Thu, 20th Feb 2025

In this week's financial news, Telstra, Australia's leading telecom company, reports a 7.1% rise in first-half profit, attributing to a net profit of 1.1 billion dollars. This financial success has led to a share buy-back initiative and a boost in its dividend by 5.6%. The firm is set to invest 800 million dollars with Ericsson to enhance its mobile network. Meanwhile, in Victoria, high land tax rates have caused property investors to recede, creating opportunities for first-time homebuyers. However, the Victorian economy doesn't suffer, as data shows Victoria leading in first-time homebuyers in Australia. The labor market shows a calming trend with the Reserve Bank of Australia finding positives in softer job growth figures. Lastly, the Financial Advice Association of Australia is pushing the Australian Financial Complaints Authority for clarity over the sharp rise in claims handling costs.