run this afternoon.

The shooter, wearing high-vis, was last spotted in Guildford.

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Officers tried to stop the Nissan Ute at 9.20pm yesterday in South Wentworthville for a traffic offence.

"A vehicle with irregular number plates committed a right-hand turn against traffic signs," Chief Inspector Rick Agius said.

The vehicle was a ute initially seen in South Wentworthville, before taking authorities on a 9-kilometre chase and eventually being pinned by police.

But the driver made a run for it, firing five shots into the air.

"The male in my opinion is totally irresponsible and stupid in his actions by discharging a firearm in a public place," Agius said.

"We're very lucky that no one was injured or killed."

Anyone with information can contact Crime Stopper

After a six hour manhunt and a search of the vehicle, authorities are no closer to figuring out who this man is and are hoping a member of the public can identify him.

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