Retailer pain as rates rise; 5 MPs ejected in Canberra chaos; Alphabet, Microsoft results

Ohio gubernatorial candidate Amy Acton emphasizes her commitment to addressing corruption and rising costs in the state. She pledges to lower taxes and prevent data centers from increasing energy bills, asserting that the time for change has come as she aims to represent the interests of everyday Ohioans over billionaires.

In the retail sector, major Australian retailers report a significant slowdown in consumer spending, attributed to rising interest rates, fuel prices, and a declining housing market. Companies like Bunnings and JB Hi-Fi have experienced drops in sales, raising concerns ahead of the crucial holiday shopping season. Analysts predict that the retail slowdown could persist for the next six to twelve months as the economic impacts of these factors continue to unfold.

The Australian corporate regulator is investigating the failed $44 billion float of Firmus Technologies, focusing on whether investment banks misled investors regarding share demand. This inquiry highlights ongoing scrutiny of financial practices amid broader discussions about corporate accountability in the wake of high-profile failures.

In international news, contrasting earnings reports from Google and Microsoft illustrate the challenges and opportunities within the artificial intelligence sector. While Alphabet's disappointing results raise questions about the profitability of its AI investments, Microsoft shows stronger growth, particularly in its cloud operations, reflecting differing strategies in navigating the evolving tech landscape.

Friday 30 October 2026 High interest rates and the cost-of-living crisis hits some of the country’s largest retailers. The corporate regulator undertakes inquiries about the failed Firmus technologies float, focusing on its bankers A chaotic day in parliament results in five MP’s being ejected during Question Time One of the doyens of the New York Stock exchange, General Motors, moves to the Nasdaq Alphabet and Microsoft’s profit results trigger very different responses from investors

Hit follow on the podcast so you don’t miss the latest news, and join our free daily newsletter here.

And don’t miss the latest episode of How Do They Afford That? - where to start with messy money. Get the episode from Apple, Spotify or anywhere you listen to podcasts. Find out more: https://fearandgreed.com.au/ See omnystudio.com/listener for privacy information.