Live updates: Wall Street edges higher to new record as Alphabet jumps, ASX to open marginally higher
Futures trading points to the ASX opening marginally higher this morning, arresting yesterday's sharp sell-off.
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ABC News
10 minutes ago
- ABC News
Via Dolce owner frustrated after government demands removal of $150,000 gazebo
A city hospitality business owner said he would never have spent $150,000 on a gazebo had he known he would be ordered to remove it 18 months later. The ACT government deemed the covered dining room outside Italian restaurant Via Dolce on Garema Place "not consistent with guidelines" for the government's upgrade of the inner-city thoroughfare. Owner Joe Pelle installed the gazebo in December 2023 to encourage year-round outdoor dining in the ACT. It has a built-in floor and a reverse air conditioner. "I want to see the city of Canberra flourish. I want to see it vibrant." The permit for the gazebo included the requirement that the structure could be disassembled within 48 hours. However, since then, the City Renewal Authority's 2024 Garema Place toolkit, which outlines aesthetics for the area, doesn't support such gazebos. Instead, large umbrellas are the approved outdoor dining option for hospitality venues. Mr Pelle was given 48 hours to remove the structure by July 27. City Renewal Authority chief executive Craig Gillman said the gazebo was larger than the initial permit allowed. "It exceeded, by a significant margin, the permit zone." However, Mr Pelle said the gazebo and its size had previously been approved by the government. With construction continuing in the area, Mr Pelle supports the government's plans to attract more visitors to the area, but is worried about limited outdoor dining options. He believes plans should allow for businesses to build enclosed dining areas to protect customers. "Even on a hot day, a gazebo would really enhance and make the dining experience more comfortable." A few doors down, restaurant owner Richard Ho also supports the government's plans to revitalise the area. He is optimistic that the new upgrades will encourage more people to visit Garema Place. But he believes umbrellas may not attract diners during extreme weather. "It's very good for other seasons like summer," Mr Ho said. "In winter, it's a bit too cold." City Renewal Authority's Mr Gillman said approvals for umbrella structures would be fast-tracked for permit approvals. But he said gazebos would not be. "You can't see through structures and that creates a perception that places are unsafe because you can't see what's coming in front of you," Mr Gillman said. "City Renewal would not support the return of that style of structure into Garema Place for any business. "We're not the regulator … but we do get consulted, and that would be our position." Businesses have engaged in consultation with the government for the Garema Place development since 2023 Major works are expected to be completed by the end of the year. Meanwhile, Mr Pelle has removed the gazebo, which he says cost his business $150,000 and is hoping to gain approval for his application to install it around the corner, replacing an existing gazebo on Bunda Street.
ABC News
40 minutes ago
- ABC News
Webjet fined $9 million for excluding fees from ads, falsely confirming bookings
Travel giant Webjet has been fined $9 million after it admitted it failed to include compulsory fees in some of its advertised airfare costs, and it provided misleading booking confirmations. In the Federal Court case, brought on by the Australian Competition and Consumer Commission (ACCC), Webjet admitted it made misleading statements in promotional emails and social media posts on airfare prices between 2018 and 2023. Webjet further admitted it provided false or misleading booking confirmations to 118 customers for flights it had not actually confirmed between 2019 and 2024, then asked for payments of up to $2,120 from consumers to complete the booking. Webjet has since refunded those customers. The consumer watchdog began investigating Webjet after a customer complained that an airfare advertised as "from $18" ended up costing triple that amount once all the compulsory fees were added. "We took this case because we considered that Webjet used misleading pricing by excluding or not adequately disclosing compulsory fees in its ads," ACCC chair Gina Cass-Gottlieb said. Compulsory fees, including "Webjet servicing fee" and "booking price guarantee" fee, ranged from $34.90 to $54.90 a booking, depending on the destination. While fees were disclosed on the website, app and most emails, Webjet's social media posts did not disclose the additional fees. "Retailers must ensure their advertised prices are accurate. They should clearly disclose additional fees and charges," Ms Cass-Gottlieb said. Webjet's fees made up 36 per cent of its total revenue between November 1, 2018 and November 13, 2023. Webjet cooperated with the ACCC, admitted liability and agreed to make joint submissions to the court about orders, including the penalty. A statement published to the ASX by Webjet Group on Monday acknowledged the agreed penalties. "In accordance with the Federal Court's orders, and consistent with the agreement reached between the parties, Webjet Marketing has agreed to: In a February ASX statement, Webjet said it had "voluntarily and proactively implemented improvements to its fee disclosures". "Webjet Group is confident that any customer concern with its offering, disclosure, service, or pricing was limited," it said. "It has always prided itself on its high levels of trust with all customers and stakeholders and has fully cooperated and positively engaged with the ACCC to resolve this matter."
News.com.au
an hour ago
- News.com.au
‘Insane': Run-down home sells for $3 million
The more than $3 million sale of an overgrown two-bedroom house in Brisbane has raised questions about the state of the city's housing market. The home in Perrott Street, on a 473 sqm corner block in the ritzy inner-city suburb of Paddington, went under the hammer over the weekend. After an opening offer of $2.75 million, a flurry of bids quickly brought the sale price to $3.1 million – well above the suburb's median price of $1.9 million. The property listing said it had been in the same family for 100 years and was used as a hospital during the Second World War. But it had not been occupied since the 1990s and would require 'significant works to bring it up to a comfortable living standard'. Photos showed the house was in a state of disrepair with the roof overrun with weeds, though it stood on a spacious block and commanded views of the city. Reaction to the sale on social media was mixed, with some Aussies labelling the $3.1 million sale price as 'insane' and 'ridiculous', and the home itself as a 'dump'. 'Problem is someone will knock it down for the land and build some garbage thing,' one said. 'It gets you a block of land worth $3.5 million three weeks from now after you bulldoze the shack,' another added. But Ray White agent Max Hadgelias told that the new owners were a local family who intended to be owner-occupiers. There had been 'fantastic interest' in the home, with 15 registered bidders at the auction along with scores of locals who attended out of curiosity, Mr Hadgelias said. Given the home was a protected character house it was 'unlikely' to be bulldozed to make way for a development. 'It requires a lot of work, but someone restoring it will bring it back to its former glory.' Although the property was in a run-down state, the price was 'underpinned by its location,' which included its sought-after Paddington postcode, elevated position and city views. Mr Hadgelias described the local housing market as 'strong – there's good activity across all spectrums at the moment'. Leith van Onselen, chief economist at said the sale was indicative of overstretched demand for housing in Brisbane. The city had seen an 89 per cent increase in house prices since March 2020. 'Brisbane's had one of the biggest house price rises in the country since the pandemic,' Mr van Onselen said. 'It's gone from being one of the more affordable housing markets to being the second-most expensive (after Sydney).' The cause was a 'gigantic surge' in both interstate and overseas migration to Brisbane. 'It's a real pressure cooker situation in Brisbane unfortunately, and I think the (2032) Olympics will make it worse. 'Obviously the inward migration from overseas and Australia has overwhelmed supply.' PropTrack data for June showed Sydney remained Australia's most expensive city with a median house price of $1.18 million, followed by Brisbane at $908,000, Adelaide at $837,000, Perth at $836,000 and Melbourne at $818,000.
