Breaking business news australia

Here are some of the latest breaking business news from Australia:

ASX Market Update

• The Australian stock market has opened higher, with the S&P/ASX 200 index up 0.4% to 7,354.5 points.
• The big four banks are leading the charge, with Commonwealth Bank, Westpac, National Australia Bank, and ANZ all rising between 0.5% and 1.1%.
• Mining stocks are also performing well, with BHP Group and Rio Tinto both up around 1.5%.

Economy

• The Australian economy grew at an annual pace of 2.1% in the September quarter, according to the Australian Bureau of Statistics (ABS).
• The growth rate was slightly higher than expected, and was driven by a surge in consumer spending and a rebound in business investment.
• The ABS also reported that the unemployment rate fell to 5.2% in October, down from 5.3% in September.

Business

• Qantas has announced plans to launch a new budget airline, called Jetstar Japan, in partnership with Japan Airlines.
• The airline will operate flights between Japan and Southeast Asia, and is expected to create around 1,000 jobs.
• Qantas has also announced plans to increase its capacity on flights between Australia and the US, with the introduction of new Boeing 787-9 aircraft.

Technology

• Telstra has announced plans to launch a new 5G network in Australia, with the first services expected to go live in the coming weeks.
• The network will offer faster speeds and lower latency than Telstra's current 4G network, and will be available in major cities across the country.
• Telstra has also announced plans to invest $500 million in its network infrastructure over the next three years.

Finance

• The Australian dollar has fallen to a two-week low against the US dollar, amid concerns about the global economy and the impact of the US-China trade war.
• The dollar is currently trading at around 67.5 US cents, down from around 68.5 US cents last week.
• The Reserve Bank of Australia (RBA) has also announced that it will keep interest rates on hold at 0.75% for the time being, citing the uncertain global economic outlook.

Other News

• The Australian government has announced plans to introduce a new tax on digital services, such as Google and Facebook, to help fund the country's healthcare system.
• The tax is expected to raise around $600 million per year, and will apply to digital services that have a turnover of more than $100 million per year.
• The government has also announced plans to introduce a new law to prevent the spread of misinformation on social media, following a series of high-profile scandals.